placeholder
Stuart Gentle Publisher at Onrec

Warren Buffett looks for these three traits when recruiting

He looks for three main traits, although he sees one of them as more important than the other two.

Warren Buffett is one of the greatest investors of all time, and anyone in the financial industry would like to work for him. Recruiters and would-be employees can learn a lot from Buffett when it comes to recruitment. He looks for three main traits, although he sees one of them as more important than the other two.

Looking for three traits

Buffett has said that part of his success comes from being able to hire the right people. He has often praised his team for his success, giving credit where credit is due. However, it takes a special talent to be able to identify the perfect team members. Buffett says he looks for three things when it comes to recruiting employees.

"We look for intelligence, we look for initiative or energy, and we look for integrity," Business Insider quotes him as saying. "And if they don't have the latter, the first two will kill you because if you're going to get someone without integrity, you want them lazy and dumb."

Buffett explained why integrity is so important in one of his letters to shareholders of Berkshire Hathaway years ago. He said it "takes 20 years to build a reputation and five minutes to ruin it." Employees who don't have integrity can quickly ruin not only their own reputation but also the reputation of the person and company that hired them.

Honesty is the best policy

Recruiters and prospective employees alike may be surprised at how difficult it is to find integrity in employees. Inc shared data from Checkster, which helps companies make better decisions on recruitment.

The firm surveyed 400 job applicants and found that approximately 78% actually admitted to lying or said they would like about their abilities and credentials. Among the things they said they have or would lie about are the college they attended, the degrees they hold, their GPA, previous job titles, expertise and even references. Of those surveyed, 39% gave the wrong university or degree, 60% exaggerated their skills, 41% listed false job titles, and 44% gave false references.

What may be even more surprising is that most hiring managers are willing to accept employees who aren't being entirely truthful on their resumes or applications. Sixty-six percent of the 400 hiring managers, recruiters and HR professionals surveyed said they would accept lies if candidates had good explanations or if they couldn't find anyone else that would be a good fit for the job. Clearly, they aren't learning from Warren Buffett's success in recruiting.

Every company needs a solid team to be successful, and Buffett clearly understands this. A strong leader not only looks for the best candidates but also gives credit where credit is due.