Use the “37% Rule” the Next Time You Need to Hire Someone
And thank the math wizards who determined the optimal stopping point in a decision-making process.
The 37% Rule
Looking for a new hire for the office or shop? Go full-on nerd and try the “37% Rule,” which basically says that when you need to screen a range of options in a limited amount of time, such as candidates for a job, it’s a weird mathematical truth that the best time to make a decision is when you’ve looked at 37% of those options. (In other words, once you’ve interviewed 37% of applicants, commit to the next candidate who stands out over those you’ve already met.) According to an article in Lecture Notes In Economics and Mathematical Systems, this approach can be applied to just about any such sequential scenario — from choosing a romantic partner to selecting a store.
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