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Member You - How To Select The Right Person For The Job - The Three Essentials
Selling Equity In Your Business to Raise Funds to be reliable tests by correlation with previous successful candidates).Whether you are just starting a new business or need a cash infusion, the idea of selling an ownership interest will come to mind at some point. The question is whether this is a good idea or not.A business is in many ways the realization of a dream. Instead of working to put money in the pocket of someone else, you are doing it for yourself. Hopefully, you are also starting a business in a field that you find incredibly interesting. As the old saying goes, work in a field you love and you will not feel like you are working. If you can meet this goal, the money will follow sooner or later.As with many things, running a business comes with a unique set of issues that have to be addressed. Sooner or later, one of Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will b Date Stamp Machines Have you ever recruited someone who looked good at interview only to find out when they started that they “Were not up to it” or, “They just didn’t seem to fit in”. Most of us have made these mistakes (if you haven’t, then you are probably new to management). Why?Organizations and companies have a never-ending need to print dates on documents received by the company and on the documents being printed and processed by the company. Instead of going through the tedious process of printing the individual dates on each paper, one can use a date stamp machine to make things easy.The functioning of date stamp machines is very easy; all that has to be done is to insert the document on which the date is to be printed into the machine. These set off a trigger for split-second printing of the paper. Instead of printing on individual papers, one can print on numerous documents or papers at a go. Most of the date stamp machines around can print on different types of paper; they can print on • We often rely too much on the interview as the main selection process, or • We place too much emphasis on professional credentials at the expense of ability to do the job and best values fit, or • We recruit too often “in our own likeness”. What’s the best way of finding out whether someone can do the job? Try them out. Not all of us have the resources to be able to “give someone a go”, unless we are recruiting for a position such as “air traffic controller”. As a regular flyer, I know that I would be worried if the recruitment process for air traffic controllers relied principally on the interview! Having worked with a number of air traffic controllers, I now rest easy knowing that a major part of the selection process is simulations of actual flight control. So, if you have the resources, go for simulation. Without simulations, we must still rely on the interview. Unfortunately, numerous studies suggest that the interview (by itself) is an ineffective selection method. Why? Let me pose the question – “How similar is an interview to the type of work the person is expected to do?” If interviewing is not a major part of the normal day to day activities of the position for which you are recruiting, then the selection interview is not replicating the work, but is merely a discussion on what the person has done or might be able to do. Take for example the following questions, often asked: • Tell me about your duties in your last position. • What did you like most about the job? • What did you like least about the job? • Why do you want this job? • Where do you want to be five years from now? • How do you feel about working for a demanding boss? • What is your management [or marketing etc] philosophy? • What would you do if you were working for a manager who refuses to set priorities for you? • Tell me what you would do in your first few weeks in this role. Before you reach for your pen to jot down a “new one” you liked, let me make a point. Not one of these questions works! None of them helps predict future behaviour in the job for which you are recruiting. So, how can you improve the interview? A technique known as “Behaviour Description (or Event) Interviewing (BDI) has been shown to improve interview effectiveness by as much as four times. Mind you, you should still use more than the interview, but more of that later. Read the following question asked of a candidate in relation to a job requirement of “managing poor performance” and see how it differs from the previous list of questions: • Tell me about the last time you faced the situation of an employee who wasn’t performing. o What was the situation? o How did you deal with it? o What did you do? o What did you say? o What did he/she say? o How did you respond? o What was the outcome? By comparison to our previous questions, BDI asks for examples of past behaviour that the candidate has experienced, that are likely to indicate how the candidate might perform in similar situations in the current position. It specifically calls for the descriptions of events, not thoughts, feelings or hypotheses. Additionally, it prevents the candidate from lying or exaggerating as the following parts of the question will soon catch them out. So, the BDI interviewing process becomes: 1. Describe an event. 2. Describe the behaviour (what happened). 3. Describe the outcomes. In addition to the BDI interview, what do you need to add to your selection armoury? Depending on the position, there are of course the professional qualifications, but we all know that these merely get the candidate through the gate – it’s what he or she can do with their qualifications that we are interested in. For some positions, you may also decide that IQ, EQ or personality tests are useful (these need to be shown to be reliable tests by correlation with previous successful candidates). Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will be Business Planning for the Mortgage Originator So, if you have the resources, go for simulation.Have you ever considered your own business plan? Each year, millions of business owners develop or update their business plans to strategically plan for the direction their business grow in the future. As a mortgage professional you may want to consider developing a business plan of your mortgage origination business.When it comes to developing a business plan, you will find that they are not always required. There are some instances where business plans can be optional. However, that does not mean that you shouldn't plan to develop one. As a loan originator how you do start developing a business plan? That is what we will discuss next!One of the many uses of a business plan is to forecast revenue and expe Without simulations, we must still rely on the interview. Unfortunately, numerous studies suggest that the interview (by itself) is an ineffective selection method. Why? Let me pose the question – “How similar is an interview to the type of work the person is expected to do?” If interviewing is not a major part of the normal day to day activities of the position for which you are recruiting, then the selection interview is not replicating the work, but is merely a discussion on what the person has done or might be able to do. Take for example the following questions, often asked: • Tell me about your duties in your last position. • What did you like most about the job? • What did you like least about the job? • Why do you want this job? • Where do you want to be five years from now? • How do you feel about working for a demanding boss? • What is your management [or marketing etc] philosophy? • What would you do if you were working for a manager who refuses to set priorities for you? • Tell me what you would do in your first few weeks in this role. Before you reach for your pen to jot down a “new one” you liked, let me make a point. Not one of these questions works! None of them helps predict future behaviour in the job for which you are recruiting. So, how can you improve the interview? A technique known as “Behaviour Description (or Event) Interviewing (BDI) has been shown to improve interview effectiveness by as much as four times. Mind you, you should still use more than the interview, but more of that later. Read the following question asked of a candidate in relation to a job requirement of “managing poor performance” and see how it differs from the previous list of questions: • Tell me about the last time you faced the situation of an employee who wasn’t performing. o What was the situation? o How did you deal with it? o What did you do? o What did you say? o What did he/she say? o How did you respond? o What was the outcome? By comparison to our previous questions, BDI asks for examples of past behaviour that the candidate has experienced, that are likely to indicate how the candidate might perform in similar situations in the current position. It specifically calls for the descriptions of events, not thoughts, feelings or hypotheses. Additionally, it prevents the candidate from lying or exaggerating as the following parts of the question will soon catch them out. So, the BDI interviewing process becomes: 1. Describe an event. 2. Describe the behaviour (what happened). 3. Describe the outcomes. In addition to the BDI interview, what do you need to add to your selection armoury? Depending on the position, there are of course the professional qualifications, but we all know that these merely get the candidate through the gate – it’s what he or she can do with their qualifications that we are interested in. For some positions, you may also decide that IQ, EQ or personality tests are useful (these need to be shown to be reliable tests by correlation with previous successful candidates). Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will b Who Do You Be In Business? r who refuses to set priorities for you?Many of us are so wrapped up in our business that we don’t have a chance to step back and reflect for a moment, on who we are in our lives. This is a problem that all of us face at one time or another whether we are a corporate executive or a live at home parent. I can remember being a child growing up in middle class America wondering what it would be like to have all the material wealth in the world. While still in grade school, who I be was a kid whose only concerns were Saturday morning cartoons and what mom was cooking for diner. As time went on and I learned the “rules” of my parents house, as much as I just wanted to be, I created this story that I could no longer be, and had to do the things necessary to live in • Tell me what you would do in your first few weeks in this role. Before you reach for your pen to jot down a “new one” you liked, let me make a point. Not one of these questions works! None of them helps predict future behaviour in the job for which you are recruiting. So, how can you improve the interview? A technique known as “Behaviour Description (or Event) Interviewing (BDI) has been shown to improve interview effectiveness by as much as four times. Mind you, you should still use more than the interview, but more of that later. Read the following question asked of a candidate in relation to a job requirement of “managing poor performance” and see how it differs from the previous list of questions: • Tell me about the last time you faced the situation of an employee who wasn’t performing. o What was the situation? o How did you deal with it? o What did you do? o What did you say? o What did he/she say? o How did you respond? o What was the outcome? By comparison to our previous questions, BDI asks for examples of past behaviour that the candidate has experienced, that are likely to indicate how the candidate might perform in similar situations in the current position. It specifically calls for the descriptions of events, not thoughts, feelings or hypotheses. Additionally, it prevents the candidate from lying or exaggerating as the following parts of the question will soon catch them out. So, the BDI interviewing process becomes: 1. Describe an event. 