One of the greatest challenges we face in business is finding good people. If you are involved in hiring, you have probably made some poor hires. Maybe you didn't check references, or you didn’t uncover the real “them” in the interview. Whatever the reason, bad hires are made. Would you like to reduce the probability of making this mistake? What if you could increase your ability to truly hire the best person for the job? What would that be worth to you?
The rule of thumb on hiring says it takes at least three to five times base salary to replace someone. So, your $100,000 project manager could cost you a half-million bucks to replace.
For the past several years, I have studied a process called job benchmarking. When you benchmark a position, you create a profile of what it looks like. Then you assess candidates to see how their personal profile matches the job profile. While the interview and background checks are still critically important, the benchmark gives you an objective method, supported by data, to help you make a better hiring decision.
The key to success with this method is creating an accurate profile of the job. A shortcut in this process is to benchmark one to three of your best workers and then use their composite profile as the standard when comparing new candidates. The danger here is that these current employees may be good, but not great. Using their profile as the ideal, you risk hiring a team of moderate, rather than superior, players.
The process starts with a facilitated session to determine key competencies and desired results for the job. Then an online profile is completed for that position. (Several people can complete this online portion to give you a more robust composite.) And presto! You have your benchmark. Candidates then take the same assessments. You compare their responses to those within the job profile. You still have the interview process, but your probability of hiring the right person goes way up, as you can quickly weed out job-seekers who simply do not fit the job.
FireStarter now has two consultants (Steve Brooks and myself) certified to conduct this benchmarking process. Give us a call and let us tell you more. The ROI on this process is high. The peace of mind you get is incalculable.
Look for case studies in the coming months to help you learn more
"Unbelievable, surprising, entertaining… What a great example to have the speaker use actual comments from the President's monthly letter to the membership to drive home his point…"
David A. Bass
Director of Monthly Programs –
New Jersey MPI