Attracting, Retaining and Motivating. What’s in it for them? [Now what?] Scott Maxwell
Stretch them (without breaking them). Think of stretching a rubber band as far as you can without breaking it. This is the fastest way for top caliber people to develop…getting their goals met becomes difficult for them, which they like!
Give them hard-hitting, constructive feedback. Everyone loves feedback, especially constructive feedback, and most managers shy away from giving it. Instead of hoping they will do the right thing and ignoring when they get off track, tell them what you observe and how you what you think (note: you can do this without being a micromanager by focusing on the themes rather than the details). High caliber people can and do want to do the right thing, so it is up to you to help define what that means (btw, you might be wrong, so giving them the feedback and being open to theirs is even better. It can get you aligned with you taking on their view of right quite often. It also clears the air really nicely).
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