What We Do Before We Hire People

Summary

• I always start by zooming out before hiring a person. It's important to understand why you need to hire them and how they fit into the organizational chart and three-year plan.
• I ask questions like, "Where does this person fit now, in 6 months, and in 12 months?" and "What responsibilities will they have?"
• Often, the first hire you think you need might not be the right one. It’s crucial to reassess.
• Choosing the correct role leads to better retention because you’re more likely to get the right person, which can result in continuing a positive relationship with the firm or service used for hiring.

Video

How To Take Action

I would suggest starting by really understanding why you need to hire someone. Before you even think about posting a job or calling candidates, take a step back and look at your business’s bigger picture. Think about your goals for the next three years. Sketch out where your business is headed and how an employee fits into that vision.

A good way of doing this is by asking yourself questions like, "Where will this person fit now?" and "What responsibilities will they have in the future?" Planning six to twelve months ahead can help ensure you're getting the right person who can grow with your business.

Remember, the first hire you think you need might not be the right one. Reassess what your business truly needs. You might discover that a different role or type of employee will better serve your goals in the long run.

By doing this homework, you set the right expectations and create a clearer job description. This not only attracts better candidates but also increases the chance that you’ll hire someone who stays with your business for a long time, reducing turnover and giving you more stability. Plus, getting the right hire from the start often means you'll feel confident using the same hiring methods or services again in the future.

Full Transcript

for acquisition we place people for our portfolio companies but like the first thing we do is like zoom out and I'm like wait guys why do you want to hire this person let's pull up the or chart let's look at the three-year plan like where does this person fit now in 6 months and 12 months okay what's this person doing what's this and then a lot of times you'll find that the first hire that they think they need is not actually even the right one I've also seen that effect like retention in terms of like using that search fir again because you get the right person because you've selected the right role you're more likely to use them again