Article summary Hiring without firing

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Hiring executives has always been an intimidating task--and modern economy makes it tougher than ever. The global scope and neck-breaking pace of business, the shrinking supply of good job candidates, and the constant shift of organizational structures have increased the stakes exponentially. One wrong hire can quickly derail a company. Recent studies indicate that between 30% and 50% of executive-level hires end in firings or resignations. So finding the right person to fill a job/profile has become even more complex. Some questions come to the author’s mind. What makes hiring go wrong so often? And how can executives substantially improve the outcome of the process? This article provides some astounding answers to these questions. Fernandez-Araoz presents ten common hiring traps and many real-life examples of how these traps have scuttled business plans in a variety of industries worldwide. These ten deadly traps or pitfalls that the author talks about are: • The reactive approach • Unrealistic specifications • Evaluating people in absolute terms • Accepting people at face value • Believing references • The ‘Just Like Me’ bias • Delegating gaffes • Unstructured interviews • Ignoring emotional intelligence • Political pressures The author gives example of unrealistic expectations by saying that some jobs can be filled by only Superman, batman and Spiderman- combined. A large consumer goods company, for instance, slipped into the delegation gaffe trap when it handed over the screening and interviewing process to a mismatched team of managers that had an agenda different from the CEO's. And the ignoring emotional intelligence trap tripped up a U.S. telecommunications company that hired a CEO with a great track record--only to fire him less than a year later when his lack of cross-cultural social skills was discovered. Hiring well

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