We Value Potential and Diversity: What Papers Don’t Tell You
Hyundai Card, Hyundai Capital, and Hyundai Commercial (collectively “Hyundai Card”) have run a creative hiring program of “Special Track” since 2014 to select new hires with outstanding skills in their own fields.
Applicants who may not have a fancy resume describing strong education background, language skills, accreditations and all can get a career opportunity if you have unique strengths and skill set. This shift of paradigm aims to fully capitalize on the leveraging effect of “diversity in organization” which is not possible under the conventional resume-based hiring process. Professor Scott E. Page of University of Michigan came up with an innovative theory of “Diversity Trumps Ability” based on his research finding that a group with diverse people outperforms a group simply consisting of smart people.
Financial Company Where Hotelier, Writer and Art Curator Team up Together?
Special Track is a hiring program to select people who may not score high under the typical hiring standards, but have unique strengths and skill set that not everyone has. For instance, a physics major who has published a paper on a prestigious journal can just write about the experience and achievement in the personal statement to get hired, even though his or her resume does not say much about his or her financial background. Anyone who won an international advertising award but could not pass even the first round because of “not good-looking” resume, now you can take a shot and get a chance by taking Special Track which does not look at conventional screening factors.
It does not mean, however, we only hire geeks, weirdos or those who simply have super-strong ingenuity or creativity. We decide based your track record of achievements you have been serious to build. This is not the first-ever such attempt by Hyundai Card. Many experienced people with diverse backgrounds have already joined us brining in their diverse experiences from outside the financial business, such as consulting service, hotel business, writing, art curation, online UX to name a few. It was a bold attempt unheard of in the financial business which is not really known for such innovation.
Best Employee Benefit is Flexible HR Program
The paradigm shift in HR stemmed from strong belief of CEO Ted Chung of Hyundai Card that a great company is built not by running a good advertisement campaign, but by creating powerful corporate culture rooted in innovative HR program”.
Job Selling and Job Fair for new hires are the prime example. It is a job assignment program for new hires driven by market principles. New hires pick where they want to work for, and the company makes most of their skill sets in a highly effective way. As all puzzle pieces of individuals’ career goals and competencies are put together, we can run an efficient job assignment process.
During the job orientation for new hires, departments have 2 weeks to promote their roles and visions in Job Selling, after which new hires visit Job Fair where they can have an opportunity to have conversation in person with departments of their choice to ask required qualifications and share their strengths. Every year over 80% of new hires are assigned to one of their top 3 departments of choice thanks to Job Fair, which indicates the win-win result the program can bring for all.
Hyundai Card believes an organization cannot grow in a sustained manner if it keeps duplicating itself by people with no diversity, and thus has pursued to challenge our hiring paradigm and embrace new ideas. The fundamental value of diversity in organization will continue to evolve at Hyundai Card.