Hiring for Talent Optimization with Mike Zani of The Predictive Index

“There is work that needs to be done and I just need someone good to do the work”

*** sigh ***

This is what we tell ourselves when we decide to hire someone. But it is so much deeper than just getting a butt in the seat! 

Growth is the most important factor here. So, we must start with the end in mind to avoid making HUGE hiring mistakes! 

Yes, we need to get the work done but will this person really help your company grow? And more importantly, can your company provide the growth that the person you want to hire desperately desires?

Our guest today: Mike Zani, CEO of The Predictive Index.

Mike Zani, the Wall Street Journal best selling author of The Science of Dream Teams, is CEO of The Predictive Index, the leader in talent optimization. Prior to The Predictive Index, Mike served as president of LEDCO, a manufacturer of rugged computer peripherals. It was at LEDCO where Mike, a customer of The Predictive Index, developed his passion for the company’s vital management tools. 

An avid sailor, Mike began his career in marketing and sales with Vanguard Sailboats and was a coach for the 1996 U.S. Olympic Sailing Team. He holds a B.S. from Brown University and an MBA from Harvard.

Today we discuss:

Hiring for Talent optimization

What is talent optimization

How to hire for it

Challenge today?

How to you hire well within the context of time & risk

What risk are you willing to take on bad hires?

Systems in place to support the risk

30, 60, 90 day check ins to support 

Do you just want t body in a seat

Persona 

A talent optimized system allows you to train & develop

Need to develop the programs to support

Why is this important to the company?

We are 30 years behind sport in bringing analytics for hiring

What is sport doing now?

TA is the single most important function in the organization

Need to take a maniacal approach to hiring.

Fantasy league hiring takes more time than hiring to companies

Data drives success

Performance measurement

Rick’s Nuggets

Getting the right person the the bus is FAR more important than getting work done

If the work is that important, hire a contractor

The mistake made is the optimism of the founder

Assumptions

Hire on their potential (assumed), bias (assumed) & need (get it off my plate)

Zero time is taken to understand what the other person desires, other than a paycheck

Consider this: The cost for every bad hire is $2M

How do we solve the problem? 

Top of funnel strategy

Clear mission

Hiring brand that attracts talent

Palpable culture - Strong enough that it disqualifies people

Great referral strategy - cash after 6 months,

Bottom of funnel strategy

Hiring systems

Strong assessments -behavioral , cognitive, analytics

Hiring process, structured interviewing

Training- especially on cultural interview aspects

interviewer grading, scoring, developing

Remove people who are bad interviewers

Post hire Strategy

Benchmarks 

Performance systems - 30,60,90 day

Hire for buoyancy!

Rick’s Nuggets

Mid Funnel Strategy

The Interview

Structured & timed

Values aligned

 Challenging

Does the interview produce evidence to support the decision

Is the evidence supported by the assessment?

Key Takeaways -Value:

Need a post-hire system! 

Can take more risk 

Need to have a feedback loop to add/subtract people from the interviewing process.

Guest Links:

LinkedIn: https://www.linkedin.com/in/mikezani/ 

Company: https://www.predictiveindex.com/

Twitter: https://twitter.com/predictiveindex?lang=en

Facebook: https://www.facebook.com/predictiveindex/

Instagram: https://www.instagram.com/thepredictiveindex/?hl=en

YouTube: https://www.youtube.com/channel/UCexehrVsBrP9SiNeBm4pY7Q

This show is proudly sponsored by Criteria Corp: https://www.criteriacorp.com/