Friday Focus #021 - Don't Lose Your MVPs: Strategies for All-Star RetentionNov 03, 2023
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Have you ever lost your team's key player, a true all-star? The impact can be significant, leaving a challenging void.
Now, reflect on your current team. Do you have all-stars who consistently deliver exceptional results? Those whose absence would harm your business?
The real question is, how can you ensure these invaluable individuals stay with you?
In my experience, many business owners spend too much time dealing with problematic team members, neglecting their all-stars. It's time to shift the focus.
Ensure your all-stars align with the big-picture vision, feel supported, and know you genuinely care about their growth. Investing in your people is invaluable. Exceptional individuals are rare and precious.
Review your compensation systems. Are you paying them what they deserve? Is your salary structure competitive? Consider profit-sharing or equity options. Exceptional talent seeks fair compensation.
Remember, if you don't pay your people what they deserve, someone else will.
In Kevin Monahan's book, "Buckets: How Business Legends Keep Their Hustlers," he addresses the misconception that hinders investment in key personnel. Don't fall into this trap.
Evaluate the impact of retaining and maximizing your all-stars. The benefits far outweigh the investment.
Retaining and empowering all-stars is vital for long-term success. Invest in them today for lasting rewards.
I wish you continued team success.