Avoiding The Hiring Hangover

Sep 14, 2020
Avoiding The Hiring Hangover

Episode Description:

The right hire can make all the difference for a new or growing business, but where do you begin? Over the course of their time as business owners, The CoLab hosts Megan Marsh and Andre Munar have crafted a hiring process that delivers top candidates. In this episode, they walk you through their process for building a better hiring mousetrap and avoiding the hiring hangover.

Show Notes:
Businesses need people to function, but finding and then hiring the right ones can be an exhausting process—especially for people starting their own business. It can leave you with a hiring hangover.

The CoLab hosts Megan Marsh and Andre Munar bring you resources and systems to prevent that pesky hangover while building your all-star team. So what is a hiring hangover? It’s that feeling of regret when you realized you’ve hired someone that isn’t working out. Megan and Andre have developed a hiring system they call “The Mousetrap” that you can adapt to your business to ensure you are employing people who are the best fit for your company.

  1. The Mousetrap consists of five steps:
  2. Create a separate email address for hiring.
  3. Check the separate email inbox once a day.
  4. Send ideal candidates a link to take a DISC (Dominance, Inducement, Submission, and Compliance) assessment.
  5. In emails to candidates, including specific instructions and exercises that can be changed based on the position or industry.
  6. Ask questions that not only explore a candidate's work experience but their motivation and goals for their career.

Ready to dive in? Here’s a preview of this episode of The CoLab:

  • [02:40] What’s a hiring hangover? Simply put, you’ve hired someone that you later regret. A bad hire can have negative long-term and short-term impacts on your business, so it’s important to bring the best onboard.
  • [05:55] For entrepreneurs who feel like they need to do it all, hiring employees can be a complicated issue. In terms of cost, it may seem daunting to take a pay cut to bring on help. Keep the big picture in mind when it comes to hiring employees and the productivity increase they could bring.
  • [08:25] Competition from other employers can add stressors to the hiring process. What kind of benefits can you offer to put you ahead of larger competitors?
  • [12:15] Say hello to “The Mousetrap,” Megan and Andre’s success system for hiring the best fit for their businesses. This system makes finding the right candidates less overwhelming and repeatable for future hires.
  • [17:00] Step 1: Create a separate email address for hiring to keep clutter from invading your main inbox.
  • [21:56] Step 2: Check the separate email inbox once a day to review resumes for qualified candidates.
  • [22:01] Step 3: Send your preferred candidates a link to complete a DISC behavior assessment.
  • [23:29] Step 4: In your email, include specific instructions and exercises that can be changed based on the position or industry.
  • [27:53] Step 5: Ask the right questions to determine if your candidate is capable and will fit with your current team.

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About The Author

Megan Marsh is one of the top mortgage brokers in the country, with her brokerage being named 2023 Regional Mortgage Broker of the Year.  Read Megan’s “About Us” story “From Fired to Financial Freedom.”

Feel Free to send Megan a message to [email protected].