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