Top performers happy in their roles won't move for a standard pay increase. To recruit them, dig deep to find personal pain points. Offering creative solutions like covering housing costs or children's tuition can be more compelling than a higher salary alone.
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The first conversation with a target CEO shouldn't focus on the deal. Instead, focus on their personal story to uncover their core motivation—money, legacy, or team success. This "why" provides the key to framing the acquisition in a way that resonates with them and dictates the entire negotiation strategy.
Counterintuitively, paying employees significantly more than the market rate can be more profitable. It attracts A-players and changes the dynamic from a zero-sum negotiation to a collaborative effort to grow the entire business. This fosters better relationships and disproportionately larger outcomes where everyone wins.
The most promising hires are often high-agency individuals constrained by their current environment—'caged animals' who need to be unleashed. Look for candidates who could achieve significantly more if not for their team or organization's limitations. This is a powerful signal of untapped potential and resourcefulness.
Sales leaders wrongly assume compensation is the universal motivator. However, assessment data shows money is the primary driver for only about 55% of salespeople. To create effective incentives, leaders must uncover individual motives, which may include free time, recognition, or charitable giving.
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.
Employee retention now requires a customized approach beyond generic financial incentives. Effective managers must identify whether an individual is driven by work-life balance, ego-gratifying titles, or money, and then transparently tailor their role and its associated trade-offs to that primary motivator.
The very best engineers optimize for their most precious asset: their time. They are less motivated by competing salary offers and more by the quality of the team, the problem they're solving, and the agency to build something meaningful without becoming a "cog" in a machine.
A 'no' from a high-value candidate shouldn't be the end of the conversation. The best approach to recruiting is to be persistent over a long time horizon. A rejection today may turn into a hire five years from now if you maintain the relationship.
Instead of directly asking for a raise, top salespeople should request better opportunities like bigger accounts or higher-quality leads. This frames the conversation around driving more revenue, which speaks a sales manager's language and demonstrates a focus on performance over entitlement, making it a more effective negotiation tactic.
