Tuesday, 26 January 2016

The Key to Success is Having Great People – Finding them Can be a Minefield

According to Yahoo!’s Chairman, Maynard Webb’s post on LinkedIn

“It’s all about people.

We know the key to success is having great people. It’s great people who build great technology; it’s great people who inspire others to do their best work; it’s great people who make a great company.

Consequently, hiring right is one of the most crucial tasks we have. Think of the potential if we got really good at hiring.

Unfortunately we don’t focus enough on hiring and we therefore don’t do a very good job at it. Peter Drucker and others have pegged hiring success at 50 percent. Imagine what productivity would be unleashed and how great our teams would be if we got success 90 percent at the time? There’s very little else that could provide the same kind of return.

Additionally, getting this so wrong comes at a huge cost. According to the book "Who" by Geoff Smart and Randy Street, the average hiring mistake costs 15 times an employee’s base salary in hard costs and productivity loss. That means one hiring blunder on an employee who earns $100,000 annually will cost a company $1.5 million or more. Make 10 of those mistakes a year, and you are out $15 million annually.”

We understand this at ProfilingPeople. Our Job Profiler© system is designed to solve the problem of who is the best person to hire. This interactive process will establish the exact attributes required for success.