Upload
belong
View
307
Download
1
Embed Size (px)
Citation preview
WEBINAR HOST FEATURED GUEST FEATURED GUEST
Aadil BandukwalaSocial Talent Evangelist
Belong.co
@aadil
Tarun DavdaManaging Director
Matrix Partners India
@tarun_davda
Alex PeterVP Human Capital
Matrix Partners India
@alexpeter1201
According to the Harvard Business Review, as much as 80% of employee turnover is due to bad hiring decisions.
Source: http://insights.dice.com/report/the-cost-of-bad-hiring-decisions/
In fact, according to a study by the Society for Human Resources Management, the true cost of a bad hire could be 5X a bad hire’s annual salary!
Most successful Founders / CEOs spend as much as 30% of their time in Org Building. Some
of the best ones spend as much as 50% and consider it their #1 Strategic Priority and Focus
TARUN DAVDA9
THE NEED
BUSINESS IMPACT
Stay Ahead of Competition
Keep Attrition & Engagement in
Check
The Secret to Success - A Well Thought Out
Hiring Plan
Reduce Your Time to Fill
Expect the Unexpected
Avoid Panic Hiring
As many as
80-85% candidatesseeking high-level jobs and
40-45%looking for ones lower down the order are
using the online medium to hardsell their professional and academic achievements.
However...Source: http://bit.ly/29LqHSt
53%of all job applications contain inaccurate information
49%of the hiring managers surveyed had caught a job applicant fabricating some part of his/her resume.
Source: http://bit.ly/2aqt2U8
Reference Checks & Background ChecksTwo Different Worlds Altogether
BACKGROUND CHECK
ObjectiveLook up and gather job-relevant criminal, commercial, and financial records of an individual
Modus OperandiCheck Employment Records, Educational Records, Criminal History
REFERENCE CHECK
ObjectiveA means of protecting against in another type of liability – that of hiring a poor performer.
Modus Operandi Validate Candidate’s Personality via Peer Recommendations, Leadership abilities & Like Quotient
Development can help great people be even better - but if I had a dollar to spend, I'd spend 70 cents getting
the right person in the door.
PAUL RUSSELL
“
It costs
$7,000to replace a salaried employee,
$10,000to replace a mid-level employee, and
$40,000to replace a senior executive.
Source: http://bit.ly/29R7zrV
66% of employers said they experienced negative effects of bad hires.
Of these employers, 37% said the bad hire negatively affected employee morale.
Another 18% said the bad hire negatively impacted client relationships.
And 10% said the bad hire caused a decrease in sales.
Source: National Business Research Institute: http://bit.ly/29JgM4n
BLINDREFERENCE CHECKSThe New Age Talent Advisor’sShining Armor
Help Filter Profiles that *Look Great* but
in reality aren’t
Helps put a Structured SWOT together
Helps you focus on the Fit
Helps the interviewer prioritize where to
focus and probe during the interview
RecruitingProcess at Matrix
Role Definition
Talent Advisor to source profiles.
Run BRCs
If good, schedule interviews
Else, back to sourcing.
46% of 2000 new hires failed within 18 months for attitudinal reasons.*
A candidate’s past workplace behavior is a clear indicator of his or her future workplace behavior.
References provided by former supervisors and co-workers can help predict the likely success of a potential employee.
Source: *Hiring for Attitude” by Mark Murphy, 2012, LeadershipIQ
75%of the demand to hire new employees is simply to replaceworkers who have left the company.
43%of respondents cited the need to fill the positions quickly as the main reason that bad hires are made
Source: http://bit.ly/2adiCek
Hiring Above the Mean Vs Hiring Above the Minimum
A Players Bring in A Players.
B Players Bring in C Players. Which results in a significant drop in
average capability.
I am convinced that nothing we do is more important than hiring and
developing people. At the end of the day you bet on people, not on strategies.
LAWRENCE BOSSIDY
“
Be a Trusted Talent Advisor to Your Business Leaders
Build the Opportunity Description, not the mandate.
Establish Candidate Persona
Partner with Hiring Managers on the what’s and why’s of their Ideal Candidate
Persistence yields Results
Go beyond *just skills*.
Embrace the Sniper Approach from Guerrilla Warfare
Increase probability of hiring A-players
Minimize the chances of Bad Hires
Case Study:
Hire 5 Leaders in 45 Days:
CFO, CMO
Head of Customer Success
Head of Operations & Strategy
Head of Digital Marketing
Hiring is now widely recognized as a core skill that a founding team must have, in
addition to product-tech and sales -marketing.
DAVID SKOK
“
Recruiting & Deal Sourcing draw similar parallels
DEAL SOURCING
Successful VCs have a specialized
Outbound Origination Program
Successful VCs Create investment
opportunities, instead of waiting
for opportunities to appear
Use Deal Signals to Source Deals
RECRUITING
Forward thinking firms are embracing
Outbound Hiring for Niche & Senior roles.
Successful firms use unique practices
like leveraging Hiring Managers Networks
to find Hidden Gems
Use Passivity Signals & Machine
Learning to track Top Talent Movement
THE 8 COMMANDMENTS TO HIRE GAME-CHANGERS
1. Optimize your hiring strategy
2. Recruitment is everyone’s priority
3. Know your candidate
4. Validate decisions with data
5. Never settle for good enough
6. Invest in people, not resumes
7. Know your target talent pool
8. Always be learning