Yahoo Finance Here’s how three top Canadian companies go about finding the right candidate for the job
It’s not easy finding the right person to hire.
Traditional methods aren’t always successful in weaning out unsuitable candidates, whether it’s because of confirmation or affinity biases.
Research has found that unstructured interviews can only explain 14 per cent of an employee’s performance, which places it ahead of reference checks at seven per cent and experience at three per cent, but behind a work sample test at 29 per cent.
People conducting interviews also tend to decide fast – like really fast. A 2000 study found that assessments made in the first 10 seconds of an interview could predict the final outcome.
But there’s also evidence that people making hiring decisions are more likely to select good candidates if they look at a candidate’s resume on its own.
Despite these challenges, companies need to make the vital decision as to whom they will add to its ranks all the time.
To gather some insight on this process, we asked some of Canada’s top businesses how they find the right person for the job.
Starting off
Joseph Ottorino, the managing director of Virgin Mobile Canada, told Yahoo Finance Canada that he likes to kick start his hiring process by asking members of his team if they know someone who would fit the job opening.
“Given they know the company and culture they’ll recommend people who would be a fit and a great team player. You’re building a team after all,” he said.
Ottorino also stressed that it’s important to explore internal options first, to see if there’s anyone who is looking for a career change or wants to develop a new skill set.
“You don’t always have to go outside. There are big benefits to building from within,” he said.
Andrea Hough, the vice-president of enterprise talent acquisition at TD Bank, said the corporation has recently taken a more proactive approach.
Hough said the bank often tries to get their hands on the top talent by reaching out through social media and hosting events.
She added that TD is also trying to show candidates, particularly for roles in innovation and technology, that it’s “much more” than what people “tend to traditionally think about a bank.”
“One of our biggest priorities, as we search for talent, is to make sure potential candidates know exactly who TD is and the range of opportunities they can find here,” she said.
“We take a lot of pride in our culture – the values that guide us in everything we do – and it’s important that people considering a career with TD understand that culture and identify with it themselves.”
Doug Guzman, group head of RBC wealth management and insurance, echoed Ottorino’s emphasis on looking internally, as well trying to poach talent from elsewhere.
Guzman said that when he used to work as an investment banker he was often trying to recruit new graduates for entry-level positions and his main focus was to “hire for talent and train for skill.”
But now he is equally set on creating a “strong succession plan” to promote from within.
He added that making sure RBC is a “great place to work” is also integral to retaining and attracting new talent.
Identifying the top talent
Guzman said he likes to look for top recruits in “untapped or unlikely pools,” such as overlooked schools.
“I think it’s important to cast a wide net and not limit recruiting to just top schools, students that have the best grades or big-name firms,” he said.
Guzman also stressed that it’s crucial to have a diverse hiring committee, so that the candidates are not homogenous.
“I firmly believe that diversity and inclusion are not just nice-to-have — they lead to more innovation and help teams make better decisions,” he said.
The interview
Ottorino has a slightly unorthodox approach to what many people consider the most important step in the hiring process.
In order to ease some of the “inherent” stress of the interview, he likes to take candidates out to a coffee shop and start with light topics, such as current events and pop culture.
“Keeping an initial interview casual and light helps the candidate become more their true self, which helps you gauge if they’re being authentic when you begin to ask them questions related to the role,” he said.
Ottorino also likes to ask candidates questions that they couldn’t possibly know the answer to, and see if they will admit their lack of knowledge, or give lip service to the topic.
“This really helps me understand the candidate’s character and how they’re likely to approach new challenges they’d encounter in the role,” he said.
Meanwhile, Guzman likes to ensure that senior leaders and high-performing workers from RBC are part of the hiring process.
He said this helps signal that the bank is taking recruiting “seriously” and that the candidate can envision themselves in those positions.
Guzman also said that he watches out for candidates who can only point to individual achievements or skills in an interview.
“I look for well-rounded people who have a track record of working well with others,” he said.
“A lot of what we do at RBC requires working on teams, so obvious ego is a sign that the candidate may not fit in with our values and people-first culture.”
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