In July 2006, banking group HBOS appointed Andy Hornby as its chief executive, even though he had no banking qualifications. After the group made losses exceeding £10 billion in 2008, Hornby was forced out of his job. Who selected him? And how are selection decisions made?
Selecting the right employees is an important function for the owner of a small business or for the human resources department of a larger business. The right candidate should be self-motivated, perform well and add value to the organisation. By contrast, the wrong candidate might lack motivation, be unable or unwilling to perform well and may leave, costing the business dearly in terms of wasted recruitment, selection and training costs and reduced productivity.
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