Posts Tagged Hiring Success
It turns out that anyone can be in the top 25% with the right job, the right company, and the right hiring manager. But this is a rare event despite having spent $400-500 billion in job postings and HR tech in the past 25 years in the hope of matching the perfect job with the perfect candidate.
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The worst question about career goals is something like, “What’s your major career goal for the next five years?”
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While it’s hard to believe that a single hiring mistake could cost a company $400 thousand, it’s not so hard to believe when looking at this table showing the incremental profit contribution of employees at these well-known companies. The idea behind this table is that it shows the full financial and business impact a person has on a company, rather than just considering the person’s compensation package.
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In a post earlier this year I claimed that too many people change jobs for all the wrong reasons. Most often it's for the stuff at the bottom of the "Maslow's Hierarchy of Hiring Needs" graphic above, rather than the stuff at the top. Unless they're (very) lucky, the result is always disappointment, dissatisfaction and regret.
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In my semi-retired state, I’ve decided to give away my best secrets for recruiting and hiring the top 25% with a new type of training program. Many of them are highlighted in the infographic above. You'll be able to learn and apply them all just by reading Hire with Your Head (4th ed, Wiley. September 2021) and becoming a participating member of our virtual book club.
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On September 22, 2021, the 4th edition of Hire with Your Head will be published by John Wiley & Sons. As part of the totally revised edition, I reviewed some of my favorite posts from the past few years and incorporated them in the new book. The following is a slight rewrite of one that appeared on LinkedIn’s Talent Blog a few years ago.
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More than 40 years ago the #1 recruiter in the world told me that applicant control was the key to making 2-3X as many placements per month. It took me one full year to master the technique but my placement rate soared by over 3X during the next 18 months as a result. More importantly, 75% of these candidates who were subsequently placed over the next 25+ years (more than 600 people!) were either assigned to stretch projects or got promoted during the first year. Just as important, less than 10% left during the first year.
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I was just finishing up the 4th edition of Hire with Your Head (Wiley, Q3 2021) when a call came in from a talent leader asking about the cost for training her 30-35 hiring managers to implement Performance-based Hiring at her company.
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Over the past 40+ years I've interviewed thousands of candidates for manager, director and VP level positions. Very few of these candidates actually applied for the job being filled at the time. Most were found via LinkedIn or a referral. Nonetheless, I was dumbfounded that many of these people weren’t great interviewees, yet most were all remarkable people doing their jobs.
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One of our clients asked if we could develop a short version of Performance-based Hiring that hiring managers would actually use. Three questions seemed to do the trick as long as the hiring manager first defined job success as five or six key performance objectives (KPOs).
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Lou Adler’s Fourth Edition Book
Hire with Your Head