5 Most Costly Hiring Mistakes

Presentation Transcript
1. The 5 MOST Costly Hiring Mistakes Companies Can Make Newly Developed Technology Exposes Why… You’re MISSING the BEST Talent for Hire

2. Sound Familiar? • AreYou Seeing More 
 Less Qualified Applicants? • Is It Taking Longer to Fill the Right Position with the Right Person? • AreYou Experiencing Interview Fatigue Trying to Fill AllYourVacancies?

3. I’ll show you how to reduce this by up to 78%, but first…

4. Times Have Changed… • 20Years Ago a Single Ad 
 Would Bring in 5-7 
 Résumés a Week • Because of Certain 
 Hiring Breakthroughs,Today, a Single Ad Can Bring in As Much As 200 New Résumés a Week!

5. Hiring Breakthroughs • 1994: Robert McGovern was the First to Host a Job Posting Online1 • 1995: LATimes, Boston Globe, ChicagoTribune, NewYorkTimes, San Jose Mercury and Washington Post Create CareerPath.com2 • 2003: LinkedIn Launched3 • 2013: CVirtual IntroducedVideo Interviews Sources:
 1. Peter Behr, David Segal, “High-Tech Turks Lure Big-Buck Backers; Outside Investment Grows but Trails Other U.S. Centers”, The Washington Post, Nov. 4, 1996, pg. F05! 2. Jesus Sanchez (1995, October 18), “THE CUTTING EDGE: COMPUTING / TECHNOLOGY / INNOVATION; 6 Papers Launch On-Line Help-Wanted Classifieds; Advertising: With 23,000 entries, employment service initially will be free to job-seekers :[Home Edition]”, Los Angeles Times ,p. 4. Retrieved December 18, 2008! 3. http://www.linkedin.com/about-us

6. Where’s the Market at Today?

7. I know this looks like my kids scribbled all over it, but it actually is very important because job market problems today lead to hiring problems tomorrow.

8. The Beveridge Curve Source:” http://en.wikipedia.org/wiki/Beveridge_curve • “A graphical representation of the relationship between unemployment and the job vacancy rate.” • “Higher levels of unemployment… imply decreasing efficiency in the labor market.” • “Inefficient labor markets are due to mismatches between available jobs and the unemployed.”

9. In Other Words… Many of the Current Job Seekers Do NOT Have the Skills Necessary to Be Hired for the Jobs They’re Applying for

10. US Job Market Snap Shot • 119,335,000 Employed Workers Currently Seeking Better Employment Source:” http://www.recareered.com/blog/2012/03/13/just-how-many-job-seekers-are-looking-for-work/

11. 27.1% Searching for Employment Passive Job Seekers

12. Job Market Snap Shot • 12,806,000 Currently Unemployed Searching for Work Source:” http://www.recareered.com/blog/2012/03/13/just-how-many-job-seekers-are-looking-for-work/

13. More Than 5.5 Million People 
 Have Been Unemployed for 
 6 Months or Longer!!

14. Job Market Snap Shot 119,335,000 US Employed Workers Currently Searching for Better Employment 12,806,000 Currently Unemployed Searching for Employment Source:” http://www.recareered.com/blog/2012/03/13/just-how-many-job-seekers-are-looking-for-work/ + 132,141,000 People Currently Competing for Employment

15. For Every Job Opening Available There Are 2.6 People Competing for That Position

16. • 7,600,000 Applied for 65,000 Starbucks Jobs • 1,000,000 Applied for 2,000 Proctor and Gamble Openings • 2,000,000 Applied for 7,000 Google Openings Source: http://knowledge.wharton.upenn.edu/article/why-the-job-search-is-like-throwing-paper-airplanes-into-the-galaxy/

17. Source:” http://www.dailymail.co.uk/news/article-2352011/Up-160-graduates-chase-job-Leading-firms-increase-number-applications-role.html

18. Does Competition… • Bring Out the Best? • Meaning: Does the cream rise to the top? • Bring Out the Worst? • Meaning: Does it take longer than normal to find the right candidate because they’re getting lost in all the clutter?

19. Source:” http://career-advice.monster.com/job-search/company-industry-research/despite-unemployment-many-jobs-hard-to-fill-hot-jobs/article.aspx

20. Technology: Blessing: Now More Than Ever an Employer Can Reach Hundreds, If Not Thousands of Job Seekers or… Curse: The Same Employer Can Have Their Post Overlooked Because of Every Other Competing Job Post Out There

21. Source:” http://www.craigslist.org/about/factsheet

22. Source:” http://www.careercast.com/career-news/employers-craigslist-job-postings-contain-hidden-cost

23. Sound Familiar? • AreYou Seeing More 
 Less Qualified Applicants? • Is It Taking Longer to Fill the Right Position with the Right Person? • AreYou Experiencing Interview Fatigue Trying to Fill AllYourVacancies? • NowYou Know Why!

