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Measure Quality of Hire with Lou Adler | Webcast

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Lou Adler explains how to measure quality of hire, how to quantify it from an ROI standpoint, and how to maximize it.

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Measure Quality of Hire with Lou Adler | Webcast

  1. 1. How to Measure and Maximize Quality of Hire … and Achieve an ROI > 500%! Based on Lou Adler’s Hire With Your Head and The Essential Guide for Hiring & Getting Hired Rev 814-A ROI Calculator = budurl.com/QoHROI4
  2. 2. Mid-third Strategy/Process/People Raise Talent Bar Existing Processes Maintain Talent Level Shortcuts/Random Lower the Bar Upper-third Lower-third Break Through the Talent Ceiling Difference in Performance of People Hired Max Speed & Volume Efficiency & Minimize Cost Max Quality & ROI
  3. 3. Mid-third Strategy/Process/People Raise Talent Bar Existing Processes Maintain Talent Level Shortcuts/Random Lower the Bar Upper-third Lower-third Break Through the Talent Ceiling Difference in Performance of People Hired Fill Seats Quickly Hire Best Who Meet Filters Hire Best Available
  4. 4. Business Process for Max QoH Talent Partnership: Recruiter, Manager, Candidate Performance Profiles Careers, not Lateral Transfers Talent-centric Sourcing Target Best People – Deep Networks Two-Question Interview Evidence – Assess – Recruit – Defend Integrated Recruiting 30% Solution – Career vs. Comp ROI: Raise Talent Bar
  5. 5. What’s the ROI of a 15% Better Person? Salary 100 people hired @ $100K each = $10mm Avg Generate $24mm Profit per Year Top 1/3 will generate $3.6mm/yr more or $14mm extra variable profit over 4 yrs ROI = $14mm/Cost to Hire Top 1/3 200% to 700% Profit to Salary Multiplier $600K x 40% = $240K $240K/$100K = $2.40
  6. 6. Requirements to Hire Top-Third Different Strategy Attract In vs. Weed Out Different Processes Benchmark the Best Shift Sourcing Mix More Passive Talent Partnership Recruiter & Manager Solution vs. Transaction-based Performance Metrics
  7. 7. Rethinking Talent Strategy Is there a surplus of the best people or scarcity? HAVE GET BECOME DO Surplus – Weed Out the Weak – Active – Best Who Apply Scarcity – Attract the Best – Passive – Raise the Talent Bar DO BECOME Hiring Manager Focus: DOING vs. HAVING Top Candidate Focus: DOING & BECOMING vs. GETTING
  8. 8. Zone 1 Zone 2 Zone 3 Zone 4 Super Passive Explorers Tiptoers Very Active Time Growth and Impact Extraordinary Career Move Significant Career Move Much Better Job Somewhat Better Job Increase Quality by Career Zone Shift to Steeper Part of the Career Zone Curve 40% - Networking 40% - Email/ERP 20% - Ads 5% 20% 50% 25%
  9. 9. How Do You Find Your Best People?
  10. 10. Define Pre-Hire Quality What’s the Real Job? •Collaborate with sales rep to develop customer solutions at C-level in F500 companies •Lead intense detailed product spec presentations to sophisticated buying groups •Work with contracts to develop cost/price/margin analysis for $5mm+ programs •Handle 3-6 major programs concurrently This is not a job description. It’s a person description.
  11. 11. Conduct Pre-hire Performance Review
  12. 12. Conduct Pre-hire Performance Review Question 1: Ask MSA question for job-related, team & individual tasks Have candidate prepare a 360 work chart for team relations TIME IMPACT Team Individual Ask many MSA questions to see growth over time
  13. 13. How to Measure Quality of Hire Pre- and Post Rank in Comparison to Job 1.0 The Bottom Third 2.0 Middle Third 2.5 Current Average 3.0 Rock Solid: top 20% 4.0 Top-notch: top 10-15% 5.0 Rock Star: top 5% Compare Pre- and Post-hire Results for Feedback and Process Improvements ROI Calculator budurl.com/ROICalc
  14. 14. Measure & Max Quality of Hire What’s the ROI of a Top- third vs. Mid-third?
  15. 15. Performance-based Hiring High-tech LinkedIn Recruiter & High-touch Performance-based Hiring Proof of Concept lou@louadlergroup.com ROI: Raise Talent Bar Proof of Concept

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