Chapter 10 – A Final Word on People, page 147.
- People are your number one competitive advantage.
- Whether you’ve hired or inherited them, you must take responsibility for them, because they are your most valuable resource.
- You are accountable for their performance.
- Great bosses get the most out of their people.
- Great bosses continually raise the expectations of their people.
- Great bosses hold their people accountable to high standards.
- Great bosses “walk the shop floor” to see first hand what is happening.
- Great bosses invest time in their people.
Good Turnover. Bad Turnover: A Reality Check
- When going on the Great Boss journey, turnover at the one-year mark is common.
- This turnover is usually “Good Turnover.”
- “Good Turnover” is when people go away because they are the Wrong Person, they are in the Wrong Seat, or they can’t live up to the new expectations.
- “Bad Turnover” is when the Right People are leaving because of poor leadership and management.
- Whenever your vision for growth is crystal clear, the right structure is in place to support that growth, and you push to get Right People into the Right Seats – leading, managing, and holding accountable to execute the vision – there will be fallout.
- 20-50% employee turnover is typical.
- 80% of the time, the company’s Leadership Team changes.
- Many companies have turned over their entire leadership team.
- Intuitively any kind of turnover doesn’t feel good. However, think of the benefits when you replace the wrong people with the right people.
- When you have the right people in the right seats, you will gain more of what you want from your business: productivity, growth, profit, enjoyment, peace of mind, and a thriving culture.
- Often people feel that becoming a great boss is going to take a lot of work. The fact is, having mediocre people in place and having Great People in place take equal amounts of hard work, but as a boss, you get to choose which – enjoyable hard work or frustrating hard work.
