The Role : Actuaries Analyst
The main thrust of the Fortheantofanail.org campaign is to highlight the impacts of hiring practice from a business perspective. As such, it is easy to overlook the human side of hiring mistakes, so this case gives a voice to one of the thousands of individuals who was sat in a role that he should never have been recruited for.
The Hiring Circumstance – The company, a nationally recognised finance sector business, made a point of hiring the brightest and the best graduates every year, investing considerable sums of money in their graduate recruitment programme,
The Strategy – University Milkround, heavy national advertising campaigns, recruitment agency suppliers are all utilised. Marketing and HR specialists internally had combined with a major creative agency to develop a highly visible and impactive campaign.
This strategy succeeded in attracting our case provider in question, drawn in as he was by the company's stated desire to hire dynamic, very well educated, enthusiastic individuals who were hungry for career success.
Having graduated in mathematics with top grades and, identifying with the personal characteristics required, he joined the company in question along with 7 other like-minded people, forming a new team supporting the actuaries department in analytical and statisical work (at this stage it hadn't occurred to them why an entire new team was being hired when the department had been in existence for many years?)
The Consequence – Considering for a moment what our case provider does for a living, he understands perfectly well the sentiment of the For want of a nail poem; it was his job to analyse cause and effect, consequences and probabilities. Point being, when he describes this company's hiring practice as wasting millions across the board, you can be sure that this is based upon some fairly robust data and calculations.
Back to the career impact issue. The reality was that the LAST thing this firm needed was people who were in any way dynamic or career minded, because the job required no dynamism (quite the opposite in fact) and offered no career prospects either. Simply put, they needed to hire people who were happy to spend each day tapping data into a system for the next ten years or more and draw a regular wage.
Consider that our individual was extremely serious about establishing a career, having first worked hard over the 8 years prior to joining the company in order to achieve his high academic standards.
Not wanting to spoil his CV with anything less than a two year stay in his first post-graduation role, he suffered the daily grind of the actuaries department as one by one his contemporaries left. Indeed, by the time he moved on himself, he'd been the only one of the original 8 for some ten months, with even many of those from the following year's graduate intake beating him out of the doors.
He was angry at having completely wasted two years of his working life. He was angry too about the thoughtless way in which the hiring strategy makers had duped him into joining - and wasted a small fortune on behalf of the company on hiring and re-hiring, training and re-training whilst they were at it.
Some time after he left the company made 3,000 redundancies in order to cut operational costs.
Cost - Two years of a career
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