The risky business of hiring stars

The statistics are grim.

The risky business of hiring stars

As a professor and a corporate recruiting strategist, I can tell you that very few applicants truly understand the corporate recruiting process. Most people looking for a job approach it with little factual knowledge.

That is a huge mistake. Your Resume Will Face a Lot of Competition Although it varies with the company and the job, on average resumes are received for each corporate job opening.

If you post your resume online on a major job site like Monster so that a recruiter can find it, you are facing stiff competition becauseother resumes are posted on Monster alone each and every week BeHiring.

As an applicant, this funnel reveals your chances of success at each step of the hiring process. For the specific case of an online job posting, on average, 1, individuals will see a job post, will begin the application process, will complete the application, 75 of those resumes will be screened out by either the ATS or a recruiter, 25 resumes will be seen by the hiring manager, 4 to 6 will be invited for an interview, 1 to 3 of them will be invited back for final interview, 1 will be offered that job and 80 percent of those receiving an offer will accept it Talent Function Group LLC.

Six Seconds of Resume Review Means Recruiters Will See Very Little When you ask individual recruiters directly, they report that they spend up to 5 minutes reviewing each individual resume.

However, a recent research study from TheLadders that included the direct observation of the actions of corporate recruiters demonstrated that the boast of The risky business of hiring stars extended review time is a huge exaggeration.

The risky business of hiring stars

You may be shocked to know that the average recruiter spends a mere 6 seconds reviewing a resume. A similar study found the review time to be 5 — 7 seconds BeHiring. Obviously six seconds only allows a recruiter to quickly scan but not to read a resume.

We also know from observation that nearly 4 seconds of that 6-second scan is spent looking exclusively at four job areas, which are: Like it or not, that narrow focus means that unless you make these four areas extremely easy for them to find within approximately four seconds, the odds are high that you will be instantly passed over.

And finally be aware that whatever else that you have on your resume, the recruiter will have only the remaining approximately 2 seconds to find and be impressed with it. And finally, if you think the information in your cover letter will provide added support for your qualifications, you might be interested to know that a mere 17 percent of recruiters bother to read cover letters BeHiring.

That is because 61 percent of recruiters will automatically dismiss a resume because it contains typos Careerbuilder. In a similar light, 43 percent of hiring managers will disqualify a candidate from consideration because of spelling errors Adecco.

The use of an unprofessional email address will get a resume rejected 76 percent of the time BeHiring. You should also be aware that prominently displaying dates that show that you are not currently employed may also get you prematurely rejected at many firms.

Having a clear or professionally organized resume format that presents relevant information where recruiters expect it will improve the rating of a resume by recruiter by a whopping 60 percent, without any change to the content a 6.

To The Stars Academy

And if you make that common mistake of putting your resume in a PDF format, you should realize that many ATS systems will simply not be able to scan and read any part of its content meaning instant rejection. Weak LinkedIn Profiles Can Also Hurt You Because many recruiters and hiring managers use LinkedIn profiles either to verify or to supplement resume information, those profiles also impact your chances.

Ey- tracking technology used by TheLadders revealed that recruiters spend an average of 19 percent of their time on your LinkedIn profile simply viewing your picture so a professional picture may be worthwhile. Most of that roughly second job selection time reviewing the position description is actually spent reviewing the narrow introductory section of the description that only covers the job title, compensation, and location.

As a result of not actually spending the necessary time reviewing and side-by-side comparing the requirements to their own qualifications, job applicants end up applying for many jobs where they have no chance of being selected. So even if an applicant did spend the required time to fully read the job posting, they may still end up applying for a job that exists only on paper.

So even though an applicant actually meets the written qualifications, they may be later rejected without their knowledge because after they applied, the hiring manager finally decided that they actually wanted a significantly different set of qualifications.

Making it Through a Keyword Search Requires a Customized Resume The first preliminary resume screening step at most corporations is a computerized ATS system that scans submitted resumes for keywords that indicate that an applicant fits a particular job.

I estimate more that 90 percent of candidates apply using their standard resume without any customization. Even if you are lucky enough to have a live recruiter review your resume, because recruiters spend on average less than 2 seconds of the total six-second review looking for a keyword match, unless the words are strategically placed so that they can be easily spotted, a recruiter will also likely reject it for not meeting the keyword target.

No One Reads Resumes Housed in the Black hole Database If you make the mistake of applying for a job that is not currently open, you are probably guaranteeing failure. So realize that recruiters generally only have time to look at applicants who apply for a specific open job and who are then ranked highly by the ATS system.

Some Applicants Have Additional Disadvantages Because four out of the five job-related factors that recruiters initially look for in a resume involve work experience, recent grads are at a decided disadvantage when applying for most jobs.

Their lack of experience will also mean that their resume will likely rank low on the keyword count. Unfortunately, the recruiter is usually looking for reasons to reject you, in order to avoid the criticism that will invariably come from the hiring manager if they find knockout factors in your resume.

If no obvious knockout factors are found you can expect a telephone interview, and if you pass that, numerous in-person interviews note: For example, Deloitte, a top firm in the accounting field, actually brags that it only hires 3. Google, the firm with a No.Visit for the latest issue of Inc.

Magazine and get advice, tools, and services that help your small business grow. Archives and past articles from the Philadelphia Inquirer, Philadelphia Daily News, and In May , with the war for talent in high gear, Groysberg and colleagues from Harvard Business School wrote in these pages about the risks of hiring star performers away from competitors.

Case analysis for "The Risky business of Hiring Stars" by subhajit Turning a small business into a big one is never easy. The statistics are grim.

Research suggests that only one-tenth of 1 percent of companies will ever reach $ million in annual revenue.

The risky business of hiring stars

An. Feb 13,  · By applying this formula, investment bank Lehman Brothers kept many of its stars--despite paying them 25% to 30% less than what rival companies paid similar high performers.

The Idea in Practice. To grow your own stars: Recruit Good People. Use disciplined hiring practices to attract promising candidates.

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