Over the last several months, businesses have been impacted by COVID-19 in many ways. Some industries have been impacted more severely than others. Across the board, businesses have had to act and adjust like never before. Joe Paulsen with Pinnacle Business Traction would like to help you with ensuring that your company has the Traction it needs to overcome current and future challenges.The following is part three of a guest blog series where Joe will share tips on how you can gain traction in difficult times.
As Jim Collins and his research team found and explained in Good to Great, successful companies have “Right People” on their bus and they are all in the “Right Seats”. I think all of us can agree with this concept, but when the labor market is tight, it is tempting to tolerate employees that truly don’t share our Core Values or can’t adequately perform the requirements of the job. Fear of losing an employee and the prospect of having to recruit and train his/her replacement often stops leaders from having the important conversations to lay out their expectations and explain how that employee is not meeting those expectations.
I estimate that when you clearly articulate your expectations and show your difficult employees where they are falling short, 80% of the time those employees will modify their behaviors and actions to meet your expectations. However 20% will not and that means they need to leave the company. So there is a risk in confronting problem employees, but the odds are clearly in your favor when you take action! Also consider the message you are sending to your good employees. If they sense that you won’t ever take action on employees that are bringing them down, they will likely be the ones that will leave your company and that is a cost you can’t afford!
Joe Paulsen (Meet Joe) and Pinnacle Business Traction’s passion is to Enrich the Lives of Entrepreneurs and Business Leaders in the Mankato area. He has been implementing EOS since 2016 and has helped over 35 entrepreneurial organizations get everything they want from their organizations. Please reach out to him if you are wanting more information or assistance. [email protected]
GMG is offering the best-selling book Traction – Get a Grip on Your Business to members wanting to learn more about the Entrepreneurial Operating System. Please email [email protected] to schedule a time to pick-up your free copy at the GMG office.