Best of 2023: Predicting Hiring Success, Creative Marketing That Connects With People & Would You Trade Places With Warren Buffett?
24 December 2023 Newsletter
“Risk is what is left over when you think that you have thought of everything” Ben Hardy
Hope you’re Thriving!
Over the holiday season, I’ve collected some of my favourite articles and podcasts from the year to share with you. Kind of like a best-of from 2023.
Couple this with my recommended reading list and hopefully, there is something of real interest and value for you each week.
I’m keeping them short and sharp.
Enjoy your holidays and stay safe.
Creative Marketing That Connects With People
In my Onboarded book, I recount the story of Tim Clarkson from Chas Clarkson, who gives new hires a handful of blank Core Values cards on their first day as part of their SWAG. Staff are encouraged to hand-write thank you cards to co-workers when they are expressing gratitude or living the core values. Hand-written cards mean a lot more than an email or text. If you received a hand-written thank you card, you’d probably keep it as a memento. There’s just something about it today!
That’s why the creative marketing example below that I came across this week is so interesting and powerful.
I don’t know the cost of replacing windows in a house, but I’d imagine it to be in the thousands. Therefore targeted, local, effective marketing can produce tangible results.
If you received a flyer in the letterbox that had pictures of windows and described the Features, Advantages and Benefits of new windows, like many people, it would probably go straight to the bin. Maybe 1 in 100 or 1 in 1,000 would read it.
But, if you received the pink hand-written note below in the letter box, it could be 1 in 2 or 1 in 5 who read it. Sure, they’ve got the FAB, but it’s well into the landing page – which is on the QR code on the back.
People connect with people. The less human your interactions with customers or potential customers, the less they will trust you and the less likely they will buy from you.
Check out the flyer below:
Would You Trade Places With Warren Buffett?
Here’s one of the ideas that have stuck with me recently. You know the type; it just keeps bouncing around your head for days or weeks afterward.
Maybe you read the above heading and thought sure, let’s swap bank balances! But would you swap ‘today’?
Would you rather have $0 and be 20 years old or have $100 billion and be 90?
Most people respond to this hypothetical with a resounding “Of course not, there’s no amount of money I would take to fast-forward to being 90 years old.” The fact that people respond in this way means intuitively that there’s something about the utility of money – that it’s not as valuable later in life. So how do we prepare for that to enjoy a fulfilling life?
The article below discusses “The Regret Gap” between wealth and health, representing an inability to enjoy certain experiences, even if we can afford them.
Predicting Hiring Success
I came across this meta-study of HR research this week and what provides the best outcome for hiring success. Not surprisingly, ‘hiring hacks’ like trick questions or seeing how candidates interact with waiters offer little evidence of improving hiring success.
The top five predictors of hiring success, after analysing 100 years of HR research, are:
- Review a sample of on-the-job work
- General Mental Abilities tests (tests that assess a candidate’s ability to comprehend complex ideas, solve problems, and apply learned skills through questions based on abstract reasoning, numeric reasoning, and verbal reasoning)
- Structured interviews (such as Topgrading) as opposed to unstructured
- Peer ratings
- Job knowledge tests (to assess how much employees know about specific aspects on the job)
Interestingly, some of the lowest predictors of success are:
- Reference checks
- Training and Experience (T & E) Evaluations
Here’s the list:
How To Make Money
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