2. Do not put the entire burden of the company on this hire

3. Do not clone yourself

4. Do not expect to hire perfection

5. Do not start the process unless you can hire the right candidate today

6. Do not run the process out of sequence

7. Do not miss opportunities to see the candidate in action

8. Do not change the compensation plan during the process

9. Trust the instruments more than your gut

10. Do not assume you are the candidates’ only option

Here is how I define my newly minted syndrome – an irrational hope that a grossly underperforming salesperson will miraculously turn things around and become a sales superstar.  It rarely happens.

The problem stems from the business owner who has invested in this failing salesperson.  Notice I used “business owners” – I do believe this syndrome is more prevalent among this group as they are closely tied to the business (i.e. financially, emotionally, historically).  They usually have a relatively accurate count of the money invested in this salesperson.

The sinking stock analogy will be understandable to anyone who buys and sells stock.  When you purchase a stock, you expect (hope) it increases in value.  When it goes the other way, you encounter a sinking feeling as you have now lost money.  It is at this point that you need to make cold, objective decisions about the stock.  Is it going to rebound in an acceptable time frame or did you make a bad investment?

The temptation is to hang on to the stock with the expectation it will turnaround and at least get back to the buy price you paid so you can break even.  While you wait, the stock drops further and you have now lost more money.

Hope keeps you from dumping the stock.  The desire to earn back what you have lost keeps you from making the tough decision to sell.

Business owners can get caught in this same trap.  They know a salesperson is not performing and that they are losing money by continuing to keep them in the role.  Other employees see that this salesperson is not closing deals and they start to become upset.  This salesperson stays on the payroll even though it is clear that he/she cannot do the job.  At some point, the tough decision has to be made.  It can be to put together a get-well plan for the salesperson.  However, most times it is to part ways…or should I say cut your losses?

It is difficult, almost an admission of failure that hits the owner directly.  But it has to be done.

MN June Unemployment Rate Drops, Sheds 3,700 Jobs

Jobs are lost and the unemployment rate decreases…how can this be?  It is a question that begs an answer, yet you won’t find it in this article.  The closest it comes:

Minnesota’s unemployment rate dropped 0.2 percent in June to a seasonally adjusted 6.8 percent even though employers cut 3,700 jobs during the month, the Minnesota Department of Employment and Economic Development (DEED) said on Thursday.

Clearly workers had to leave the workforce or unemployment benefits expired for many Minnesotans.  It is probably a combination of both factors.  This is a critical flaw in the unemployment number.  The better approach here would be to track how many people are actually working.

We are happy to send a replacement when you receive a defective item from us.

“when”!?!

The party, akin to speed dating for the unemployed…

The idea is to provide an opportunity for job seekers to mingle with local recruiters in a more informal setting than a traditional board room. Job seekers should dress to impress, bring copies of their resume, and be ready to network, Virgin Mobile and JobsDirectUSA said.

The companies call the party “the most fun and laid-back job interview most who attend will ever experience.”