Hiring managers have better odds of winning in a casino than of hiring a top performer.
Hiring managers usually stack the deck against themselves by launching the recruiting process with a long shot recruiting strategy. Then they double down on their bad bet by selecting resumes using criteria with little predictive value (like looking for a specific degree).
Meanwhile HR usually stands idly by, like a casino pit boss, there just to ensure no laws are broken.
In most organizations, the hiring process violates every rule of good decision-making, leaving the outcome entirely up to chance. And that’s why a typical recruiting process and a weekend at a casino often end the same way; left feeling spent and uncertain, wondering if you could have done better.
You don’t have to settle for the luck of the draw when you are hiring. A good decision support process would organize relevant information for the decision-maker. It would provide structure, gather information, identify alternatives, challenge assumptions, and consider the broader landscape in which the decision is being made.
A market research approach to recruiting can help you find not just someone “good enough,” but a slate of candidates from which you can’t make a bad hire. The three keys to hiring with certainty are: market research, competition and choice.
- Organize recruiting as market research. Gather and organize information, identify alternatives, challenge assumptions, and evaluate the job market landscape.
- Have at least six well-qualified candidates competing in the initial interviews. Managers tend to adjust their hiring standards up or down depending on the size of the candidate pool. Only vigorous competition consistently ensures high standards.
- Research shows that you are far more likely to make a great hiring decision when you have a choice of at least two well-qualified candidates at the conclusion of the search process.
When it comes to hiring, why leave things to chance when a better option is available? Click the green button below to download both of our Consistent Hiring guides: Supporting the Hiring Decision and Recruiting Top Performers.