Topgrading® A to Z “Why you should begin your hiring process during a hiring freeze”December 1, 2012
It is needless to say that finding and hiring high performers is crucial for company success. But, in reality, most companies only begin to recruit employees after a position becomes available and often end up failing to secure the right candidate.
According to a survey*1, on average companies only hire a high performer 25% of the time. It is not easy to find someone who can be a superstar when you are recruiting under a time constraint to fill a key role.
That is why en world recommends Topgrading, a comprehensive method and tool for hiring and retaining top performers. Topgrading helps to increase the likelihood of hiring top performers up to 85%. Companies can leverage Topgrading methodology even during a hiring freeze as it is important to create a “virtual bench*2“ even before the recruiting process starts in order to connect with the best talent on the market and be prepared for the unexpected.
Developing a virtual bench requires the following steps.
1. Measure hiring success during the year
Use the “Cost of Mishires Form” to first understand the impact of mishires and underperformance on your organization. This knowledge will motivate you to take action.
2. Create a Job Scorecard
The Job Scorecard is a detailed and precise job description including a list of 50 measurable 50 competencies along with defined accountabilities for the role. This enables you to have a clear image of the skills and fit you will need for A-Player performance.
3. Create a chart of A-players
Always keep a list of high performing people you, your employees and your network is in contact with Consider how these people measure up in terms of specific scorecards and get in touch and meet with them periodically. Utilize networking events to expand the database. Developing relationships with the best people on the market gives you a view of the current talent pool and motivations of those people to join your team.
Some companies may find it difficult to implement all 12 parts of the Topgrading system due to resources or existing hiring systems. Topgrading, however, can be customized depending on your needs in order to improve your company’s system in stages.
For more information about how you can use Topgrading to hire, train and retain A-Players, contact Craig Saphin, Certified Topgrading Trainer, on +81-3-3289-3101, firstname.lastname@example.org.
*1 Topgrading Inc.’s survey of the human resource departments of “Global 100” companies.
*2 With an active virtual bench, you can clarify the selection standard and screen potential candidates for each position even before a role is open.
Topgrading is a registered trademark of Topgrading Inc.