Hiring the Best Talent - Is Your Organization Putting Its Money Where Its Mouth Is?Chris Young
December 8, 2008 — 2,088 views
With the increased focus on talent management over the past couple of years, I have been hearing a lot of talk from top executives about how their organizations are fully committed to hiring top talent and selecting the right candidate for the job.
There is a lot of talk and little real action.
The cynic inside me cannot help but wonder if these organizations are truly committed to hiring the best employees or if it is just another piece of corporate PR propaganda. After all, who can forget the memorable cliches that have become a part of the corporate lexicon that sends shivers down the spines of the masses?
- Our employees are our most important assets
- We are committed to Customer Service
- We think outside the box
- Total Quality Management (TQM)
- Pay for performance
While these thoughts look great on paper, banners, and other collateral, the truth is that very few companies live up to their own hype. Think about it... How many employees in today's economic climate actually feel like they are their organization's most valuable asset?
Most expendable liability is a more likely answer.
Is all the talk from top executives proclaiming their commitment to hiring top talent to believed, or is it just another round of corporate promises that will continue achieving the same results? Only time will tell...
One thing that I can say for certain though - organizations that are truly committed to hiring the best talent possible put their money where their mouth is. Even and particularly in an economic downturn. This involves a holistic approach to hiring and selection strategy that includes:
- Investing time and resources in training managers to be more effective at conducting job interviews.
- Having patience during the hiring and selection process and the willingness to wait for a candidate that exactly meets the needs of the job and the organization.
- Avoiding the "low bid" and paying candidates what they are worth - even in a down economy.
- Probing professional references to reveal more information about a candidate than what is provided in the typical "canned" reference response.
- Taking the time and resources to truly understand the needs of a job and what traits are predictive of success in a position via a comprehensive job benchmark.
- Using a pre employment hiring assessment to understand what an individual's strengths and weakness to assess the overall job fit to the job benchmark.
- Eliminating favoritism and nepotism from the employee selection process.
- Developing a customized coaching plan for each new hire to ensure that they are able to excel in their new position.
Hiring top talent is not easy. If hiring top talent were easy, then there would not be so many problems with low employee morale, lack of employee engagement and emotional "buy-in". Organizations and teams, and people would not suffer the costly consequences high employee turnover.
Seth Godin hit the nail on the head in a recent and very powerful post titled The 90/10 Rule of Marketing a Job. In his post he states that it only takes 10% of the effort to hire from the bottom 90% of the talent and inversely it takes 90% as much effort to hire from the top 10% of the talent pool.
DEAD. ON. SETH.
Take a look at the list above and be honest with yourself... Is your organization taking the necessary steps and allocating the appropriate resources to consistently select and hire the coveted top 10% of the workforce? Are you rushing the important employee selection and hiring process or are you exerting the 90% needed to hire the best talent? This is where an organization's commitment to hiring the best talent is truly tested.
In other words... Are you putting your money where you mouth is when it comes to hiring the best talent?
Now go Maximize Possibility!
Chris Young is founder of The Rainmaker Group and helps organizations Maximize Possibility through Talent Management, Cultural Transformation, and Strategic Intervention. He blogs at Maximize Possibility.
The Rainmaker Group is a human talent maximization company specializing in helping organization maximize their bottom lines by improving employee retention, hiring the best talent possible, and strategic talent management and coaching services. From the Fortune 50 corporation to the small medical office, The Rainmaker Group guarantees lasting organizational change via a unique blend of energy, insight, and science to maximize talent, transform organizational culture, and provide strategic intervention.