Lecture Notes: Hiring Decisions - Silver Spoons vs Scrappers

Introduction

• A company launches a search for an open position.
• Two qualified candidates:
  • Person A (Silver Spoon): Ivy League, 4.0 GPA, flawless resume.
  • Person B (Scrapper): State school, job hopping, odd jobs like cashier and singing waitress.
• Both are qualified.

Categories of Candidates

• Silver Spoon:
  • Had advantages and was destined for success.
  • Examples include attending elite universities.
• Scrapper:
  • Fought against tremendous odds to reach the same point.
  • Backgrounds may include inconsistent job history and overcoming obstacles.

Evaluating Resumes

• Odd jobs may indicate inconsistency or a struggle against obstacles.
• Scrappers deserve an interview for their commitment.

Personal Story

• Speaker identifies as a Scrapper:
  • Father diagnosed with paranoid schizophrenia.
  • Raised by a single mother in a tough Brooklyn neighborhood.
  • Lived without many conveniences, e.g., telephone.

Observations on Business Success

• Many successful individuals experienced early hardships.
• Post Traumatic Growth:
  • Trauma can lead to growth and transformation.
  • Study showed 1/3 of children in severe conditions led successful lives.

Case Studies

• Steve Jobs:
  • Adopted, college dropout, dyslexic.
  • Represents successful individuals with non-traditional paths.
• Entrepreneurs with Dyslexia:
  • 35% of successful entrepreneurs in the study had dyslexia.
  • View learning disabilities as desirable difficulties.

Notable Examples

• Chinese Cultural Revolution:
  • Colleague left alone in Beijing at 13, worked in a factory.
  • Pursued education against odds, his daughters now have Ivy League degrees.

Characteristics of Scrappers

• Control over oneself.
• Ask what they can do differently for better outcomes.
• Possess a sense of purpose.
• Rely on humor and laughter.

Importance of Relationships

• Overcoming adversity often involves support from others.
• Speaker benefitted from mentorship and advice from various individuals.

Diversity in Hiring

• Companies committed to diversity outperform their peers.
• Top 50 companies for diversity outperformed the S&P 500 by 25%.

Conclusion

• Bet on the underestimated contender with passion and purpose.
• Hire the Scrapper.

Key Takeaways

• Scrappers bring unique strengths from overcoming adversity.
• Diversity and inclusivity lead to better company performance.
• Consider all aspects of a candidate's background, not just traditional markers of success.