Selecting Top Talent - Luck or Logic?
Strategies for Organizational Change
The story repeats itself over and over again, in every business: "Our new hire had all the right experience, good references, and interviewed like a champ! But here it is six weeks later, and he's not working out. We can't ignore the fact that he's wrong for the job, and we made a hiring mistake. Now, we have to start all over again!"
According to research by Michigan State University, the typical interviewing process used by most companies is at best only 12% effective in predicting successful hires. The remaining 88% keeps your recruiting manager extremely busy managing the proverbial revolving door of resumes, applications, hires, and fires. In turn, your business profits suffer from lapses in staff coverage, equating to lost opportunities, erosion of customer satisfaction, continual training expenses, and burnout for the remaining employees.
So, now that talent churn has been proven as a serious negative impact on your company's bottom line, what are the options to remedy ineffective hiring practices? Choose one:
1. Interview more people, faster!
2. Throw all your resources at recruitment!
3. Find and implement a more effective process!
If you chose option "3" find and implement a more effective process, then you are on the right track. You've realized the organization must integrate new hiring methods in order to compete in the world's evolving marketplace. Today, with intangible assets (intellectual talent) accounting for up to 80% of the total market value of U.S. corporations, something has to change. A new emphasis on identifying and retaining top talent is far overdue.
Our assessment methodology can be added to your current hiring process to help prevent poor hires, and the related drain on your business profits. Investments made in selecting the right talent for evolving jobs continue to be the most valuable investments in the future success of any business. You can increase your "luck" in finding the right person for the job by adding a new and measurable "logic" to hiring talent!
