There is the issue of the reliability of IQ but also of the reliability of job performance. Logically, the calculated correlation understates the real one between intelligence and job performance. Another point is that high intelligence seems to have very large externalities (the income externalities are much higher than the benefits captured the intelligent individual himself according to Garret Jones). It seems reasonable to assume that hiring smarter people, especially in management positions, has large benefits for an organization beyond the individual measurable contribution of the concerned employees. The corollary is that affirmative action, especially for important managerial positions, has a very significant cost.
There is the issue of the reliability of IQ but also of the reliability of job performance. Logically, the calculated correlation understates the real one between intelligence and job performance. Another point is that high intelligence seems to have very large externalities (the income externalities are much higher than the benefits captured the intelligent individual himself according to Garret Jones). It seems reasonable to assume that hiring smarter people, especially in management positions, has large benefits for an organization beyond the individual measurable contribution of the concerned employees. The corollary is that affirmative action, especially for important managerial positions, has a very significant cost.