Managers often spend disproportionate energy on low-performing employees. The highest-leverage activity is to actively invest in your top performers. Don't just leave them alone because they're doing well; run experiments by giving them bigger, more visible projects to unlock their full potential and create future leaders.
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Successful individuals receive endless mentorship requests. Instead of helping everyone or no one, they should focus their limited time on 'multipliers'—people whose position or potential allows them to influence and develop many others. This strategy scales a leader's wisdom and impact.
Challenge the 'hire slow' mantra. Hiring is an intuitive guess, so act quickly. Once a person is in the organization, their performance is a known fact, not a guess. This clarity allows for faster decisions—both in removing underperformers and, crucially, in accelerating the promotion of superstars ahead of standard review cycles.
Leaders misallocate time on low performers who won't improve or top performers who don't need coaching. The greatest return on coaching time comes from investing 80% of it in the solid B-players (the "six pluses") who have the raw ability to become elite A-players.
To accelerate growth for talented individuals, give them responsibility where their failure rate is between one-third and two-thirds. Most corporate roles are over-scaffolded with a near-zero chance of failure, which stifles learning. High potential for failure is a feature, not a bug.
Unlike a functional manager who can develop junior talent, a CEO lacks the domain expertise to coach their entire executive team (e.g., CFO, VP of HR). A CEO's time is better spent hiring world-class leaders who provide 'managerial leverage' by bringing new ideas and driving their function forward, rather than trying to fix people in roles they've never done.
To keep high-performers, beyond giving them equity, you must explicitly map out their trajectory. Galloway advises sitting down with employees to define their position, responsibilities, and financial standing three years into the future. This clarity on growth and demonstrated investment in their success is highly "intoxicating" for ambitious individuals.
A manager's highest duty is to an employee's fulfillment, not just their performance. When a top performer is not personally aligned with their role, a leader should actively help them find a better fit—even if it means using their own social capital to place them at another organization.
Danny Meyer performs a quarterly audit of his daily tasks, identifying 20% of activities that others could do better. He frames delegating these as an act of generosity that enables team members to grow and frees him to focus on his unique value-adds.
Top performers' primary need is opportunities for growth, not necessarily promotion. Delegating significant responsibilities forces them to develop new skills and fosters a sense of ownership, which is more valuable than simply clearing your own plate.
Instead of forcing top salespeople into team-wide training, let them opt out. A leader's primary job with elite performers is to remove obstacles by providing resources like an assistant or better software. Don't waste their time or yours; just get out of their way.