Summary of “The Definitive Guide to Recruiting in Good Times and Bad” by Caludio Fernandes-Araoz, Boris Groysberg, and Nitin Nohria published on Mayy, 2009, Harvard Business Review, page 87 (5)
Time of economic crisis provide a company with an opportunity to that advantage of the “buyers’ market” and fill in what is missing from their talent pools. That way they are well-prepared when the recession lifts.
Problems with hiring processes
Many companies hire very poorly from several reasons :
- Relying heavily onsubjective personal preferences or on largely unquestioned organizational traditions, often based on false assumptions.
- Not defining clear criteria as to which candidate skills and attributes are needed for a particular position
- Using inconsistent assessment practices
Steps of the hiring process
- Anticipating the need for new hires
- Specifying the job
- Developing a pool of candidates,
- Assessing the candidates
- Closing the deal
- Integrating the newcomer
- Reviewing the effectiveness of the hiring process
Anticipating the need for new hires
Review high-level leadership requirements every two to three years
- How many people are needed in what positions?
- What qualities are required from those people?
- How to look for those people?
- What will the organizational structure look like?
Specify the job
Answer the following questions:
- What specific capabilities will the job require? do you need an entrepreneur a manage or a leader?
- What team-based competencies are needed?
- What is needed to fit the organizational culture?
Develop the Pool
Consider the following groups:
- inside-outsiders – employees that are not bound by the corporate tradition and ideology
- outside-insiders – someone from the outside who nevertheless knows the organization well
Utilize social network to search for candidates
Assess the Candidates
Three conflicting objectives:
- Evaluate the candidate
- Sell the position and the organization (to the candidate)
- Build organizational consensus WRT the candidates` suitability
- The right interviewers (confident, high emotional intelligence)
- The right number of interviewers (three is enough)
- The right techniques
- Behavioral event interview
- Rigorous, disciplined conversation between the interviewers following the interviews
- Conduct formal reference checks
- The right organizational support – expose the candidate to key stake holders, the direct boss should make the final call
Close the Deal
Factors that determine candidate’s acceptance of the job:
- The organizational commitment
- The job (realistic presentation)
- The boss
Integrate the Newcomer
The recruitment process does not end after the deal is closed.
Do at lease one of the following:
- Make sure the boss and HR manager check in regularly with each new recruit, just to see if everything is going well
- Develop detailed integration plans
- Assign a mentor
Audit and Review
- Evaluate new hires
- Find out what happened to other candidates
- Find and reward (or hold accountable) those who are best at assessing talent