The first of our Authentic Conversations podcast episodes - this format is a shortened version of our normal episodes where we discuss leadership topics that have arisen be that in conversations with clients or in our general lives.
The "fishing in a shallow pond" problem refers to the challenge organisations face in attracting and keeping top talent because of a limited pool of qualified candidates. This problem is exacerbated by accepting poor performance and neglecting employee development.
Polluting the pond
Many organisations fear losing employees, leading them to tolerate under-performance. This acceptance creates a toxic work environment, dampening motivation and preventing top talent from joining. When poor performance is accepted, there is no motivation for improvement, and it becomes the norm.
The lack of investment in employee development limits the potential of the workforce and makes it difficult to attract new talent.
Attracting the big fish
Top candidates look for organisations that invest in their staff, offer growth prospects, and cultivate a culture of growth. Invest in employee development, create a positive work environment, and hold employees accountable to address the shallow pond problem.. Tough decisions may be necessary to maintain a high-performing workforce.
Consequences
Consequences can be a powerful motivator. Holding employees accountable encourages them to take ownership of their actions.. The goal is to manage employees up, making them better through honesty and integrity.
Organisations should not fear accountability but embrace it. Establishing a high-performance culture requires clear expectations and support for employees to improve. Establish clear expectations and support employees to improve or replace them with the best to build a deep and diverse talent pool.. Offering attractive incentives and benefits helps attract the top performers.
Thriving in a shallow pond
By taking these actions, organisations can thrive in the competitive business landscape. Embracing accountability, investing in employee development, and creating a high-performance culture will enable them to overcome the shallow pond problem and attract and keep top talent.
You can read an expanded blog on the topic here Fishing in a Shallow Pond.
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Thanks to our Podcasting producer, Josh at Deadset Podcasting for all his work behind the scenes.
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