Why Using Assessments in the Hiring Process is Critical!

In this session attendees will learn about the importance of using assessments during the hiring process. They will learn how it supplements the traditional interview and provides a true value to the organization from a financial standpoint.
Companies invest significant time and money to acquire talent. Every time a company extends an offer; it needs to answer a few critical questions such as:
-       “If we hire this person will the person be able to perform the job and to what level of excellence?”
-       “If I hire this person will the person stay in the job long enough to justify the costs that are associated with hiring and training the person” (i.e., Does my company offer what this person is looking for in terms of his psychological, sociological and demographic needs?)
Most of these decisions are taken typically through a nebulous process of unstructured interviews utilizing information about the candidate that is confined to a resume (not necessarily an unbiased or accurate representation of the individual) and the recruiters or managers interpretation of “right” talent, with scope for bias exposing the organization to significant hiring risks.
Companies constantly manage business risks like extending credit, underwriting insurance, selling mortgages, investing their cash utilizing tools and models to set guidelines for their managers. And we all know that hiring decisions are nowhere close to perfect. So when it comes to hiring decisions why don’t companies systematically manage their hiring risk?
A larger part of the “wrongs” in managing talent begins in the early phases when talent is being acquired due to:
-       Limited guidelines on how many “wrong” hires are acceptable
-       Absence of processes that monitor how many of these decisions ended being: “right” vs. wrong”
-       The absence of sound assessment tools to help make better hiring decisions.
This marks the beginning of an unproductive employee (asset) life cycle for the organization, resulting in poor employee performance, reduced managerial productivity, constant hiring and firing, etc. All this in turn results in high training costs, unplanned attrition, low employee morale, poor job person match that eats into a company’s profitability and organizational productivity and ultimately the loss of revenue. Assessments are the answers that allow companies to make an impact on their bottom line through making better hiring decisions.

Managers and above

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		Cabot Jaffee AlignMark, Inc View Profile

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