Uplifting Underperformance: Turning Challenges into Triumphs
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This article talks about how People + Performance (P+P) Winners build credibility through consistently strong financial results by integrating talent development with rigorous management practices. They cultivate trust by fostering collaborative relationships and addressing underperformance with empathy and support. These companies respect their employees by providing the necessary resources for success, including tailored support for underperformers, creating a resilient and high-performing workforce.
Here’s a more detailed summary of the article "Performance Through People" by McKinsey, aligned with the CTR Factor fundamentals
Credibility through Results: Companies that excel in both financial performance and human capital development, known as People + Performance (P+P) Winners, establish credibility through consistently delivering top-tier results. These companies demonstrate that a strategic focus on developing talent alongside rigorous management practices leads to higher economic profit, stronger returns on invested capital, and greater revenue growth. Importantly, they also focus on uplifting underperformers by providing clear expectations, constructive feedback, and opportunities for improvement, proving that their integrated approach to people and performance is a powerful driver of success.
Trust through Relationships: P+P Winners cultivate trust within their organizations by fostering strong, collaborative relationships among employees and leadership. They build an environment where open communication, mutual respect, and inclusive practices are the norm. This trust extends to how they manage underperformance, addressing it with empathy and support rather than punitive measures. By guiding underperforming employees with personalized development plans and continuous feedback, they create a culture where employees trust that their leaders are invested in their success and well-being.
Respect through Resources: P+P Winners show respect for their employees by ensuring that they have the necessary resources to succeed and grow within the organization. This includes not only investing in training and development but also providing targeted resources for those who may be struggling. By offering tailored support, such as mentorship, additional training, and flexible work arrangements, they demonstrate a commitment to uplifting underperformance. This respect fosters a resilient workforce where even those who initially underperform are given the tools and encouragement to improve, ultimately contributing to the company’s sustained success.
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The McKinsey Global Institute was established in 1990. Their mission is to provide a fact base to aid decision making on the economic and business issues most critical to the world’s companies and policy leaders. They benefit from the full range of McKinsey’s regional, sectoral, and functional knowledge, skills, and expertise, but editorial direction and decisions are solely the responsibility of MGI directors and partners.
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