Written By: Mark Fenner
I was fortunate to hear Audrey Robertson, a Container Store vice president, talk last week about the Container Store’s Foundation Principles. The Container Store has a great concept, a fantastic reputation as an extremely well-run organization and is continuously recognized locally and nationally as one of the best places to work.
The first of their seven foundation principles is an equation: 1 Great Person = 3 Good People. Audrey focused on how employee selection is critical to maintaining the brand promise of the organization. She indicated that Container Store currently hires only three percent of all those who apply.
As Audrey explained, “if you indeed believe that with one great employee, you get three times the productivity of a good employee, you can afford to extensively train them and communicate to them, empower them and pay them 50 to 100 percent more than what other retailers might pay them.”
Many companies today don’t utilize all their resources when it comes to hiring great employees. We have a structured interview approach for our clients that includes assessments, such as the Profile XT, to provide objective data and sample interview questions Hiring managers must also analyze the reasons for under-performance and turnover. Companies need to use the assessment data from job applicants and existing employees to adjust and improve the process.
The ultimate goal is “Great Employees,” not just “Good Employees.” This can only be accomplished with a mindset of constant and never-ending improvement.