Business Know-How
many years, have been found to contain most known personality traits and are now assumed to represent the basic structure behind all personality traits. The factors are;
1.Openness- inventive and curious as opposed to consistent and cautious
2.Conscientiousness- efficient and organised as opposed to easy-going and careless 3.Extraversion-
energetic versus shy and reserved
4.Agreeableness-
outgoing and friendly and
compassionate as opposed to cold and unkind
5.Neuroticism- sensitive and nervous versus secure and confident.
All of these factors are relevant in the areas of job performance. For example, research has shown that extraversion is a valid predictor for occupations involving social interaction (e.g. management and sales), whereas one might expect conscientiousness to be a valid predictor for a finance director. Similarly, one might expect openness and extraversion to be key traits of a successful CEO. However, there can also be exceptions to the rule.
Hopefully, your recruitment and interviewing processes will enable you to get a good feel for the personality of your candidate and, at the end of the day, the likeability factor must also be taken into account. Remember that you and your team are going to have to work with your new recruit, so avoid high neuroticism and low agreeableness at all costs!
Track Record Track record is often a useful predictor, but has a number of disadvantages. Firstly, people who are seeking new roles generally talk up their past achievements, claiming the success of others for themselves. That is not to say that they did not play a part, but claims of huge successes should generally be validated rather than accepted without question. Secondly, many excellent, but younger, candidates simply do not have the track record to demonstrate their suitability for a particular role.
In these circumstances, judgements will have to be made. Track record is, therefore, a variable predictor of future success. Where it can be helpful, however, is in understanding the
general background and culture of an individual and their likely suitability for a role. Take, for example, a successful sales executive of a global brand who is looking to perform a similar role in a smaller, unknown business. One might find that the individual’s former success was due to the power of his company’s brand, and that the idea of actually having to sell something, rather than simply manage the process, is all too challenging.
For further information on how to structure your board and management team contact Guy Rigby on 020 7131 8213 or email guy.
rigby@smith.williamson.co.uk.
Disclaimer By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Smith & Williamson LLP Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A
member of Nexia International. 57 entrepreneurcountry
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