And when a strong candidate turns down a CG offer, the result is often not āa slightly-less-good grantmaker,ā itās just one fewer grantmaker. We routinely close rounds with fewer hires than weād planned for.
Why? Shouldnāt you make an offer to the runner-up?
In some cases we do, but we have a high bar for overall āfit for the role,ā we donāt hire people below that bar, and so we often end a hiring round with too-few applicants ending up above our bar (as far we can assess at that time with limited investment by both us and the candidate). We maintain this high bar for several reasons, one of which is that managersā time is also scarce and high opportunity cost.
āmanagersā time is also scarce and high opportunity costā doesnāt seem like enough in my opinion to warrant āmillions will just sit in an account for another yearā. Iām curious to know what the other āseveral reasonsā are. I fear that some people are vain about who they associate with and insist on being part of a ātalent-denseā organization, such that they will set a bar unproductively high
Why? Shouldnāt you make an offer to the runner-up?
In some cases we do, but we have a high bar for overall āfit for the role,ā we donāt hire people below that bar, and so we often end a hiring round with too-few applicants ending up above our bar (as far we can assess at that time with limited investment by both us and the candidate). We maintain this high bar for several reasons, one of which is that managersā time is also scarce and high opportunity cost.
āmanagersā time is also scarce and high opportunity costā doesnāt seem like enough in my opinion to warrant āmillions will just sit in an account for another yearā. Iām curious to know what the other āseveral reasonsā are. I fear that some people are vain about who they associate with and insist on being part of a ātalent-denseā organization, such that they will set a bar unproductively high
Could you specify what you mean by āfit for the roleā?
Often subjective terms like these are just used to justify arbitrary discrimination (not necessarily of the illegal kind).