Finding the Top 1% Talent IS Possible

By: Kelly Meissner on January 19th, 2018

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Finding the Top 1% Talent IS Possible

Business Strategy  |  Hire Smarter  |  Talent

Successful businesses need exceptional talent — here’s how you can hire the best

There’s no question that sourcing top talent is a critical priority for businesses — one that sets the stage for success. In fact, Steve Jobs once said that “[going] to exceptional lengths to hire the best people in the world” is the “secret to success.”

From driving productivity to staying competitive, much hinges on the quality of your organization’s people. Yet, attracting and retaining the type of highly skilled team members you need is notoriously difficult. Talent and skill shortages plague many industries — particularly in high-skill fields like technology and healthcare — making the talent search long and costly.

In the tech market, more than half of hiring managers and recruiters have admitted to hiring subpar candidates that don’t meet the job requirements out of desperation, according to one recent industry survey. While this may seem like a way to sidestep the talent wars, settling for less-than-the-best hires is a risky proposition that can backfire when it comes to fueling your business goals.

How top talent makes a difference

According to a global McKinsey & Company survey, the most productive workers outperform their peers by up to 800 percent. The more complex the role (such as software developers and managers), the bigger the gap between low and high performers.

For teams, the productivity gap is even greater. A multi-industry data analysis cited in Scrum: The Art of Doing Twice the Work in Half the Time found that top-performing teams were more productive than their counterparts by up to 2,000 times. To put this in perspective, work that a top team could complete in one week might take an underperforming team 2,000 weeks.

This means that top-performing hires enable exponentially higher productivity and output. But competition is fierce for professionals who are at the top of their field, and the demand for highly skilled workers is projected to continue to outstrip supply. So what options are businesses left with?

1. Smart, global sourcing

Restricting recruiting efforts to a certain city, region, or even country will only lead to a scarcity of qualified talent. Business leaders are increasingly recognizing the value of a global approach to hiring. An expanded talent pool offers a deeper range of skills, a wider variety of perspectives, and greater scalability.

How Crossover does it:

We recognize that talent isn’t defined by geography. Our global sourcing efforts fuel a talent network of thousands of professionals in 130 countries. This enables our clients to hire teams of top talent, choosing from pre-vetted, skill-tested candidates who have the needed abilities and expertise to add immediate value.

2. Job-based scenario testing

When it comes to hiring assessments, traditional methods like resumes, cover letters, and interviews fall short in one crucial area: they don’t provide an objective way to evaluate skills. Studies have shown that work sample tests, or job simulations, are one of the most reliable ways to predict future job performance. Other benefits include:

  • Revealing higher quality candidates than interviews alone (Harvard Business Review)
  • Reducing bias in the hiring process (The New York Times)
  • Safeguarding against hiring good “actors” that are actually a poor fit for the position (Inc.)

How Crossover does it:

Crossover has taken this concept and refined it into an effective, multi-stage screening process with skill tests customized for each role. Assessments can take the form of online testing or live hiring tournaments. Both give candidates the opportunity to preview the job, while identifying the best talent within a given skill set, refining our talent network to the top 1% of qualified applicants. Our 300:1 applicant/hire ratio — and industry-leading quality standards — ensure clients have access to only top-tier candidates.

3. Continuous performance data & feedback

Building and retaining a high-performing team doesn’t stop at finding the right hires. Monitoring productivity and progress toward goals — and providing concrete feedback — ensures contributors are constantly improving.

But at many businesses, that isn’t happening. One in four workplaces worldwide fails to support employees’ personal productivity, according to a large-scale global workplace performance study. Drawing from data from a quarter of a million employees in more than 2,000 organizations, the researchers behind this analysis make a common-sense conclusion:

“To create a high-performing workplace, all phases and activities that underpin knowledge workers need to be deeply understood.”

How Crossover does it:

Few businesses have the ability or take the time to collect deep insights about the performance and work habits of their employees — which is why Crossover developed WorkSmart.

WorkSmart is a data-driven management and workforce productivity platform that gives you access to your team’s activity and progress no matter where they’re located. By collecting real-time data in more than 30 relevant categories, WorkSmart helps teams identify top and bottom performers, pinpoint positive work habits or areas for improvement, and align individuals and teams to customizable productivity metrics.

Open the door to teams of top 1% talent

The fact is, many companies’ hiring strategies just aren’t working. Business leaders acknowledge that there is room for significant improvement when it comes to recruiting top talent, retaining their best people, and identifying top and bottom performers.

At Crossover, we understand the challenges executives and hiring managers face. Through studying the performance hundreds of teams and hiring thousands of professionals from around the globe, Crossover developed a proven system for sourcing, testing, and coaching high-skill workers.

Get in touch to learn more about building top-tier teams with Crossover.