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Art  D'Elia

Doug, A very thought provoking piece - particularly in light of the financial consequences of failed hires at any level in an organization. Regarding your suggested solutions "...to correct the problem..." I would underscore the concept of including hiring/referencing as an integral part of an enterprise's risk management process. Indeed human capital management, overall, is a critical organizational activity that deserves vigilant risk management attention. An organization's human resource professionals and its enterprise risk and/or operating risk managers should be working in close partnership to mitigate/manage human capital risk - starting with its hiring activity. If an organization's risk management team is currently overlooking this dynamic, I would strongly suggest its human resources professionals take the initiative to forge such a partnership to address this critical influence on an enterprise's success. Of course, establishing a set of metrics to measure/weigh related risks and track progress in managing this risk are necessary and ongoing elements of effective risk management.

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