How to Reduce Costly Mis-Hires by Dr. Brad Smart author of "Topgrading, 3rd Edition: The Proven Hiring and Promoting Method That Turbocharges Company Performance," and President, Topgrading, Inc.
xtensive research shows that most companies only hire 25% high performers in managerial jobs. The three biggest hiring problems are dishonesty (low performers can hype their resume and fudge their interviews), lack of thorough information (Forrest Gump could fake competency interviews), and lack of verifiability (reference checks are too often worthless).
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Book: TOPGRADING Written By Dr. Brad Smart
2. How to avoid costly
Mis-hiring.
How companies can
win by hiring,
coaching and
keeping the best
people.
3. Frequently regarded as the
worlds #1 expert on hiring
and most experienced
executive interviewer and
coach.
6,500 Interviews in over 200
companies.
Ph.D. in Industrial Psychology
4. Problems of CEOs and Managers
Mixture of talent
Low performers consumes most of the time.
Low performers drag down entire
organization
Brings down best strategies
5. The toughest decisions in organizations are
people decisionshiring, Firing, promotion,
etc. These are the decisions that receive the
least Attention and are the hardest to
"unmake."
- Peter Drucker
6. 14 times more than their salary
Cost in hiring
Compensation
Cost of maintaining person in
job
Severance
Cost of disruption
(-) Value of contribution
7. The single biggest estimated
cost in Mis-Hiring is the
Wasted or Missed Business
Opportunity.
8. Resumes are Deceptive
Candidates lies in interview
Failed to connect (Retaining)
Absence of Scientific Approach
Unplanned Recruitment
Smart Candidates
9. 1. Measure current Success ratio of Hiring
and promotion
2. Job Score card for position
3. Career History Form
4. Truth Serum (TORC)
5. Telephonic screening interview
6. Arrange tandem interviewer
10. 7. Conduct Competency based
interview
8. Master the Advanced interviewing
Techniques
9. Create Executive Summery
10. Conduct reference calls
11. Coach the New hires
12. Re-assess and Measure the
hiring/ Promotion Success