Who benefits most from a reality check?
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To avoid just trusting into the application documents and the impression from the job interviews, a lot of companies are using practical exercises that are close to the real assignment of the position. Easier for development tasks than for project or people manager roles. In the public sector or government area you will find assessment centers a lot, some of the other companies rely on specific use cases or a new project initiation assignment as example.
Assuming you have 3 - 5 candidates in the 2nd or final round, you will hopefully see 3 - 5 different proposals for the selected assignment, what can be a really interesting collection of approaches, proposals, ideas, frameworks, processes and solutions.
Who benefits most from this reality check? The candidate, who should normally know, what is required for the position she/he is applying for, or the recruiting company that is getting a lot of additional input for free? For the candidates a presentation about the assignment is a different way and additional opportunity to show expertise and experience. The company will get an outside view and should do the best with it, depending how open they are for new or different influences. So BOTH can and should benefit from this reality check.
Good luck is when opportunity meets preparation, while bad luck is when lack of preparation meets reality. Eliyahu Goldratt, Israeli - Businessman March 31, 1947 - June 11, 2011 https://www.tocinstitute.org/eliyahu-goldratt.html