A family-run business was about to shut shop.
To arrest the decline, they decided to hire a new MD.
He happened to be a close friend.
After joining he immediately started implementing his plan of turning around.
He wanted to make few new hires.
HR was asked to place a job advert – many job seekers applied.
But then HR did something strange.
He didn’t shortlist those that went through the stress of applying.
Instead, he brought forward the profiles which came thru referrals of the owners & staff.
Apparently, this had been the policy of the company.
Job adverts were formalities.
Hiring was traditionally done thru referrals.
My friend immediately stopped it – he knew great talents get overlooked with this model.
He ensured an equal chance for every applicant.
The new hires were all from the pool of candidates.
Few of them performed way better than expected.
Apart from hiring process, he took few more drastic steps to bring company on track.
Life would be fair if everyone gets equal opportunity but unfortunately, that’s not the case.
👉 My experience is:
There are always takers for the right talent in the market.
Companies who don’t evolve their talent management systems suffer more in the long run.