Predicting hiring success, Keeping up with AI & Jim Collins 3 Rules of Engagement for Healthy Teams
5 February 2023 Newsletter
“The best plan is only good intentions unless it degenerates into work” Peter Drucker
Hope you’re Thriving!
Aaaand we’re back!
It’s been a fantastic summer; for the past several weeks, we’ve been on a “non-ratings period”, as my friend Tristan puts it.
This means I’ve been taking a break over the past weeks while sending you weekly newsletters containing the best from the past year. But that’s over now. Back to our regularly scheduled program.
Let’s do it!
Keeping up with AI
There comes a point where numbers are so big, or something is so fast, we can’t comprehend it. It’s hard to fathom the pace of change in technology at the moment, and most people aren’t prepared for the change that’s coming. People might easily use the word exponential, but few understand what it means.
Only eight weeks ago, ChatGPT was released, posing the first real threat to Google in a generation, and in that short time, bringing more change and impact than I can even fathom – let alone include in this newsletter.
Chat GPT is an Artificial Intelligence technology, part of a broader set of exponentially evolving software that often can self-learn.
Here are some examples today:
- Natural language processing (ChatGPT)
- Autonomous cars (Telsa)
- Text-to-image generators (Midjourney/DALL-E 2)
- Deepfake video (DeepFaceLab)
- Human-like robots (Boston Dynamics)
Perhaps that all feels a long way from your business and day-to-day operations. Well, here are seven things you can consider today when considering whether it might impact your business.
- Start your research now.
It will be hard to catch up as major changes begin to impact.
- Look for how AI can improve your systems and processes.
Can you ask an AI a question like “We’re a London-based freight forward company with 120 employees; how can we improve our invoicing process?” and you get a helpful answer back?
- Invest in education and training.
Employees need to be up-to-date with the latest developments within their field to understand how AI can help both them and your business improve.
- Assess how tech-savvy employees are during the hiring process.
Are they curious about AI/tech? Do they learn quickly? What do they already know about technology?
- Investigate how robots/software can replace some people in your firm.
Supermarkets have replaced checkout operators and trained customers to do the same job. How can you reduce headcount? Can you spend $100k now to save $100k per year?
- Think about how you can have people make better decisions.
Glass AI is software that helps doctors practice medicine. You enter a diagnostic problem, and a clinical plan is recommended. Better decisions are even more important for managers – how might AI help your managers make better decisions?
- Look for ways to take mundane or repetitive tasks from team members and have them focus on relationships and the human side.
For example, a customer service rep might have 20% admin that can be automated but then realign the role, and the measures of success around Net Promoter Score – or customer satisfaction, ensuring people focus on their people skills.
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:
Vitamin D prevents Covid illness and deaths
I wrote about research showing how a healthy vitamin D level can reduce the severity of Covid back in September 2020.
This week a study was released showing that taking Vitamin D results in a 51% decreased chance of death and a 72% decreased chance of ICU administration.
How to make money
I’ve toyed with the idea of dropping memes in here once in a while. Let’s see how it goes.
This week on The Growth Whisperers Podcast
In team meetings, leaders often need a simple code of conduct through which to operate. If you have the ‘right people on the bus’, they will be self-motivated and don’t require constant coercing toward a compelling vision. In order to effectively delegate responsibility and accountability and create a high-performing team, leaders should follow Jim Collin’s three rules of engagement for healthy teams.
In this episode, we discuss Jim Collin’s three rules, what they are and why each of them are so important to create the environment for a high-performing team to thrive.
Listen to The Growth Whisperers
Or watch it on YouTube
Onboarded: Fast Track New Hires to Success – Live Virtual Masterclass with The Growth Faculty – 22 February 2023
In partnership with Growth Faculty, we are pleased to offer you 25% discount for Onboarded: Fast Track New Hires To Success – Live Virtual Masterclass with Brad Giles.
Onboarding is a critical engagement and retention tool. 69% of employees are more likely to stay with a company for three years if they experience great onboarding.
In this 60-minute masterclass, leadership coach and author of Onboarded, Brad Giles will share a simple step-by-step process to accelerate the effectiveness of new and existing team members.
“The new hire traverses three stages of understanding, learning and applying, which should be embedded, whereby at the end they are a successful fit into the role,” says Brad.
Founder of Evolution Partners, Brad works with CEOs and leadership teams to build enduring, great companies. He is the author of Made to Thrive and Onboarded.
“By implementing Brad’s onboarding strategies outlined in this book our team retention for new starters within the first 12 months doubled which had a huge impact on the culture of Aventus and ultimately our financial results.”
Darren Holland, CEO, Aventus
BOOK YOUR SPOT TODAY!
STANDARD RATE: $195 | OUR DISCOUNT NETWORK RATE: $145
Use this exclusive link ONLY to book your discounted tickets: https://thegrowthfaculty.co/3uQ0jlI
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