Make Smart Hiring Easier
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A Certified Gazelles Coach with a rich background, Jim Jubelirer helps leaders improve their business performance and personal satisfaction. He also speaks to a wide variety of audiences about leadership and business excellence. On this episode, Jim and I expand upon a topic the show has covered in the past and that’s people! People seem to be the biggest challenge and resource for entrepreneurs and other business professionals.
So, how can we get the right people on the bus? Through the use of Topgrading methods. Jim expands on how you can apply software tools and effectively use the assessments Topgrading provides to gain a different perspective on your applicants. Jim also provides key tips on how to hire effectively.
Topgrading tells us that only one in four people turn out to be a top performer, which means around 75% of people you hire don’t move the needle in terms of culture and performance. Poor performance is one of the top complaints among growth companies.
Companies are quite poor at hiring talent. In fact, after growing the company for nearly three years, one bad hire nearly destroyed an entrepreneur’s entire business. One person!
The cost of a bad hire is enormous. If it’s a frontline worker, it can be as much as 4x their salary if you get it wrong. But what if it’s a C-suite or an executive? It can be as much as 15x their salary.
Jim believes you can hire A-players and go through the hiring process much more effectively without even reading their resume by using hiring software like Hireology. Software helps you find the right candidate in much less time and with less bias. You can cast a wider net to attract a variety of different and high-quality talent and stop sorting through all the resumes after that net has been cast.
What kind of assessment tools can a hiring manager or entrepreneur use that goes beyond their own personal opinion about that prospect? Jim wants you to be aware that this is a multi-step process, there isn’t just ‘one thing’ you need to focus on. Jim personally likes to use the Caliper Profile assessment test, but there are others like DiSC and Predictive Index. The reality is we’re just not good interviewers and the mistakes can be costly, so we need to put extra measures in place to ensure we get it right the very first time.
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Scaling Up is the best-selling book, by Verne Harnish and the team at Gazelles, on how the fastest growing companies succeed where so many others fail. My name is Bill Gallagher with Humanisteq Coaching and I’m one of the Gazelles business coaches. We help leadership teams to get the 4 Decisions around People, Strategy, Execution, and Cash right so that they can Scale Up successfully and beat the odds of business growth success. Our 4 Decisions are all part of the Rockefeller Habits 2.0 (from the original best-selling business book, Mastering the Rockefeller Habits).