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The Quintessential Survival Guide in the Corporate Quagmire! | |
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Selecting Top Talent: Improve Your Batting Average
I recently gave a presentation to a group of business and community leaders on how to select talent to grow their organization. Given the expense associated with recruiting top performers and the high cost of making poor choices, you would think that those responsible for hiring would follow a systematic process that results in high quality hiring. Yet, I am continually amazed, when reviewing staffing practices, how frequently I find the lack of workforce planning, inconsistent procedures, ineffective interviewing, indecision or a quick decision based on gut feel rather than good data. On the other hand, here are twelve best practices for selecting top talent. Don't shoot from the hip. Have a well-thought-out recruitment and selection process in place. Prepare in advance for interviews. Take hiring seriously. Identify the interview team. Ensure everyone who will interview the candidate has been trained on interviewing techniques. Interviewing well is a learned skill. Develop a role expectation or job description. It's important to have everyone on the same page about what is required. If one person thinks a certain personality type is needed while another thinks differently, then there will be problems deciding whom is the best candidate. Ask behavioral, open-ended questions. Use position requirements to guard against "would do" vs. "have done." It's usually not very helpful to ask candidates "can you do x?" Most likely will say yes because they think they can. Remember, the best predictor of future behavior is past behavior. Instead, ask something like, "Tell me how you handled dealing with x?" Decide who will ask the candidate what questions. It's usually best to divide the questions based on interviewer competency. For example, let finance people ask the finance questions. Take notes and be consistent. I guarantee that you will either forget what the first interviewee said or mix his/her responses with subsequent interviewees if you don't take notes. Ask each candidate the same questions so that you can compare answers and more accurately compare candidates. Make the candidates feel comfortable. Sure, if you make the interview feel like an interrogation you'll know how they respond to questioning under pressure but it's unlikely they'll tell you much revealing about themselves because they will be on the defensive. Don't talk more than 20% of the time. Allow enough time in the interview for the candidate to ask questions. The number and caliber of their questions will tell you a lot about how they think. Be aware of 'selection bias errors. These include hiring a person because he is the freshest in your memory or he made a good first impression or he is or is not the picture of what you had in mind for the position, e.g., male/female, color, height, school, country club, accent, dress, etc. Avoid self-imaging hiring. It's very tempting to pick someone because they think or act like you. That doesn't make the candidate a terrific choice?it depends on the match between the person and the position. Don't over inflate the company. For example, if your company is struggling, don't gloss it over. There really are people who would prefer to take on that type of challenge than to work for a mature predictable company. Do extensive reference checking. Make sure the candidate has actually done what they say they have. Use prepared behavioral questions to verify "have done vs. will do." Marcia Zidle, the 'people smarts' coach, works with business leaders to quickly solve their people management headaches so they can concentrate on their #1 job to grow and increase profits. She offers free help through Leadership Briefing, a weekly e-newsletter with practical tips on leadership style, employee motivation, recruitment and retention and relationship management. Subscribe by going to http://leadershiphooks.com/ and get the bonus report "61 Leadership Time Savers and Life Savers". Marcia is the author of the What Really Works Handbooks resources for managers on the front line and the Power-by-the-Hour programs fast, convenient, real life, affordable courses for leadership and staff development. She is available for media interviews, conference presentations and panel discussions on the hottest issues affecting the workplace today. Contact Marcia at 800-971-7619.
MORE RESOURCES: A look at economic developments around the globe (AP) AP - A look at economic developments and activity in major stock markets around the world Friday: NY's AG isn't backing down from Wall Street probe (AP)
Summary Box: Commodities fall on Greece debt woes (AP) AP - GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth. Most commodity prices fall on Greece debt woes (AP) AP - Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth. Bernanke urges action to heal housing markets (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery. Obama call for manufacturing revival a tough goal (AP) AP - President Barack Obama is making a strong election-year push for an economic revival "built on American manufacturing." But he faces an uphill slog, with little consensus even within his own party on how to do it. Gov't on pace for $1T deficit despite January dip (AP) AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year. Bernanke: Weak housing has hurt consumer spending (AP)
January budget gap shrinks (Reuters) Reuters - The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday. Anxiety over incomes hits consumer morale (Reuters) Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy. Romney appeals to U.S. business with harsh China talk (Reuters) Reuters - Mitt Romney slammed China's "autocratic model" of capitalism in a speech to technology executives on Friday, keeping up attacks on the economic powerhouse days before a visit from a Chinese official expected to be the country's next leader. Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters) Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday. Exclusive: Future of bank benchmark rate under review (Reuters) Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion. Bernanke urges action to heal U.S. housing markets (Reuters)
Spain cuts firing costs in new labor reform (Reuters) Reuters - Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate. Portugal watches Greek debt drama with foreboding (Reuters) Reuters - Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's. Trade deficit widens to $48.8 billion in December (AP)
U.S. jobless rate projected to fall sharply (Reuters) Reuters - Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances. Consumer mood worsens in February on income worries (Reuters) Reuters - Americans felt worse about their personal finances in early February, even as they saw a light at the end of the tunnel for the jobs market, a survey released on Friday showed. Instant View: Consumer mood worsens in early February (Reuters) Reuters - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed. |
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