The third Meeting, Day : Monday, Date : 20th March, 2023, Time : 13.00-16. 10, Topic : Understanding People at Work : Individual Differences and Perception
Garis besar topik
-
Understanding People at Work : Individual Differences and Perception
1. Advice for Hiring Successful Employees : The case of Guy Kayasaki
2. The Interaction Perspective : The Role of Fit
3. Individual Differences : Value and Personality
4. Perception
5. The Role of Ethics and Nation Culture
6. Using Science to Match Candidates to Jobs : The Case of Kronos
7. Conclusion
8. Exercises
-
Siswa harusTandai selesai
HOW TO HIRE EMPLOYEES
7 WAYS TO FIND, HIRE AND EVALUATE GREAT EMPLOYEES
Hire superstars only; don’t settle for average…The best predictor of their future performance is their past performance, actually.” – Eben Pagan
Running a successful business is not just about selling a product or service. To get to the top of your industry and stay there, you must learn how to hire employees who will stick with your company for years to come.
The cost of hiring the wrong person is high, but the cost of keeping the wrong person is even higher. According to one well-known recruiter, the real cost of bringing on a new employee is $240,000. But if you keep the wrong employee for, say, two and a half years before firing and replacing them, that bad hire will have cost you close to $840,000 when you factor in total compensation, hiring, disruption costs, severance and so on.
Your investment in learning how to find good employees far outweighs their contribution. Even if you go through all of the right processes to hire the right person, you may end up with someone who interviews well but isnΓÇÖt an outstanding performer. ThatΓÇÖs why entrepreneur Eben Pagan says, ΓÇ£Hire slowly, fire quickly.ΓÇ¥
The bottom line of a business is not its monetary bottom line ΓÇô itΓÇÖs the people whose energy and efforts make the company what it is. Your people are part and parcel to your strategy for building a profitable business. Unlocking the keys to how to hire employees ΓÇô from finding good candidates to evaluating performance post-hire ΓÇô will save you the time and expense of a bad fit.
HOW TO HIRE GREAT EMPLOYEES
Instincts alone arenΓÇÖt enough to properly find, hire and evaluate employees. You also need the right skills and strategies.
1. UNDERSTAND YOUR COMPANY VALUES
Before you can determine how to hire employees who are a good fit, you must understand who you are as a company. As a leader, you set the bar for your companyΓÇÖs culture and core values, which are readily apparent in your customerΓÇÖs experience. When you run a business, youΓÇÖre leading a group of people with needs and feelings as well as skills and job roles. Without the capacity to communicate your vision and what your company stands for, your recruiting process falls flat.
2. LEVERAGE YOUR NETWORK
Leverage is a key business concept that means using the resources you have in order to achieve your goals. As Tony Robbins says, ΓÇ£ItΓÇÖs not the lack of resources, itΓÇÖs your lack of resourcefulness that stops you.ΓÇ¥ In terms of learning how to find good employees, resourcefulness means looking to your network, including referrals from your current employees, mastermind groups or mentors and even social media. Surround yourself with smart, hard-working people ΓÇô then encourage them to share your job posting.
3. LOOK FOR A FIT WITH YOUR TEAM
In one study 86% of executives said poor collaboration is a major cause of business failure. They understand that teamwork has a direct effect on productivity and profitability. Use the DISC assessment to evaluate your current team, then use it as a tool for how to hire great employees. It will help you understand the soft skills, personality type and communication styles each potential hire might bring to your team.
4. PRIORITIZE COMMUNICATION SKILLS
When it comes to mastering how to find good employees, research shows that employers prioritize a recruitΓÇÖs communication skills over any other attribute. Researchers surveyed nearly 1,000 recruiters who solicited potential hires on business school campuses. These recruiters put communication skills like speaking, listening, writing and presenting at the top of their list of desirable traits.
Why does a so-called ΓÇ£soft skillΓÇ¥ like communication play such a pivotal role in learning how to hire great employees? Communication skills are more elusive than hard skills like technical knowledge, distinguishing average talent from rockstar talent.
