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The #1 CEO Mistake That Will Kill Your Company

The #1 CEO Mistake That Will Kill Your Company | Hire Top Talent | Scoop.it

 

"This is an excellent blog post about the common mistakes made by CEOs.  A key element is to put a people plan into action. The reason most CEOs want one is three-fold: greater profit, greater revenue, greater retention and development of their key team members."

 

The fundamental problem for most CEOs is that they give lip service to the concept of hiring and retaining the best people they can. Most of the processes and methods used to hire and retain are average and mediocre. Very few best practices are in place. Hiring and retaining great people is hard work and most CEOs and executives refuse to invest the time necessary.


Barry Deutsch
Partner
IMPACT Hiring Solutions
http://www.impacthiringsolutions.com/Blog


Have you read our FREE book - You're NOT the Person I Hire?


This best-selling book is available as a FREE digital download on our website.


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Hiring Mistake #8 – ONLY Hire Candidates Who Can Meet Your Expectations

Hiring Mistake #8 – ONLY Hire Candidates Who Can Meet Your Expectations | Hire Top Talent | Scoop.it
Hiring Mistake #8 – ONLY Hire Candidates Who Can Meet Your Expectations
Barry Deutsch's insight:

Might it be possible that you're setting the wrong expectations of performance in the interview - and then measuring for this "wrong" criteria?

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Hiring Mistake #5: Would You Interview the Same as Picking a Heart Surgeon?

Hiring Mistake #5: Would You Interview the Same as Picking a Heart Surgeon? | Hire Top Talent | Scoop.it

A major mistake occurs in the hiring process when interviewing candidates. There is a tendency to equate, extrapolate, and extend experience to be the same as results. There is an enormous gap between experience and results. Historical experience.

Barry Deutsch's insight:

Would you invest the same amount of time, due diligence, and focus as you would if you had to interview heart surgeons to work on you? Probably NOT. Most hiring executives VIOLATE the old adage to hire slowly. Usually, the decision to hire is made with minimal data and information. This error/mistake helps lead to the statistic of 50/50 probability in hiring. When will you no longer accept random results from the hiring and interviewing process?

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Hiring Mistake #4: Falling In/Out of Love During Interviews

Hiring Mistake #4: Falling In/Out of Love During Interviews | Hire Top Talent | Scoop.it

Hiring executives and managers rely too heavily on first impressions (falling in or out of love in the interview) to hire candidates – and as a result make Snap Judgments about candidates.Click here to edit the content

Barry Deutsch's insight:

1st impressions tend to dictate the hiring decisions of most hiring managers and executives. In the vast majority of interviews, the decision to hire a candidate is primarily based on likability, rapport, and chemistry (not even the personality characteristics of the candidate - but rather their superficial acting skills). Is any wonder interviewing success is at best a 50/50 proposition?

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Leading Effectively When You Inherit a Mess

Leading Effectively When You Inherit a Mess | Hire Top Talent | Scoop.it
A 10-year longitudinal study on executive transitions that my organization conducted found that more than 50% of executives who inherit a mess fail within their first 18 months on the job. We also uncovered numerous landmines for leaders in this situation. And, with the best of intentions, my client was about to step on a number of them. When a leader inherits a mess created by others, especially when arriving as an outsider, the situation can feel fragile and knowing where to begin the long journey of change can feel precarious. Based on our research and my experience, there are six things the most effective leaders do to avoid failing in a new role.

Via Mel Riddile
Barry Deutsch's insight:

This was a good article in HBR on why so many executives fail early in taking on a new job. Where to begin is sometimes the greatest challenge. Do any of these landmines sound familiar as you stepped into your most recent role? What do you do to minimize this risk of hiring failure when asking new CEOs/executives to "fix" a mess?

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Why Your Employee Referral Program is Broken

Why Your Employee Referral Program is Broken | Hire Top Talent | Scoop.it
Learn how to design your hiring structure to maximize the underlying causes of referral benefits with social hiring or team-based hiring.
Barry Deutsch's insight:

If employee referrals are one of the top channels for quality employees why is it at the bottom of investments in hiring for most companies. This doesn't make any sense. Your best people come from referrals - yet you spend the least investment and effort around referrals. WHY?

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Empty Why Do Most Interviews Have A Low Correlation to Success?

