According to Leadership IQ’s Global Talent Management Survey, a shockingly low percentage of new hires succeed in their new positions. The study assessed thousands of companies across a range of topics, including leadership, engagement, retention, recruiting, and “culture fit”.
The research tracked 20,000 new hires, 46% of them failed within 18 months. But even more surprising than the failure rate, was that when new hires failed, 89% of the time it was for attitudinal reasons and only 11% of the time for a lack of skill. The attitudinal deficits that doomed these failed hires included a lack of coachability, low levels of emotional intelligence, motivation and temperament.
New hires failed for these reasons:
- Coachability – Coachability is the number one reason new hires fail. 26 percent of new hire fail due to their inability to accept feedback from those they work with, including bosses, colleagues, and customers.
- Emotional intelligence – A close second to lack of coachability is lack of emotional intelligence. 23 percent of new hires fail due to their inability to understand their emotions, and those of others.
- Motivation – 17 percent of new hires fail due to lack of motivation. They lack the drive to succeed and excel in the job.
- Temperament – 15 percent of new hires fail because their attitudes and personalities are unsuited to the functions and tasks of the job and conditions of the work environment.
It’s not that technical skills aren’t important, but they’re much easier to assess (that’s why attitude, not skills, is the top predictor of a new hire’s success or failure). Virtually every job (from neurosurgeon to engineer to PA) has tests that can assess technical proficiency. But what those tests don’t assess is attitude; whether a candidate is motivated to learn new skills, think innovatively, cope with failure, assimilate feedback and coaching, collaborate with teammates, and so forth.
Ineffective candidate assessment is the problem with most traditional recruitment strategies.
Traditional recruitment strategies produce candidate pools where the skills and experience required are evident but they fail to look deeper.
Soft skills are the capabilities that attitude can enhance or undermine. For example, a newly hired executive may have the intelligence, business experience and financial acumen to fit well in a new role. But if that same executive has an authoritarian, hard-driving style, and they’re being hired into a social culture where happiness and camaraderie are paramount, that combination is unlikely to work.
Additionally, many training programs have demonstrated success with increasing and improving skills—especially on the technical side. But these same programs are notoriously weak when it comes to creating attitudinal change.
The key to reducing high hire failure rate is to revisit your processes and focus on hiring for attitude.
This doesn’t mean you don’t pay attention to technical skills and experience, of course you must, but you must also seek to understand the beliefs’ attitude and behaviours or Mindset of candidates to ensure you have the right fit with your company mission and culture.
Define the high-performer Mindset you want, and create a benchmark.
Look at your best employees, the ones with outstanding performance and great attitudes. Make a list of up to 10 things that make them high-performers in your organization, such as being collaborative, meeting commitments, or any other traits that make them valuable.
Look for candidates who have a growth mindset, that are open to input and constructive criticism from bosses, peers, and workgroups. These people can make appropriate adjustments in their attitudes and work habits for the good of the company as well as their own careers.
Talent mindset companies — although interested in the person’s job experience — focus their attention on the individual’s leadership capability and potential for career growth. They assess external candidates based on the same competencies used to promote internal managers to higher levels, and are particularly interested in the following:
- Abstract, conceptual thinking ability and comfort in dealing with ambiguity: keys to strategic thinking.
- Risk-taking and level of comfort in standing alone and going against the “organization grain”: the foundation elements of innovation and leading change, even if that entails pushing the organization out of its comfort zone in the interest of implementing change.
- Empathy and organization knowledge/savvy: the empathy to read people and situations and the ability to influence peers and co-workers in order to successfully drive initiatives that cross organizational boundaries.
- The ability to set high standards while letting go of certain details: critical components of managing implementation without the manager getting unduly tied up in detail or succumbing to micromanagement.
At Mindset Search we have the right methodology to assess candidates for these competencies:
We manage your search assignment through our unique online assessment portal, My-Mindset. Our award-winning combination of advanced technology and cutting-edge methodology produces, in-depth candidate assessment that reveals candidate mindsets, reducing guess work, streamlining the recruitment process, and improving new employee retention.
Our clients use our behavioural profiler tool to create a benchmark person profile for each role. Candidates create and upload their own content, including an elevator pitch video, so they can highlight specific elements of their skills and experience that they feel are most important whilst behavioural assessments, video interviewing and competency questionnaires provide in-depth candidate analysis.
We conduct thorough due diligence on your chosen candidate gaining references from previous line managers, clients and from their previous direct employees. 96% of new employees recruited using my-mindset are still in place after a minimum of 12 months
We are so confident in our methodology that we offer a full 12 month replacement guarantee on the successful hire. Get in touch find out how we can improve the quality, culture fit and retention of your senior hires.
Find out more at http://www.mindsetsearch.com
call freephone: 0800 689 4275
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