5. EVALUATE NEW HIRES
Your responsibilities donΓÇÖt end once youΓÇÖve decided on the ideal candidate and hired them. You must follow up ΓÇô and you must go beyond the typical questions to ask new hires and dig deeper. Eben Pagan has created a straightforward system to determine whether your new hireΓÇÖs performance meets your standards as quickly as possible ΓÇô itΓÇÖs called the daily update.
In this interview, available in its full length in the DVD set of The New Money Masters , Eben teaches Tony Robbins his questions to ask new hires as part of his system for evaluating new hires. Embracing the communication strategies behind PaganΓÇÖs method is one of the most effective ways to learn how to hire employees.
6. ENGAGE IN DAILY COMMUNICATION
One crucial trait of the daily update is that it happens every day for the first 30 days. By engaging in daily communication with new employees, youΓÇÖre able to pinpoint and solve problems and determine if they are a superstar ΓÇô or cut ties if the fit isnΓÇÖt there. Ask your new hires three questions at the end of each day:
- What they did that day and the results they got
- Any problems or challenges they faced
- Questions they have for you
By soliciting your new hireΓÇÖs honest feedback, youΓÇÖre also able to pinpoint areas where your training processes or overall operations need revamping. This straightforward and efficient tool could save you hundreds of thousands of dollars.
7. WORK ON YOUR LEADERSHIP SKILLS
A business is only as strong as the psychology and skills of its leader. Discover your business identity to understand yourself more fully and build a team that will propel your company to the top. Learn how to build better connections ΓÇô one of the most fundamental ways to hire good employees, since itΓÇÖs this rapport that ultimately cements the relationships that hold your company together. Work on your communication skills to create a culture of strategic innovation where creativity and problem solving can flourish ΓÇô and that creates raving fan employees who want to bring in more superstar talent.
Your hiring practices can make or break your business. When you understand how to hire employees through a careful and strategic onboarding system, youΓÇÖre able to create a passionate, cross-functional team that thrives.
-
Siswa harusTandai selesai
Case in Point: Kronos Uses Science to Find the Ideal Employee
You are interviewing a candidate for a position as a cashier in a supermarket. You need someone polite, courteous, patient, and dependable. The candidate you are talking to seems nice. But how do you know who is the right person for the job? Will the job candidate like the job or get bored? Will they have a lot of accidents on the job or be fired for misconduct? DonΓÇÖt you wish you knew before hiring? One company approaches this problem scientifically, saving companies time and money on hiring hourly wage employees.
Retail employers do a lot of hiring, given their growth and high turnover rate. According to one estimate, replacing an employee who leaves in retail costs companies around $4,000. High turnover also endangers customer service. Therefore, retail employers have an incentive to screen people carefully so that they hire people with the best chance of being successful and happy on the job. Unicru, an employee selection company, developed software that quickly became a market leader in screening hourly workers. The company was acquired by Massachusetts-based Kronos Inc. (NASDAQ: KRON) in 2006 and is currently owned by a private equity firm.
The idea behind the software is simple: If you have a lot of employees and keep track of your data over time, you have access to an enormous resource. By analyzing this data, you can specify the profile of the ΓÇ£idealΓÇ¥ employee. The software captures the profile of the potential high performers, and applicants are screened to assess their fit with this particular profile. More important, the profile is continually updated as studies that compare employee profiles to job performance are conducted. As the number of studies gets larger, the software does a better job of identifying the right people for the job.
If you applied for a job in retail, you may have already been a part of this database: the users of this system include giants such as Universal Studios, Costco Wholesale Corporation, Burger King, and other retailers and chain restaurants. In companies such as Albertsons or Blockbuster, applicants can either use a kiosk in the store to answer a list of questions and to enter their background, salary history, and other information or apply online from their home computers. The software screens people on basic criteria such as availability in scheduling as well as personality traits.
