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Pastimes : Austrian Economics, a lens on everyday reality

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To: Don Lloyd who wrote (211)	5/4/2003 2:43:42 PM
From: Wildstar	Read Replies (2) of 445

Don, I believe that there exists literature which claims that companies typically interview about 9 people for each job they fill. How would companies justify this degree of effort? (ignore any question of token interviews for the purpose of appearing diversity-sensitive) The only way the companies could justify that degree of effort is that they truly believe that no two candidates are "equal" in any sense. They might have the same duties, but their overall value to the company includes many subjective factors such as how well the candidate works with others, how effective a communicator he his, what kind of first impression he makes to others, how pleasant he is to be around, whether he has that certain je ne sais quoi, etc. So the diamond ring maker bids up the salary for the secretary to outcompete other bidders for the services of the same secretary because even though she would have the same duties as the secretary for the copper ring maker, they believe that she offers the highest subjective value to them. They can afford to do this because they have higher revenues and higher margins. Wildstar

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