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How Hedgehogs Hire
In my last column, I explored Jim Collins' "hedgehog" principle, and how powerfully this can be used to attract great employees. After many dozens of CEO interviews, I'm convinced that leaders with well-defined hedgehogs deploy the most successful hiring models. Recent job growth figures mean that more firms are competing for the same talent. This causes additional pressure on us to determine how we can minimize attrition of our best people. I interviewed CEO's of successful small to medium-sized companies to find out how they are addressing this trend. They had to meet two criteria: First, they had to report consistent profitable growth for the last 3-5 years, and second, they had to demonstrate a serious passion for attracting and retaining good people. Rod Walker, President and CEO of Knightsbridge Technology, a consulting firm based in Chicago, meets the criteria. According to Walker, "recruiting the best talent is my number one priority. As we experience 41% CAGR, we've been challenging ourselves to attract premium people quickly while maintaining our culture." It's no wonder that Knightsbridge boasts a 15% voluntary turnover rate, much lower than today's services industry average of 25%. I also spoke with Janet Amirault, President of Software Consortium in Towson, MD. This firm provides strategic IT consulting services to clients such as Black& Decker, Sylvan Learning, and Marriott Corporation. They have delivered 15+% annual growth in the last 9 out of 10 years. Of the two good performers who resigned in the last year, both became corporate clients. These leaders shared common strategies: 1. Design the position first, then recruit. Amirault suggests, "Document the key knowledge, skills and behaviors that you need for every position." In my experience, many firms still rely on job descriptions to attract good people and skip this critical step. Some positions will always require certain credentials and education. What's often missing are the key behaviors you'll need to rapidly align this person with your company's culture, processes, and values. You'll also need to review your interview questions. For example, if you want to ensure this person has a commitment to lifelong learning (a behavior), how would you know? Amirault recommends that you "Ask very specific questions, such as 'what were the last two courses you enrolled in while you worked at ABC Company?" 2. Implement multiple candidate data collection methods. Consider personality surveys (such as PDP/Dynapro and Myers-Briggs) and external background checks (such as Kroll America). Most of these programs require less than 30 minutes of your time and may cumulatively cost less than $500. The investment is a fraction of the cost of one bad hire, which ranges from $100K in IT to millions for mortgage brokers. 3. Beef up your systems and enabling technology. According to John Walsh, President of Del Mar Database in San Diego, "Growing your own leaders can be a very effective strategy, but it requires very good business processes and technology. Internally promoted teams need better tools because of their lack of experience." The Mortgage Bankers Association projects a 47% IT capital budget increase in 2004--two thirds of which is slated to streamline processes for loan origination professionals. 4. Increase your commitment to consistently providing professional development. Knightsbridge invests over $1M annually in training and pays special attention to new hire and junior consultant development. That's nearly 3% of revenues. Software Consortium have shifted a solid percentage of their training budget from standard technical skills to leadership and sales disciplines. These great examples prove that if you treat your hiring system like gold, and your hedgehog is strong, you just may 'outfox' your competitors! Lisa Nirell is President of Nirell & Associates in Del Mar, CA. (http://www.nirell.com). She helps services leaders who create outstanding client experiences by attracting great employees. She recently completed a 10-month study of top performing services CEOs. For a free subscription to NirellNews and a Special Report on this study, call 858-481-8787, visit http://www.nirell.com, or email marketing@nirell.com. Please mention "ezinearticles.com" in your response and you may qualify for a free audio CD ($37 value) on profitable growth strategies.
