ATLANTA, April 25, 2012 /PRNewswire/ -- SHL, the global leader in talent measurement solutions, today released its 6th annual Business Outcomes Study (BOS) Report which offers an in-depth look at how organizations use data about their workforce to inform their business decisions. A record number of businesses were included in the report, representing industries as varied as financial services, technology, hospitality, media and engineering, and hailing from job roles in customer service, sales, management and more. The primary finding: the majority of organizations showed significant positive business outcomes when using quantifiable talent data, or People Intelligence, to inform their business decisions.
As competition heats up in our recovering economy, increasing numbers of organizations worldwide want access to comprehensive People Intelligence data to gain the strategic advantage over competitors through increased sales, reduced operating costs, and improvements in overall productivity. Out of the 66 businesses surveyed, 88% reported favorable or very favorable business outcomes (with the remaining 12% lacking sufficient data to be conclusive). Specific achievements include:
- $995,000 increase in sales per salesperson for a major car retailer. The study also found these same employees are three times more likely to be ranked as top performers.
- 41% increase in productivity for call center collection agents
- Over $3 million in savings for an insurance company as a result of reduced turnover and lower employee absence rates
- Quadrupled sales revenue for a retail location with managers at the helm who were assessed as "high potential" employees
- 41% increase in efficiency, 31% more revenue, and 22% lower employee turnover for a customer service outsourcer
The study also found that organizations are becoming increasingly aware of the negative impact that a poor new hire candidate experience can have on the company brand. With the rise in popularity of social media, and with more job seekers using it as a platform to air their grievances, a positive experience is as essential for candidates who don't receive job offers as those who do. "People are at the heart of everything we do, so it's imperative that we closely examine the link between our customers' talent decisions and their business outcomes," explained David Leigh, CEO of SHL. "In this day and age, the way companies leverage their People Intelligence can not only dictate their level of success, but whether they can compete at all in any given market."
The 2012 report also underscored the growing demand for Talent Analytics, as businesses seek to determine how their workforce measures up to the competitive landscape by industry or geography. Talent Analytics provides answers to some of the most pressing questions facing businesses today including how well an organization is attracting and retaining talent, the strength of its leadership pipeline, and how to make talent programs more effective and efficient.
Mollie Lombardi, Senior Research Analyst, Aberdeen Group comments, "With the additional capability to contextualize assessment data with external data through the Talent Analytics offering, SHL is looking to change the game by giving employers new avenues of insight to power decision-making."
For more information about SHL or to request a copy of the Business Outcomes Study Report, visit: www.shl.com/2012outcomes
About SHL - People intelligence. Business results.
SHL is the leader in talent measurement solutions, driving better business results for clients through superior people intelligence and decisions - from hiring and recruiting, to employee development and succession planning. With a presence in over 50 countries, SHL delivers more than 25 million assessments annually in over 30 languages - allowing over 10,000 business customers to benefit from both global expertise and local insight. Along with its world-class consulting practices and 24-hour support center, SHL clients can access over 1,000 assessments through an easy-to-use technology platform. Headquartered in London, UK, the company has offices in North and South America, Europe, the Middle East, Africa, Asia and Australia/New Zealand. For more information, visit www.shl.com.