US entrepreneur Gary Vaynerchuk posts some fascinating videos and none was more infamous than him telling a room full of CEOs that they might need to fire their most talented employees.
The video had been doing the rounds on every social channel and it was no surprise that his no-nonsense comments sparked a fierce debate.
In this video, he’s basically saying that it doesn’t matter who your best employee is, if he or she is making others in your business miserable then the fallout from dealing with the negative atmosphere and politics is going to drag your company down.
That’s something your business can’t afford. Instead, you’re better off saying goodbye to said starlet, however good a performer he or she is.
That may conflict with most management theories you’ve ever come across, and also risks sending your HR team into a panic, but there is logic to what he is saying.Tomas Chamorro-Premuzic, a professor of business psychology at New York’s Columbia University, warned that often it’s narcissists and egomaniacs who make it to the top of the corporate ladder. Obviously, that’s not a good thing, because the reality is that they are the worst kind of leaders!
“People get rewarded for sucking up, but leadership should be about managing down: turning a bunch of people into a high-performing team,” the professor said.
“A good boss gives constructive feedback and makes staff perform to a higher level. This is relatively rare, compared to ‘my boss doesn’t care about my development and is more focused on politics’. The irony is that those in the latter group get on.”
It’s hard not to disagree, and it’s a point Gary Vaynerchuk also picks up on in his video. He states that, as a business leader, your job is to pay attention to the human elements driving your business and understand what they want “one by one”.
Gary insists that to succeed in the “Engagement Economy” you have to pay attention to the human elements driving your business.
We’d go further than that.
With most products now becoming commoditised the way to win is with unparalleled service and that requires highly motivated, happy employees.
Times have changed. Now you need to know how your employees feel to keep them out of the clutches of your competitors.
Employee feedback strategies are so important in business, yet most HR teams just settle on a yearly questionnaire and think that’s that.
Of course, the traditional annual survey may still have their place. But asking a list of questions once a year isn’t an employee feedback strategy that will increase staff retention and boost morale all year round.
And how often does it just sit on the shelf for 12 months until the next one?
Businesses need to understand how their employees feel all year round and to act on issues immediately to get the best results from their team.
Employee happiness is key, so it’s crucial to measure it in your business.