If Presidents Were Hired Instead of Elected What Would Be Different?

I came on this article by accident.  Hiring is a prominent issue in most businesses today because if done badly the sum of wasted money on training, supervision, staff morale, and eventual dismissal is a formidable amount.

If it is a key position the costs can be far more than the hiring and termination costs.  The business may be lost too.

The author points to Warren Buffet’s golden rule of hiring.

“Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.” –Warren Buffett

You can find the article and some more details about the thought here.  How to Hire Like Warren Buffett.

There are many other things a potential employee must bring. Technical skill, experience, presence, people skills, but as Buffett says, start with the absolute requirements.  Hiring will always be an error-prone part of business, but a simple approach can make even the most complex task doable.

It is similar to Buffett’s approach to investing.  Eliminate all the ones you are not interested in early on so you have time for the opportunities.

I have great respect for Warren Buffett and admire his ideas as being useful and well expressed.  Given his support for Hillary this one though is troubling.  I don’t see how she passes the integrity hurdle.  Perhaps he has the same problem with The Donald.  I doubt he is relying lazy and dumb to save the situation.

If we applied standard hiring techniques to elections, most candidates for office would never get an interview.  I am aware that running a government is dissimilar to running a business but that is at the secondary layer.  Skill, experience and those.  I think the three primary characteristics remain prominent.

Let’s hope it turns out better than it seems.

Don Shaughnessy arranges life insurance for people who understand the value of a life insured estate. He can be reached at The Protectors Group, a large insurance, employee benefits, and investment agency in Peterborough, Ontario.  In previous careers, he has been a partner in a large international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business.

Please be in touch if I can help you.  don@moneyfyi.com  866-285-7772

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