Boosting Profits – Insights from a Strategic Hiring Process

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Ever wondered about effective hiring strategies? I know I have! During my recent podcast episode, Mike Michalowicz helped me understand the pitfalls of traditional interviewing. I learned how recruiting platforms, such as workshops or camps, can provide a more accurate evaluation of candidates’ skills and engagement. Quite a revolution in the hiring process!

In this episode, we discussed:

  • Mike’s upcoming book “All In” and its unique strategies
  • Mike’s process of writing and testing ideas before publishing
  • Challenges of hiring and retaining employees
  • The concept of workshops as a recruiting platform
  • Examples of businesses using workshops for hiring
  • Benefits of workshops in terms of time efficiency and identifying engaged candidates
  • The FASO model (fit, ability, safety, ownership)
  • Matching talent to tasks rather than titles
  • Creating a safe and comfortable environment for employees and treating them as owners

The key moments in this episode are:

  • [00:00:59] – The upcoming book 
  • [00:04:47] – Challenges of hiring and retaining employees
  • [00:08:16] – Using workshops or camps as a recruiting platform
  • [00:09:17] – The concept of workshops as a recruiting platform
  • [00:10:13] – The value of certificates of accomplishment in job interviews
  • [00:14:31] – The efficiency and effectiveness of workshops in hiring 
  • [00:18:18] – The Fitability of Job Roles 
  • [00:19:13] – Creating a Safe and Supportive Environment
  • [00:21:21] – Promoting Ownership and Individual Goals 
  • [00:28:00] – Challenges of hiring and retaining employees

“Can I really be my true self without a fear of consequence? When I come to work, if my employee feels that they’re one person at home and a different person at work, that’s a problem for the employer because that person at home who’s their natural true self is not able to express themselves that way.” Mike Michalowicz

Anticipating “All In”

I’m particularly excited about Mike’s upcoming book, “All In,” which is currently available for pre-order on Amazon. The manuscript is already completed and is set to be released in January. As a member of Mike’s Profit First group, I’ve been eagerly anticipating this book, especially since Mike has been teasing its content for a year.

Mike’s process of writing is meticulous and thorough. It takes him about six to seven years to produce a book, as he listens to his readership and tests concepts in his businesses before writing. He believes that “All In” contains unique strategies that are not commonly used in business.

Rethinking the Hiring Process

As someone who has made hiring mistakes in the past, I’m eager to learn the best strategies for the hiring process. Mike explains that the traditional interview process has a low success rate in finding qualified candidates, so he developed a new process that he will discuss in the book.

Mike introduces the concept of workshops as a recruiting platform. He shares examples of businesses that have implemented this strategy, such as a tax practice that hires employees from its tax class and a dog groomer that assesses candidates’ skills through a grooming workshop.

Workshops can be effective for both entry-level positions and advanced roles, as long as prerequisites are set. They provide participants with a certificate of accomplishment that improves their credentials for future opportunities. More time-efficient than traditional interviewing methods, workshops also allow employers to see who is most engaged and motivated.


The FASO Model: Fit, Ability, Safety, and Ownership

Mike introduces the FASO model, which stands for fit, ability, safety, and ownership. He explains the importance of matching talent to tasks rather than titles.

Instead of assigning employees to specific roles based on their job titles, it’s more effective to match their talents and abilities to specific tasks. This allows employees to excel in areas where they naturally thrive.

Creating a safe and comfortable environment for employees is also crucial. This includes physical safety as well as emotional and relational safety. Employees should feel free to express their true selves without fear of criticism or retribution.

Lastly, Mike talks about the concept of ownership. He believes that employees should be treated as owners and be invested in the success of the company. Leaders should take an interest in their employees’ personal aspirations and support them in achieving their individual goals.

About Mike Michalowicz:

Mike has been blessed with over half a million readers of his books. He’s been the keynote speaker at the world’s biggest business events. Mike’s built four multi-million-dollar companies and sold two of them: one to private equity and another to a Fortune 500, but those are just peak moments from decades of entrepreneurial struggles.

During that time, he repeatedly fell victim to his own arrogance and ignorance. In addition to those successes, he also: lost his house once, lost his entire fortune twice, launched ten failed businesses, and experienced years of depression. For nearly two decades, Mike lived a life of “entrepreneurial poverty” – where he was broke financially, emotionally and physically.

Mike became a business author with a clear mission: eradicate entrepreneurial poverty. He has devoted his life to fixing those struggles for you, for himself, and for every entrepreneur he had the privilege to connect with. Successful entrepreneurship is not easy, but it can be a whole lot simpler.

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