“Success and failure. We think of them as opposites, but they’re really not. They’re companions – the hero and the sidekick.”
~ Malcolm Forbes
Recruiting great employees requires you to: 1) determine who to hire, and 2) hire the right people. Today, we will discuss determining who to hire; tomorrow we’ll discuss hiring the right people.
Determining Who to Hire
In determining who to hire, you need to assess both what job functions you need now, and what functions you’ll need in the future. This will help you find the right people.
Consider this example: you need someone right now to manage your marketing. So you hire a marketing manager. A year from now, your company is doing well and you hire four more people as part of your marketing team.
Now here’s the question that arises: is the person you initially hired for the marketing position the right person to lead your marketing team? Sometimes they are, but often they aren’t. Since performing in a role yourself is a very different job than managing a team.
So, the question you need to ask yourself when you initially hire the marketing person is this: should I hire someone simply to meet my short-term marketing goals, or should I hire someone that can fulfill my short-term goals and who could also manage and grow my marketing department. The latter hire will typically be more qualified, and more expensive, so making such a decision is important.
Another tip when determining who to hire is to conduct a return on investment (ROI) analysis on new positions. That is, what expected return, typically in terms of increased profits, will the business generate in return for hiring each new staff member. The less funding you have in your business, the more important this analysis becomes in choosing who to hire now.
Check out The Leadership Blueprint
When you follow the Leadership Blueprint, you will multiply your team’s loyalty and productivity.
Today’s Question: Nokia, a major telecom company, was started in Finland in 1871. They introduced their mini Laptop in 2009. What is it called?
Previous Question: He is the sixth richest man on the planet. His children were the producers of the movie “True Grit”. Steve Jobs was the official wedding photographer at his wedding. Who is he and what is the tech company he founded?
Previous Answer: Lawrence Joseph “Larry” Ellison, Oracle.
He is one of the most wealthy Americans with a net worth of $125 billion. The bulk of Ellison’s fortune comes from his stake in Oracle.
Larry Ellison was born in the Bronx, New York to Florence Spellman, an unwed 19-year-old of Jewish heritage and an Italian-American U.S. Air Force pilot, who was stationed abroad before Spellman realized that she had become pregnant by him.
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