At its core, the recruitment function is all about hiring the best available talent that both meets the organization’s needs but also fits within its culture.
Successful hires that are well matched to needs and organizational dynamics can increase an organization’s profitability by as much as 21%. The opposite of that can negatively impact profit with companies losing an average of $15,000 for every bad hire made at the specialist to functional manager level.
This is where talent assessment can be the differentiator in ensuring whether you are making a successful hire or a costly one. Having an effective strategy and utilizing the right talent assessment tools gives you objective measurements that aid in your hiring decisions and recommendations.
Talent assessment’s value lies in opportunity, that is the opportunity for an organization to accurately select the best talent available. With the appropriate assessment methods paired with clear objectives, hiring managers can measure and evaluate a candidate’s strengths, skills, and potential. It also provides an opportunity to assess soft skills such as a candidate’s interpersonal skills, overall fit and ability to adapt to the organization’s culture.
A comprehensive approach to candidate assessment provides positive impact beyond an efficient hiring process. Properly done, the assessment process can deliver longer term impact to business costs, employee engagement, and performance.
According to a study, US companies spend an average of $4,000 to hire an employee and it takes 52 days on average to fill each professional and technical level position. If you multiply that across multiple job vacancies, you can more accurately see how expensive the hiring process can be. This also doesn’t consider the opportunity cost that comes with positions remaining vacant.
Properly leveraging talent assessment tools allows hiring managers to refine a short list to be comprised of those with the highest potential which can also significantly shorten the selection process. Efficiencies gained can drive down costs that lowers the company’s operational expenses and increases revenue.
Studies have found that a heightened degree of focus on filling vacancies with high-performing, engaged and motivated candidates can increase profits by as much as 21%. Talent assessment tools not only reduce expenses, but they also indirectly improve a business’ overall performance.
As previously mentioned, identifying strong candidates is made easier by using talent assessment tools because it measures cognitive abilities, skills, and competencies as well as provides behavioral indicators that provide insight on motivation and decision making. Gaining access to this kind of quantitative data can greatly enhance your selection process.
Talent assessment tools also remove biases allowing hiring managers to focus on the candidate’s hard and soft skills, talent, and experience over discriminating factors. This can translate into helping your company become more inclusive and diverse.
Based on research, employees who are a great fit for the company’s culture will most likely stay in the company 42% of the time. That’s why evaluating organizational fit matters too. While skills and abilities are valuable, they can be wasted because of poor organizational and cultural fit.
Determining this isn’t as clear-cut as measuring one’s mathematical abilities. Using talent assessment tools can help you identify candidates with the desired traits and behaviors that will allow them to thrive in your company’s culture and environment. These are the hires most likely to stay in the organization.
1. Define Your Objectives
Before you can begin using talent assessment tools in your recruitment process, the first thing that needs to be done is to define your recruitment objectives. The role of the recruiter is to find and engage the best available talent for the recruitment mandate. While finding or sourcing candidates is a bit of a research function, the engagement function requires a different skill set and therefore should be clarified and defined. Also to be considered, is the search mandate aligned with the company’s values and goals?
It’s also important to align with company leaders and hiring managers to identify the most critical roles that need to be filled, when they’re needed, and any specific skill sets they require. Each team has different needs, and objectives will vary accordingly. Clearly defined goals will serve as your guide when establishing or refining your recruitment strategy and process.
2. Establish An Effective Recruitment Process
An effective recruitment process will have everything to do with your success or failure to meet your hiring objectives and therein directly impact the business. From the outside observer, the recruitment function appears as a simple process of interviewing and candidate selection. For those of us who live and work in the recruiting space know that it goes deeper than that.
It’s composed of outlining recruitment activities, taking advantage of available resources, creating strategic partnerships that will help you reach your objectives, and much more. Having an effective process paves the way for seamless talent assessment integration.
One way to be more effective is to keep your job descriptions simple and focusing only on the essential requirements. A long laundry list with ad-hoc tasks can make it difficult for applicants to even try submitting their applications, making talent assessment moot.
Another element to consider is the utilization of software to manage all the data points gathered. That’s a subject for another article, but it’s important to note that assessment tools provide a lot of information about candidates and the right tools to track and manage that data is critical to the selection and decision-making process. An effective process allows you to streamline tasks and should help you achieve your goals faster.
3. Do A Thorough Job Analysis
Talent assessment tools are only useful when you have properly identified the key requirements and skills needing to be assessed. Without a clear understanding of what’s needed you’ll be wasting time evaluating talent without fully knowing what you’re looking for.
Conducting a thorough analysis of the job analysis allows you to identify which specific skills and competencies are needed for the job and thus allows you to deploy the most appropriate assessment tool.
For example, Project Managers need to have excellent time management and communications skills. Knowing this, you’ll want to ensure your assessment tool tests the candidate's time management and communication skills.
4. Evaluate Available Assessment Tools
Knowing the required skills and competencies to be measured for the specific job is half the battle. The other half is utilizing the right assessment tools that will provide you with a complete and accurate picture of the candidate’s talents and compatibility. No single cookie-cutter tool will provide you with everything you need, so here are some industry-accepted talent assessment methods commonly used by talent acquisition teams.
Cognitive Ability Tests
These tests evaluate a candidate’s critical thinking and problem-solving skills. They measure your candidate’s current skill level and their ability to learn new ones. It’s also a means to evaluate general intelligence and assess their capability of doing specialized tasks. This provides important insight into future job performance, especially with complex tasks.
The best candidates aren’t just skillful and smart, they’re also highly motivated professionals. With personality tests, the candidate’s personal traits, more specifically, their motivations, professional behavior, and commitment will be measured for your evaluation.
This is just as important as their skills and competencies assessment because it can show how well the individual can fit within the company culture, work environment, and their team. This matters because it can directly impact customer service and teamwork, which can spell the difference between success and failure.
One of the best ways to determine how well the candidate can do the job is to simulate it. Like on-the-job training, the candidate will be able to get a first-hand experience of the job, what the work environment feels like, how well they can perform, and how they fit in with the team. Since this has a more practical application, it’s not suitable for every kind of job available.
5. Measure and Analyze Results
After successfully testing candidates, measuring, and analyzing results will give you a more wholistic picture of their capabilities and potential and then allow you to compare them against the rest of the field. Without a system, this can be very challenging.
Utilizing analytical tools helps assess results and to identify the best available talent but it doesn’t end there. Once you have these results, your objectives will validate your selection. Do your selected candidates have what the business requires? Are they the best fit for the hiring manager’s team? Do they have the qualities to make them successful in your workplace culture and environment? Talent assessment tools help you answer these questions and will allow you to make a more confident and competent recommendation to your hiring managers.
Talent assessment is an essential element for most every organization. Without it, hiring the best talent becomes a subjective trial and error process that is bound to hurt your metrics and the company’s overall performance, not to mention costs, time, and wasted effort.
If you are facing challenges to recruiting the talent you need, you can rest assured that The QualiFind Group can provide you with solutions to help you find the best talent that are also a great fit within your organization.
With over 20 years of experience, The QualiFind Group is more than capable of integrating talent assessment tools to customize your recruitment process and meet your company’s requirement for talent.
Ready to find the next great talent that can take your organization to the next level? Contact us at https://www.qualifindgroup.com/en/contact/ to get started!
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