NW Recruiting Partners: August Newsletter
What is PSD? Check out this memo from Alan Greenberg of Bear Stearns.
In 1981, Alan Greenberg wrote the famed Bear Sterns memo, introducing the business world to the concept of PSD: Poor, Smart, and with a Deep Desire to become rich. In other words, Greenberg highlighted a preference for smart, driven, hungry people over people with traditional, on-paper qualifications.
In the competitive business world, finding the right talent is crucial. The entrepreneurial spirit showcases the intense drive needed to succeed, often involving long hours and relentless effort. This relentless drive, known as “hunger,” sets high achievers apart. As an employer, recognizing and harnessing this hunger in potential hires can propel your business forward.
In our interactions with clients and candidates, we’ve seen plenty to support the idea of drive and hunger as the key to success. As more companies turn towards skills-based hiring, it’s important to consider more than just qualitative skills.
The Power of Being Driven
People driven to do more tend to do it. They don’t just do what’s expected and then check out. They’re the ones who are always thinking about new ideas, pursuing knowledge, and thinking ahead (and thinking about getting ahead), and they rarely work an 8-hour day. There’s a sense of eagerness and enthusiasm to keep growing, and an inner drive to keep doing more.
Those people are a force to be reckoned with, and they’re the kind of force you want on your teams. Many times, they’ll outperform their less-driven peers. After all, it’s hard to beat someone who is constantly dedicated to improvement and growth!
Harnessing Hunger for Success
The key to harnessing this drive is channeling it productively. Individuals need an outlet for their ambition, and companies must align this energy with business goals to prevent boredom or dissatisfaction. If managed and trained effectively, these driven individuals could become your next leaders.
Should you hire them? Absolutely. But don’t leave them unguided. Driven, talented people need clear targets and training. Measurable goals and structured plans are crucial to directing their energy while allowing room for growth. Finding the right mix of challenge and support is key to maximizing their potential while maintaining team harmony.
Finding Your Next PSD Hire
At NW Recruiting Partners, we seek candidates who exhibit passion, resilience, and a strong track record of achievement. We explore their past challenges and how they’ve overcome them, and evaluate their readiness to learn and grow within your company. We collaborate with clients to outline career paths and development opportunities, helping you attract and retain top talent and make your organization a place where they can truly thrive.