Million Dollar Hire Webinar

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CORPORATE LEADERSHIP COUNCIL

CLC HUMAN RESOURCES

CORPORATE EXECUTIVE BOARD

“Million Dollar Hire” A CLC HR Author’s call with David Jones of Growth Ventures Inc. Webinar 7 July 2011


A FRAMEWORK FOR MEMBER CONVERSATIONS The mission of the Corporate Executive Board is to create revolutionary economic advantage for leaders of the world’s great enterprises by enabling them to act with unparalleled intelligence and confidence. We lift their performance at key decision points and career moments by delivering insight drawn from the most powerful global executive and professional network. When we bring leaders together, it is crucial that our discussions neither restrict competition nor improperly share inside information. All other conversations are welcomed and encouraged. We look forward to the continued and robust sharing of insights by member executives and professionals at Corporate Executive Board events. COPIES AND COPYRIGHT As always, members are welcome to an unlimited number of copies of the materials contained within this handout. Furthermore, members may copy any graphic herein for their own internal purpose. The Corporate Executive Board Company requests only that members retain the copyright mark on all pages produced. Please contact your Member Support Center at +1-866-913-6447 for any help we may provide. The pages herein are the property of The Corporate Executive Board Company. Beyond the membership, no copyrighted materials of The Corporate Executive Board Company may be reproduced without prior approval. LEGAL CAVEAT CLC Human Resources has worked to ensure the accuracy of the information it provides to its members. This report relies upon data obtained from many sources, however, and CLC Human Resources cannot guarantee the accuracy of the information or its analysis in all cases. Furthermore, CLC Human Resources is not engaged in rendering legal, accounting, or other professional services. Its reports should not be construed as professional advice on any particular set of facts or circumstances. Members requiring such services are advised to consult an appropriate professional. Neither The Corporate Executive Board Company nor its programs are responsible for any claims or losses that may arise from a) any errors or omissions in their reports, whether caused by CLC Human Resources or its sources, or b) reliance upon any recommendation made by CLC Human Resources.


TODAY’S WEBINAR AGENDA Interview with David Jones on “Million Dollar Hire” insights and lessons

40 minutes

Question and Answer Session

20 minutes

ASKING QUESTIONS DURING THE CALL: To Ask a Question via Phone: The teleconference moderator will let you know when the lines have been opened for Q&A. At that time, you may press *1 on your phone keypad to be placed into the phonebased question queue. To Ask a Question via Online Chat: You may submit a question via online chat at any point during the call. 1. To do so, please enter your question in the text box on the left labeled “Submit a Question.” 2. Press the grey button to the right of the text box or the RETURN key on your keyboard to send your question to the moderator. 3. If you would like for your question to be anonymous, please mention that after your question. Otherwise, your name and title will be mentioned before the moderator asks your question on your behalf.

From CLC HUMAN RESOURCES www.clc.executiveboard.com © 2011 The Corporate Executive Board Company. All Rights Reserved. CLC0665911SYN

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TODAY’S PANELIST

David Jones Author One of the few in his profession to found and grow a major business enterprise, Dave Jones has worked as an Organizational Psychologist and human resources consultant for over 30 years. He draws on that experience in Million Dollar Hire. He was formerly the global head of human resources consulting with Aon Consulting Worldwide, one of the world’s largest HR consulting and outsourcing firms. Before that, he founded HRStrategies, recognized as one of the fastest growing consulting companies in the U.S. prior to its acquisition by Aon Corporation. Today, Jones is President of Growth Ventures Inc. Jones has designed recruiting and hiring programs for a majority of the Fortune 100. He also has lead industry-wide initiatives, creating new approaches to candidate recruiting and assessment for industries as diverse as high-tech, utilities, insurance and financial services, pharmaceutical manufacturers, automotive producers and suppliers, hospitality and dining, consumer products, and others. As technology solutions, social networking, and new approaches to candidate assessment have blossomed, he has contributed new product approaches and taken both investor and Board of Directors positions in the industry. As issues related to equal employment opportunity have grown in prominence, he has advised clients on compliance, and often serves as a consulting and expert witness in litigation settings. Jones’ accomplishments have been highlighted in The Wall Street Journal, New York Times, Investor’s Business Daily, Crain’s Business, and on business TV and radio.

