Why should you focus more on top performers than low ones

Why should you focus more on top performers than low onesWhy should you focus more on top performers than low onesStartup founders? Were naturally optimistic. We believe in ur ideas and abilities, and were always bullish maybe naively about our companys chances for success.Founders are also, as it happens, naturally optimistic about the people that we recruit. We believe each of our employees has what it takes to be a strong performer and a meaningful member of our team after all, we are the ones who hand-selected them.To an extent, we believe we need to feel this way. In turn, if an employee is underperforming, we naturally want to invest resources into helping that person develop but sometimes, that investment can eat a disproportionate amount of our own time and energy.This desire to help everyone improve, although magnanimous, can quickly devolve into a scenario which can negatively impact both your business as well as other members of your team. Although counterintuitive, it s better, instead, to invest that time in the people who are excelling and leading right now the ones tangibly driving progress in your organization. The ones who account for your success.Heres why.Micromanaging weak performers is a huge time suckLets throw one thing out there as the founder of a small company, you make hires so you can focus on other areas of the company- elend to add more work to your already busy schedule.Yet thats what consistently weak performers do. They drain your time.When my co-founder, Dennis, and I were hiring one of our first engineers, we ended up hiring someone who probably lacked adequate experience mostly on account of time. We needed someone who could start working right away. Wed just received funding, and our list of mission-critical action items seemed to grow every day.But the results of that hire were disastrous. We ended up investing more time checking this hires code than we would have if wed written it ourselves or held out for the right person. When there was a decision to be made, no matter how small, the engineer couldnt make it on their own. Other maturing processes and departments stagnated and were starting to become neglected. We began to fall behind.Startups, especially early ones, need employees who can run their domain autonomously. Better yet, startups need people who can wear a variety of hats and contribute, tangibly, in multiple ways.People who need to be micromanaged do the opposite they eat time and negate the contributions of others.This is an unforeseen consequence of weak performers they poison your companys culture and demotivate your more foundational playersFor one thing, when you as a manager spend all your time focusing on weak performers, strong performers will begin to wonder why youre not paying attention to them. Theyll stop working as hard because theyll figure, Whats the point? Im not being recognized for working hard anyway, so screw it.This is the opposite of what you want.Especially in early stage startups, its better as a founder to invest time and attention in those who will be the ones standing alongside you years down the line, managing teams and actualizing progress. Not only do those folks deserve your time and attention its simply a smarter investment. The only real way to cultivate and encourage loyalty is by spending time with an employee, involving them in important decisions and rewarding them for their efforts.Make no mistake this is an investment. Your time is valuable. But thats why its best to invest it in people who prove worth it.So whats the best way to invest in your top performers?This is the ultimate question. There are a variety of strategies, but the one Ive seen prove most effective is to involve top performers in key decisions, and to grant them increased responsibility and transparency.Youll find this has something of a catalyzing effect by giving promising employees additional responsibilities and challenges, along with increased ins ight into your decision-making processes, youll in turn lend them the chance to prove theyre capable of more than what you hired them for. And thats when theyll start to make a real difference.Take one of our employees, Victor, for example.Victor was an engine developer that Dennis and I hired early on. He was great at his job, but he also had a passion for game konzeption and saw this as an essential skill to have if he were to ever run a game studio of his own. This was something we learned during his yearly performance review.Victor was excelling by that point, so we decided to challenge him by giving him increased responsibility to affect other areas of the product. Fastforward 8 months he is not only the lead of our engine team, but he has also led the charge on the game design for multiple core features.This increased responsibility and room for growth fostered loyalty and an increased commitment to our mission. Hes totenstill a key member of our team to this day.Focusing on y our top performers helps your businessThis is worth repeating investing in your top performers the people who are leading and showcasing the kind of autonomous creativity and execution startups depend on is, simply put, investing in your businesss future.In addition to executing consistently, your top performers are the ones who, down the line, will help you come up with better ideas. Theyll provide you with the most valuable feedback. Theyll make quality hiring recommendations, and theyll take responsibility off your shoulders.This is, again, something we experienced with Victor. Although we hired him originally as an engine developer, he now influences a wide array of company processes, from managing the engine team, to game design, to feature roadmapping.In addition to impacting our bottom line, his effectiveness and his passion have been infectious. Hes improved our company culture top to bottom, imposing a new standard that everyone around him just naturally began to meet.And Victor is just one example. When we changed the way we invested our time and attention at scale, more encouraging changes started to occurWe identified a filter for what warrants our attention and what doesnt what the team could resolve on their own vs. what needed our input.Top performers started performing even better and getting more involved and ingrained in their teams, because they now felt like they had the ear of leadership and could really make a difference and have true product impact.Strong performers started mentoring weak performers and holding them accountable for weak performance. Its always better when peers hold each other accountable instead of the boss.At the end of the day, you just dont have time for weak performers.The good news is, you can typically tell within two weeks of hiring someone whether or not theyll be a weak performer. If employees truly care about the work and the mission, by their second week, even if theyre not making meaningful contributions, theyll be working hard to compensate for that fact. And if theyre not if theyre struggling and theyre draining time and energy its best to simply let them go.This is more necessary the younger your company is. Young startups need to move fast. You have no time or energy to waste on people who slow you down.That might seem harsh the opposite of an optimistic outlook but the truth is, both for you and your company, your time remains a precious and finite resource. It pays to invest it in people who create value, not those who siphon it.Sometimes, its more important to be pragmatic than optimistic.This article was originally posted on Quora.com.

