Valuetainment - August 22, 2022


Hard Skills or Soft Skills - Which Pays More？


Episode Stats

Length

6 minutes

Words per Minute

203.4766

Word Count

1,272

Sentence Count

94

Hate Speech Sentences

1


Summary


Transcript

00:00:00.240 So let me ask you a question.
00:00:01.240 When it comes down to hiring somebody, what's more important to you?
00:00:03.800 Somebody you trust 100%?
00:00:05.920 Or somebody who is very specialized in their skill, maybe one of the best to do it.
00:00:10.360 But you can only choose between trust and skill.
00:00:13.480 Or somebody who's got very good soft skills, but terrible hard skills.
00:00:17.760 Which one do you value more?
00:00:18.760 We're going to process that in today's episode.
00:00:30.780 So stick around to the variant.
00:00:31.780 I'm going to give you an infographic for you to take a look at, to help you with this decision
00:00:35.480 making process.
00:00:36.480 So, soft skill, hard skill, okay?
00:00:40.140 Soft here, hard skill is on this side.
00:00:43.380 And here's what I mean by hard skill.
00:00:44.860 Hard skill is somebody that knows a very specialized skill.
00:00:48.600 So if it's coding, they know how to code.
00:00:51.560 If it's editing, they know how to edit.
00:00:53.540 If it's selling, they know how to sell.
00:00:55.160 If it's processing, they know how to process.
00:00:57.800 But it's hard skill.
00:00:58.800 It's very specific skill that requires technical expertise.
00:01:02.440 So imagine here on this chart to the left, the higher you are, the more of an expert you
00:01:08.100 are in this skill set.
00:01:09.840 So this is an expert.
00:01:11.420 This is an amateur.
00:01:12.760 But then soft skill here, the higher you are, the better you are with people.
00:01:18.140 The better of a teammate you are, the better attitude you have, the better communicator
00:01:22.320 you are, the better EQ you have.
00:01:24.180 You understand what it is to work with other people.
00:01:25.900 You can deal with multiple different personalities.
00:01:28.720 Somebody who's very quiet and timid.
00:01:30.100 Somebody who's very loud and charismatic.
00:01:32.800 You know how to work with everybody because you have soft skills.
00:01:35.100 Those.
00:01:36.100 Which of these do you value the most?
00:01:37.860 So if we were to break this down and if we were to look at this like this is a level
00:01:42.640 one and this is a level ten here and this is a level one in soft and this is somebody
00:01:47.600 who's ten here.
00:01:49.000 This would be your superstar, okay?
00:01:51.680 So you want to make a note of people that you have on your team right now that are superstars.
00:01:56.360 Really expert in what they're doing but incredible with people, personalities, attitude, reliable,
00:02:02.400 all of that together.
00:02:03.720 The least here would be somebody in this category.
00:02:07.380 You don't trust them.
00:02:08.880 They don't have their best personality, best attitude.
00:02:11.820 They also don't have specialized skill set.
00:02:14.600 The longer you wait to keep these folks with your company, the more they're going to convert
00:02:18.980 other people and hold your company back.
00:02:21.180 You have to be able to move on from folks in this category as soon as possible.
00:02:24.760 By the way, some people may say, well this is kind of cold.
00:02:27.000 This is not cool.
00:02:28.000 Why would you do something like this?
00:02:29.840 Because you don't offer soft skill nor hard skill.
00:02:33.240 Somebody has to bring something to the table, right?
00:02:34.980 That's what they have to do.
00:02:35.980 This is a competitive environment.
00:02:37.540 This is how work works.
00:02:38.880 Now let me continue.
00:02:39.980 Let me take you and give you a completely different example.
00:02:42.040 This year I saw Simon Sinek example that he talked about how the Navy SEAL valued their
00:02:47.940 running mates while they're going out there to war.
00:02:50.220 The example he gave, he explained trust in specialized skill.
00:02:54.420 So now ask this question from yourself.
00:02:56.800 Which do you value more?
00:02:58.880 Somebody you trust a lot or somebody that has a very high specialized skill.
00:03:03.180 So what if somebody's an expert but you don't trust them?
00:03:06.240 What if somebody is someone you trust but they have no clue what they're doing?
