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Choosing a great candidate for an open position is similar to selecting a stock. There was an experiment where experienced traders and monkeys were tasked with choosing stocks - spoiler alert: both groups made poor choices. A monkey performed as "well" as an experienced trader when it came to selecting the most profitable stocks.
The desires of an employer and an employee are quite similar:
Between the employer and the employee, there exists a relationship of co-dependence. Neither party would participate if they had the choice. Meeting in the middle when negotiating terms and conditions is crucial for a healthy, long-term, mutually beneficial collaboration.
There is no straightforward way other than to begin the collaboration and see if they are a great fit.
Some candidates can ace an interview with ease, yet find ways to shirk work. Others may be timid during an interview, not the best communicators, but excel as technical workers.
If you are in a Manager or HR position, depending on the level of interaction with your colleagues and the actual business process, you may be inclined to make a "bad" hire. For instance, as a Manager/HR, you might overestimate or underestimate the requirements for the position you are trying to fill.
The only metric we often use to gauge a candidate's suitability is years of experience in the field. However, this method is flawed. Years of experience do not necessarily equate to skills. Some individuals may continue to perform tasks as they were initially taught, without innovation. Conversely, others may join a new process and discover more efficient and effective ways to work, despite having little to no experience.
Unfortunately, there is no surefire formula for finding great talent. It's akin to discovering your preferences. You must try until you find a great fit and then ensure you retain it.
Beyond the hiring process, creating an environment that attracts and nurtures talent is essential. Companies that foster a culture of continuous learning and innovation tend to attract individuals who are not just looking for a job, but a place to grow and make a significant impact.
Encouraging creativity, recognizing achievements, and providing opportunities for professional development can make a substantial difference in not only attracting great talent but also retaining it.
In conclusion, while the search for the ideal candidate may seem daunting, focusing on building a supportive and dynamic culture can be the key to unlocking the potential of future hires.
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