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The author starts off with some data, but it's far from complete. $15k in lost productivity for a 50k hire? Sure, then there's the retraining costs, potential h
by ignostic 13y ago
The author starts off with some data, but it's far from complete. $15k in lost productivity for a 50k hire? Sure, then there's the retraining costs, potential hits to morale, and then the opportunity cost. Opportunity cost for a bad hire varies, but the profit you could enjoy from a motivated person can be huge depending on their role.
Now then, we get into solutions and suddenly things start getting fluffy. "... find an expert in the candidate’s specific field and get some advice on the best questions to ask." Fluff. This is opinion piggybacking on fact.
There's a huge body of research that could tell you how to hire better people. If you've read any of it, you'll know that unstructured interviews are not the way to go! You're essentially testing a person's ability to perform in an interview rather than their ability to do the job.
I'm continually shocked that businesses who rely on their employees for every penny of revenue have no idea how to hire the best employees. Everyone thinks they have some sort of sixth sense gut feeling that can guide them to the right people. Some of the research in this field is very good, and it could be better if business owners and managers paid it any mind.
- dsjoerg 13y agoDo you have any links handy to some of this research? I'd be interested to check it out.
- ignostic 13y agoI'm not joking when I say there's a body of research. You can find a lot of it in journals that deal with organizational behavior, strategic management, and strategic HR. I mentioned specifically the oft-used unstructured interview. Here are some links for that point: >Meta-analysis: " structured interviews produced mean validity coefficients twice as high as unstructured interviews" http://onlinelibrary.wiley.com/doi/10.1111/j.2044-8325.1988.tb00467.x/abstract http://onlinelibrary.wiley.com/doi/10.1111/j.2044-8325.1988.... >Meta-analysis: All interview validity estimated at .19, but structured interviews estimated at .39: http://onlinelibrary.wiley.com/doi/10.1111/j.2044-8325.1989.tb00491.x/abstract http://onlinelibrary.wiley.com/doi/10.1111/j.2044-8325.1989.... Outside of boring journals and texts that you might not have access to, we can always just Google Scholar for things like "employment selection instrument": http://scholar.google.com/scholar?q=employment+selection+instrument http://scholar.google.com/scholar?q=employment+selection+ins...
- joshyeager 13y agoIf you're looking for practical info about implementing better interviewing practices, check out this book: http://www.amazon.com/Hiring-Geeks-That-Fit-ebook/dp/B00AUYNM38 http://www.amazon.com/Hiring-Geeks-That-Fit-ebook/dp/B00AUYN... Highly recommended. Covers some subsets of structured interviewing as well as effective techniques for the rest of the hiring process.