Hi Everyone—welcome to my blog. It is pretty amazing that I am blogging but it is a terrific way to communicate what I see in the financial sector–so I look forward to getting your comments.
As you know, I am very active in the financial sector and I want to share some my thoughts from recent trips I have made.
With the recent upswing in the industry in business because of falling rates–capacity seems to be a big issue again. I am hearing executives say that they know they need to terminate the underperformers but with business strong they are holding on to those that should not be in the industry. This is one of the biggest problems that I continously see—underperformers being kept on because they are believed to cost nothing–when managers are failing to give acknowledgment of lost sales opportunities and time put in to people that are not self motivated to succeed.
In this market, companies need to have the best and not people that are at best average. So let me hear what you think. Pat Sherlock
Good advidise as always.
Hi Bill–thanks for your comment–let me know of any topics that are important to you so we can address them. We always want to hear from the sales trenches! Have a great week. Pat Sherlock
I agree. Average to weak performers are kept on and carried waiting for the next refinance wave until a couple of good months “prove” they can produce. A good month in the current environment only proves they can answer the phone and take an order.
Hi Mark—yes I see it constantly in our consulting–in fact–one of the first things we do is to determine who the underperformers are and put them on plan to improve or be exited. Typically, the poor performance was known but the managers did not do anything about it. This is occurring even now when it really shouldn’t when there are so many good people out there that could be recruited for the position. I find this unbelieveable—similar to the Eagles ever winning the Superbowl! Well, there is always next year. Pat