This article was originally published in Construction Executive.
Construction executives are always looking for ways to increase productivity and profits. Like most things in life, the solutions aren’t obvious due to patterns of thinking that make them invisible. As Einstein said, “Problems cannot be solved with the same mindset that created them.” So it is with performance issues.
THE 80/20 RULE
Companies in all industries are subject to the 80/20 Rule also known as the Pareto Principle. The principle states that for many events in life, roughly 80 percent of the effects come from 20 percent of the causes. In the workforce, most managers say that 80 percent of work production is accomplished by just 20 percent of employees. This 20 percent (consisting of top performers) are the most valuable to companies. While the exact ratio in a given company may be slightly different, outstanding performers are almost always a small minority of the workforce. Read the rest of the article here