The high cost of selecting the wrong talent

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Recruiters have always focused on hiring excellent talent, but defining the “right” hire for a specific business is becoming more strategic as available jobs continue to outweigh job seekers in our current labour market. It is now more difficult to determine which candidates from highly competitive talent pools are going to positively impact a business, with the risk of one wrong decision leading to problems that quickly cascade through the organisation and leave a long-term impact.

The average cost per hire is now $4,129. To avoid hiring decisions that cause turnover that leads to unplanned vacancies, employers must be able to accurately measure each candidate against the key factors that are prioritised within the organisation.

Make Every Hiring Decision Strategic with Innovative Assessments

Assessments offer a new approach to evaluating candidates against expectations set by hiring managers and leaders within an organisation. By taking these additional insights into consideration, employers can make quicker, and more confident hiring decisions for their business.

Not sure which type of assessment would impact your hiring goals? Take a minute to evaluate if your current hiring process is able to efficiently answer the following questions

Is there confidence that this candidate will excel in our work environment?

An individual that has all of the experience desired by a hiring manager is certainly intriguing, however it is important to continue looking holistically at how each candidate would behave in the workplace, and become aware of any risk for disciplinary challenges. Behavioural assessments can help an organisation learn about their candidates’ communication styles, ability to interact with others or any triggers of stress that can determine how they will add value to the team.

Does this person’s personality mesh with our company culture?

Culture has become a large driver of attracting top candidates, and maintaining a productive workforce that employees enjoy working in. Assessments that evaluate a candidate’s personality help to clarify who would contribute to employee culture, and who may not be a fit, especially when hiring for management-level positions. Ninety-five percent of organisations say a poor hiring decision impacts the morale of their team, and 60 percent have had a bad hire not get along with co-workers.

Is emotional intelligence required to succeed?

Emotional intelligence is a focus at many top organisations across all industries to ensure employees understand the people they are working with, and enhance their team-building skills. Get ahead of this by ensuring candidates are measured from the start with emotional intelligence assessments that evaluate how they would perform in a complex business environment for roles that may require potentially difficult situations, high-impact decision making and relationships with many personalities.

Will this candidate succeed with the training we offer?

From the time a new hire is welcomed into the business, many resources are required to prepare them for success, and a general intelligence assessment can predict the amount of time it will take an individual to get acclimated. This not only avoids bringing on a new employee that may end up leaving due to frustration or challenges, but can also maintain a level of safety and brand reputation for the business. Fifty-one percent of businesses report product errors caused by hiring the wrong person, and 24 percent experience a loss of customers.

How to Integrate Assessments into Your Overall Hiring Strategy

Organisations that recognise the value of strategically hiring the right people into their businesses are turning to a recruitment solution that prioritizes the recruitment function, and can offer enhanced capabilities to get candidate selection right every time. A dedicated talent platform does just that by offering a powerful applicant tracking system (ATS) foundation that is supported by robust integrations into all of the specialised tools needed to secure the best-fit talent for an organisation. Uniting a powerful assessments provider alongside all other talent acquisition tools creates accessibility to work within one workflow and optimise the candidate selection process. With a more holistic view into hiring processes, businesses maximise their ROI through reliable data governance, robust reporting capabilities and a competitive candidate experience to secure the right talent.