4 ms·
If you have a situation, which I believe we do now, where the number of engineers who fit the "best and brightest" category as defined by the companies looking
by vonmoltke 13y ago
If you have a situation, which I believe we do now, where the number of engineers who fit the "best and brightest" category as defined by the companies looking is less than the number required by these companies, somebody is going to have to either "settle" or work with a hole. It will also make some of these engineers overpaid. I don't see how this benefits your company. Yes, in this system some companies will be "winners" in the sense that they get an awesome team for a good price, but most will lose. I would not be surprised if the high rate of failure in the startup community is related to this.
For the record, I do not see hiring the "best available" as settling unless they do not meet some minimum requirements of the business. The purpose of hiring people is to help execute a product, service, or whatever else your business is trying to make money off of. Anyone who can increase your chances of succeeding or increase your level of success is a good hire. Yes, that includes looking at intangibles like team and culture fit, work ethic, etc. But this person does not need to be the "best" to provide this boost to your business. In fact, it is effectively impossible to hire the best, because there will always be someone better.
- walshemj 13y ago"over paid" what is this concept that you speak off - there is no big guy with a big white beard sitting on a cloud who's going to reach down and say "you yes you with a third in media studies from Luton university should be paid X and those cheeky blue collar train drivers or miners who have scarce skills should be paid less than you". The PHB might think they are over paid but like it or not this is Laissez-faire capitalism pay is determined by scarcity and bargaining power. ps for those outside the UK Luton is the unfortunate University that props up the bottom of the university league table - though to be fair they do rank well for Nursing degrees.
- saraid216 13y agoPaid more than one standard deviation higher than average for that level of competency, scarcity, and bargaining power.
- humanrebar 13y agoWhat are the levels of competency, scarcity, and bargaining power? How do you place a particular candidate in her appropriate levels?
- michaelt 13y agoIf you could have hired someone equally competent for less money, why didn't you? If you couldn't find such a person, the person you hired is hardly overpaid.
- walshemj 13y agoQuite thats the point I was making there is no God given "correct wage" just the market unless saraid216 thinks we should move to a fully communist model where the state says what job you get and how much you get paid?
- saraid216 13y agoNo, no. The fully communist model is where you have listings of every single worker in existence and choose your hires based on that so that you have an accurate estimate of scarcity.