From CLC HUMAN RESOURCES www.clc.executiveboard.com © 2011 The Corporate Executive Board Company. All Rights Reserved. CLC0665911SYN

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Corporate Leadership Council Presents 
 Million Dollar Hire

David P. Jones, PhD AUTHOR OF THE NEW JOSSEY-BASS RELEASE

Million Dollar Hire: Build Your Bottom Line, One Employee at a Time

Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Corporate Leadership Council Presents 
 Million-Dollar Hire

“The premise is simple: nothing can build a company, turn it around, or sink it as quickly as its recruiting and hiring decisions. No decisions an executive and his or her team make can pay off—or cost—as much as their hiring decisions.” —FROM THE PREFACE

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


It DoesnĘźt Take a Hot Economy to Make Hiring Important

April 2011 Private Sector Hiring Data 108,833,000 Employees in the Private Sector Workforce

3,700,000 Hires Made in the Month of April 2011

An Annualized 45 Million Private Sector Hiring Decisions

Source: U.S. Department of Labor – Bureau of Labor Statistics

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Todayʼs Unemployment Numbers Are Misleading, Too

May 2011 Private Sector Unemployment Rates Under 5 Percent

Nearly 15 Percent

• Bachelors Degree Roles • Management • Financial Operations • Professional Occupations

• High School Diploma Roles • Production Occupations • Construction Occupations • Transportation

A “seller’s market”…

A “buyers market”…

Source: U.S. Department of Labor – Bureau of Labor Statistics

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Hiring Decisions Involve a Lot of Money!

April 2011 Private Sector Hiring 108,833,000 Employees in the Private Sector Workforce

3,700,000 Hires Made in the Month Average Annual Comp $58,450

An Annualized $216,265,000,000 in Private Sector Hiring Decisions $2.60 Trillion For 12 Months of Hiring

Source: U.S. Department of Labor – Bureau of Labor Statistics

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Fact: The value of top versus bottom performers differs a great deal

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Valid recruiting and hiring programs build a payoff

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Technology plays a role at every stage in the hiring funnel

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Technology helps define what weʟre looking for and build a 
 stronger candidate pool

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Technology helps manage candidate volume and identify 
 the best follow-up choices

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


One of the Greatest Hiring Challenges is at the Leadership Level

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“…nearly one-half of leaders derail within two years of assuming the role.” (Hogan, In Press)

“…estimates of the cost of a failed executive leader ranges between $750K and $1.5M (DeVries & Kaiser, 2003), to as high as $2.5M” (Smart, 1999.)

“…40% of American workers report that their jobs are very or extremely stressful…their boss exceeds financial or family factors as the primary contributor.” (NIOSH, 1999)

“…75% of working adults report their boss is the greatest source of stress in their lives.” (Hogan, 2007)

“…only 38% of former employees would go back to work for their last boss.” (Curphy, 2008)

Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Where Leaders Go Wrong 1.

Show insensitivity, bullying and intimidating

2.

Be cold, aloof, and arrogant

3.

Betray the trust of others

4.

Over-manage others and fail to delegate

5.

Be overly ambitious

6.

Fail at choosing and developing people

7.

Be unable to think strategically

8.

Be unable to adapt to a new boss or situation

9.

Be overly dependent on an advocate or mentor “Both successful and derailed executives were all bright, had outstanding records of achievement, were ambitious, and were willing to sacrifice.” (McCall & Lombardo, 1983.) Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Where “The Dark Side” Enters the Conversation

“…failure is less about lacking “the right stuff” 
 and more about having “the wrong stuff” – dysfunctional characteristics that often lead to leadership failure.” (Lombardo, et al., 1988.)

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


The “Legal Risk Side” of the Hiring Equation

Ongoing and Unfolding Legal Issues New Tools – Old Rules

New Tools – Unfolding Rules

 EEOC, OFCCP, DOJ  Private Plaintiff  Disparate Impact/Treatment  Shifting Burden  Job-Relatedness  Business Necessity

 Internet Recruiting  Social Networks  Defining “Applicants”  FCRA  Ricci Implications  Continuous Improvement

Source: U.S. Department of Labor – Bureau of Labor Statistics

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Million Dollar Hire: Build Your Bottom Line, One Employee at a Time


Corporate Leadership Council Presents 
 Million-Dollar Hire

“The premise is simple: nothing can build a company, turn it around, or sink it as quickly as its recruiting and hiring decisions. No decisions an executive and his or her team make can pay off—or cost—as much as their hiring decisions.” —FROM THE PREFACE

www.million-dollarhire.com to learn more, ask questions, or offer up your own suggestions 15

Million Dollar Hire: Build Your Bottom Line, One Employee at a Time