24. What No One Is Willing to Talk About

25. The True Costs of a Bad Hire

26. Source: ” http://www.nbrii.com/resources/infographics/nbri-infographic-thecostofabadhire.png Average Hiring Costs Total = $32,500 $500 Advertising Expense $2,500 Interview Costs $7,500 Hiring Costs $22,000 Training Costs

27. What About… What Will All That Cost You? • Loss Productivity Costs • Disruption Costs • Missed Opportunities

28. Source:” http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/

29. Are You Settling?

30. What isYour Hiring Process Like? • You’re Presented with 8 
 “Qualified” Candidates • You Choose to Interview 6… • After 6 Hours of Interviews 
 No One Stands Out • Interview Fatigue Begins to Set In • What DoYou Do? • DoYou Settle for Good Enough?

31. Source:” http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/

32. Source:” http://www.inc.com/tom-searcy/the-problem-with-being-good-enough.html

33. AreYou Accidentally Building a Good Enough Organization?

34. WouldYou Agree?

35. Source:” http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/

36. You Can Hire the Best, But FirstYou Need to Watch Out for…

37. 5 Hiring Mistakes Companies Make 1. Overusing the Same Job Boards 2. Not Utilizing Facebook 3. Relying Too Much on LinkedIn 4. Ignoring Twitter 5. Not LeveragingVideo Interviews

38. 1. Overusing the Same Job Boards • Problem:
 Going After the Same Hiring Pool

39. Source:” http://blogs.hbr.org/cs/2013/03/why_employers_arent_filling_th.html

40. Job Boards Only Target Active Job Seekers • You’re Missing Out On the 
 Hidden/Passive Job Seekers • You’re Not Finding the Ones
 Who Are Not Looking

41. 2. Not Using Facebook • Problem:
 Not Using the “Facebook Stalk” to FindTopTalent

42. Source:” http://techcrunch.com/2011/11/16/social-recruiting/

43. 3. Relying Too Much on LinkedIn • Problem:
 Using LinkedIn asYour Go-To Hiring “Silver Bullet”

44. Source:” http://www.fastcompany.com/1815993/fast-talk-meeteor-facebook-stalk-job-you-want

45. LinkedIn’s Main Goal is for People to Network How Many Business Professionals
 DoYou Know Who Are Still Not 
 on LinkedIn But Are on Facebook?

46. 4. Ignoring Twitter • Problem:

47. Source:” http://www.cbsnews.com/8301-505143_162-40245242/how-to-use-twitter-to-find-amazingemployees/

48. 5. Not Leveraging Video Interviews • Problem:
 WastingTOO MuchTime Interviewing

49. Spending All Day or Several Days Interviewing? Video Interviews Reduce the 
 Amount of TimeYou Spend
 Conducting Face-to-Face 

50. Who ALREADY Uses Video Interviews… You?

51. Source:” http://www.businessweek.com/smallbiz/news/coladvice/book/bk981106.htm

52. Source:” http://www.perfectlaborstorm.com/2012/recruitment-2/how-many-job-applicants-does-it-take-to-find-one-qualified-candidate/

53. The BEST Way to Find Top Talent FAST!

54. Virtual Interviews… …Create a Faster Time-to-Hire …Reduce Travel Expenses …Produce a Sustainable Hiring Model

55. Virtual Interviews… …ExpandYour Candidate Pool …Can BeViewedVirtually Anywhere …Reduce Interview Fatigue …Are Easy to Use

56. Source:” http://www.businessweek.com/smallbiz/news/coladvice/book/bk981106.htm

57. Source:” http://staffingtalk.com/are-video-interviews-becoming-the-norm/

58. Easy As 1-2-3 3. Review Recorded Interviews at Your Leisure 1. Choose and RecordYour Questions 2. Send OutYour Virtual Interview Link + +

59. Recording Your Questions • RecordYour Own • Choose from a List of Pre-Recorded Questions

60. Post an Interview Link • Send OutYour Interview Link to Their Applicant Pool or • HostYour Link on a Job Board or Social Media Site