00:03:09.840 Obviously this also becomes a superstar and this becomes problematic because you don't trust
00:03:14.260 them nor do they have a specialized skill set.
00:03:17.180 And what's even worse is people here who are lukewarm.
00:03:20.720 You don't know where they are.
00:03:21.660 They're okay.
00:03:22.660 You trust them a little bit but not fully.
00:03:25.040 They have some skill set but not fully.
00:03:27.280 So you don't really know what they're doing there.
00:03:29.160 Make sense?
00:03:30.160 You want to be able to have people that are as high trusting as possible and know what
00:03:34.080 they're doing.
00:03:35.080 Again, the more people you have in this category, I guarantee if you said I got 5, 10, 15 people
00:03:40.420 in this category, you're crushing it with your company.
00:03:44.960 But if you're watching this video saying, Pat, I got nobody in this category, it's zero, you
00:03:49.540 have a problem.
00:03:50.540 You got to be able to go find people like this to have them in this category because great
00:03:53.200 companies are built by people here.
00:03:55.800 So now, if we go back up, this is the chart that I was talking to you about in regards
00:04:01.220 to trust and performance.
00:04:03.120 The top right is who?
00:04:04.620 High performing, high trust.
00:04:06.500 The middle right is what?
00:04:08.180 Mid performing, high trust.
00:04:09.800 The bottom right is what?
00:04:11.520 Low performing, high trust.
00:04:12.760 And if you look at the top left, high performing, low trust.
00:04:16.500 Take inventory of the people you have in your organization and talk about this with your employees.
00:04:22.340 I had a meeting, what was it, three weeks ago in the backyard, was it three or four weeks
00:04:26.520 ago?
00:04:27.520 I don't know what it was.
00:04:28.520 Three or four weeks ago.
00:04:29.520 And I broke this whole thing down with everybody to explain to them, listen, some of you are
00:04:34.440 here, you don't have a specialized skill, but we trust you.
00:04:38.360 You're forgiven when you're trusted by people.
00:04:41.220 When people trust you, they're more patient with you to grow.
00:04:45.220 When you have a specialized skill and people don't trust you, company has to be very careful
00:04:49.440 with that person.
00:04:50.440 You almost have to work, have them work independently.
00:04:52.620 Let's just say you get a full on genius of a person that's the best coder, but horrible
00:04:57.900 with people.
00:04:58.900 Terrible personality.
00:04:59.900 What do you do with this person?
00:05:01.100 You almost got to put them working by themselves, where they don't go out there and rub anybody
00:05:04.760 else the wrong way and get that negative personality go there.
00:05:07.780 Let's just say they're the best of the best of the best in the marketplace, totally fine
00:05:10.980 if you're willing to tolerate that.
00:05:12.980 But I have to explain to some folks, some of you guys got great attitudes.
00:05:16.880 Some of you have high trust.
00:05:18.360 Some of you are very reliable.
00:05:19.840 Some of you come in with great attitudes.
00:05:21.700 Some of you guys are coachable.
00:05:22.860 You're willing to constantly improve.
00:05:24.480 The market is going to favor you because the market today favors soft skill, favors great
00:05:31.240 attitude, favors high trust, favors reliability, favors people who show up, favors people who
00:05:37.700 want to be a great teammate.
00:05:39.080 The market is constantly going to forgive you until eventually one day you become a player.
00:05:43.500 It's just a matter of time before you become a player.
00:05:46.020 Again, I don't have an exact answer for you here.
00:05:48.680 You make a decision what type of people you want to hire.
00:05:51.040 I just gave you what approach I take.
00:05:53.140 If you want today's message I gave you, the infographic to print out, click on a link over
00:05:57.980 here to go get the printout of this infographic.
00:05:59.880 If you want to watch another video on this that I go very, very detailed and technical, it's
00:06:04.880 how to find a running mate as an entrepreneur.
00:06:06.880 If you've never watched this video, it's one of the best videos we've ever put together
00:06:10.560 on this specific topic.
00:06:12.080 Click here to watch the video.
00:06:13.080 Take care everybody.
00:06:14.080 Bye-bye.