Cracking the Talent Code
Why do companies continue to make bad hires?
According to this SHRM article, a 2012 survey conducted by CareerBuilder about why companies make bad hires, revealed that 43 percent of respondents said they made a bad hire because they felt they needed to hire someone quickly. If you have ever been responsible for hiring someone, you most likely understand this feeling of urgency. Unfortunately, it is not productive and costs U.S. companies trillions – yes trillions – each year. We need to consider a different approach.
Abe Lincoln coined the famous quote, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” The slow way is the fast way.
I am currently going to physical therapy (PT) to heal and strengthen my left shoulder. It bothered me for a long time before I finally decided to go through this route of healing. Doctors wanted to take the fast approach of throwing rest and pills at the issue. That only masked the pain and didn’t bring healing. After months of struggle, I asked if I could try PT. I have been going for a few months and am seeing slow improvement. This has involved research into my shoulder issues by my physical therapist, proper treatment, and hard work on my end to strengthen (not rest) my shoulder. The slow way is the fast way.
Finding skilled employees is a significant investment of time, resources, and money. Companies cannot afford to retain a wrong hire. So how can we break the talent code and hire right the first time by taking it slow? Let’s look at some vital steps…
The Society for Human Resource Management teaches HR professionals to analyze, strategize, and create goals then measure, measure, measure.
Here are some things to consider when working on your talent acquisition plan:
- Analyze the company for talent needs.
- Strategize how the talent will be incorporated into the company while considering the company’s strategic plan.
- Assign and write down your goals for accomplishing the talent needs.
- Execute and measure.
In the video The Open Talent Economy, Josh Bersin, Bersin by Deloitte, says, “Don’t look at talent as an expense but as an investment.” Investing time in researching and planning your talent strategy will pay off in the long run.
Clear Leader Group can help you effectively and efficiently put the right people in the right seats. We use scientifically-validated tools to help businesses design role requirements, hire the right people, inspire their teams so they stay engaged, and diagnose culture problems. Contact us today and we will help you put the right tools in place to crack the talent code.