Empty Why Do Most Interviews Have A Low Correlation to Success? | Hire Top Talent | Scoop.it

Acting in the interview does not correlate to success.

Barry Deutsch's insight:

Have you ever hired someone that said all the right things in the interview (like an actor or actress) – yet fell flat on their face after they came aboard?

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Miklos Szilagyi's curator insight, April 24, 10:01 AM
I just go one step further.... Have you met guys who are brilliant on gamification (in the old times simple training games) and they are just not there for real work? They love playing but they hate working... more common than you just think now...
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Which of These 5 Engineering Recruiting Mistakes Are You Making?

Which of These 5 Engineering Recruiting Mistakes Are You Making? | Hire Top Talent | Scoop.it
Making easily avoidable engineering recruiting mistakes can cause significant damage for no reason. Save your company from losing out on top talent.
Barry Deutsch's insight:

Common mistakes in hiring - especially my favorite soapbox issue of not defining your expectations, results, outcomes desired which is the NUMBER ONE mistake in hiring for any job!

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Hiring Mistake #4: Falling In/Out of Love During Interviews

Hiring Mistake #4: Falling In/Out of Love During Interviews | Hire Top Talent | Scoop.it

Hiring executives and managers rely too heavily on first impressions (falling in or out of love in the interview) to hire candidates"

Barry Deutsch's insight:

What happens when you like a candidate (or don't like a candidate) based on first impressions? How easy/hard do you go interviewing.

 

Some of the research in hiring indicates that a large percentage of hiring managers make decisions on candidates based on likability, rapport, and chemistry.

 

Do you find this happening to you in the interview?

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Hiring Mistake #3: Does Your Hiring Process Resemble Ordering Fast Food?

Hiring Mistake #3: Does Your Hiring Process Resemble Ordering Fast Food? | Hire Top Talent | Scoop.it

We title Hiring Mistake #3 as “Inappropriate Prerequisites”. The metaphor of these inappropriate prerequisites is that hiring top talent is not the same as ordering in the drive-through line at your favorite fast food restaurant.

Barry Deutsch's insight:

One of the most significant reasons hiring fails so often is that most hiring managers use a traditional job description to check the boxes on whether someone can do the job. The traditional job description as it is used in most companies is a worthless tool for measuring performance or success.

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The 24 Biggest Recruiting And Hiring Mistakes Most Entrepreneurs Make » CEOWORLD magazine

The 24 Biggest Recruiting And Hiring Mistakes Most Entrepreneurs Make » CEOWORLD magazine | Hire Top Talent | Scoop.it
When it comes to hiring and onboarding, most businesses blow it. In fact, so many organizations do such a poor job of facilitating the process that many new hires get frustrated their very first day on the job. In order to finish the hiring process on a strong note, you need to prioritize onboarding just …
Barry Deutsch's insight:

Here's the key point buried in this article:

 

From the new hire’s perspective, one of the biggest points of friction has to do with what’s expected of them on the first day.

 

This issue is so horrific for most companies, that we wrote a book a few years ago titled "This is NOT the Position I Accepted".

 

Desire to ensure hiring failure - don't define success before the hire and surprise the candidate after the hire with what they have to do to be successful.

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Upgrading Your Team with Social Networking

Upgrading Your Team with Social Networking | Hire Top Talent | Scoop.it

Now is an excellent time to consider upgrading your team by leveraging social media.

Barry Deutsch's insight:

Be more like a professional recruiter searching for top talent with a magnifying glass, looking under rocks, being a detective, and leveraging the one degree of separation that social media provides, especially LinkedIn.

 

Why don't more companies use the social networking connections of their employees, vendors, sub-contractors, clients, and suppliers to bring outstanding candidates to the table?

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Hiring Mistake #1: Your Job Description is Worthless

Hiring Mistake #1: Your Job Description is Worthless | Hire Top Talent | Scoop.it
Barry Deutsch's insight:

The number ONE mistake in hiring is not effectively defining what person must do in the job to be successful. The traditional job description has NOTHING to do with defining success - rather it usually defines the rock-bottom minimum that you'll tolerate to allow someone to keep their job. If this doesn't sound dysfunctional, I'm not sure what might qualify.

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Victimized by The Top Ten Hiring Mistakes?

