10x Profits with Half the COGs: A Step-by-Step Guide to Finding Peak Performers

Are you tired of struggling to increase your business’s profits while keeping costs under control? Are you ready to take your productivity to the next level? Then it’s time to start thinking differently about your hiring strategy.

According to Hunter and Schmidt, a tiny minority of peak performers can produce almost all of the economic outcomes for a business. In other words, finding and hiring the right people can have a massive impact on your bottom line. But how do you identify and attract those peak performers?

In this step-by-step guide, we’ll share the secrets to finding and hiring peak performers that can 10x your profits while keeping your costs low. We’ll cover everything from paying more to gamification and marketing yourself to job seekers. Plus, we’ll provide proof that these strategies work and even offer free templates to help you get started.

• PAY MORE

One of the most common mistakes businesses make when hiring is focusing too much on cost. While it’s important to keep your costs under control, you shouldn’t be afraid to pay more for top talent. In fact, peak performers often demand higher salaries, and they’re worth it. Why? Because they can produce three, ten, or even 100 times more output than their peers. And when you’re paying more for productivity, you’re actually getting a better deal.

• GAMIFICATION

Money isn’t the only motivator for peak performers. In fact, many of them are driven by the desire to win. They want to be challenged and rewarded for their efforts. That’s where gamification comes in. By turning work into a game, you can tap into the competitive nature of peak performers and motivate them to achieve even more.

• BE WARY OF BARGAINS

When hiring, it’s tempting to look for bargains. After all, why pay more when you can get a similar candidate for less? But settling for anything other than the top tier of a salary range can be a red flag. Peak performers know their worth, and they’re not willing to settle for less. Of course, this shouldn’t be a disqualifier, as some peak performers may be playing the long game and willing to prove themselves over time.

• YOU’RE PUSHING PEAKS AWAY

If your job listing sounds like a “fugitive wanted” poster, you’re probably pushing peak performers away. They’re not interested in ivory tower nonsense or mandates, punishments, and threats. Instead, they want to know what’s in it for them. So, make sure your job listing is focused on the benefits of working for your company and what you can offer them.

• YOU NEED TO MARKET YOURSELF

Finally, remember that job listings are marketing collateral. You’re not just looking for someone to fill a position; you’re looking for a peak performer who can help take your business to the next level. So, make sure your job listing is focused on what’s in it for them. Consider empathy training if you’re having trouble putting yourself in their shoes. And if you need more inspiration, check out Joe Polish’s new book.

By following these tips, you can find and hire peak performers that can 10x your profits while keeping your costs low.