In my last blog, I showed you that you have a strong financial incentive to get your hiring right – the first time.
Recruiting new people is far more expensive than most company owners realise.
And if you have to recruit twice for the same position because you’ve made a mistake, it can seriously dent your finances.
So how do you optimise your hiring process, to maximise the chances of finding the right person?
Now, I’m a finance director – not an HR person. So I don’t have a comprehensive answer here.
But I do have one tip which I strongly believe in. It’s worked brilliantly for us here at Insight Associates.
We profile the candidates during the interview process, using a technique called Motivational Mapping.
It is an assessment which the candidate completes, which allows us to understand what really motivates people in their relationships, their achievements and their individual growth.
This makes it easier to pick candidates whose personalities and motivations fit the job at hand.
It also helps us find the candidate who best fits with the rest of our team, who have already been assessed. Any successful business needs a balance in terms of what people bring to the team – you need different types of people, not clones.
Finally, when you do hire the right person, it helps you nurture and grow them, keep them engaged and energised, and improve their performance in their role.
Don’t think for a moment, for example, that every candidate is motivated just by money, even in this volatile labour market; that is actually often not the case
The pandemic has made many people reassess exactly what is important to them in life and in their careers. There are many people who are looking for more fulfilment, more job satisfaction and more purpose and meaning in their jobs.
So for example, if you see that a particular candidate is driven by the desire to create, you can give them more innovative tasks.
Or if they seek knowledge and mastery, you can give them more training.
And if they are motivated by money, but you can’t increase their salary? You can raise their earning potential by teaching them new skills or giving them more training, too.
You know… the old ‘teach a man to fish’ idea.
When I took the assessment, I discovered that I was very driven by the desire to be in control of my own decisions without being constrained by others.
It’s hardly surprising, then, that I’ve now been managing my own ‘show’ for 30 years!
In short, as well as using motivational mapping for recruitment, you can use it to help retain good staff too, just as we do.
And that’s a financial imperative for your business, especially in the current climate.
If you’d like to find out more about motivational mapping, feel free to reach out. I’d be happy to tell you more about it.
But most of all, if you want help making good financial decisions for your business, so you can grow more smoothly, maximise your profitability and enjoy your role as founder or CEO much more, then reach out as well.
Because one thing that we’ve discovered motivates all Insight’s staff is the desire to help others and make a difference.
And we’d love to do the same for you and your company, as well.
Warmly,
Garry