Candidates are asked to agree or disagree with statements such as ΓÇ£I often make last-minute plansΓÇ¥ or ΓÇ£I work best when I am on a team.ΓÇ¥ Additionally, questions about how an applicant would react in specific job-related situations and about person-job fit are included. After the candidates complete the questions, hiring managers are sent a report complete with a color-coded suggested course of action. Red means the candidate does not fit the job, yellow indicates the hiring manager should proceed with caution, and green means the candidate is likely a good fit. Because of the use of different question formats and complex scoring methods, the company contends that faking answers to the questions of the software is not easy because it is difficult for candidates to predict the desired profile.
Matching candidates to jobs has long been viewed as a key way of ensuring high performance and low turnover in the workplace, and advances in computer technology are making it easier and more efficient to assess candidateΓÇôjob fit. Companies using such technology are cutting down the time it takes to hire people, and it is estimated that using such technologies lowers their turnover by 10%ΓÇô30%.
Discussion Questions
- Strategic human resource management (SHRM) is included in your P-O-L-C framework as an essential element of control. Based on what you have learned about Kronos, how might SHRM be related to the planning, organizing, and leading facets of the P-O-L-C framework?
- What can a company do in addition to using techniques like these to determine whether a person is a good candidate for a job?
- What are potential complicating factors in using personality testing for employee selection?
- Why do you think that retail companies are particularly prone to high turnover rates?
- What steps do you take as a job seeker to ensure that an organization is a good fit for you?
-
Siswa harusTandai selesai
Advice for Hiring Successful Employees: The Case of Guy Kawasaki
When people think about entrepreneurship, they might think of Guy Kawasaki (http://www.guykawasaki.com), Silicon Valley entrepreneur and the author of several books, including The Art of the Start and The Macintosh Way. Beyond being a best-selling author, he has been successful in a variety of areas, including earning degrees from Stanford University and UCLA; being an integral part of AppleΓÇÖs first computer; writing columns for Forbes and Entrepreneur Magazine; and taking on entrepreneurial ventures such as Alltop, an aggregate news site, and Garage Technology Ventures. Kawasaki is a believer in the power of individual differences. He believes that successful companies include people from many walks of life, with different backgrounds and with different strengths and different weaknesses. Establishing an effective team requires a certain amount of self-monitoring on the part of the manager. Kawasaki maintains that most individuals have personalities that can easily get in the way of this objective. He explains, ΓÇ£The most important thing is to hire people who complement you and are better than you in specific areas. Good people hire people that are better than themselves.ΓÇ¥ He also believes that mediocre employees hire less-talented employees in order to feel better about themselves. Finally, he believes that the role of a leader is to produce more leaders, not to produce followers, and to be able to achieve this, a leader should compensate for their weaknesses by hiring individuals who compensate for their shortcomings.
In todayΓÇÖs competitive business environment, individuals want to think of themselves as indispensable to the success of an organization. Because an individualΓÇÖs perception that he or she is the most important person on a team can get in the way, Kawasaki maintains that many people would rather see a company fail than thrive without them. He advises that we must begin to move past this and to see the value that different perceptions and values can bring to a company, and the goal of any individual should be to make the organization that one works for stronger and more dynamic. Some managers fear diversity and the possible complexities that it brings, and they make the mistake of hiring similar individuals without any sort of differences. When it comes to hiring, Kawasaki believes that the initial round of interviews for new hires should be held over the phone. Because first impressions are so important, this ensures that external influences, negative or positive, are not part of the decision-making process.
Many people come out of business school believing that if they have a solid financial understanding, then they will be a successful and appropriate leader and manager. Kawasaki has learned that mathematics and finance are the ΓÇ£easyΓÇ¥ part of any job. He observes that the true challenge comes in trying to effectively manage people. With the benefit of hindsight, Kawasaki regrets the choices he made in college, saying, ΓÇ£I should have taken organizational behavior and social psychologyΓÇ¥ to be better prepared for the individual nuances of people.
-
-