Have you ever hired the wrong producer?
You’re not alone, and I’ll bet I know why.
According to research, between 70 and 90 percent of hiring decisions are based on the interview. The problem is interviews have only a 14 percent accuracy rate for predicting future performance.
The secret to success is knowing what to look for, and how to get at it in an interview. I’m going to share a strategy with you that will help you do just that.
How to really measure candidates
The first step in being able to better assess potential hires is to understand what to look for. In our work to help clients make better hiring decisions, we’ve identified three levels of assessment, a model of which is pictured above. That is, three areas that people use when trying to size-up a candidate.
The first level is the first impression. It’s based on appearance, mannerisms, expressiveness and presence. It’s not particularly valuable, but we can’t help making judgements using it. A study done at Princeton University suggests that in just 100 milliseconds, people are making decisions about you, or you’re making decisions about others based on their appearance.
The second level is the kind of information you would find on somebody’s resume. This level encompasses learned skills, experience, education and credentials. This level has a greater impact on predicting performance on the job. We call that the “Can Do” level, because it tells you what this person says they can do. Here’s it doesn’t tell you: what they will do once they start working for you.
It’s the third level that tells you the most about future performance. Look at some of the characteristics level three uncovers for you and think about them in terms of assessing a successful producer.
Are they self-motivated? Do they have the persistence to make eight follow-up calls to close the deal? Do they have the maturity and capacity to learn what works with your book of business and adapt? Will their personality fit with your culture? Are they the right person to help you institutionalize your book, or will they just be out for themselves?
Keep reading for details about a highly targeted targeted interview process.