the hiring formula
TRANSCRIPT
Hiring Formula Stop Hiring Sucky People
www.ScaleTime.co
Street Cred
Academic Trinity College, BS Economics London School of Economics
Experience Entrepreneur Since Birth 13 Years of Operations ScaleTime - 3 years
What do I do? Recurring models
Process for on boarding teams and
clients
Productize your service biz
how to hire
TodayFormula = Hire better + Train faster + Manage LESS
1.How to hire
2.How to checkin
3.How to incentivize
- Bunch a Bonus -
Values
List your 3 values • all business decisions will be based
on this) • this creates your culture • place in about us of job posts
- Employees quit job in first 6 months 35% of the time -
Who to Hire first?YES
Bookeeper 35/hr Assistant 8 - 20hr Social Media 1500/ mth Operations consultant 2000/ mth
NO Chief Financial Off 120 -200K Sales Rep >40k + commission Inhouse PR
avg 60 - 80K Chief Operating Off 120-200K
- Hiring Millennials - lg achievements, athlete, work history -
My assistant sucks!Do they really? - Are they constantly asking how to do something? - Are they scattered trying to do 20 things - They don’t know what to prioritize - They constantly have to wait on you to move forward with a project?
- People take <5 mths to ramp up b4 making a contribution -
Hiring for-ever/ right now
1.Mr and Mrs Right now (what will they put in place for Mr. future)
2.Tools
3.Documentation
4.Culture
- Millennials stay on 2.3 years on average -
How ScaleTimers Recruit
Craft Job
post
Blast through Resumes
Interview&
Select
ID Budget/ Timeline
- Biz spend 3 hr/day looking for the right employee -
How ScaleTimers Onboard
Hands-on Training
Evaluation/ Goal Setup
Legal and accounting Train
- Training increases productivity by 25% -
Onboarding Handbook
Why People Quit?
• Expectations • Lack of leadership • Lack of recognition
- If you don’t have one and fire, unemployment -
how to check-in
What do you want them to do?
Think … You hired a Sales assistant but you are still doing half of the sale and closing ?
You should have hired a VA to just do research and outreach.
- Outreach.io | toutapp | yesware | close.io -
What is your employee’s product (producing)?
• Bookkeeper - a clean, reconciled p&l statement • Sales assistant - a schedule with x amount of qualified sales meetings
• Researcher - a database with x inputs • A graphic designer - specific digital assets • Community manager - number of likes, engagement posts, editorial calendar
Which Manager are you?
Micro Manager: no freedom and annoyed staff can’t make decisions on their own?
Macro manager: all vision and no direction
Sans Manager: everyone says ?
- Hiring Millennials - lg achievements, athlete, work history -
Goal SettingWhat are you looking for them to achieve ? What resources do they need to catch up? What are the numbers they need to give you? How do you determine a project successful or complete ? When are there checkins and communication ?
Checking in
•Checklist ( workflow) with Checkins •Scorecard - where are the stats they are giving you
•Where does this live? • Is it mobile? •How do you know when things are complete?
- Asana | Trello | Whiteboard.io |Todoist -
TrainingBringing them up to speed ASAP Videos with quizzes (if you don't have your own and its skill specific ) buy it Easy places to place to host learning tools Teachable - no price if no payment Have a table of contents to learning materials and resources
Prioritizing• Prioritizing and batching - staff gets
confused and you get frustrated they don't know how you make decisions and they can come in with bad habits you.
• Priority matrix - end of week, end of day, now
Separate Projects from Tasks, Prioritize and Review
how to incentivize
How much do I pay?
• Is this person domestic or abroad? • If abroad what is the going national
salary for this position? • Are they a freelancer or part of an
organization? • Are they client facing?
- salary.com -
Performance Evals
• Performance Evals / score cards - set up from day one what is it that you want them to accomplish
• For next 3 months, debrief (what did they learn)
Exercise• How many people do you have? • Who are next three hires • List want them to do • Do they have expertise or can you
teach them • How much will it cost
Top 5 Hiring Mistakes1.Not spending time crafting the job post
2.Not specifying on the application anything beyond the resume i.e. coverletter, linkedIn Profile etc.
3.Spending too much time on unqualified candidates
4.Not having a timeline for recruiting & on boarding
5.Not setting the correct expectations during on-boarding
Questions/ Answers
