1. Get the Right People On Your Bus and Get Your Business Moving Forward!
2006 NAFA Annual Convention Program
September 20, 2006
Wayne Rivers
Phone:
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2. What You’ll Learn
“Misconceptions, Myths, and Old Wives’ Tales” about hiring world class talent
21st Century Recruiting and Hiring
How to build a great business AND a great life simultaneously!
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3. Get the right people on the bus – and the wrong people off!
The Cliffs Notes Version of Good to Great by Jim Collins:
Get the right people on the bus – and the wrong people off!
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4. Owners of Closely Held Businesses:
Tend to be involved in virtually every decision at their companies
Are severely limited and constrained in the time, energy, and attention they can devote to any one task
Are surrounded largely by talent which is MEDIOCRE
Even Michael Jordan couldn’t produce championships without at least one other SUPERSTAR!
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5. Ceiling of Complexity new skills, thinking shift
CRISIS!
Unique Teamwork, New State of SIMPLICITY
shift
new skills, thinking
“old way” based on past experience
ceiling of complexity
Source: Dan Sullivan, The Strategic Coach
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6. Misconceptions, Myths, and Old Wives’ Tales
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7. The Definition of Stewardship
Closely held business owners feel a real sense of stewardship about their employees
A different way of viewing stewardship from a Methodist minister
“ letting the WRONG people hang around is unfair to all the RIGHT people. To let people languish in uncertainty for months or years, stealing precious time in their lives that they could use to move on to something else when in the end they aren’t going to make it anyway – that would be ruthless.”
Jim Collins
Good to Great
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8. Looking At Hiring Employees As a Cost, Not As an Investment
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9. “We’ve Tried to Hire People In the Past, But They Never Seem to Work Out”
Entrepreneurs can get talent, however, they’re not good at hiring GREAT talent!
The typical recruiting, hiring, and training process
Bragging about low employee turnover hides a multitude of sins
Lack of knowledge about HOW TO hire great people; NO PROVEN HIRING SYSTEM
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10. Recruiting and Hiring Methodologies
word of mouth
networking
headhunter
newspaper advertising
web-based resume services
21st Century Recruiting and Hiring
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11. 21ST Century Recruiting and Hiring
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12. The Action Plan The FIVE Priority Objectives: Write job description
Define the target candidate
Determine the search process
The candidate interview, screening, review, and selection process
Evaluation and job offer(s)
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13. 1. Write Job Description Why should we go to the trouble?
3 to 5 page document you’ll use to hire, MANAGE, and EVALUATE your employees
Contains:
Reporting relationships
Summary description
Minimum requirements
Scope of authority
Key performance measures
Job duties, tasks, and periodization
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14. 2. Define Target Candidate
Clone excellent existing employees
Have a specific picture in mind for the perfect employee
Use assessment tools to evaluate current as well as prospective employees
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15. 3. Determine Search Process
Write ad
Solicit responses with cover letter and resume (you’ll get DOZENS of responses!)
Sort into A, B, C quality applicants to screen down to top 15%
Develop and utilize 30 minute telephone interview questions
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16. 4. Candidate Interview and Screening Process
30 minute telephone appointments
Consistent questioning for all applicants
Take notes
Cut the to 15% in half (or more)
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17. 4. Candidate Interview and Screening Process
- continued -
1st round of face-to-face interviews (90 minutes to 2 hours)
Script for consistency
Goal is to cut top 7.5% to about 3%
Have them bring evidence and documentation of resume highlights, examples of quality work
Administer screening and profiling assessment tools
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18. 4. Candidate Interview and Screening Process
- continued -
2nd round of face-to-face interviews (90 minutes to 2 hours)
Put your businessperson’s intuition ON HOLD and stick to the process!
Give challenging homework assignments or skills tests. Don’t be afraid to pile it on!
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19. 4. Candidate Interview and Screening Process
- continued -
3rd round of face-to-face interviews (2 hours)
TEAM interviews
Score the candidates on a 1 to 10 scale for all job requirements, skills, abilities, and outputs (helps take the emotion and rationalization our of the process)
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20. 5. Evaluation and Job Offer(s)
Evaluate the assessments and homework
Check references
Check criminal background, credit report
Make formal, written offer to top prospects
Keep the other top candidate(s) on hold
Negotiate and hire!
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21. 5. Evaluation and Job Offer(s)
- continued -
Housekeeping:
Inform unsuccessful candidates
review and initial the pages of job description
Non-compete, non-solicitation, and non-piracy agreements
Develop separate orientation and training action plan
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22. The Goal
Build a GREAT BUSINESS
and
a GREAT LIFE!
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23. The Family Business Institute’s mission is to provide complete solutions to help family businesses maximize their family and organizational success.
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