This week, a managing partner at McKinsey talks about why the 80/20 rule is really like the 98/2 rule when it comes to worker performance, we explore the science behind strong teams, the Harvard Business Review quantifies how much salary employees would sacrifice for meaning, and we review the benefits of helping people speak out.
This week’s growth quote:
“A leader is best when people barely know she exists when her work is done, her aim fulfilled, they will say: we did it ourselves.”
– Lao Tzu
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Most professionals are familiar with the 80/20 rule – the idea that a minority of customers or employees contribute the majority of revenue or value. But when it comes to star performers, that 20 percent is more like 2-5 percent. “This doesn’t mean, by the way, that the 98 percent don’t matter,” says McKinsey Global Managing Partner Dominic Barton. “But, for God’s sake, spend time on the two percent who are going to really drive it.”
At some point in their career, sixty-eight percent of people have been part of a dysfunctional team. Which is to say, they’ve felt the weight of carrying everyone else’s load, been talked over, or felt forced to play politics, and only one quarter say they’d do it again. Yet the workplace is more reliant on teamwork than ever before, so here’s how to quash dysfunction and build a strong team.
Harvard Business Review
Data confirms what popular culture has long expressed: Americans long for something deeper than a paycheck. Researchers found that compensation is only moderately correlated with job satisfaction. Raises are nice, but many workers would rather feel that they’re doing meaningful work. So, why are employers still so fixated on pay?
Harvard Business Review
Companies with outspoken employees are better at navigating opportunities and threats. But if people don’t speak up, where do you place the blame? Is it that employees lack the right disposition or is it management’s job to create the right culture? One study of a manufacturing plant in Malaysia suggests it’s an unexpected mixture of both.
Ready to turbocharge your performance management? Check out our brand-new Ultimate Guide to Utilizing OKRs Within Continuous Performance Management, featuring tips and strategies from NY Times bestselling author John Doerr.
If you missed last week’s recap, read it here: The Calming Effect of OKRs, Finding Meaning, and 5 Ways Managers Must Change