5 Keys to Behaviorally Smart Hiring: Dont rely solely on resume, concentrate on who the person is

Great resumes can be bought. Behaviors cant be.

The only way to effectively hire and retain candidates is to ensure you not only fit the right skills to the right job but that you also find the right cultural and behavioral style fit for the role and team.

Validating behavioral intelligence will deepen engagement in each human interaction the candidate will have in the business as part of their performance. A person’s skills will be a moot point if he or she can’t effectively interact with the team and/or customers or if the person is a social butterfly when a task-oriented person is needed.? The process of exploring and validating behavioral intelligence should also uncover life and business decision-making patterns as this could determine whether or not a candidate will be a long-term, loyal, and successful hire.

Happy Candidate in the Right Role

Key 1: Alignment of vision and life direction; engaging head, heart, and talent

Ask questions to discover if the vision and direction the candidate has for his or her life aligns with the vision and direction of the organization. Another important question to investigate is whether the organization can deliver its part to bring a successful outworking of the candidates vision and life direction? If the answer is yes ? then not only will it be a great hire, but likely a long-term relationship. An individual is less likely to consider leaving when he or she is a part of working towards a shared key goal or milestone.

Key 2: Uncover life and decision making patterns

Understanding how to communicate effectively is the most valuable route to uncovering behaviors, decision making patterns and strengthening engagement. Knowing the communication style of each candidate prior to the hiring interview will enable the interviewing panel to customize their questions to the individuals communication style.

To be able to effectively uncover life and decision making patterns, its important to understand how to communicate and the right questions to ask.Gaining insight into the communication and behavioral style of a candidate will reveal how well the individual/ he or she will fit with colleagues and respond to managers and supervisors.

Key 3: Match behaviors as well as talents to the role–having the skills to do the job isnt enough

It is best to keep in mind, however, that having the skills to do the job isnt enough. People want to work with meaning. Jobseekers will apply for positions they feel match their skills but often the hiring process fails to match both talents and behaviors to the job. Whilst organizations need to secure the talent necessary for the success of the business, matching behaviors as well as talents to roles builds foundational blocks for long-term success.

Key 4: Dont hire yourself

The trap many hiring panels fall into is assuming that a great exchange between candidate and hiring panel translates to best role fit. To avoid this pitfall, the interview panel needs to understand their own individual and collective behavior, communication and decision-making style in advance. This awareness will enable the panel to adapt their communication and interviewing style to the candidates. It is natural to feel more comfortable with communication that mirrors ones own style. Conversely, its also the case that there could be an adverse response to communication styles that do not align.

Key 5: Be known as a champion organization; one that has candidates lining up to get in. Everyone wants to work for a winner. ?

Be Known as a Champion Organization

Understand and implement each of these 5 keys and you are more likely to hire effectively and retain top talent. People want to work for an organization that values talent, communicates effectively, and is known not only for its success in business but its inherent ability to know, understand and engage with employees to get the very best out of them/unlock their potential. Having a reputation as an organization that delivers their employees vision, in addition to delivering the vision of the business, will attract top talent.

Key 1: Alignment of vision and life direction; engaging head, heart, and talent.

Key 2: Uncover life and decision making patterns.

Key 3: Match behaviors as well as talents to the role; having the skills to do the job isnt enough.

Key 4: Dont hire yourself

Key 5: Be known as a champion organization; one that has candidates lining up to get in. Everyone wants to for a winner.

Theres no such thing as the perfect candidate. Look for candidates who canperform at the job with a bit of training and practice but have a communication and behavioral style thats best fit with your current team dynamics.

Remember: Great resumes can be bought. Behaviors cant be.

The Three Hidden Fears of Clients

USA Today recently reported that many people suffer from financial advisor anxiety?nervousness that makes them reluctant to share the intimate and important details of their finances with an advisor.

Whats behind this anxiety?? Fears that are so deep-rooted that it can take years before you get to fully know and understand your client. Since fears can keep your client from providing the right information to build a trusting relationship, another important question must be explored.

What makes a prospect or new client divulge the necessary information in a relatively short period of time? Trust.

So while you are building trust by asking all the right open-ended questions with the prospect, they are assessing you to see if your answers address their fears.

The Three Hidden Fears of Clients are:

  1. Does the advisor really care about me?
    Interestingly enough, this has a lot to do with both trust and instincts.? As an advisor, if you are not innately a trusting person, that will come across unless you are behaviorally aware and can modify your style. Overlay that with the clients innate level of trust and depending on the conversation, you could have an uphill battle to win over the trust of the prospect.
  2. Am I good enough? Will the advisor think I am a failure or not making the right decisions?
    Prospects that are very goal and task driven will be acutely sensitive to this. But on the surface, they can come across as very decisive and successful individuals. Vulnerability and giving away control will come very slowly with this type of person.
  3. Does the advisor have enough experience both technically and with people like me?
    They can ask you about degrees and designations but they might be looking to speak with current clients. Prospects that are much more outgoing and relationship driven can seem to be only interested in the people side of the business, but dont be fooled. They can have an even blend and quickly turn to your technical competency.

Dont forget that while you are choosing the prospect to be a client, they are choosing you as well. You need a quick, well-crafted system to capture a clients personality from the first time they meet with you.

Its only when a client can get past their fears and share all their financial details, goals and dreams that you can create a financial plan and relationship that your clients will be committed to for life. As an advisor, awareness of these client fears will lead to better, trusting, and long-term relationships with your clients.

