Utility of predictors and hiring decisions

Reference no: EM1354191

Executives at an electronics company want to ensure the validity of their "selection batteries" (predictors and or tests used to make hiring decisions). They also want to ensure that their selection batteries are useful and cost-efficient.

The utility of predictors and or tests used to make hiring decisions is determined by a number of factors, including:

a) Decision accuracy
b) The base rate of successful employees
c) Selection ratio
d) Cost

I need help in determining the impact of high unemployment on each factor.

What are the effects of having a large applicant pool for a small number of available jobs on each factor?

Which is the most important ? validity or utility? Do organizations value validity and utility equally?

Reference no: EM1354191

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