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April 1, 2010 - ISSN# 1545-2646
Back in the 1800’s when the gold rush hit the western United States, there were many to chase the dream. Some made it big but many did not. Some unfortunately discovered a thing called pyrite or fools gold. Looks like gold but had no monetary value.
To the untrained eye, pyrite was gold. It possessed the luster, color and similar weight. Miners would stake their claim and invest their futures on an unproven rock that would ultimately take down their dreams and their investments.
This same challenge takes place when looking for talent to build your organization. Many available people but which are real gold and how many are fools gold?
I was discussing this challenge with a new business owner. He had accepted an early buyout from his corporation and was now starting up his own business. He was excited and had lots of energy. Unfortunately he had very little experience in acquiring employees for his new business. He had previously hired people in his old position with the help of a Human Resource specialist.
He was priding himself on how good his instincts were at identifying the best possible person for his company. I informed him that a recent study conducted at Michigan State University had determined that interviews alone had a track record of being only 14% effective or accurate. Although it was surprising to him, he was fortunate that our paths had crossed.
We proceeded to discuss the realm of job modeling, behavioral interviewing and other tools to bring proper light and insights on candidate assessment that reduces personal bias. We also discussed the opportunity to engage these new employees quicker so both the organization and the employee would have a positive experience and contribute to the bottom line faster.
The bottom line here is, don’t be an 1800’s gold miner investing your future only to find fools gold in your next or existing employees. This combination is not good for either party. The company does not win and then employee does not win. You owe it to the candidate to help them be the best person for the job. Betting on your own personal instincts in the recruiting game is only a 14% accurate bet.
At JKL Associates we can help you improve your odds and give you insights so you are not panning for Fools Gold in the stream of available talent in the marketplace. Give us a call to start a rewarding discussion.
Questions or comments - email us at partners@jklassociates.com or call our Office at (313) 527-7945
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Copyright - JKL Associates 2010
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