So you're hiring. What has your success rate been?
Your interview process is broken and it is like driving on a busted road.
You have no real way of screening to see if the candidate is:
*Strong Analytical Skills
*Strong Problem Solving Skills
*Good Communication Skills
*Every Other Skill You Do Not Know How To Measure
Many interviewers actually fail at determining if a candidate has those types of skills.
What often occurs is that the candidate sees the job posting and then tries to convince the hiring manager that they, in fact, have those qualifications, and the hiring managers lack objective data to verify if that is true.
They were professionals. They had many years of training, education, and experience. They knew what made someone successful in their context because they themselves were successful. Yet, every time they sat around the hiring table they feared that it would be like last time, another Bob incident.
It was only a few months ago that Bob was sitting around that table as a potential candidate. Bob had a polished resume, great experience, was able to answer all the questions, and his references checked out. Yet shortly after Bob began, trouble brewed. When it came to technical skills, Bob was great. In fact, Bob was an all-star in his field and most companies would have loved to have a 'Bob'. Yet the way that Bob processed information, problem solved, managed change and faced risk just did not line up with the culture.
As the hiring manager and a few other leaders sat around the table waiting for their next candidate to come in they really hoped they would not hire another Bob. Yet even after reworking their interview questions, they weren't quite certain how to make sure that this hire would be different.
As you are aware the costs of hiring are often in the $1000s of dollars even for entry-level positions. Those costs skyrocket into the $10,000+ range as you hire more senior levels. If you use a hiring agency the cost of hiring alone could be $30,000 or more. So it only makes sense to hire right the first time to save on the cost and have the right person in place.
If you are not aware, the hiring success rate is right around 50% which is fairly poor and means you are paying the hiring costs twice, which could easily amount to $5,000 for entry-level positions and even more for more senior positions At DC Leadership Training & Consulting we help solve that problem by running top candidates through an assessment that reveals information about the person that you will never uncover from an interview.
Here are some statistics on hiring failures:
* 46 percent of all new hires fail within 18 months (Source: Leadership IQ.)
* 40-60 percent of management new hires fail within 18 months (Source: Harvard Business Review.)
* Nearly 50% of executive hires fail within 18 months (Source: The Corporate Leadership Council.)
* Only 19 percent of new hires can be considered an unequivocal success (Source: Center For Creative Leadership).
WHY HIRING FAILURE OCCUR OVER & OVER
Here are 2 reasons:
1) 75% of the decisions made during most corporate recruiting processes are made by humans relying on their own intuition, rather than data (https://www.visier.com/clarity/measure-new-hire-failure-rates/)
2) Hiring Bias such as confirmation bias, groupthink, conformity bias, anchoring bias, comparison bias, haloing effect, etc, sabotage critical screening of applicants.
At DC Leadership Training And Consulting we offer a solution to these common hiring pitfalls.
By using a profiling tool to benchmark the job description we provide objective data for the hiring manager/team to use so that they do not fall prey to one of the many hiring biases.
The tool that we use enables a selection committee or individual responsible for hiring to create a strengths-based benchmark of the position being filled before the selection process begins.
These are some of the most powerful and comprehensive tools available today.
We will bring in a layer of objective data that would otherwise be missing. You still retain full control of who you hire!
If you want to hire better, we want to do business with you!
Don Cruickshank, MALM (Masters in Leadership & Management)
*Certified in Team Leadership
*Leading From Your Strengths Certified Trainer, Coach, Consultant
- Empowering individuals and organizations towards creating successful futures