A hiring benchmark is a standard or point of reference against which your candidates can be compared or assessed. Benchmarking creates a profile of the ideal candidate for your open position. Then, you can assess candidates against that profile. An ideal candidate profile functions like a blueprint, helping hiring managers to map out the desired personality traits and attributes for a specific open position. Businesses compete for talent by filling their talent pipeline with quality candidates. If you want to be more focused in sourcing, screening, and assessing candidates, you will need to spend some time developing your ideal candidate profile. Hiring benchmarks will help you attract better quality candidates. It will also help you identify the top candidates more quickly and it will improve your quality of hire. Your hiring process will become more efficient and effective at matching people to positions. Hiring benchmarks also reduce your time to hire and decreases your recruitment costs in the process. Use your Hiring Benchmark to Hire the Right Employee.
We recently developed a Focus Survey to help you create a profile of the ideal candidate for your open position. It will take you about 5 minutes to complete. At the end of the survey, you can request 3 different reports: 1) Ideal Candidate Profile 2) Hiring Interview Questions and/or 3) Hiring Assessment Strategy.
When a candidate’s behavioral style, motivations, skills and abilities are matched to a specific position (Job Fit), they will have a higher level of engagement. Higher engagement increases job satisfaction, productivity, and profits. Higher engagement reduces turnover.
Employee turnover is a problem for many companies. In most industries, the top 20% of people produce about 80% of the output (The Pareto Principle). Every employer wants to hire these top 20% (top performers). And when we do hire them, we want to retain them. However, these talented people get lots of offers for new opportunities, which makes it harder for them to resist the temptation to change jobs. About 80% of turnover is due to bad hires, according to SHRM. Read more about how Turnover impacts your Bottom-Line.
Assess the personality traits, motivations and cognitive abilities of your most successful employees in the position. This will help you create a profile of what you are looking for in your candidates. You might also want to interview those top performers to identify what qualities they have in common. Ask them specific questions about what they do on a daily basis and how they manage the problems that come up. Identify what their favorite aspects of the work are. Ask what motivates them. This information will help you design interview questions that relate specifically to the role.
Completing a Job Description Survey for your open position will create a customized Hiring Benchmark Report. This report offers a detailed profile of the work-related abilities, interests, motivations and personality traits of top performers in the position. The Hiring Benchmark Report provides data about the requirements of the job and it can also be used to supplement, organize and analyze the information provided in résumés, background checks and the interview. You will receive your Hiring Benchmark Report via email. Put your hiring benchmarks to work by implementing a structured evaluation process for your recruiting and hiring efforts.
If you want to start leveraging the power of hiring benchmarks for your company we can help. Contact us to learn more about how you can utilize the benchmarking process. Use your Hiring Benchmark to Hire the Right Employee.