5 Most Costly Hiring Mistakes Companies Can Make
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5 Most Costly Hiring Mistakes Companies Can Make



Is your company making these top 5 hiring mistakes?

Is your company making these top 5 hiring mistakes?

Most companies that make them are unaware that they are making them and how that affects their company, profits and moral.



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5 Most Costly Hiring Mistakes Companies Can Make 5 Most Costly Hiring Mistakes Companies Can Make Presentation Transcript

  • The 5 MOST Costly Hiring Mistakes Companies Can Make Newly Developed Technology Exposes Why... You’re MISSING the BEST Talent for Hire
  • 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?
  • I’ll show you how to reduce this by up to 78%, but first…
  • 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!
  • 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
  • Where’s the Market at Today?
  • 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.
  • 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.”
  • 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
  • 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/
  • 27.1% Searching for Employment Passive Job Seekers
  • 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/
  • More Than 5.5 Million People 
 Have Been Unemployed for 
 6 Months or Longer!!
  • 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
  • For Every Job Opening Available There Are 2.6 People Competing for That Position
  • • 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/
  • Source:" http://www.dailymail.co.uk/news/article-2352011/Up-160-graduates-chase-job-Leading-firms-increase-number-applications-role.html
  • 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?

  • Source:" http://career-advice.monster.com/job-search/company-industry-research/despite-unemployment-many-jobs-hard-to-fill-hot-jobs/article.aspx
  • 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
  • Source:" http://www.craigslist.org/about/factsheet
  • Source:" http://www.careercast.com/career-news/employers-craigslist-job-postings-contain-hidden-cost
  • 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!
  • What No One Is Willing to Talk About
  • The True Costs of a Bad Hire
  • 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
  • What About… What Will All That Cost You? • Loss Productivity Costs • Disruption Costs • Missed Opportunities
  • Source:" http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/
  • Are You Settling?
  • 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?
  • Source:" http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/
  • Source:" http://www.inc.com/tom-searcy/the-problem-with-being-good-enough.html
  • AreYou Accidentally Building a Good Enough Organization?
  • WouldYou Agree?
  • Source:" http://www.forbes.com/sites/mikemyatt/2012/09/27/the-1-reason-companies-make-bad-hires/
  • You Can Hire the Best, But FirstYou Need to Watch Out for…
  • 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
  • 1. Overusing the Same Job Boards • Problem:
 Going After the Same Hiring Pool

  • Source:" http://blogs.hbr.org/cs/2013/03/why_employers_arent_filling_th.html
  • 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
  • 2. Not Using Facebook • Problem:
 Not Using the “Facebook Stalk” to FindTopTalent
  • Source:" http://techcrunch.com/2011/11/16/social-recruiting/
  • 3. Relying Too Much on LinkedIn • Problem:
 Using LinkedIn asYour Go-To Hiring “Silver Bullet”
  • Source:" http://www.fastcompany.com/1815993/fast-talk-meeteor-facebook-stalk-job-you-want
  • 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?
  • 4. Ignoring Twitter • Problem:
  • Source:" http://www.cbsnews.com/8301-505143_162-40245242/how-to-use-twitter-to-find-amazingemployees/
  • 5. Not Leveraging Video Interviews • Problem:
 WastingTOO MuchTime Interviewing
  • Spending All Day or Several Days Interviewing? Video Interviews Reduce the 
 Amount of TimeYou Spend
 Conducting Face-to-Face 
  • Who ALREADY Uses Video Interviews... You?
  • Source:" http://www.businessweek.com/smallbiz/news/coladvice/book/bk981106.htm
  • Source:" http://www.perfectlaborstorm.com/2012/recruitment-2/how-many-job-applicants-does-it-take-to-find-one-qualified-candidate/
  • The BEST Way to Find Top Talent FAST!
  • Virtual Interviews... ...Create a Faster Time-to-Hire ...Reduce Travel Expenses ...Produce a Sustainable Hiring Model
  • Virtual Interviews... ...ExpandYour Candidate Pool ...Can BeViewedVirtually Anywhere ...Reduce Interview Fatigue ...Are Easy to Use
  • Source:" http://www.businessweek.com/smallbiz/news/coladvice/book/bk981106.htm
  • Source:" http://staffingtalk.com/are-video-interviews-becoming-the-norm/
  • Easy As 1-2-3 3. Review Recorded Interviews at Your Leisure 1. Choose and RecordYour Questions 2. Send OutYour Virtual Interview Link + +
  • Recording Your Questions • RecordYour Own • Choose from a List of Pre-Recorded Questions
  • Post an Interview Link • Send OutYour Interview Link to Their Applicant Pool or • HostYour Link on a Job Board or Social Media Site
  • Review AtYour Leisure “Can you see how much easier it will be to find the right person for the job?”
  • Streamlined Process • OnceYou’ve Found the Right Candidate for the Right Position... • Invite Them in for Live Interview
  • CanYou Do This OnYour Own? Of CourseYou Can! BUT...
  • and • You’ll Still Have to 
 Coordinate Schedules • Eliminates Reviewing at 
 Your Leisure • Hope that Technology 
 Works Properly • Can’t Be Recorded or Shared
  • But There’s Still 
 One Problem… LiveVideo Interviews Are 
 Nothing More Than an 
 Untested Resume
  • • You Can Review atYour Leisure • BUT Their Interview 
 Is Also Scripted • You Only See What They WantYou to See “Take 57”
  • 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.
  • 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
  • A Tale of Two Hiring Managers
  • A Day in the Life of... Traditional Tom Savvy Shaye
  • 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
  • Weeding Out Process... • Both Tom and Shaye’s Recruiter Receive Résumés from 200 “Qualified” Candidates • 150 of the Applicants Don’t Meet Their Needs
  • Finding the Best... • 50 Candidates is Still Too Many • Both Parties Narrow it Down to the 
 Exact Same 20 Applicants
  • No Substitutes... • Tom Interviews Who He Feels
 Are the Top 6 Candidates • Missed the Real Winner • Screening Will NEVER 
 Replace a Live Interview
  • 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?
  • TheVirtual Interview Difference • Shaye’s Recruiter Sends Over 20 
 Résumés Accompanied with 20 
 Virtual Interviews • More Choices atYour Disposal • More Really is Better
  • 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
  • 3 Kind of Recruiters 1. Résumé Mill 2. Knowledgable Partner 3. Knowledgable Partner Plus
  • Let Me Introduce You To...
  • • 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
  • 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
  • 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
  • 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
  • http://www.cvirtual.com/new Click to Begin…