Recently we were making a major decision in MedRecruit for a very important leadership role in the recruitment team.
To hire an external person or to promote from within?
I believe there aren’t complicated answers, there are only complicated questions.
This is a complicated question.
So, we focussed it; what is our track record of success with recruitment leaders?
Hired three, failed with two, long path to success with one.
I give the long path to success a half point, so that’s a score of 17%.
Promoted five, great success with three, not successful with two.
Score = 60%.
So, looking at the stats, internal promotions have a higher chance of success by a multiple of 3x.
Let me be clear, all external hires went through a comprehensive evidence-based recruitment process so they wern’t frivolous decisions.
But we still got it wrong more often than not.
Now, to look internally. We had an obvious candidate so we went through a rigorous process of interviews and psychometric testing, and we promoted her.
What this process has reinforced for me is the importance of having a strong leadership pipeline. In recruitment, team leadership can make or break a team. Given this, we must always be looking to the future and building leaders to promote internally.
It’s Moneyball, in business.
When it comes to your business, what’s more important, revenue or profit?
I run a course called Board of Directors. Business owners join me for two days every three months and we go deep on their businesses, and their own personal psychology.
Recently we got some HR people in to help us improve our professional development program at MedRecruit.
People often talk about the impact they want to have… In the future.
After a crisis, most people aim to get back to the state they were in before the crisis.
Recently the World Medical Association ratified a change to the Declaration of Geneva, the modern-day Hippocratic Oath, the value-set of doctors worldwide, to include the health and wellbeing of doctors.
I was recently speaking to a group of corporates.
And I had to smile.
I speak to a lot of groups of people AND Purpose is something that I’m big on, and it invariably leads to someone asking the question, “I don’t know what I want to do. What should I do?”
“When is it giving up, and when is it changing direction?” is a question I get asked a lot.
Some people like beer.
Some people like wine.