A Guide To: Discovering Who is Sinking Your Ship, Understanding Recognition ROI, and Empowering Good Leaders
Who is sinking your ship??
In team dynamics, the impact of individual performance is crucial. Studies show that superior talents can be up to 8X more productive than lower-performing counterparts. However, just one low-performing individual can cause a 40% reduction in overall work output, potentially leading to significant negative outcomes for the team and organization.
The presence of these individuals not only results in decreased productivity but can also lead to additional issues. Going against your team’s vision, purpose and what you’re trying to create. Not to mention, potential costs of out-of-court discrimination cases, which can average around $40,000.
So, the question is: Are the individuals performing at the 5.3% or 14.3% level worth the loss of the 8X productivity that a superior talent can bring?
Organizations must carefully evaluate the trade-offs and consider the long-term impact of retaining underperforming individuals. Prioritizing productivity, team cohesion, and overall performance is essential. By promoting a culture of high performance and making objective assessments, organizations can create an environment that fosters success and maximizes overall team productivity.
Mike recently shared the impact of one bad apple; “Don't let your worst employee sink the ship of your talented team!”. Check it out below!?
A Simple Calculation for Recognition ROI?
Employee recognition is a low-cost, high-impact solution. Yet, recognition isn’t a strategic area of investment for most organizations.
Utilizing real customer data, we have developed a free interactive solution to demonstrate how it is possible to calculate the return on investment in recognition. With the right investment in time and tools, you could not only save your sanity but also save your organization thousands of dollars in hidden costs.
When examining the numbers, there are some quantifiable benefits to these reductions, such as:
Other benefits, while less straightforward to quantify, are equally significant, including:
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How to Calculate the Benefits of Employee Recognition
By using benchmark results, See how much Secchi can save you. Click here and scroll down to access the calculator.
Many thanks to our guest blogger and data expert, Dustin Schimek (LinkedIn Top Data Analytics Voice, Co-Host of Data Ideas Podcast and Data Careers Summit), for his expertise, insights, and discussion on this topic!?
Let good leaders be good leaders
How do you recognize the positive contributions of your team members? Effective leadership plays a significant role in every employee's experience. By allowing good leaders to thrive, you enable your good employees to be great.
Recently, Mike and Ken sat down with Jon Snodgrass of The Snod Pod to share insights on retaining top talent. They explored strategies to reduce turnover, retain top performers, and elevate employee recognition within an organization.
Ken DeBauche, Co-Founder of Secchi.io, emphasizes that by offering what Secchi refers to as "turn-by-turn leadership direction into positivity, organizations can effectively manage bad apples up or manage them out.” This proactive approach ensures that underperformers are either guided to improvement or gradually phased out.
Interested in implementing these strategies within your team? Catch the full conversation here.
→ To learn more about Secchi, visit www.secchi.io.
→ Explore our library of online resources to find key insights and actionable takeaways to enhance frontline leadership, team engagement and performance.
→ Interested in speaking with our team or want to see Secchi in action? Contact us or request a demo here, https://www.secchi.io/request-a-demo.