Three Hidden Fears to Address

Manage the Stress-related Financial Risks of Your Clients

Stressed

Are your clients worriers?? If they are close to retirement, the answer is yes. And even if they are 15-20 years away from retirement, the answer is still yes. The difficult part of your job is to determine the extent of your clients worries and how it might affect their investment decisions.

A recent Gallup poll shows 59% of respondents were very or moderately worried about having enough money for retirement. ?A notable 70% of persons aged 30-49 are worried and even 50% of young adults aged 18-29 are concerned.

Advisors are worried too!? According to a Jefferson National Retirement Income Survey, 83% of advisors dont believe that the typical client has accumulated enough assets to live on using the safe withdrawal rate of 2.8%.

Objectively understanding how each of your clients will react and behave under stress or when worried will be the key to keeping them on track and committed to the agreed upon retirement plan.

Related: Learn how to Protect Clients from Themselves

Increasing costs of health care, food, transportation, and insurance can cause the golden years to seem a bit tarnished.? The thought of running out of money, being dependent on a volatile stock market and/or just being on a budget or fixed income can seem like a constraint and add stress.

How does each of your clients operate under stress?? One may want to spend more even though they know they are on a fixed budget.? Another client may want to take unnecessary market risks to make up for the shortfall.? Yet another client may be so safety conscious that they fail to make any decision and habitually second-guess your recommendations.

It is critical for advisors to go beyond the numbers and understand their clients at deeper levels.? Make the decision to become a behaviorally smart advisor. Adopt an objective system for uncovering behavior to help your clients manage their emotions to stay on track for a successful retirement.

Save your clients and yourself from stress

Behavioral Approach to Hiring Trap: The Dangers of Hiring Yourself

Right Person, Right Job, Right Fit

Hiring is one of the most significant functions of leadership. Hiring people that fit the culture of the organization can be more important than focusing on talent and skills alone. Hiring candidates that are culturally fit with your organization can help companies improve employee retention, engagement, loyalty and organizational stability. Understanding behavioral styles and how candidates would fit into not just the company culture, but the team dynamics and the specific tasks they have to perform, is fundamental to the hiring process.

Results of studies over the years vary on the exact cost of hiring the wrong person. But unquestionably, a bad hire brings exorbitant costs in the efforts of time, training, productivity, disruption, and possibly lost sales. These costs certainly include a lost opportunity to have had the right person accomplishing the tasks.

Overall, hiring is an expensive investment as it takes one of the most valuable resources: time. Therefore, it shouldn’t be rushed. Every hire must add value and fulfill a strategic role that enables the vision of the business to be expressed and implemented.

If the candidate performs well at the interview stage and theres a personal connection, exercise careful consideration as you might be in danger of hiring yourself. Hiring candidates who reflect your characteristics is a costly trap many leaders fall into.

If you are a leader involved in hiring, ensure that there is a very clear idea of the job to be filled and the value getting the right hire brings to the business. Feeling familiar and comfortable with a potential hire might not be good for the business but it takes an evaluation. Understanding how to manage different communication and behavioral styles to best engage hires with the business is a key to the evaluation and solution/ answer.

Wise leaders hire and develop people who are smarter than themselves. To be a proactive leader, understand the gaps in your own skill set and look for candidates who are able to fill those gaps in order to build a team that can deliver continuous excellent outcomes. A well rounded team leverages each team members strengths to match the tasks to be completed.

The key is to understand how to manage individuals behaviors within a team environment. Successful teams will always include, for example, relationship builders as they glue the team together and manage stake-holders expectations. Strategists, who are the planners, steer the team to deliver required outcomes on time. Initiators, who are the take charge type, motivate and author changes in direction and pace if required. Reflective thinkers question and evaluate the details.? Such behavioral factors working together bring strengths to an organization or team but also present some blind spots. As a leader, it is important to understand this dynamic and use the knowledge to draw together a cohesive, balanced, and high performing team.

Hiring the right person for the right job should involve a variety of viewpoints and skill sets. You want your team to challenge each other to achieve at the next level.

Understanding communication and behavioral styles uncovers:

  • Talents ? predictable behaviors that are ingrained
  • Learned Behaviors ? behaviors that are developed or evolved:
  • Skills
  • Knowledge
  • Experiences
  • Environments
  • Core Foundations:
  • Passion
  • Values
  • Purpose
  • Healthy Money Attitude

Leaders, heres your challenge: Use your understanding of different behavioral styles as a stepping stone guide to the right hire and:

  1. Be clear on the company and team values and company culture; who will fit in and/or what complimentary styles need to be added
  2. Evaluate the process, role, specific tasks and responsibilities that require an additional person
  3. Develop a benchmark for the “desired” behavioral style of the new hire that fits the role, the team and the company
  4. In addition to reviewing resumes, references and interview results, add a behavioral assessment for each candidate to see how close to the desired benchmark profile they are for another data point in the decision making process.
  5. Look at what the team will look like with the new person on the team (should there be a shift in responsibilities to leverage individual strengths?)
  6. Include a discussion on behavioral styles in the hiring process (this offers some really great discussions and insights that regular interview questions don’t provide.)

Invest time into building your team through both resume content and uncovering natural behavior, which provides stability over the long-term. Natural behavior is the unique mix of ingrained traits that shape how a person responds to other factors in their life that constantly change ? upbringing, workplace, learning, passion, relationships. Uncover this and you will have the right person in the right job delivering the right fit and will not have fallen into the trap of hiring yourself.