Jack Welch, the legendary General Electric CEO, was infamous for firing the bottom 10% of his workforce every year, without exception. The company’s market cap rose substantially during Welch’s tenure, but his “rank and yank” ritual was divisive.

If you knew your job was always on the line, the logic went, you’d push harder and generate results. But what did this approach do to the employees who had to constantly compete with each other to keep their jobs?

 …