Win-Win Hiring means that after the first year both the hiring manager and the person hired still agree it was the right decision with no regrets.Continue Reading →
Archive for Quality of Hire
While inquiring about the status of a hiring manager interview training proposal, a client told me she would get back to me as soon as they got their budget approved for next year. As part of our discussion, I asked how much they included in their budget for bad hires.
My client’s answer was that she hadn’t given this much thought, but she was intrigued by the idea. She also asked how she could figure out the cost of bad hires since it was an obvious and recurring cost, but one that was hard to put a number to. Some of the cost was taken by the legal department, but most of it was in lost performance and hard to even begin to calculate.Continue Reading →
Separating sourcing from recruiting never made a lot of sense to me. Many sourcers never even talk to candidates and just pass a list of names to a recruiter. But the best candidates, whether they’re active or passive job seekers, always have multiple opportunities and convincing them your opportunity is worth considering involves just as much recruiting as sourcing. So the key is to do both to keep the best people engaged throughout the hiring process — and if you do make an offer, it shouldn’t be tied to a big increase in compensation. Here’s how to get started:Continue Reading →
Take a moment to consider the following: If your company hires 100 people in the next 12 months, that’s an annual increase in compensation costs of at least $10 million if you factor in an average total compensation of $100,000 per person. Clearly, the total cost of hiring dwarfs the cost per hire, and no matter how you cut it, that’s a lot of money. Unfortunately, much of this spend will be wasted by hiring the wrong people.Continue Reading →
Early in my career, I had the good fortune to work as a financial analyst for a Fortune 50 company. During a meeting where the president of a $2 billion group was presenting his business plan for the next year, he was lambasted by the corporate CEO with the following:Continue Reading →
Why Candidate Experience Should Start with the Job Description — and Continue Well After the Hire Date
To set the record straight, I believe that providing an extraordinary candidate experience for serious and well-qualified candidates is essential. After all, you’re affecting these people’s lives and it’s important for them to have all the information they need to make the right career decision.Continue Reading →
I’ve long contended that personality style tests like Predictive Index, DISC and Myers-Briggs are inappropriate for screening candidates in or out before they’re interviewed. The problem is that these tests measure preferences, not competencies. More important, most people can modify their preferred style to meet the needs of the situation, something not even considered by these types of questionnaires. As a result, there are just too many false positives and false negatives to make these types of tests good enough for filtering candidates early in the hiring process.Continue Reading →
In my 40+ years of recruiting, I’ve learned that recruiters often make a critical mistake in assessing a candidate for a position. Simply put, they think a candidate’s motivation to get the job (such as being prepared and on-time for the interview) is the same as their drive to do the job once they’re hired.
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Whether a person will accept a job offer, reject it, or back out later should never come as a surprise. Any surprise factor can be avoided as long as you follow some fundamental recruiting techniques.
The most important: Never make an offer you’re not absolutely sure will be accepted.
Underlying this rule is the need to test every component of an offer to determine if the candidate will accept it before formalizing the offer in writing.
Testing can be as simple as asking the candidate if he/she would accept a fair offer and be able to start by a certain date. Any evasiveness is a clue the offer won’t be accepted.
A more formal approach to testing involves getting “yes” answers to the ten following questions. It’s important to note that getting a “no” is not a bad thing. Converting the “no” into a “yes” is called recruiting.Continue Reading →
With the birth of the Internet and job boards in the 1990s and the emergence of ATS around 2000, the high-touch, “quality is #1” approach was losing favor. Companies thought they could “win the war for talent” using technology to reduce the cost per hire.Continue Reading →
Three weeks ago, I met with a bunch of CEOs who are members of Vistage, an organization helping small and mid-size companies grow and manage their businesses. One of their biggest challenges is finding and hiring the right people. At the meeting, they all complained that the recruiters they were using were inadequate. They said few understood the job requirements or the company and all presented too many average candidates.Continue Reading →
Raising the talent bar involves consistently hiring people who are in the top half of their peer group. If this is a strategic talent acquisition goal for your company, you need to consider these fundamental truths about hiring people who are already in the top half:Continue Reading →
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