Developing The High Performance Workforce 1 Notes Version

Developing the High Performance Workforce

The right people can be the difference between success & failure, profit & loss… Is that too big a statement?

. ‘ Superior Producers’ Top 16% ‘ Non Producers’ Bottom 16% ‘ Average Producers’ 68%

Why does this matter? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Source: “The validity and utility of selection methods in personnel psychology: Practical and theoretical implications of 85 years of research findings” Psychological Bulletin, Sept 1998, Vol 124, No. 2 pp 262 - 274

Imagine yours is a small company with… ,[object Object],[object Object],[object Object]

Cost of ‘Average’ vs. ‘Superior’ Performers X 0.19 = Average Salary Your cost per ‘Average’ No. in this category X = Unskilled Skilled Total Exposure if all ‘average’ (total i + ii + iii) (i) Management X 0.32 = X = (ii) X 0.48 = X = (iii) = (iv) Your cost if all in this category ‘average’ Percentage of ‘unproductive’ salary investment = £20,000 £6,400 25 £160,000 £40,000 £19,000 5 £ 85,000 £340,000 28% £10,000 £1,900 50 £ 95,000

The Bottom Line ,[object Object],[object Object],[object Object],[object Object]

Your Challenge ,[object Object]

When do people perform at a ‘superior’ level?

“ It’s not experience – or college degrees – or other accepted factors… … (it) hinges on fit with the job.” Source: Herbert M. Greenberg and Jeanne Greenberg, “Job Matching for Better Sales Performance,” Harvard Business Review, Vol. 58, No. 5.

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You get just two bites at ‘superior’ performance ,[object Object],Place the right people first time

The information-gathering process for recruitment & promotion: ,[object Object],“ ..and reviewing the present” … to predict future ‘superior’ performance Company Fit Attitudes,Values, Demeanour, Appearance, Integrity Skill Fit Education, Training, Experience, Skills, Etc.

Interviews have a 14% success rate in identifying superior people! Hunter & Hunter “Validity & Utility of Alternative Predictors of Job Performance”. Psychological Bulletin, Vol. 96, No. 1. p90

With that process, here’s what you see & recruit/promote… Here’s what you get!

& here’s what you get! With that process, here’s what you see & recruit/promote…

No business can afford the risk!

There is a missing third element that is essential… … for predicting future ‘superior’ performance Company Fit Attitudes,Values, Demeanour, Appearance, Integrity Job Fit Personality, Abilities, Interests Skill Fit Education, Training, Experience, Skills, Etc.

So how do you achieve Job Fit? ,[object Object],[object Object],[object Object],[object Object],But what information can you gather? And what do you do with it?

What information can you gather?

How do you gather it? ,[object Object],[object Object],[object Object]

And there’s a bonus ,[object Object],Source: Herbert M. Greenberg and Jeanne Greenberg, “Job Matching for Better Sales Performance,” Harvard Business Review, Vol. 58, No. 5. Without Job Match Low Turnover Industry High Turnover Industry % left / fired after 6 months 46% 24% % left / fired after 14 months 57% 28% % left / fired after 6 months 25% 5% % left / fired after 14 months 34% 8% With Job Match

What happens if you don’t put the right people in the right jobs? What happens if you don’t put the right people in the right jobs?

The impact of poor job fit Source: Gallup

Next steps: what should you do? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Next steps: what should you do? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Next steps: what should you do? ,[object Object]

Developing The High Performance Workforce 1 Notes Version

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Developing The High Performance Workforce 1 Notes Version