Victimized by The Top Ten Hiring Mistakes? | Hire Top Talent | Scoop.it
Barry Deutsch's insight:

Are you victimized by the Top Ten Hiring Mistakes? A number of years ago we undertook a comprehensive study to understand why hiring success and accuracy is so poor. We've written a couple of books on the subject and presented the workshop titled "You're NOT the Person I Hired" on these common mistakes and errors to over 35,000 CEOs and Senior Executives in the last two decades.

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Hiring Mistake #7: NOT Fishing In Deep Waters for the Best Candidates

Hiring Mistake #7: NOT Fishing In Deep Waters for the Best Candidates | Hire Top Talent | Scoop.it

Most of the methods traditionally used to attract candidates bring forth candidates who are floating in the shallow end of the pond."

Barry Deutsch's insight:

Are you still accepting anyone who lands on your doorstep from posting generic job descriptions on generic job boards? This is a very small percentage of the viable candidate pool. STOP finishing for candidates in shallow waters.

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Why Your Training Is Failing... And How To Fix It

Why Your Training Is Failing... And How To Fix It | Hire Top Talent | Scoop.it

It seems outlandish to consider that the amount spent by companies on training has risen steadily over the past decade, culminating in a whopping $70.65 billion spent on training expenditures by U.S. firms in 2016 alone. Yet with all that money spent training their workforce, very few companies actually take the time to look at the actual effectiveness of their training programs.

The Association for Talent Development reported 95 percent of training was enjoyed by participants, but only 37 percent of training resulted in participants learning the material, only 13 percent reached a level where participants applied what they learned, and a mere 3 percent of training reached a level where the organization felt an impact.


Via Roger Francis
Barry Deutsch's insight:

One third of what I do is training (hiring, retention, and performance management). I do 50-60 talks a year for CEO groups and senior executive groups like YPO, EO, and Vistage. I also do the same presentation at larger management retreats, tradeshows, and conferences. In the last 20 years, I've probably trained over 25,000 CEOs and senior executives. I'm stunned to see a survey that shows only 3% of executives feel training had an impact. Either something is wrong with the training delivery or the process after the training to gain value/impact. Maybe it's a little bit of both.

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Hiring Mistake #3: Does Your Hiring Process Resemble Ordering Fast Food?

Hiring Mistake #3: Does Your Hiring Process Resemble Ordering Fast Food? | Hire Top Talent | Scoop.it

We title Hiring Mistake #3 as “Inappropriate Prerequisites”. The metaphor of these inappropriate prerequisites is that hiring top talent is not the same as ordering in the drive-through line at your favorite fast food restaurant.

Barry Deutsch's insight:

There are a few key mistakes and errors that get repeated over and over. One of these is using the wrong criteria to at the core of the entire hiring process. Using inappropriate prerequisites like those found on most job descriptions leads to poor hiring success - perhaps at best it turns into a 50/50 crap shoot.

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PUT Your Candidates Under The Magnifying Glass

PUT Your Candidates Under The Magnifying Glass | Hire Top Talent | Scoop.it

Hiring Mistake #2: Failure to Peel the Onion in the Interview

Barry Deutsch's insight:

One of my favorite questions to ask CEOs and senior executives in my workshop, "You're NOT the Person I Hired", is what percentage of candidates lie, embellish, or exaggerate what they've done or think they can do for you? Rarely, do I hear anything less than 100 percent. Peeling the ONION, asking deep, probing questions, collecting examples, and doing what we call in our hiring process: Putting the Candidate Under the Magnifying Glass - will eliminate or substantially reduce lying, embellishment, and exaggeration.

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Empty titleHiring Mistake #6: Interview FAILURE - Acting Skills Don’t Correlate to On-The-Job Success

Empty titleHiring Mistake #6: Interview FAILURE - Acting Skills Don’t Correlate to On-The-Job Success | Hire Top Talent | Scoop.it

One of the greatest mistakes in hiring occurs when we observe how well someone interviews as an actor or actress - not good of an employee will they be in our unique culture.

Barry Deutsch's insight:

Stop evaluating candidates in interviews based on their acting skills. Sometimes the best actors/actresses are not the best performers. Sometimes candidates who don't "perform" well in the interview, turn out to be your best employees. As a hiring manager or executive - how do you avoid making these classic mistakes?

