{"id":16194,"date":"2021-08-13T21:55:41","date_gmt":"2021-08-14T04:55:41","guid":{"rendered":"https:\/\/getlighthouse.com\/blog\/?p=16194"},"modified":"2024-07-04T05:57:36","modified_gmt":"2024-07-04T05:57:36","slug":"fast-track-star-employees-career","status":"publish","type":"post","link":"https:\/\/getlighthouse.com\/blog\/fast-track-star-employees-career\/","title":{"rendered":"4 Ways You Can Fast Track Your Star Employee\u2019s Career"},"content":{"rendered":"\n

How can you support and accelerate the career trajectory of your best performers? What do you need to do to keep them motivated for the short- and long-term?<\/p>\n\n\n\n

If you've ever had a star employee on your team, you know how valuable they are.  A 2012 study from Indiana University<\/a> has shown that high performers can do up to 400% more work<\/strong> than an average employee. Even more astoundingly, that number goes up to 800% for high-complexity jobs like being a manager.<\/p>\n\n\n\n

Of course, that potential can go to waste if you can't find opportunities for them to develop. A lack of growth<\/a> is among the leading causes of turnover everywhere. This has been confirmed by PwC<\/a>, Mary Meeker's Internet Trend Report<\/a>, Linkedin's Workplace Learning Report<\/a>, and many other sources - and it's true for your high-performing employees especially.<\/p>\n\n\n\n

You need to feed their hunger to learn and grow to be able to retain them for the long haul. That's why today's post gives you four approaches you can use to accelerate their career trajectory and keeping them happy and motivated.<\/p>\n\n\n\n

\"star<\/figure>\n\n\n\n

4 Ways to Support Your High Performing Employees<\/h2>\n\n\n\n

Investing time and resources in your best people is one of the most important things you can do as a leader. As Gallup's Marcus Buckingham<\/a> explains in his book, \"First, Break the Rules\u201d<\/a>:<\/p>\n\n\n\n

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\"Talent is the multiplier. The more energy and attention you invest in it, the greater the yield. The time you spend with your best is, quite simply, your most productive time.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Knowing how valuable this investment can be, there are a few things you can do to help your best performers fast track their career.<\/p>\n\n\n\n

Table of Contents:<\/strong> <\/p>\n\n\n\n

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  1. Help them get mentors to support and understand their path forward<\/a><\/li>\n\n\n\n
  2. Praise them regularly<\/a><\/li>\n\n\n\n
  3. Involve them in important projects<\/a><\/li>\n\n\n\n
  4. Support them systematically by giving them \u2018performance pay'<\/a><\/li>\n<\/ol>\n\n\n
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    \"Star<\/figure>\n<\/div>\n\n\n

    1. Help them get mentors to support and understand their path forward <\/h2>\n\n\n\n

    When you see someone rising to the occasion in big ways and becoming a star contributor at your company, it's time to act. <\/p>\n\n\n\n

    It's important to have a career conversation with them and learn what they want to accomplish. Find out what role they're aiming for long term: a VP of Engineering? A CMO? COO? Founder? A principal or other high ranking individual contributor role? <\/p>\n\n\n\n

    Once you know this, you can start helping them see how the work and growth at your company can help them get there. <\/p>\n\n\n\n

    Think about who they could shadow to develop leadership skills. For example, if their ambition is to become a VP, introduce them to people who are already VPs in their field, so they can talk to them and ask them questions about their path.<\/p>\n\n\n\n

    That will allow them to understand what they really want to achieve and what the realistic paths are to get there. <\/p>\n\n\n\n

    It's also likely to accelerate both the mentor's and mentee's career growth. As this article from Forbes<\/a> points out, mentees are promoted 5 times<\/strong> more often than those without mentors. Additionally, mentors themselves are 6 times<\/strong> more likely to be promoted.<\/p>\n\n\n\n

    Introducing them to someone who can support them will lower your workload as well; suddenly, their growth, who they ask advice from, and charting their future course is not just on your plate. <\/p>\n\n\n\n

    Finding a mentor for them is a win-win situation, because they get more support than you can provide alone, and you won't feel solely responsible for finding time to help them. <\/p>\n\n\n

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    \"Motivating<\/figure>\n<\/div>\n\n\n

    2. Praise them regularly<\/h2>\n\n\n\n

    Few things are as meaningful as someone telling you how much your efforts are appreciated, especially if the praise you receive is specific and frequent. <\/p>\n\n\n\n

    The first thing you should do when fast tracking your star employee's career is tell them how important they are and how serious you are about helping them get even better.<\/p>\n\n\n\n

    Let them know they are a company pillar and how grateful you are to have them. Then, have a career conversation with them and talk to them about what they want to accomplish. <\/p>\n\n\n\n

    A study from Gallup<\/a> has shown getting \"praise or recognition for good work\u201d can increase a team's productivity by between 10% and 20%. Of course, that includes your star performers as well.<\/p>\n\n\n\n

    Don't assume that your stars know it. The worst thing you can do is make them feel taken for granted. <\/p>\n\n\n\n

    Instead, take time regularly to tell them. <\/p>\n\n\n\n

    \"Star<\/figure>\n\n\n\n

    Double Down on their Strengths<\/h3>\n\n\n\n

    As a leader, you need to focus on your star's strengths and double down on what you think they're already particularly good at. As Gallup<\/a> found: <\/p>\n\n\n\n

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    \"People who focus on their strengths<\/strong> every day are 6 times more likely to be engaged in their jobs, more productive and more likely to say they have an excellent quality of life.\u201d <\/em><\/p>\n<\/blockquote>\n\n\n\n

    If you're not sure what their strengths are, take a closer look at their work and how they operate; over time it should become clear what they do best. Then, give them feedback and praise on things that they're doing well so they can do more of it, while continuing to improve.<\/p>\n\n\n\n

    This is a fantastic way to keep an eye on their development and help them focus on the important things. It's also crucial for regularly showing them you're behind them all the way.<\/p>\n\n\n\n

    For more in-depth instructions on how to give better praise, check out the following posts:<\/p>\n\n\n\n