Reward your winners, ditch your losers

Jerry Bellune

By Jerry Bellune

 

Which unprofitable products, services and procedures do you and your people put up with?

Who are your least productive people and what do they do to morale?

Why do you put up with losers?

Jack Welch didn’t do it. Why do you?

Welch died last week at age 84.

In his years as CEO at General Electric, he was ruthless about selling less profitable assets and buying winning companies.

That strategy made money for his investors, many of them GE employees.

His critics called him Neutron Jack, after the bomb designed to kill the enemy but leave his buildings unharmed.

Welch believed you improve people, productivity and profits by rewarding your winners and firing your losers.

Each year, Welch required his executives to fire the least productive 10% of their employees and give bonuses to the top 10% of those who were the top producers.

Hiring is fun. You are looking for people who can become top producers. But you aren’t always right. Performance, not job interviews, proves who your winners are.

Reward your winners. Get rid of your losers. They just drag everybody down.

We share such strategies in “Uncover Your Inner Sales Genius.” A complimentary electronic copy is available to you at http://jerrybellune.com .
Copyright 2020, The Bellune Co., Inc.