Today organizations spend millions of dollars on assessment tools to help attract, select, promote and develop their employees. Talent Selection Assessments will add value to any positions for which they are used. The primary reason we assess candidates is to increase the probability of hiring the best talent – those people who have the skills to perform successfully and who are more likely to be retained. For example, mistakes made in the hiring decision for customer service representatives can lead to low performance, high turnover, unhappy customers, lost business and higher labor costs. Call centers often struggle with very high turnover. But their high turnover is more of a fit issue than a skills issue.
The use of talent selection assessments in the hiring process offers huge financial benefits, because the information gathered will lead to better hiring decisions. Based on the research in the book Good to Great, the companies whose performance moved from good to great were those that began by getting the right people on the bus and the right people in the right seats. There is a body of research showing that talent selection assessments often lead to: lower turnover rates, better quality of hires, shorter time to fill and less money spent per hire.
Some important metrics to track in your hiring process are: number of qualified candidates, cost per hire, time to fill and quality of hire.
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