Sketchy Ideas

Sketchy Ideas Episode 38: First Impressions

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0:53 Intro

  • Intro/Opening remarks
  • The topic is: Hiring/Onboarding (onboarding will be next week)

    • 2:00 Sponsors

    • Shoutout to a fundraiser Michael is working with: Girls On The Run
      • Team SPEARity is raising funds to help empower girls
      • Donate here: spearity.com/giveback/michael
      • SPEARity (SPEARity.com)
      • Cream City Marketing (creamcitymarketing.com)

        • 4:30 Throwdown begins

        • Michael’s point
          • Large scale hiring is a waste of time, energy, and money
          • Mass hiring events lead to overhiring and having to let people go
          • The point: hurting people and wasting money and time
          • Brad’s point
            • Hiring more people that all have talent can cause more competitiveness and ween out the lesser qualified people
            • Does it have negative effects? Yes, but so does hiring slowly
            • Michael’s rebuttal
              • You still need to use resources to hire and onboard the extra employees in addition to the salary
              • The cost to hire someone is 125% of their salary over a year
              • Brad’s rebuttal
                • The goal is to augment the speed of hiring to hit business goals in a specific time period to scale
                • You might need to churn and burn in the short term(Cattle call approach), but it’s better that than over the long run
                • Large companies have large pools of applicants and hire too much to help scale with the intent to not keep all of them
                  • Examples: Google, Epic Systems

                    • 15:50 The biggest risk

                    • Hiring and then evaluating (not having your own data and having to use industry standards)
                      • Investing more time and money to evaluate the employee to see if they’re a good fit
                      • Need to use own data to improve hiring process to hire the right people for the position
                      • You need a long term hiring strategy
                        • “Don’t continue to use bad hiring practices” -M

                          • 18:43 When to use these caveats

                          • Hiring in bulk works in some instances for a business model
                          • When looking at it as an opportunity rather than an expense
                          • $4-5k a hire each year
                          • Using results of a role rather than a job description
                          • Sales is hard to hire for bc some sale people can sell in one arena but not in another
                            • Same with recruiters
                            • Some critical roles will take time to find the right person
                            • Some candidates in your pool do not fit your exact standards and then you can hire more than what you need bc some will eventually fall out
                              • You need to define hiring processes to limit the rate at which people fall out
                              • No role in a company will have perfect efficacy
                              • It takes 3-6 months to see if they are a good fit
                                • 3 months in, they should be 70% productive based on the goal of the hire
                                • Need to make it clear to those you are hiring why you are hiring this way

                                  • 24:40 Hiring for strategic added value

                                  • This is when mass hiring doesn’t work
                                  • For critical roles, you take your time and choose the best
                                  • For input and output role, you can hire more than needed
                                  • Don’t smash 2-3 roles together for one role
                                    • Hire several smaller roles

                                      • Full Show Notes Here

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