According to Herman Aguinis’ research paper titled ‘The best and the rest: revisiting the norm of normality in individual performance’, which involved more than 600,000 researches, entertainers, politicians and athletes, the results found that “high performers are approximately 400% more productive than average ones”.
According to Herman’s findings, the answer is simple right? Your organisation needs to hire the top performers within their field of specialisation. The difficult question is, how do you locate, attract and more importantly afford the top talent?
In today’s employment market, companies need to differentiate themselves from competitors, as employees are now looking beyond the traditional opportunities on offer.
The modern workplace has increasingly been focusing on ‘flexibility’ and employers have been aiming to become ‘employers of choice’, which is all about creating a work culture where people want to be a part of, and a workplace where they enjoy coming into every day.
According to Robert Half’s 2019 market overview, their survey concluded that providing company perks for employees is also key. Their findings confirmed:
- 80% of Australians would consider companies with flexible working arrangements and company perks, over a higher salary.
- 84% with flexible working arrangements, allow their employees to work outside the standard 9-5pm hours, with the option to work from home.
- 60% offer bonuses and well-being programs.
- 58% provide paid parental leave / Long-service recognition / Increased holiday allowance.
- With the new generation of employees being millennial aged workers, it is becoming the norm for employees to “job hop”, hence it might be good timing to start reviewing the internal policies to be aligned with your organisation’s values.
The late Steve Jobs of Apple probably summed up talent’s importance the best, with this advice:
“Go after the cream of the cream. A small team of A+ players can run circles around a giant team of B & C players. The more companies that aren’t on their game will find their best people cherry-picked by companies that are”.