RECRUIT LIKE AN INVESTOR

Recruit like an investor. IS IT POSSIBLE?

And what does that even mean? Let me explain why thinking a bit more like an investor can help any company that recruits.

During my years in the recruitment industry, I met many candidates who wanted to change the job and needed some advice about their future step.

And as I asked: “What would you like your next job to be?” they would very often answer with a very narrow perspective. Let me give you an example because I find it very interesting. Let’s say you have been working as Sales Manager, selling certain services. Then you might most likely think of the same role, but higher-level position, with a bigger team and bigger responsibilities, and only very rarely you would think outside the Sales. Many of you would think of changing from selling services to selling products instead, or of changing from B2C to B2B, perhaps, but not thinking of any bigger horizontal move.

A bigger horizontal career move

I know some professionals who made a horizontal jump and moved from Sales to Finance or even HR. No-one believed it is possible, at first. And of course, they probably were rejected quite a few times after their interviews, as they did not have a proven track record from the new area they wanted to jump in.

Why you should recruit like an investor?

I know Finance people who switched to Sales. Even harder 😊. How could you think the finance person will be selling? It is a completely different profile of the person, with entirely different skills needed. But, believe it or not, it is possible for a Finance person to have Sales skills. Very often, their “career path” is decided when they are young and not aware of their core talents. They didn’t even know what Sales was about! Because, maybe, nobody in their family or friends was from the Sales area. So, they had no idea of what was needed to succeed in that profession. Do you see where I am heading……..? And one day, they realize that they spent many years in a career that is not fulfilling. A career where they are not utilizing their core talents, where they can´t influence the way they would like to, etc. And when they wake up and identify their ideal future career and start their job hunt, they realize it is a challenging task.

Employees need opportunities to shine!

So, what options do they have? With more and more rejections, they start doubting if their future career opportunity will ever realize. They will lose confidence, bury their dreams, and stay unhappy in their current job for the rest of their career. Or, some of them may go on the entrepreneurial track and will establish their own company so they can employ themselves in the area they dream about. And only very very few will get the opportunity to make this horizontal move within their current company. They will meet their potential future manager, who understands the power of motivation, passions, and purpose. And who will give them the opportunity to thrive, as they finally do what they want, where they can “shine” and utilize their talents, where they can have an impact, where they feel they can grow. And they will be loyal. Much more than others, because someone gave them that opportunity. They will be performing greatly, much better than average because they finally do what they are passionate about.

Growth leads to happiness – recruit like an INVESTOR

It is the growth, which makes people happy and fulfilled, so why don’t we think of that when interviewing? Why do we think of the risks only?

We all want to hire safely. We prefer candidates with a previous background in the area we are hiring for because we expect they will know what to do from day one. Because that’s what they have proven track record of. Because that’s what they are supposed to continue doing.

Recruit like an investor: for the potential, not the skills!

Even though we often hear “Hire for the potential, not the skills,” the reality is quite different, and most recruiting managers want someone with some years of experience already. No-one wants to take a risk.

And I see it this way:

It is always a risk to hire a new team member. He/she may have a previous background, and yet it is a risk that he/she will not fit your team or company culture. That he/she will not fit your small start-up or the opposite-your large and heavy matrix organization. Or they will not perform as you expected, because they are going to do what they have been doing for many previous years, just for another company and they are a bit burned-out from that? Or they will not handle your company fast changes, because they are coming from a very stable employer.

Think and recruit like an investor

And while I do know that the risk is higher when hiring someone from a completely different area, I also think that benefits are more valuable too.

Think like an investor. The more you invest to riskier funds, the more return you may get.:-) You need to decide whether you invest in conservative funds with low return or to higher risk investments with a higher return. Investment managers always say that we must evaluate the risk and have a diverse investment portfolio, and they advise us not to put all our assets into one basket. So why don’t we dare to do the same with our team members? You may already have some team members; let’s say a team of 6-10. They have a proven track record and experience. They know ways of working, so why can´t you hire a new member with higher risk? We could all benefit from taking such a risk.

So when you are hiring next time, try to think like an investor. Think of your current portfolio, evaluate the assets you have, and assess the risks when investing in higher return risk funds.

And then, you may start calling me “the talent investment advisor.” Talent acquisition is quite outdated, don’t you think?

With passionate regards ,-)

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