Comments on: Show Me the Money — the Top 10 Revenue Impacts of a Great Hiring Process

By: Show Me the Money — the Top 10 Revenue Impacts of a Great Hiring Process - DoDifferent

Sat, 11 Aug 2012 17:05:53 +0000

[...] Article by Dr. John Sullivan is a well-known thought leader in HR. He is a frequent speaker and advisor to Fortune 500 and Silicon Valley firms. Tweet this [...]

By: Show Me The Money – Top 10 Revenue Impacts of a Great Hiring Process @ RPO and Talent Management Blog by Ochre House | Ochre Talk

Wed, 08 Aug 2012 10:57:41 +0000

[...] title of the newly published article by Dr John Sullivan immediately grabbed my attention and got me firmly back in the saddle of my [...]

By: The Silliness of Measuring Cost Per Hire, and How it Can Reduce Your Strategic Impact | Media Careers

Tue, 07 Aug 2012 13:05:04 +0000

[...] like an accountant (who focuses on transactional costs) and instead act strategically and focus on the more important and higher value business and revenue impacts that great recruiting can produce. If you were the CEO of the Miami Heat and you were hiring LeBron James, you would consider the [...]

By: The Silliness of Measuring Cost Per Hire, and How it Can Reduce Your Strategic Impact - ERE.net

Mon, 06 Aug 2012 09:17:06 +0000

By: B2B and Small Business Miscellany for August 3, 2012 | BizCompare.com

B2B and Small Business Miscellany for August 3, 2012 | BizCompare.com — Fri, 03 Aug 2012 21:22:44 +0000

[...] Show Me the Money — the Top 10 Revenue Impacts of a Great Hiring Process [...]

By: Leadership courage to recruit to achieve outstanding results! « Phil Rigby

Leadership courage to recruit to achieve outstanding results! « Phil Rigby — Wed, 01 Aug 2012 05:31:49 +0000

[...] about the negatives surrounding poor hires and the resulting long term cost. Here’s an article that illustrates that not all is lost when it comes to hiring the right calibre resources. In [...]

By: Keith Halperin

Keith Halperin — Tue, 31 Jul 2012 17:29:24 +0000

Thanks, Dr. Sullivan. If I understand the gist of this article it is: “We should hire good people” That makes sense.
“Google has calculated that recruiting a top technologist (versus recruiting an average one) will result in 300 times more productivity and business impact.”
1) How do they calculate that- what’s “top” and what’s” average”?
2) Why should anything that Google ( or other over-hyped “employers of choice” does for hiring be applicable or relevant to what other companies should do, except perhaps as a WARNING to the rest of us?

ISTM that the only real “revenue producers” of a company are its sales force, and it does make sense to hire the very best sales reps that you can, and not do stupid things like impose earning caps because they’re earning more than some SVPs.
If you include the actual producers of your company’s goods or services as “revenue producers, well, you SHOULD hire the best you can pay for, but if you can’t pay (or benefit, or something tangible) exceptionally well, don’t expect to have exceptionally good people doing it, unless you’re some sort of non-profit or glamor profession that everybody want s to get into…I think one of Recruiting’s biggest problems is typically not having the support to be able to tell hiring managers the reality of their situation: their position and company aren’t particularly special, so that they shouldn’t expect really special people to come work for them.

Cheers,

Keith
keithsrj@sbcglobal.net

By: Kathy Harris

Kathy Harris — Tue, 31 Jul 2012 15:35:20 +0000

Great article John. In many cases companies fail to execute on their business vision due to their inability to acquire and retain talent. Thanks for articulating the roadmap. I’d just add one point to ‘recruiting process’- timing is key to strategic hiring. I’ve seen many firms lose top candidates to competitors because they failed to act quickly. As we often say, ‘time kills all deals’…

By: Glenn Garrettt

Glenn Garrettt — Tue, 31 Jul 2012 13:31:14 +0000

John, great article. The “Final Thoughts” hits the nail on the head. I started my recruiting career in 1987. One of the biggest obstacles to my success, always seemed to be a hiring managers or any manager that wanted the best candidates for a below market salary. The best companies offer the best compensation packages and as a result get the best talent. High performance hires, know their worth.
It is our job to sell that higher salary in revenue speak to the managers. I don’t know anyone who would quibble over price if you can ‘Show them the money” on the other end.

Happy Hunting

By: Joseph Murphy

Joseph Murphy — Tue, 31 Jul 2012 12:31:59 +0000

John, thoughtful invitation to an outcome-based exploration of managing the yield of the business process called staffing. Your point “Hiring those who perform at a higher level will increase revenue” can be easily demonstrated by lookibng at low-end variation – the impact of the bottom 20%. Here is a link to a performance modeling tool to explore the revenue impact of hiring like the top 80%. Put your numbers in here to see for yourself.

http://www.shakercg.com/roi-calculators/sales-impact-of-better-selection-roi-calculator

Low end pull down has incredible negative affect on production goals. Reducing the likelihood of hiring those similar to the bottom 20% can dramatically increase top line success.

Knowing the difference is the challenge. As you suggested, better candidate evaluation is the solution.

By: Josh Tolan

Josh Tolan — Tue, 31 Jul 2012 04:10:43 +0000

These are great tips about how great hiring can lead to higher revenue. One of your tips for better hiring was to reengineer your recruiting process. A great way to do so is to embrace new technology like online video interviewing, which helps recruiters interview candidates and save money at the same time. Focusing on saving money in the recruiting process will help you to better focus on revenue-increasing hires.