61. Review AtYour Leisure “Can you see how much easier it will be to find the right person for the job?”

62. Streamlined Process • OnceYou’ve Found the Right Candidate for the Right Position… • Invite Them in for Live Interview

63. CanYou Do This OnYour Own? Of CourseYou Can! BUT…

64. and • You’ll Still Have to 
 Coordinate Schedules • Eliminates Reviewing at 
 Your Leisure • Hope that Technology 
 Works Properly • Can’t Be Recorded or Shared

65. But There’s Still 
 One Problem… LiveVideo Interviews Are 
 Nothing More Than an 
 Untested Resume

66. • You Can Review atYour Leisure • BUT Their Interview 
 Is Also Scripted • You Only See What They WantYou to See “Take 57”

67. What This Hides… • All the Non-Verbal 
 Communication They 
 Don’t WantYou to See • 93% of All Communication is 
 Non-Verbal • 55% is Physiological • 38% is Tonal • Only 7% Are the Words Used Source:” Mehrabian, Albert (2009). “”Silent Messages” – A Wealth of Information About Nonverbal Communication (Body Language)”. Personality & Emotion Tests & Software: Psychological Books & 
 Articles of Popular Interest. Los Angeles, CA: self-published. Retrieved April 6, 2010.

68. Step Backwards… • Your Job is to Find the 
 BEST Possible Candidates 
 and Hire Them • Trying to Figure Out New 
 Technology Only Adds to 
 Your Already Overwhelming 
 List of Duties

69. A Tale of Two Hiring Managers

70. A Day in the Life of… Traditional Tom Savvy Shaye

71. Hiring Decisions… Traditional Tom Tries to Find His New 
 Hire on His Own Shaye Uses a Recruiter who Uses Virtual Interviews to Help Her Find Her New Hire

72. Weeding Out Process… • Both Tom and Shaye’s Recruiter Receive Résumés from 200 “Qualified” Candidates • 150 of the Applicants Don’t Meet Their Needs

73. Finding the Best… • 50 Candidates is Still Too Many • Both Parties Narrow it Down to the 
 Exact Same 20 Applicants

74. No Substitutes… • Tom Interviews Who He Feels
 Are the Top 6 Candidates • Missed the Real Winner • Screening Will NEVER 
 Replace a Live Interview

75. Tom’s Interviews… • After 6 Hours of Interviews 
 Tom is Ready to Call it Quits • On Paper Each Applicant 
 Looked Like They Were the 
 “One” • Not Only is Tom Tired BUT He’s Now Behind on His Normal Work Load • Late Night for Tom • Does Tom Settle?

76. TheVirtual Interview Difference • Shaye’s Recruiter Sends Over 20 
 Résumés Accompanied with 20 
 Virtual Interviews • More Choices atYour Disposal • More Really is Better

77. Shaye’s Interviews… • In the Time it Took Tom to Perform 2 Live Interviews, Shaye Reviewed All 20Virtual Interviews • Shaye Spots 2 that Tom Missed • She Interviews Them and Hires the 
 Better of the Two • She’s the Office Hero! • Now That’s Working Smarter

78. 3 Kind of Recruiters 1. Résumé Mill 2. Knowledgable Partner 3. Knowledgable Partner Plus

79. Let Me Introduce You To…

80. • Recruitment Agency Specializing
 inVirtual Interviews to Make 
 Your Hiring Easy • As a Knowledgable Partner Plus 
 We’ll Seek to UnderstandYour 
 Position • We’ll Find and Invite All Qualified Candidates the Market Has to Offer to Take aVirtual Interview

81. Best of All… • You’ll Be Like a Kid in a 
 Candy Store • You’re Only Job is to 
 Chose Which One of the 
 Qualified CandidatesYou 
 Want to Invite in for Live Face-to-Face Interview • Then,When Ready We Repeat the Process for You Again as Often asYou Desire New Hires

82. Is Right forYou? • Let Us Take on All the Risk • We’ll SendYou QualifiedVirtual 
 Interviews • IfYou Like WhatYou See,You Can Contract for Our Services • Standard Contract Rates are 25% of Annual Salary

83. Let Us Start 
 Working forYou! • Set Aside 20 Minutes to Let Us Understand the PositionYou Want to Fill • We Guarantee ALL 
 Placements Up to 180 Days • We’ll Replace Any Placement 
 Who’s Been Fired or Quits 
 within 6 Months of Placement for FREE! • If After 45 Days We’ve Not Been Able to HelpYou,We’ll Gift You 3 Months Use ofVirtual Interviews

84. Click to Begin…