HRHeadStart #29: Hiring Effectiveness; The "Suitcase" Problem; Irrational Passion
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ICYMI: Mentorship Program I shared details about the HRHeadStart Mentorship Program last week. I will be taking in applications until the end of this week and get back individually to everyone who shows interest. The Talent Agenda Hiring is a crucial process as it injects talent into the organization and we need to ensure the process works well. Estimates of the cost of a bad hire range between 30-100% of the total cost of the employee, with some sources citing even higher costs for critical talent and leadership roles. Hiring effectiveness could be measured by a low False Positive and False Negative rate. A False Positive is when we hire someone who doesn't work out (i.e. we wrongly believed they were awesome). A False Negative is when we reject someone who would have been awesome, but we failed to spot the talent. To improve hiring effectiveness, there are multiple interventions to consider and I would like to focus on two - 1) using a systematic process to reduce bias and "noise" in the candidate evaluation process and 2) using high-validity tools for candidate evaluation
HRHeadStart #29: Hiring Effectiveness; The "Suitcase" Problem; Irrational Passion
HRHeadStart #29: Hiring Effectiveness; The…
HRHeadStart #29: Hiring Effectiveness; The "Suitcase" Problem; Irrational Passion
ICYMI: Mentorship Program I shared details about the HRHeadStart Mentorship Program last week. I will be taking in applications until the end of this week and get back individually to everyone who shows interest. The Talent Agenda Hiring is a crucial process as it injects talent into the organization and we need to ensure the process works well. Estimates of the cost of a bad hire range between 30-100% of the total cost of the employee, with some sources citing even higher costs for critical talent and leadership roles. Hiring effectiveness could be measured by a low False Positive and False Negative rate. A False Positive is when we hire someone who doesn't work out (i.e. we wrongly believed they were awesome). A False Negative is when we reject someone who would have been awesome, but we failed to spot the talent. To improve hiring effectiveness, there are multiple interventions to consider and I would like to focus on two - 1) using a systematic process to reduce bias and "noise" in the candidate evaluation process and 2) using high-validity tools for candidate evaluation