“The secret of my success is that we have gone to exceptional lengths to hire the best people in the world.” – Steve Jobs
Is your organization’s leadership setting a high bar for excellence? What are your practices for hiring and developing superior leaders, leaders who can ignite your organization to greater performance?
At Llumos, we believe that stocking your organization with great leaders is not a process left to chance. Yet, many still cling to age-old methodologies for hiring and promotion that are about as accurate as the flip of a coin. For example, how many of these strategies or pitfalls do you find yourself using?
- Relying heavily on ‘gut reaction’ to a candidate (followed closely by its cousins, hiring someone you know or hiring someone who reminds you of yourself)
- Hiring the resume (rather than the person)
- Using trick questions to try and catch the candidate off guard
- Overusing hypothetical scenarios which allow the candidate to hypothesize what they might do, versus what they have done
- Basing most of your hiring decision on personality tests or other psychometric data
- Hiring based on need/expediency to fill the position
While some of these may be familiar or comfortable, research shows that what you ask in an interview is critically important to predictive success on the job. Meta-analytic studies estimate the predictive validity of interviews range from .37-.57, with the structure of the interview being a primary moderator. This means that 25% of an individual’s job performance can be explained with a well-designed interview.* With the cost of a bad hire estimated anywhere from 4-15x salary, putting a great hiring assessment in place is not only a good strategy, but it is also critical for business success.
At Llumos, we believe multi-method assessment strategies are critical to our clients landing the A-player for the job. A sampling of our methodologies:
- Competency-based scorecards for evaluating candidate fit against real job requirements
- Behaviorally-based interviewing methods that focus on actual past behavior (the best predictor of future behavior)
- A structured interview process with an experienced, well-trained assessor
- Selective use of well-validated psychological tools
- Simulation-based assessments that provide real-time insight into candidate behavior
- An in-depth reference check information
- Candidate-to-candidate comparisons
Take a look around your organization: are there A-players as far as the eye can see? If so, congratulations! You know how to hire and keep an all-star roster. On the other hand, if that list above feels a bit close to home, perhaps it’s time you contacted us. We will help you select and develop the very best leaders to ignite your organization to new success.
Our clients report a 90+% success rate in hiring the right candidate using our strategies. Come find out what makes this process so unique and how it can increase your odds of making a great hire, every time.
*Thank you to Sean Baldwin at HumRRO for help on these statistics.