2. Describe the behaviour (what happened). 3. Describe the outcomes. In addition to the BDI interview, what do you need to add to your selection armoury? Depending on the position, there are of course the professional qualifications, but we all know that these merely get the candidate through the gate – it’s what he or she can do with their qualifications that we are interested in. For some positions, you may also decide that IQ, EQ or personality tests are useful (these need to be shown to be reliable tests by correlation with previous successful candidates). Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will b Mexico Is The Greatest Consumer Of Beverages, Learn How To Sell To This Market was the outcome?Mexico is the #1 consumer of soda in the world per capita. Mexicans thirst for new beverages is great but supply is small. Learn how to be the first to market to penetrate this growing marketMexico has always been at the top of the list when it comes to Beverage Consumption. Mexico leads most categories in beverage or is in the top 10 per capita and as a country.Superstores, supermarkets and convenience stores give beverages number 1 priority in shelve space. When you go into some of these stores you see how different the beverage shelves look.I often travel Monterrey, Mexico City, Tijuana and Guadalajara checking retail accounts like supermarkets. Their first comment was "Wow, look at all this soda"! I By comparison to our previous questions, BDI asks for examples of past behaviour that the candidate has experienced, that are likely to indicate how the candidate might perform in similar situations in the current position. It specifically calls for the descriptions of events, not thoughts, feelings or hypotheses. Additionally, it prevents the candidate from lying or exaggerating as the following parts of the question will soon catch them out. So, the BDI interviewing process becomes: 1. Describe an event. 2. Describe the behaviour (what happened). 3. Describe the outcomes. In addition to the BDI interview, what do you need to add to your selection armoury? Depending on the position, there are of course the professional qualifications, but we all know that these merely get the candidate through the gate – it’s what he or she can do with their qualifications that we are interested in. For some positions, you may also decide that IQ, EQ or personality tests are useful (these need to be shown to be reliable tests by correlation with previous successful candidates). Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will b Challenge Your Disbelief in New Possibilities to Break Through to Exponential Improvements to be reliable tests by correlation with previous successful candidates).DISBELIEF: Overcome Limited Imagination and Blind SpotsThe disbelief stall is based on a valid experience, lack of relevant experience, or a previously established circumstance that no longer pertains. The bigger the new idea, the more likely it will boggle the minds of those involved.Consider this: Over a hundred years ago, Alexander Graham Bell supposedly offered his fledgling telephone business to Western Union for $100,000. Western Union reportedly turned him down cold, perceiving the telephone as an electrical toy with a limited future. Bell himself initially saw the telephone as limited to use as a substitute for town criers. Householders wondered, "Why get a telephone when I can step outside and talk to m Then of course there’s the reference. Written references are almost useless and phone references are generally ineffective for the same reasons as the standard employment interview. However, you can increase the effectiveness of references by using the BDI method over the phone with the candidate’s referee. In addition to finding out whether someone can do the job, there’s also the very important aspect of “values fit”. Will the person fit in with the people and the culture? There are numerous values questionnaires on the market that you may try, however I have two simple techniques that could save you money. Both of these are dependent on the fact that you already know what values you are looking for (that’s for another article). The first is to ask the applicant to describe their “ideal organisation”. In doing so, they will always describe the values they hold dear when looking for an employer. The second is to ask your team (the people the candidate will be working alongside) to also do a short interview – this can often be achieved in conjunction with a plant or office tour. Finally, a word of warning. One of the most frequent mistakes I see is managers recruiting in their own likeness, i.e. people who are similar to themselves in many ways. This is a natural tendency of human nature, but can be avoided if you use the BDI method, together with your team members and perhaps peers assisting in the selection of the final candidate. Copyright 2006 The National Learning Institute
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