Culture is the new king
There was a time (not very long ago) when competency and experience were king. At least in regards to hiring people to work for your business.
The resume, the references, the work history – as long as it was all in order, and the candidate had some semblance of a personality that could allow them to appear “human” during the interview process, that was good enough to land them the job.
However, over the last couple of decades, things have started to fundamentally shift. For many organizations (including ours) CULTURE is the new king. That’s not to say that competency and the ability to perform are no longer a factor. They absolutely are. But, it’s becoming increasingly common for employers to weight personality traits and cultural “fit” over competency for certain roles in their businesses.
Today, we’re going to dive into the role that personality plays when we are building out what we call “8 Figure Teams” for ourselves and our clients.
Person. Personality. Position.
First, a disclaimer of sorts. Just so that you understand that we don’t “over-weight” personality traits.
Personality is only one layer of our hiring process. There are three layers in total:
- Person – The individual’s attitude, competency, and experience.
- Position – The roles and responsibilities that will be attached to this person.
- Personality – The type of work this individual enjoys and is naturally inclined to do.
When the three of these layers align, you have a “right fit” for the role. If you want to take a deeper look at how we use these layers in determining the best fit for a role, Taylor dives deeper into it in his book, The Wealthy Consultant. For the purposes of this article, though, let’s take a closer look at why personalities matter.
Why personality matters
So, as we just established, when we are talking about a candidate’s “personality,” we are most interested in answering this question:
“What level/type of work and responsibility is naturally resonant with this person?”
By having a complete understanding of the requirements of the role in question, and a knowledge of a person’s personality traits, we can see very quickly whether there is a misalignment.
Example – you’re looking to hire a Head of Operations, to assist in managing your human capital inside of your business (a.k.a. – dealing with your people problems). You know that this person will be required to spend a large amount of their working week conversing and meeting with others, and that they will often be asked to make quick decisions with minimal information.
So, you have them take an assessment like the Culture Index, and it reveals that they have extremely low sociability (not particularly engaging and don’t enjoy talking to people any more than they have to), and that they have extremely high patience and detail traits (meaning they tend to move slowly and deliberately – and often ONLY after they know as much about a situation as possible). Just by looking at those Culture Index results, you know that the requirements of the role, and the natural disposition of the candidate are misaligned.
Does this mean that this person absolutely cannot be successful in this role? No. There’s more nuance to it than that – not to mention several other factors.
But, this one fact should be fully understood:
Misaligned personality and position will result in loss of efficiency at best and loss of effectiveness at worst.
A person cast in a role that requires that they run opposite to their natural state will expend massive quantities of energy each day “recalibrating” to try and be who they feel they need to be in order to be successful in that role.
And if they’re expending all that energy adjusting their traits, that doesn’t leave a ton of energy for the thing you actually need them to do – their job.
The Culture Index has a great way to see this in action.
Pull out a piece of paper and something to write with. At the top of the paper, write your full name with your dominant hand (right if you’re right-handed, left if you’re left-handed). Now, put the pen or pencil in your other hand and write your full name again.
Odds are that you can still do it. However, it takes you twice as long, and it doesn’t look nearly as good.
Same is true with matching personalities to roles.
Assessing personalities and positions
When we set out to build teams, we use a combination of different tests for different reasons. You do not need to use ALL of these as part of your hiring process, but you should at least use 1 to 2.
- DISC Profiles – A person’s DISC profile shows specifically how they tend to operate in working environments, and how they relate to those around them.
- Wealth Dynamics – This is a fun one if you’re building a leadership team. The Wealthy Dynamics test tells you the best and most effortless path of a specific individual to building wealth – both tangibly and intangibly.
- Culture Index – Assesses patterns in behavioral traits and compares them to the mean of the entire population. One of the deepest, and most nuanced, personality assessments out there, the Culture Index focuses on a person’s level of Autonomy, Sociability, Pace, and Detail, as well as the energy required of them to deviate from their natural state. We heavily leverage this in our businesses.
- Meyers-Briggs – One of the most popular self-administered personality questionnaires in the world, the Myers-Briggs Type Indicator is an assessment primarily focused on psychological response to others and the world around you. It measures how you interact with others and with different situations.
- Kolbe Index – The Kolbe Index is unique in that it can give you some fascinating insights into a person’s natural workflows and how they progress through problem-solving. They do this through 4 different “Action Modes” – Fact Finder, Follow Thru, Quick Start, and Implementor.
Of course, if you’re going to go to the trouble of having your candidates complete any of these assessments and gathering data from the results, you’d better also have a very clear picture of the behaviors that would make someone in this role successful.
This is one of the reasons why we make such heavy use of the Culture Index, as it allows our leadership team to fill out what it calls “C Jobs” for each role we are interested in hiring. Essentially, these are breakdowns from the team of what they believe the ideal candidate for the position looks like, thinks like, and acts like. From these C Jobs, Culture Index is able to provide you with recommended personality trait patterns for that particular role. This can be a huge benefit if you have a broad pool of candidates and would like to narrow it down quickly to just a handful who are most likely to be a good fit.
Some final thoughts
The types of personalities you hire are going to need to match the size and style of the firm you are building.
There are layers of complexity to building a team that can get your business to 8 figures and beyond. So, it’s critically important that you build the team for where you want to go – even if that means it costs you a great deal in both time and compensation in the short term.
It starts with getting the right person on the bus – then, getting that person into the right SEAT – then, making sure that they are the right VERSION of themselves for being successful in that seat. Skip any single link in the chain, and you will quickly find yourself scrambling to push and propel your team forward.
If you’re interested in getting some more advice on how we structure teams, you can start by picking up one of our most popular resources, Team Hub! This is a curated Notion dashboard that we use for handling team onboarding, resources, policies, and meeting notes – all in one place. And you can have it for free! We also snuck in several bonus trainings and other goodies all throughout the dashboard, so make sure you explore it all.
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If you are responsible for hiring and managing a team – but struggle to keep your values, processes, hiring systems, and meeting notes in order and centralized… Fret no more! You can grab our entire system in Notion dashboard form for FREE.