October 2016

IN THIS ISSUE

When It Comes to Hiring, Top Leaders Never Go with the Flow
If Trump Talked About Employee Retention
Need Talent? Manufacture it
How to Build a Multi-Million Dollar Staffing Pipeline in 120 Days
High Velocity Hiring Now Available for Pre-Order

WHEN IT COMES TO HIRING, TOP LEADERS NEVER GO WITH THE FLOW

You’ll likely agree that hiring is one of your most important tasks. Get it right, you make your job as a leader easier. Get it wrong, you make your job harder—and possibly put your career at risk. The desire to get hiring right is why many executives and managers are slow to hire and quick to fire.

Problem is, you’re beyond busy. Every day is full. An open seat means extra work you either have to do yourself or delegate. Add the steps of the hiring process, and your already busy day turns overwhelming.

How can you balance your need to make good hires while managing your day efficiently?

It’s all about talent flow.

Enrich and Harness Top Talent

The importance of talent flow came up recently at global CEO summit I attended. After my keynote address I stood on a balcony talking with a few CEOs from the audience. We looked out over a stunning landscape. Mountains stretched into the distance, dotted by lakes and streams, the rolling landscape accented with the beautiful orange and red hues of fall foliage.

On one side, a particularly beautiful lake drew our attention. One of the CEOs, who lived in the area, told us it was his favorite fishing spot. He explained the lake was fed by a spring. The spring burbles up from an aquifer, pumping in millions of gallons of oxygen-enriched fresh water. Water that sustains the fish and nurtures plant life. On the other side of this crystal clear lake was a stream. The stream served double duty—it allowed fish to swim downstream to seek food in nearby lakes, and carried away dead plant matter and other natural waste.

“That’s why it’s perfect for fishing,” the CEO said. “The flow in and out creates balance. There’s just enough fish, plants, and nutrients to keep it pristine.”

As we were talking, I happened to glance in the other direction and see another lake—one that was quite unattractive. There was no spring feeding this lake, nor was there a stream carrying away debris. It was stagnant, covered by a large algae bloom and choked with dead plants. I pointed it out and asked the CEO about it.

“It smells just as bad as it looks,” he said. “No one fishes there. Even if they did, I doubt they’d catch anything good.”

I nodded my head, making a connection. I was about to speak, but he anticipated my thoughts with uncanny accuracy.

“These lakes are a good metaphor for hiring,” he said. “The effective hiring you described in your keynote is like the lake where I fish. Flow creates abundance. In the spring-fed lake, the flow of water creates abundant life. In a company, a flow of talent gives the organization an abundance of human resources which allows it to achieve strategic goals. Talent may flow out, but a continuous supply of new talent brings new perspectives and people who can do great work.”

He was spot on. If there’s a secret weapon behind successful CE0s and top leaders, it’s making talent flow a strategic imperative. From the top down, these leaders know it’s incumbent upon them, not just HR or the talent acquisition team, to maintain a strong flow of talented people. Savvy leaders understand having a strong talent flow is a strategic necessity. Without that flow, departments—or even the entire organization—could end up like that stagnant lake.

How can you incorporate improved talent flow as a strategic imperative? Here are three important details I shared with the CEOs at the summit:

ENRICH THE FLOW

Like the spring feeding the lake, make sure your company has a constant inbound pipeline of prospective employees. Take steps to keep it strong. Work to generate a consistent stream of talented, valuable candidates. Weed out the weak sooner so they don’t waste your time later.

Only 10% of organizations across the globe maintain a strong flow of quality candidates and tap into overlooked pools of talent. That’s where you start—don’t be one of the 90%.

Your growth strategy must include a robust talent flow strategy. Make it a requirement. Task department heads to continuously assess and enrich the stream of prospective employees. Require it before jobs become open, not after. Provide them with resources to tap into a wider pool of candidates. Lead by example. Show them how to enrich the flow by actively networking, referring new candidates, and pointing them toward the pristine, spring-fed lakes best for fishing.

HARNESS THE FLOW

The healthy lake is the candidate pool; the interview is your rod, reel, and tackle. Effective interviews are how you harness the flow of top talent. They’re how you catch and land top team members. Unfortunately, most interviews fail at identifying the best people.

Effective interviews aren’t conceptual. Companies operate in the real world of balance sheets, deadlines, and deliverables. Interviewing should be a reality check—a pragmatic and efficient process that allows you and the candidate to make an informed decision based on facts directly related to the job, not on theory, abstractions, or cute questions that may or may not be relevant to the task at hand. Which is, of course, finding the right person for your company.

The prettiest lure in the world is worthless if it doesn’t land the right fish.

Get the facts you need by taking a rational approach to interviews. Be like a scientist: gather and evaluate the evidence; make a decision based on that evidence—not on what you project or how a candidate spins a particular aspect of their resume or work experience. Look for proof the candidate can do quality work. Ask for real examples from previous work projects. If examples aren’t available, have them generate a sample—right then and there—related to the job for which they’re interviewing.

SUSTAIN THE FLOW

As your company takes steps to enrich and harness the flow of talent, there’s a risk you’ll change too much at one time.

Patience is a virtue many of us lack. In today’s fast-paced society, impatience is the norm. We want things done now, not weeks from now. To drive change, we set tight deadlines and push everyone, including ourselves, towards the goal.

Fast change rarely sticks. It takes time to adjust routines and change habits. A rapid series of changes can overwhelm us. We reach a tipping point and give up, reverting to our previous routines.

Incorporating an improved talent flow into your strategic plans is a must, but you have to make the timeline realistic and achievable.

As a leader, creating a vibrant organization begins and ends with you. When your company is already like that beautiful, thriving, healthy lake, you have an advantage. If your company is part of the forward thinking 10% that maintains a constant stream of incoming talent, keep it that way. Don’t build dams; make sure the spring keeps flowing.

If your organization is more like that stagnant lake, don’t fret. A lake can be restored to its former beauty—so can your company and all the departments in it. Make it a strategic imperative to tap that deep aquifer. Enrich, harness, and sustain the flow of top talent. When you make this proactive choice, you’ll keep your pool of potentials stocked with skilled, resourceful people who do great work, help you reach your strategic goals, and keep your company strong and thriving.

IF TRUMP TALKED ABOUT EMPLOYEE RETENTION

NEED TALENT? MANUFACTURE IT

In my forthcoming book (High Velocity Hiring: How to Hire Top Talent in an Instant), I explain how organizations are expanding their flow of quality job candidates. This includes tapping into eight streams of talent. One of these is called Talent Manufacturing. Organizations that engage in Talent Manufacturing create candidates for their open jobs. How? Through “talent manufacturing” programs like internships and education, which provide potential hires with experience and new skills, and cross-training programs, which provide current employees with the skills needed for advancement.

Talent Manufacturing programs have typically been internal functions within an organization. However, there’s a new company called RightSkill that’s manufacturing talent for you. I recently served as an expert consultant in helping RightSkill develop their new recruiter Talent Manufacturing program.

Learn more about RightSkill

FEATURED RESOURCE

HOW TO BUILD A MULTI-MILLION DOLLAR STAFFING PIPELINE IN 120 DAYS

How can a staffing leader get a new hire or existing team member to generate millions in revenue in just four months? Scott shares the steps in this podcast.

Listen now

PRODUCT OF THE MONTH

HIGH VELOCITY HIRING NOW AVAILABLE FOR PRE-ORDER

In High Velocity Hiring, I reveal my system for filling jobs effectively and instantly―making it your ultimate weapon in winning the war for talent.

Learn more about High Velocity Hiring

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