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If you want to listen to a very illuminating episode on law firms hiring based on a handful of firms, how bad this is, I highly recommend this episode of Malcol
by semihsalihoglu 3y ago
If you want to listen to a very illuminating episode on law firms hiring based on a handful of firms, how bad this is, I highly recommend this episode of Malcolm Gladwell's podcast:
https://www.pushkin.fm/podcasts/revisionist-history/the-tortoise-and-the-hare https://www.pushkin.fm/podcasts/revisionist-history/the-tort...
You should start listening around 31m:30s in the podcast, where he interviews someone who has analyzed the correlations between how successful a lawyer will be in different firms and the actual features/statistics of candidates. And one of the biggest conclusions this person says is that one feature that doesn't matter much (close to 0) in predicting how successful a lawyer will be is the school they went to (this is around 34m:35s in the podcast). And that for obvious reasons, this is actually what law firms pay most attention to, which is actually a big mistake. This is in fact a very big market inefficiency and an opportunity for law firms to correct in their recruiting.
I would guess a similar pattern exists in many fields, e.g., software engineering.
Another excellent and illuminating thing to read about recruiting mistakes is Daniel Kahneman's work (he has a chapter on this in his "Thinking Fast and Slow" book (https://en.wikipedia.org/wiki/Thinking,_Fast_and_Slow https://en.wikipedia.org/wiki/Thinking,_Fast_and_Slow). This article describes a good summary of Kahneman's advice when recruiting: https://www.inc.com/jessica-stillman/hiring-job-interviews-daniel-kahneman.html https://www.inc.com/jessica-stillman/hiring-job-interviews-d....