Ready, Aim, Hire

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If we’re going to spend money on building a new plant or buying an expensive piece of new equipment, we gather as much data as we can, analyze it carefully, and then make the decision that will provide the best value. So when it comes time to hiring new employees, why do managers grab a handful of résumés, talk to a bunch of candidates and say to one of them: "Congratulations!" With a bad hiring decision typically costing 1.5 times the employee’s annual salary, shouldn’t we strive to make this process a valid and rigorous business exercise like all others?

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