Entrepreneurial guide to hiring right

Written by Harish Rao on Monday, 20 February 2017. Posted in Career and business

photo 1493689485253 f07fcbfc731bPhoto by rawpixel.com on Unsplash

 

"Entrepreneurs are notoriously and truly awful at hiring people. Why? Because entrepreneurs are hopeless romantics when it comes to hiring. If someone shows belief in our ideas or more than an interest in our ideas and beliefs, we want to believe in them." - Darren Hardy, The entrepreneurship roller coaster.

Employees can normally be segregated as the good, the bad and the ugly. Who should you hire? You would say, good, right? I say NO!

Research has proven a good employee normally works at half capacity. In fact, half capacity might be an overestimation if you take into consideration, the time spent over coffee, chats with colleagues, emails, phone calls etc. So, a GOOD employee is simply not as productive. 

Things go very quickly downhill from here. A BAD employee normally works at half capacity of the GOOD employee. He/ she is not motivated, sabotaging himself/ herself and the company. 

A UGLY employee is someone you should never have hired in the first place. He/ she is finally going to cost you by way of morale, bad customer service and letting go, approximately 18 times the monthly salary. 

So, who should we be hiring? We should be hiring GREAT employees. 

  1. Great employees come for free because they will generate 10 to 20 times their value in revenues/ efficiency etc. 
  2. Great employees will attract other great employees. Look at Apple, Disney etc.

 

There are quite some more advantages/ benefits. For more information on this, you should read Topgrading by Dr. Bradford Smart.

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