There’s a secret sauce correlation!Nov 20, 2021
Churn has a measurable financial cost. And it also grinds on the organization, and you, every time a relatively new team member walks in to give her two weeks notice. And it costs you in mental and social metrics as well.
You’re driving more stress into your professional and personal life every time, every time, that person stands at the door on her last day and hands you an empty Wal-Mart plastic bag. No process documentation or improvements.
How can there be when her skills tell her the solution is “I’ll ask Siri!”
If you are an RPO recruiter, will the word get around that you grind out skill sets from ATS key word matches instead of looking for winners and the talent that becomes an immediate cultural fit? There’s another way to do this hiring thing.
It’s a data-driven connection between talent and winning.
But how much does talent actually matter? Nearly 20 years have passed since McKinsey introduced the idea of a war for talent, yet most organizations seem to struggle with their talent management practices. For example, a recent industry report by Deloitte based on over 2,500 leaders from 90 countries showed that most employers are ill-prepared to tackle key talent identification challenges.
A few talented people make a huge difference.
This is one of the most replicated
findings in management/leadership research. In any organization or group, a few people will make a disproportionate contribution to the collective output. Around 20% of individuals are responsible for 80% of the output and vice-versa. This Pareto Effect has been found in virtually any domain of performance. As academic reviews have highlighted, a Pareto effect illustrates the distribution of scientific discoveries, publications, and citations; entrepreneurial success and innovation; and productivity rates. In all these areas 20% of individuals (or less) tend to account for between 80 and 98% of performance.
Thus talented people – the vital few – are the main driver of a company’s success, and companies will see much higher returns on their investment if they devote more resources to the few people who are making a big difference, as opposed to trying to make the “trivial many” more productive.
Oops! Didn’t we just experience the beginning of the Great Resignation Tsunami?
And aren’t we dealing with the hangover side effects of the Applicant Tracking System (ATS) funnel as it pours out the endless matches between key words and skill sets.
And are these new team members really winners?
Here’s an opportunity for you to resolve the question of “how to hire better”. How to find, attract and hire winners. How to be measurable inclusive in your hiring. If we are having a conversation, it would come down to this: here’s your chance to change the world.
Hire talent. Put these tools in your back pocket and succeed by being radically open-minded and agile in your ability to change and become your better you.
Navigate to these resources and see how quickly an investment of less than $75 will put you into the “superhero” class of human resource high performers.
#leadership #emotionalintelligence #crazysmart #gapanalysis #hiringtalent #authenticity
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