The general view in business is that top-end talent is highly sensitive to and motivated by compensation and that big monetary rewards are key to their management. There is a grain of truth to this — but only a grain. In my 36-year career, I haven’t met a single person truly at the top end of the talent distribution who is highly motivated by compensation. Not one.
The 3 Simple Rules of Managing Top Talent
The general view in business is that top-end talent is highly sensitive to and motivated by compensation and that big monetary rewards are key to their management. But in reality, the motives of most top-end talent are not solely financial. Consider three guidelines for managing top-end talent. First, treat star employees as individuals, not as members of a class. They want to know that you care about and support them, so avoid giving the impression that you value them only for their high-quality work. Recognize each employee’s uniqueness. The next guideline is to provide opportunity continuously. Top talents want to take on big challenges and will go elsewhere if they have to wait for opportunities to be available at your organization. Offer your best employees chances to keep growing and learning, but recognize this responsibility goes hand-in-hand with finding ways for all your team members to achieve. Finally, don’t assume that intrinsically motivated workers don’t need your praise. Offer regular accolades and assurance. Although these three rules sound fairly simple, they can be hard to follow because organizations tend to treat everyone the same.