Aug 24, 2016
A Certified Gazelles Coach with quite a rich background, Jim Jubelirer helps leaders improve their business performance and personal satisfaction. He also speaks to a wide variety of audiences about leadership and business excellence. On this episode, Jim and I expand upon a topic the show has covered in the past and that's people! People seem to be the biggest challenge and resource for entrepreneurs and other business professionals.
So, how can we get the right people on the bus? Through the use of Topgrading methods. Jim expands on how you can apply Topgrading with software tools and how you can effectively use the assessments Topgrading provides to gain a different perspective. Jim also provides key tips on how to hire effectively.
Topgrading tells us that only one in four people turn out to be a top performer, which means around 75% of people you hire don't move the needle in terms of culture and performance. Poor performance is one of the top complaints among growth companies.
Companies are quite poor at hiring talent. In fact, after growing the company for nearly three years, one bad hire nearly destroyed an entrepreneur's entire business. One person!
The cost of a bad hire is enormous. If it's a frontline worker, it can be as much as 4x their salary if you get it wrong. But what if it's a C-suite or an executive? It can be as much as 15x their salary.
So, what if Jim told you that you could hire A-players and go through the hiring process much more effectively without even reading their resume? Well, it's true. You can stop reading resumes!
You can now cast a wide net to attract a variety of different and high-quality talent. The biggest concern for entrepreneurs is that they don't want to sort through all the resumes after that net has been cast, but through the use of software like Hireology, you can now find the right candidate in much less time.
There is a lot of testing and measuring to get it right in the beginning. But once you have it dialed in, it can give you a lot of power to assessing talent and saving you from those costly hiring mistakes. You can apply this method to any industry as well.
What kind of assessment tools can a hiring manager or entrepreneur use that goes beyond their own personal opinion about that prospect? Jim wants you to be aware that this is a multi-step process, there isn't just 'one thing' you need to focus on. Jim personally likes to use the Caliper Profile assessment test, but there are others like DiSC and Predictive Index. The reality is we're just not good interviewers and the mistakes can be costly, so we need to put extra measures in place to ensure we get it right the very first time.
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Scaling Up is the best-selling book, by Verne Harnish and the team at Gazelles, on how the fastest growing companies succeed where so many others fail. My name is Bill Gallagher and I'm a certified Gazelles business coach.
We help leadership teams to get the 4 Decisions around People, Strategy, Execution, and Cash right so that they can Scale Up successfully and beat the odds of business growth success. Our 4 Decisions are all part of the Rockefeller Habits 2.0 (from the original best-selling business book, Mastering the Rockefeller Habits).