Lee Phanurat-Bennett delivered a presentation entitled “Let the Startup Beware: Avoiding the Costly Mistake of Toxic Hires & Partnerships” to an audience of entrepreneurs at Thailand Startup Week 2016.
Thailand Startup Week is a five-day, entrepreneur-led, community-run event held to celebrate, showcase, empower, inspire, and grow the startup community and culture through knowledge sharing in meetings, gatherings, lectures, and other exciting activities.
Lee talked about what startups can do to limit or eliminate the likelihood of hiring the wrong person, whether as an employee, or more worryingly, as an equity partner. Lee looked at the qualities and attributes businesses need in their potential employees and partners to make their business a success, and how expertly tailored selective psychometric assessments can help ensure that the people hired will possess these desired attributes and NOT the highly toxic attributes that can do so much damage to their business.
Lee Phanurat-Bennett said:
“After working so hard to convince investors, businesses, family, friends, and everyone else you meet, to have faith in your vision and your ability to succeed, it would be foolhardy to risk throwing that all away by making a toxic hire that could seriously damage your brand, your reputation, your profits, and possibly the very survival of your company; with the possibility of costly, highly publicised, and time-consuming legal claims as well.”
Lee explained how expertly designed tests can help provide important information about the capability of a person to perform a particular role or deliver on a project, as well as assessing a person’s ability and behaviour, identifying their critical characteristics and abilities, to ensure the right person for the role is selected.
He explained that the only effective way to protect yourself and your business is by using professionals with the requisite expertise, qualifications, and experience who can create, deliver, and interpret tailored assessments. This can avoid stress, bad publicity, cost, and time-consuming legal cases moving forward; all of which distract you from getting on with your business and making it a success.
All too often businesses believe they can hire people by using poorly drafted and irrelevant template assessments, that are then inappropriately used by inexpert and untrained people who aren’t equipped to deliver or interpret the flawed results that such inadequate assessments throw up. This is simply bordering on negligence, is of no practical benefit at all, and is unlikely to provide any meaningful data on which you can properly act.
Author: Lee Phanurat-Bennett.