Building a great team to get amazing work done requires business leaders to know what they need and to map it to their hiring requirements. The dilemma that most recruiters and business leaders face is finding a fantasy perfect person who generally does not exist.
As per “the optimal stopping problem” by Martin Gardner, people who have a longer list of “Must haves” are less likely to get the right fit, as the basic concept of probability defines that more parameters means less people who fit the requirement. Let's take a simple example: A person is more likely to find a fit while looking for someone who is 6ft tall, earns USD 100,000 a year and lives in Central America rather than adding more parameters (to the above mentioned criterias) like brown hair, great physique etc. Mathematicians say the best candidate is at a 37%, which means you pick the person after rejecting 36% of the lot based on your criterias.
The same can be applicable to hiring. You need some kind of formula that balances the risk of stopping too soon against the risk of stopping too late. Let's face it, there is no fantasy person - all we can do is find the right fit while knowing that there are parameters that the person is good at and some parameters that need improvement.
We at CoFigure use the science of finding the right person in the ever complicated world of hiring. CoFigure suite of HR applications interact with each other to provide you with the right information at the right time to hire the right fit. Our Performance Management and Learning Management application along with Employee Recognition applications collect data to provide you insights into what hiring needs are persisting in various departments, which skills are being utilized most and by whom, what skills you should hire for to improve the performance of your organization and more.
We invite you and your organization to try out our Applicant Tracking System and provide feedback on how we can further use AI and ML built in ServiceNow, to drive better filtering and recruitment decisions. Stay tuned to hear more or reach out to us if you want to be part of a beta program!