ARLINGTON, Va., Nov. 30, 2016 /PRNewswire/ -- Managers today estimate that one-in-five employees should not have been hired, according to CEB (NYSE: CEB), a best practice insight and technology company. This may be because applicants didn't meet basic requirements (65% won't), the cultural fit with the organization wasn't there or the hiring manager lacked the evidence-based tools to make a good decision. Fortunately, talent assessments can help employers reduce the number of regretted hires and ease recruiter pressure, while enabling leaders to focus their energies on core growth strategies to drive the business forward.
The Top 5 Benefits of Talent Assessments
Hire Better People Faster. Whether assessing job seekers' skills for frontline positions, pinpointing high-potential in managers, or determining leadership candidates' fit to roles, different assessment tools can identify the right match regardless of level in the organization.
Ensure Objectivity in Hiring. Talent assessments, backed by science, add a level of objectivity to the hiring process that goes beyond "gut feel." Progressive companies are using machine learning algorithms, which identify top candidates by reviewing resumes based on patterns of features associated with high and low performers within a specific company and role. These algorithmic assessments are an excellent complement to psychometric assessments. Used together, they significantly minimize the biases that are inherent with human decision making and focusing on verified data to increase the likelihood of companies hiring the candidates that fit best.
Provide Tangible ROI. HR organizations need to be able to quantify the business impact of talent acquisition and development programs using key metrics like employee productivity in role, job performance, future potential, and engagement. Talent assessments offer an opportunity for HR teams to consistently measure and collect key data around performance and future potential to support these efforts.
Inject Transparency into the Hiring Process. Lack of clarity in the application process can deter candidates from applying for jobs. Utilizing candidate-centric assessments, like CEB Precise Fit, enables employers to create a positive experience for applicants by providing meaningful information and feedback throughout the process. Candidates are able to make more informed decisions about their alignment with the role and have a better overall experience with the employer's brand.
Create Opportunity for Conversation. A good selection process is a two-way interaction, and the best talent management programs use what is discovered through the assessment process to provide coaching and development to current employees. Even candidates who are not selected can still learn about their workstyle by taking an assessment and gain feedback to inform future job-hunting and development.
"While there is sometimes skepticism around assessments, these science-based assessment tools – together with human interpretation of the results – have been established as a far more reliable way to make recruitment, development, and promotion decisions than human judgement alone," said Jean Martin, talent solutions architect, CEB. "Given the current labor market and the pressure for companies to get hiring and leadership development right, it's no longer a question of whether to use talent assessments or not. It's about finding ways for companies and candidates to gain greater value and insight from the experience."
To get started hiring the right people, companies should first understand what drives their business and what competencies are necessary for an employee to be successful. Before embarking on an assessments program, organizations need to consider the candidate experience. Consider that new hires who report a positive candidate experience apply 15% more discretionary effort and are 38% more likely to stay with the organization. Companies can make the experience better for candidates by partnering with them to learn how to make the process easier and more valuable to them. Finally, companies should leverage assessment results beyond the hiring process to design strategic development plans based on the strengths and development areas the assessments identify.
About CEB CEB is a best practice insight and technology company. In partnership with leading organizations around the globe, we develop innovative solutions to drive corporate performance. CEB equips leaders at more than 10,000 companies with the intelligence to effectively manage talent, customers, and operations. CEB is a trusted partner to nearly 90% of the Fortune 500 and FTSE 100, and more than 70% of the Dow Jones Asian Titans. More at cebglobal.com.