Focusing on your Most Important Assets

Most CEOs and business owners would agree that their most important assets are the people in their organizations – their human capital.

With that said, I find it intriguing that these same executives often don’t put enough effort into the employee hiring process. In order to attract and retain the best employees, hiring companies need to have a top down approach for making their selection process a priority.

• Before interviews even begin, companies should be clear about the strengths they are looking for in a candidate. Executives, hiring managers and other company leaders should discuss what the required strengths and behaviors are for each position. Then, in the interview process, candidates should be assessed for their ability to provide examples of using those strengths to solve their employer’s problems and add value to the company.

• Companies also need to understand what is motivating the candidate to seek a position with their firm. What do they believe makes a good fit? It is important to understand what they’ve worked on in the past that has made them excited to go to work each day. Does what they are seeking align with what your position offers them?

• Companies also need to ensure that the candidate will fit into their company culture. A candidate can have great skills, but if the “fit” with the company isn’t right, the risk for turnover is high. Recent research has demonstrated that 80%-90% of all turnover that occurs in the first 18 months of employment is due to attitude and fit vs. skills. More frequently, I am hearing from clients that are interested in evaluating personality profiling as a tool to mitigate this type of turnover.

Again, this purposeful process will help to grow an organization’s most important asset, their human capital.