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Execution Is a People Problem, Not a Strategy Problem

Execution Is a People Problem, Not a Strategy Problem | Hire Top Talent | Scoop.it
A process for getting the right people aligned.
Barry Deutsch's insight:

Excellent article on why strategy fails. In over 1000 presentations, 35,000 CEOs and senior executives, and 20 years of researching the subject of why strategy execution fails, we've found that the number one issue is a lack of linking organizational goals-outcomes (strategy) with individual contribution in meaningful way that results in flawless execution. We call our methodology SOAR - it provides the missing link of translating what you're trying to accomplish as an organization to execution at the individual level. The article gave a nice 40,000 ftoot overview of the issue, but assumed executives had the skills, technique, methodology to make this leap - which we've found is not true.

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7 Biggest Hiring Mistakes Employers Make | Treeline Sales Blog

7 Biggest Hiring Mistakes Employers Make | Treeline Sales Blog | Hire Top Talent | Scoop.it
The 7 deadly sins of sales hiring and how to avoid them
Barry Deutsch's insight:

Good reminders about the main problems in hiring, specifically sales hiring. I'll zero in on one of my most important points - finding enough good people.

 

If all you are seeing is the bottom third of the candidate pool from your ineffective recruiting process, then you're doomed to fail before you meet the first candidate

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Hire and Retain Top Talent

Hire and Retain Top Talent | Hire Top Talent | Scoop.it

Do you Google candidates before you interview them? Do you check out their on-line "personas?" Do their pictures, comments, profiles convey the type of person you want to hire for your culture and values?

Barry Deutsch's insight:

Scary how many employers don't check out candidates through social media - Google, Facebook, Instagram, Twitter, LinkedIn. Afraid of what you might see?

 

Do you have a horror story you would like to share of how the actor/actress from the interview was different from their on-line persona?

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10 Steps to Successful Employee Onboarding

10 Steps to Successful Employee Onboarding | Hire Top Talent | Scoop.it
Everybody knows that excessive turnover can be quite expensive. For that reason, smart organizations are always looking to increase their employee retention stats. One of the easiest ways to do that is by creating the best employee onboarding program you possibly can. Here are 10 steps to successful onboarding courtesy of the Mindflash team.

Via Roger Francis
Barry Deutsch's insight:

ON-BOARDING: One cause of hiring failure is a lack of a systematic and rigorous on-boarding program. Most companies minimize the importance of a good best practice program around on-boarding - then fret when their turnover number exceed expectations.

 

The lack of an effective on-boarding program is similar to not conducting a background check in the hiring process - it's fundamental and basic.

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Maximizing the Effectiveness of Employee Referral Programs

Maximizing the Effectiveness of Employee Referral Programs | Hire Top Talent | Scoop.it
How can businesses maximize the effectiveness of their employee referral programs to find and hire the best candidates and achieve business success?
Barry Deutsch's insight:

I think one of the most important points this article makes is that a great referral program starts with educating your employees on the value of making referrals. So many companies consider their referral program to be a set of monetary rewards - that's a sideshow. The real impact is reinforcing the value of referrals over and over with your employees.

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Hiring Mistake #2: NOT Peeling The Onion Leads to Hiring Failure

Hiring Mistake #2: NOT Peeling The Onion Leads to Hiring Failure | Hire Top Talent | Scoop.it
Next to not defining success, superficial interviewing is the second most common mistake made in the hiring process that leads to hiring failure.
Barry Deutsch's insight:

Most CEOs and executives have told me over the last 20 years that they think candidates lie, embellish, and exaggerate 100 percent of the time in interviews. Not probing, digging, validating, vetting, verifying every claim, accomplishment, and achievement is pathetic.

 

No wonder 50% of time the complaint about a bad hire is "I thought they could do X when I interviewed them - I'm surprised they cannot do it". Shame on hiring managers for not Peeling the Onion.

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How come we keep seeing the bottom 1/3 of the candidate pool?

How come we keep seeing the bottom 1/3 of the candidate pool? | Hire Top Talent | Scoop.it
Why do most of the methods used by companies to find candidates, particularly job boards and advertising, fail so often? Are there better techniques and
Barry Deutsch's insight:

As I travel around the country conducting 1-2 workshops a week with CEOs and Senior Executives on our program You're NOT the Person I Hired, the one issue that keeps surfacing over and over is the frustration around finding great candidates for open positions.

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