• Are new and more cost-effective methods being developed and explored to
build efficiencies or improve accuracy?
• Are the members of the finance/accounting teams looking to innovate
and make a positive impact concerning the performance of a given residence or on behalf of the firm as a
whole?
As with the analysis of the sales/leas-ing staff, firms are always better served
replacing two “C” players with one “A”
player. Ample proof demonstrates that
top-tier finance and accounting teams,
when running at peak efficiency with
A-level talent, can save companies
thousands upon thousands of dollars
annually.
productivity and an improved corporate
culture over time. Firms that have adopted the topgrading concept have often
found cost savings by eliminating two
or more “C” players” as a result of hiring a more productive “A” player.
where it counts
Human capital is an investment and
not a cost. “It only takes one ‘C’ player to sap the energy and productivity
from an organization,” explains Loren
shook, founder and CEO of San Juan
Capistrano, California-based silverado
senior Living, which uses the topgrading method. “The cost of retaining even
one substandard employee can be dramatic—both financially and culturally.”
Accepting this premise and developing a consistent hiring strategy to enhance the fabric of your business helps
ensure consistent growth and profitability. Productivity, quality, customer
service, and innovation all suffer when
firms settle for mediocrity.
Given today’s economic challenges,
most senior living companies would
be well served to focus topgrading
efforts in two areas: sales/marketing
and finance/accounting.
why it matters
Companies today are struggling to
achieve and maintain profitability while
contending with an ever rising cost of
capital. Given these constraints, it’s
easy, from a human capital perspective,
to simply hunker down and maintain
the status quo. Fight this temptation
and remember that forward-thinking companies are consistently hiring A-level talent, while redeploying
underperformers.
Tolerating mediocrity in any economic climate is a mistake and, in this
market, it can be fatal. Can you survive
and maintain profitability with the overall level of talent on your team? Is there
a key role within your organization that
is failing to meet the demands or draining resources from other areas in an effort to shore up the deficiency?
A commitment to topgrading can
help you create an enduring, profitable
business committed to creativity, innovation, customer service, integrity, and
quality as its hallmarks. ❏
Jonathan A. Boba is managing principal
of Christenson Advisors LLC, based
in Chicago. Reach him at jon@
christensonadvisors.com.
who’s who
Contact information for members in this article.
› Loren shook, lbshook@silverado
senior.com
