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Research - Hiring Friends And Family Might Be Good For Business

By Sheheryar Banuri, Associate Professor, School of Economics, University of East Anglia writing for The Conversation

We've all heard the saying, don't mix business and pleasure. The idea is to keep your business practices strictly professional, this is hard to do if you work with friends and family members whom you have a personal relationship with.

Mark Zuckerberg, recently said in a podcast that he preferred to hire people whose “values aligned in the things that you care about”. This, he said, was akin to “choosing a friend or a life partner”. He went on to state that many young people were too “objective-focused” and “not focused enough on connections and … people”

The argument against this is that it can lead to bias hiring and creating somewhat of an echo system where there is a lack of diversity in ways of thinking which can result in no one willing to challenge bad ideas or behaviours.

From the article,

It was previously thought that hiring based on network or familial ties was mainly altruistic, our research suggests otherwise. It may still bring up managerial challenges, such as having to tell these employees what to do, or calling them out when they don’t meet expectations. But employers trust employees more when they share their values, and the employees may compensate for their lower ability by working harder, benefiting the organisation as a result.

Read the full article at The Conversation