Statistics, a subject that studies the possibilities and probabilities of decision making. The decision making involves and includes possible errors – listed out as Type 1 and Type 2.
A Type 1 Error occurs when the organization recruits a person whose fitment has been called into question. This is an expensive situation, which may call for immediate remedial action. The cost of letting go of the wrong recruit, honorably; and the process of re-recruiting a better fit, entails cost, effort and time, and also leads to drop in employee morale.
A Type 2 Error explains the lost opportunity on missing out on a suitable candidate. This happens due to various reasons, including lack of information, an overcautious bearing (effort to reduce the Type 1 error.) This is expensive for two reasons: the loss of potential candidate in a resource constrained world; and worse, to lose him/her to a competitor.
Today’s demand for skilled people far outweighs the availability of resources. Organizations go to great lengths to source candidates to fill available roles. The recruitment decision making in this complex environment, is not easy, and thus requires specialized skills. Thus recruitment has become person-dependent, who have over a period of time acquired the uncanny knack of identifying and selecting the right candidate.
Spire’s Context Intelligence platform, ensures mapping the role requirements against the availability of skillset in the individual, using a systemic approach, eliminating the need for a person-dependent recruitment system. The system helps to avoid not only recruiting the wrong candidate, but helps with not missing out on the suitable candidate. Platform also allows for mapping of the closest person to role fit, enabling organizations to revel in their choice of appropriate candidates, and build the successful team, they sought; avoiding the pitfalls of expensive countermeasures.