Jeff McCarthy, Recruitment Evangelist at Indeed, talked about the impact of transformational talent in our workplace, what transformational people have in common, and how companies can recruit top talent.
“Who are transformational talent, how do you recruit them into your organization, and what are they looking for?” asked McCarthy at the outset of his thought leadership presentation at the 2017 CHRO Leadership Forum: Redefining HR as the Business Partner, held on November 30 in San Francisco. “In every field of human endeavor, there are people who are able to accomplish extraordinary things,” he stated. “What makes these people so different? What qualities unique to them do we want in our workforce? Steve Jobs realized the value of exceptional talent. There were 600 engineers involved in creating Apple OS X, and it took less than two years. Microsoft had 10,000 engineers working on Windows Vista, and that took more than five years,” he said.
“In every field of human endeavor, there are people who are able to accomplish extraordinary things. What makes these people so different? What qualities unique to them do we want in our workforce?”
Indeed asked four employers how top performers make an impact. Bain & Company responded that high performers are four times more productive than average performers. GE said they were 10 times more productive, Apple said 25 times, and Google said 300 times. “Other research we did on how top performers impact the total productivity of the workforce found that the bottom 10% of the workforce have no impact, the next 85% are responsible for 74% of productivity, the top 4% are responsible for 16%, and the top 1% are responsible for 10%,” stated McCarthy.
“Research on how top performers impact the total productivity of the workforce found that the top 4% are responsible for 16% [of total productivity], and the top 1% are responsible for 10%.”
As for what transformational people have in common, Indeed asked 1,000 hiring managers this question: “Think about the most impressive top performer you’ve worked with at your current or previous company. What’s the number-one attribute this person exemplified?” Leading attributes were:
• Problem solving
• Strategic thinking
“What makes this combination so transformational is that three of these—drive, self-direction, and initiative—represent a bias toward action, and the other two indicate a learned capability to do things effectively. For transformational talent, it’s 60% effort and 40% experience. As employers, our opportunity is to find more candidates with an innate bias to action and a track record of doing things effectively,” McCarthy said.
Recruiting and building teams that are overflowing with top talent are built on three ideas:
“We need to inspire top talent to join our organization and stay at our organization. Top talent are different in what they look for in a new job—they’re more attracted to meaningful, interesting, and challenging work and a company with a great reputation. Top talent are 10% less likely to accept a job just for better compensation and benefits but 47% more likely to accept for a better work environment. Great companies use mission, purpose, and impact to attract transformational talent,” McCarthy noted.
“In the Internet economy, top talent will find you if you make it easy. Research shows that 62% of top performers believe a job is more likely to be the right fit if they choose the company and apply themselves rather than being helped by a recruiter or someone else, and 56% believe they’ll be more successful in a job they find themselves. Three-fourths of award-winning top talent look for jobs monthly.”
“In the Internet economy, top talent will find you if you make it easy. Three-fourths of award-winning top talent look for jobs monthly.”
Companies need to make it easy for top talent to get through their door. “This is challenging for a lot of organizations,” said McCarthy. “It’s an end-to-end process. We first need to make it easy for top talent to show interest in our company, and then we need to respond quickly to applicants, wow them with a great candidate experience, build a personal connection, show them what’s special about our company, and focus the job offer on the right things. The application process should take less than 15 minutes; 13 minutes is the median time to apply at Fortune 500 companies. We found that 30% of candidates won’t spend more than 15 minutes on an application. And a mobile application process is critical, even though 56% of Fortune 500 companies don’t yet offer it.”
ABOUT JEFF MCCARTHY:
As a Recruitment Evangelist with the Indeed Employer Insights Team, Jeff McCarthy pairs platform data with industry trend analysis to share Indeed’s story and bring the value of the company’s programs and solutions to life. He has 13 years of experience in sales and marketing, with a MBA from the University of Massachusetts.