Placing the right people, in the right jobs will bring productivity, harmony, growth and profitability to virtually any organisation. Hiring the wrong person will impact your business adversely. Very few managers pause to calculate the true cost of replacing employees who fail, or leave through dissatisfaction with their job. Studies have shown that it can cost a business up to two and a half times annual salary, to replace an employee!
It may surprise you to know:
- Two out of three new hires will disappoint in the first year
- Two out of three employees would rather work somewhere else
- Ninety-five of 100 applicants will "exaggerate" to get a job
- Most people are hired during the first five minutes of an interview
- Many businesses will be sued over an employment issue
- Turnover costs thousands of pounds for every departing employee
- Eighty percent of employee turnover is avoidable
Assessments are acceptable, even expected
Surveys have found that 92% of job applicants accept assessment as part of the job qualification process. Only 3% resent it, while 5% were neutral.
Assessments offer a solution
Historically, employers depend upon résumés, references and interviews as sources of information for making hiring decisions. In practice, these sources have proved inadequate for consistently selecting good employees.
The use of assessments has become essential to employers who want to put the right people into jobs; provide employees with effective training; help their managers to become more effective; and promote people into positions where they will succeed.
The use of assessments has resulted in extraordinary increases in productivity while reducing employee relations problems, employee turnover, stress, tension, conflict and overall human resources expenses.
Interviews have become the most influential factor in hiring and promotion decisions. However, experience shows only a coincidental correlation between the ability to deliver well in an interview and to deliver well on the job. Studies peg this correlation at 14% -- one good employee in every seven hires. After checking references thoroughly the success rate becomes 26%, but that's only one good hire in every four.
Assessments do help significantly
Assessing behavioural traits can improve the hiring success rate to 38%. When both thinking abilities and behavioural traits are assessed, the right people are hired 54% of the time. When an assessment of occupational interests is added, successful results improve to 66%.
The most impressive results are achieved, however, when an integrated assessment is used - one that measures behavioural traits, thinking, occupational interests, plus "Job Match."
These integrated assessments employ cutting-edge technology and empirical data to assess the qualities of "The Total Person." In doing so, the individual qualities of candidates are compared to the qualities of your employees who are performing their duties in a superior manner. These assessments successfully identify potentially excellent employees better than 75% of the time.
Job Match outranks all other factors
A well-documented study, published in Harvard Business Review, concludes that "Job Match" is by far the most reliable predictor of effectiveness on the job. The study considered many factors including the age, sex, race, education and experience of approximately 300,000 subjects. It evaluated their job performance and found no significant statistical differences, except in the area of "Job Match." The conclusion: “It’s not experience that counts or college degrees or other accepted factors; success hinges on a fit with the job."
The only reliable method for evaluating "Job Match" is with a properly designed assessment instrument, capable of measuring the essential job-related characteristics particular to each specific job. Assessment Partners has assessments designed for this purpose.
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