Study We love pets as much as a person saying I love you

Study We love pets as much as a person saying I love youStudy We love pets as much as a person saying I love youThat feeling you get when your beagle is happy to see you when you come home from work, or a heartfelt I love you from your partner? Turns out that many of us register feelings of love on just about the same level for those two experiences.That was one of the findings of astudy called What Does It Mean to Feel Loved Cultural Consensus and Individual Differences in Felt Love, where people of all ages reported on their everyday experiences of feeling loved, both romantically and non-romantically.The study will be published in the upcoming January issue of the Journal of Social and Personal Relationships.The research questions asked people to respond true/false to if they would feel loved in 60 different scenarios from romantic to non-romantic scenes.What makes people feel loved?The top situations that most people agreed would make them feel lovedsomeone shows compassion towa rd them in difficult timesa child snuggles up to themtheir pets are happy to see themsomeone tells them I love youLess popular scenarios are situations that might seem romantic in a Hollywood movie, but in reality, were perceived as negative when it came to experiencing lovesomeone wants to know where they are at all timessomeone tells them what is best for themsomeone insists to spend all their time with themThe researchers found these scenarios to be especially unpopular because the study was carried out with U.S. participants the cultural consensus was that these scenes made them feel controlled rather than loved.However, subjects in other countries or cultures, or a more diverse U.S. sample, researchers wrote, people might respond differently.

Securities Trader - Securities Trading Careers

Securities Trader - Securities Trading CareersSecurities Trader - Securities Trading CareersAnother career path within financial services that can be highly remunerative is securities trading, whether of stocks or of bonds. Traders look to earn a spread between what they charge buyers and pay to sellers. The spread on shares of stock often can be mere pennies, but substantial profits can ensue from the sheer volume of activity. The key personality trait in trading is the ability to think and act quickly, and to gain a feel for the direction of the market. Traders attempt to limit risk by maintaining as small an inventory of securities as possible. However, a sudden rush of orders from customers wishing to buy can create problems if inventory is too low, just as an avalanche of orders to sell will force the trader to accumulate excess inventory, which places mora capital at risk. When trading imbalances occur, nerves of steel are an important attribute. Unlike investment bankers, trad ers tend to keep regular hours, often ending work shortly after the normal close of the markets at 4 PM Eastern Time. If you have a knack for certain fast-paced video games, along with an aptitude for economics, perhaps trading will be a suitable career for you. Find Job Openings Use this tool to find current job openings in the field. Compensation Compensation for securities traders tends to be heavily weighted towards bonuses based on the profits that their trading activities generate. It is not unusual for top traders to earn more than senior executives in many firms. In the determination of these profits, the conventions and assumptions utilized by their firms in the development of management reporting systems and transfer pricing methodologies play a critical role. During this writers career at Merrill Lynch, these were very contentious matters within the ranks of traders, since they had a direct impact on their compensation. In particular, much debate focused on trades exe cuted for retail clients through the firms network of financial advisors. In the case of some categories of securities, determining the value added by the retail distribution channel (and thus the amount of trading revenue to be transferred in these internal reports from the trading desks to the retail brokerage division) was subject to intense debate, with several plausible methodologies, offering varying results. The most contentious issue of them all regarded the portion of the bid to offer spreads that theoretically would go to compensate institutional salespersons, in the case of trades with institutional clients. By rights, this slice of revenue (however measured) should have belonged to the retail brokerage division on trades made by retail clients through the financial advisor network, since no institutional sales person would be involved. However, the political clout of the trading desks was such that they were able to retain this revenue segment and have it augment their b onus pools.