Nowadays there is a critical lack of honesty and integrity. For perhaps the most successful investor in history, Warren Buffett, integrity is a quality that is indispensable in building effective teams in which individual members can trust each other.
Speaking to students at the University of Florida in 1998, Buffett spoke about the competitive advantage that people make business decisions based on their integrity.
We look for three things when we hire new people. We are looking for intelligence, we are looking for initiative and we are looking for integrity. If the candidates you plan to hire do not have the latter, the first two will ruin you. If you are willing to work with a dishonest person, you have to hope that he is lazy and stupid because otherwise, he will ruin you, “says Buffett.
Integrity must always come first when evaluating candidates for a particular post. You must not forget that there are many workers who constantly jump from one job to another, following the mantra “pretend until you succeed”. These people are known to fill their CVs with half-truths and outright lies in the hope that their potential next employer will be so impressed with their performance that they will make no effort to verify that their claims have anything to do with reality.
Managers responsible for hiring new employees have to work hard
Today, managers responsible for hiring new employees have to work hard in the process of selecting candidates to make sure that they hire an honorable person. Otherwise, the “lazy and stupid” candidate described above may cost you dearly.
Following Buffett’s advice, your first job as a manager responsible for hiring new employees is to learn how to assess whether a person is honest. This can be achieved through several questions that reveal many things about the identity of job applicants:
1. Tell me about a case where you were faced with a difficult problem based on an ethical dilemma. What happened and how did you react?
2. When was the last time you “broke the rules”? What was the situation and what did you do?
3. When working with people, how would you describe your preferred relationship with them? (use this question to assess the candidate’s ability to communicate honestly and openly – an important hallmark of integrity).
4. What values do you consider most important in teamwork? (this question reveals a lot about the candidate’s sense of justice and the idea of transparency)
If you find yourself in a difficult situation with a client, would you resort to a little lie to get away “(this is a misleading question that will reveal the values of the candidate. Any respectable person would consider this question a red flag and would object to it You can explain your motive for asking this question at a later stage after judging whether the candidate has a tendency to lie).
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Conclusion
A company would lose more than $ 220 if one of its top managers left in the first year after hiring. The direct losses are approximately 100 thousand dollars, and the indirect – about 126 thousand dollars. The calculation is based on an average manager’s salary of $ 16,000. and provided that the relevant staff leaves the company less than a year after their appointment.
This is shown by the data of an innovative calculator that calculates the cost of the wrong appointment. The tool was presented in Bulgaria by the leading recruitment agency HR Management Ltd. as part of its new 360Insights service. The loss of staff turnover can be really serious, as they come from salaries, staffing and follow-up costs, poor team performance due to frequent changes of people, missed business opportunities and negative impact on the company’s reputation.
The most common reason for the recent departure of employees is the inability of the company’s expectations to coincide with those of the recently hired candidate. In many cases, there is a discrepancy between the desired personal qualities, beliefs, attitudes, etc., which are usually rarely studied in detail in the selection process. The 360Insights service eliminates both causes, using a science-based approach to assessing candidates and analyzing their temperament, behavior and attitudes. In addition, the companies themselves are subject to evaluation, which helps to clarify the expectations of both parties at the outset.
“Experience and professional skills are far from the only factors to ensure that an appointment is successful and the employee stays with the company for a long time. Personality traits can sometimes be far more important. However, conventional recruitment methods do not always take them into account and analyze them, which can have negative consequences in the long run.
Our 360Insights service seeks to solve this problem and through its innovative methodology to clarify from the beginning the companies and candidates what are the expectations of both parties and whether a crossroads can be found between them, “said the managing partner in HR Management Ltd.