The latest episode of Co-Founder’s Corner;
3 key steps to managing the risk of the top 10 performers
In this new episode we’ll be discussing about how you manage risk for your top 10 performers!
I often see a real risk within the companies we operate when the top 10 producers are producing between 67 and 75% of all their revenue.
For a 10 to 25 million pound company, that’s a huge risk!
It means that almost 1.25 million is existent within one producer’s revenue record. So if you were to lose this individual, you’d be at huge risk to your business.
Here are three key steps to managing the risk of these top performers:
- Treat these top 10 as rock stars. These are massive assets to you. And why would you treat someone differently if they were producing an average of 1.25 million?
- Have good system in place in terms of CRM and a manage system that can look out the records and their customer conversations.
- Aligning incentives to the particular individual.
This is not a catch-all strategy, so make sure you have tailored and bespoke solutions to your top performers.
I’d love to hear more about how you incentivize your top performers and how you manage the risk of engaging with them each month. Please comment below, I’d love to discuss it with you.
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