My friend Barb is a “tequila freak.”
She owns close to a hundred bottles of every type imaginable. (Who knew there were this many?!) For a time, she was even thinking about starting her own brand. And when we meet for dinner, we have to choose a restaurant based on the tequila list. Seriously.
Me? I really don’t care for tequila. For the most part, I prefer a nice glass of wine.
But last month, when we got together for dinner, Barb insisted on ordering me a shot of her favorite over ice: Don Julio ’70.
Okay, I was blown away. I really thought I knew tequila. But this was fundamentally different. Same species, but a different animal entirely.
As it turns out, candidate pools often feel the same way.
The fact is, many candidates for a given position are good and solid – they have what it takes on paper and they present well. They are, without question, acceptable tequila.
But then, and I see this in pretty much every search we do, someone comes along who just blows your mind with how good they are – and how much distance there is between them and the rest of the “good enough” pack.
Yes, or Hell Yes!?
When it comes to hiring, there are some people who are way out on the long tail of the curve. They are the rare humans who are firing on all cylinders and who line up perfectly with whatever the job requires. (Most studies show that these exceptional performers make up only 10-15% of any given candidate pool.)
And while it’s true you don’t need the best of the best for every position, when you are looking to fill a key role or contemplating a significant organizational change, you need to think differently about the hiring process.
For example, if you are trying to turn a research organization into a drug-hunting machine, transitioning from a more theoretical, academic culture to one with a commercial focus, you need someone with a range of top skills and experiences: Deep expertise that will garner respect within the organization; a leadership style sophisticated enough to understand how change happens; an ability to inspire and motivate a team so everyone gets on board.
When urgent and substantial transformation is required, less than extraordinary won’t get you there as quickly. If you are fortunate enough to hire one of these people, their impact is off the charts. McKinsey cites studies that show high performers are 400% more productive than average. In highly complex occupations (that would be biotech!), the high performers are 800% more productive.
With that in mind, here are two suggestions when looking for that extraordinary individual…
#1. Don’t Stop Too Soon
In a typical search, we will talk live to between 100 and 150 people over the course of four or five months. And that’s after culling an even greater number of candidates based solely on their paper resumes.
The people who get through this first filter look good: they have worked at solid, well-funded companies; they have demonstrated career progression from job to job; they have relevant degrees from accredited schools.
But, since they have mostly worked in similar roles to one another, after a while, they start to look and feel very much the same. The more conversations we have, the more able we are to build benchmarks — to get a strong sense for the range of options. And, the easier and more obvious it is to recognize the superstar when they walk through the door.
One thing’s for certain: If you are not wowed by anyone, and instead find yourself teasing out minor pluses and minuses among candidates, you haven’t yet found your person. You are choosing among people who, while solid, are not game-changers.
So give yourself the time required and go into the process with the assumption that you will need to talk to many people in order to find the one who will make a critical difference for you and your team.
#2. Don’t Hire the Best of the Worst
The best people are not looking for a job — they are too busy accomplishing great things in their current position.
Which means if you only consider those who respond to your ads, you are going to end up hiring the best… of the lower tier. LinkedIn ads will fill your inbox, but, with rare exceptions, not with the superstar you really want.
So where do you find the best people? Your network and the network of the AAA players you’ve already got in your organization and on your Board. Great people know other great people; make sure they know of the role and solicit their help. Give them an incentive to bring their friends and colleagues into the company.
Overall, pay close attention to the sources of the candidates you are considering. If you are choosing from the middle of the pack, you will never uncover the true gems.
Pay Now, Or Pay Later
Hiring is a distraction, I get it. It’s not “the work” — it’s the preparation that needs to take place in order for the real work of your organization to get done. So it’s easy to focus on finishing the undertaking as quickly as possible.
But the less intentional you are about the inputs you use and the process you follow, and the more willing you are to settle, the more likely you are to miss hiring the game-changer.
Be deliberate and take your time to dig in.
Back to Insights