The people you have in your hiring pool have a direct impact on who you hire. While some are of the mind that having a smaller hiring pool is easier to manage, having more people in your hiring pool is beneficial. It’s even more beneficial to have a diverse pool.
Research on diversity by the Harvard Business Review found that when there is only one woman in your candidate hiring pool, statistically there is no chance she will be the one chosen for the job.
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They also found that when there are two or more females or minorities, it significantly increases their odds of being selected:
“When there were two minorities or women in the pool of finalists, the status quo changed, resulting in a woman or minority becoming the favored candidate.”
More Candidates Increase Representation for Women and Minorities
There is a direct correlation between finalist candidate pools and a company’s hiring decision.
According to a study of 598 finalists for a university teaching position, the likelihood of a woman getting hired goes up as more women are included in the finalist pool. Here are the results:
- One woman and three men: 0% chance of getting hired
- Two women and two men: 50% chance of getting hired
- Three women and one man: 67% chance of getting hired
The authors of the study conclude that:
“It is difficult to find studies that show subtle preferences for women over men, and for minorities over whites. But the data does support one idea: When it is apparent that an individual is female or nonwhite, they are rated worse than when their sex or race is obscured.”
Benefits of More People in Your Hiring Pool
- Better representation for women and minorities
- Identification of future candidates
- Reduction in recruitment costs
- Reduced time to hire
- Ongoing candidate engagement
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