MORE RESOURCES: US Department of Labor releases new Job Corps Transparency Report U.S. Department of Labor (.gov) Careers at FEMA FEMA.gov Jobs and careers | Veterans Affairs VA.gov Home | Veterans Affairs What Jobs Can You Get With a Finance Degree? | Careers | U.S. News U.S. News & World Report Careers University of Northern Colorado Navigating Opportunity: Career Information and Mobility in Low-Wage Employment American Enterprise Institute Trying to “Bring Back” Manufacturing Jobs Is a Fool’s Errand Cato Institute Careers | Career Opportunities West Virginia University Careers City of Phoenix (.gov) Careers City of Ontario, California (.gov) Careers at Prairie View A&M University PVAMU Home Employment at WKU Western Kentucky University Employment Opportunities at National Headquarters The Salvation Army USA Careers at J&J Johnson & Johnson Careers Career Paths FEMA.gov Careers | Home USDA (.gov) Careers and Jobs at CRS Catholic Relief Services Employment Opportunities Alabama Department of Public Health (.gov) Careers UC Santa Cruz Work at Fairfield Fairfield University Careers - MDOT Maryland.gov Careers Fred Hutchinson Cancer Center Working for ICE ice.gov Careers at USCIS USCIS (.gov) So, Why’d You Leave That Job? The New York Times Employment Opportunities | Game Commission Commonwealth of Pennsylvania (.gov) Careers Johnson & Johnson Store Hourly Job Areas Target Corporation Careers at TWU Texas Woman's University Work for Us (U.S. National Park Service) National Park Service (.gov) Work at Butler Butler University Jobs and Training at FDA fda.gov Explore Store Careers Target Corporation Domestic/Civil Service careers.state.gov Employment | Department of Corrections Commonwealth of Pennsylvania (.gov) How to change careers at 40 The Telegraph Work With Us National Oceanic and Atmospheric Administration (.gov) Careers at University of Missouri Health Care | University of Missouri Health Care jobs University of Missouri Health Care Careers at Simon & Schuster SimonandSchuster.biz Water Services Careers City of Phoenix (.gov) Career Opportunities Gilead Sciences Jobs City of Rochester (.gov) Career Opportunities UMHB How to Apply FEMA.gov Careers at Willamette Willamette University Full-time jobs for students Johnson & Johnson Careers Careers BASF Jobs at Liberty University Liberty University Careers Washington State University Careers at the IOC Olympics.com Employment Services for PhD Mathematicians American Mathematical Society Early Talent programmes AstraZeneca Healthcare Jobs at Novant Health | Novant Health Novant Health Future of Jobs Report 2025: The jobs of the future – and the skills you need to get them The World Economic Forum Careers and Employment Willamette University NASA Careers: Pathways NASA (.gov) Student internships at J&J Johnson & Johnson Careers Business Wire Careers & Jobs Business Wire Our Hiring Process Target Corporation Careers The Ocean Cleanup The Best Jobs in America in 2025 Money/ US News U.S. adds 228K jobs in March amidst market volatility: How investors should read the numbers Chase Bank Corporate Job Areas - Marketing & Digital Target Corporation KPMG Careers KPMG UF Health Careers UF Health Careers Store Leadership Job Areas Target Corporation Finding Your New Career at the City of Phoenix City of Phoenix (.gov) Ready for your next great job? ADP Careers Careers West Virginia Department of Education Job search KPMG Are you retiring or retired and searching for job? Here’s a guide on finding job after retirement The Economic Times Careers at Union Union College Jobs for Veterans and transitioning military VA Careers (.gov) The Gen X Career Meltdown The New York Times DOE Report Shows Clean Energy Jobs Grew at More Than Twice the Rate of Overall U.S. Employment Department of Energy (.gov) Early Careers | Students & Recent Graduates | BCG Careers Boston Consulting Group Work for the City of St. Louis City of St. Louis, MO (.gov) Current opportunities Turner & Townsend Interview Guide and Tips Target Corporation Job Opportunities Bellevue School District Microsoft mulls more job cuts, this time focused on managers and non-coders, not just low performers, sources say Business Insider Job Seekers Illinois Human Resources Gender pay gap in U.S. has narrowed slightly over 2 decades Pew Research Center RESTORING ACCOUNTABILITY TO POLICY-INFLUENCING POSITIONS WITHIN THE FEDERAL WORKFORCE The White House (.gov) Experienced Professionals | Careers | BCG Boston Consulting Group Explore BCG locations around the world Boston Consulting Group Postdoctoral Research Los Alamos National Laboratory (.gov) |
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