Anything your business spends money on needs to offer a good return on investment – including when you recruit a new employee!
Forget Casinos, bookmakers’ shops or online Bingo – every time you recruit someone into your business it’s a gamble.
Every day, businesses across the world employ:
- Salespeople who can’t sell
- Customer service staff who frustrate customers
- Managers who can’t manage
But your company doesn’t have to be one of these! By adopting a sustainable recruitment process, you put your business far ahead of the competition.
Recruiting anyone is a risk.
Hiring your effective workforce
Every time you recruit a new employee, you’re taking a £10,000+ gamble. If you use the same-old tried and tested methods, such as…
- CV
- Reference Check
- Interview
… then the odds of you getting the right person are one in four.
If you are in charge of hiring, you need to hire candidates that give your company the best possible chance of success. Would you place a bet of £10k, using your company’s money, with a one in four chance of winning? Probably not.
Isn’t recruiting the wrong person just bad luck?
People ask me this question a lot. Many people believe that ‘revolving doors’ are the norm for their organisation – but it doesn’t have to be this way!
Sometimes, recruiting the wrong person is bad luck. But most of the time, it isn’t.
You can reduce the level of ‘chance’ involved and increase the likelihood of success. The more effort you put into getting your recruitment right, the more you ‘load the dice’ in your favour.
One method of improving your success further is the use of psychometric assessments. Some ‘hardened’ managers believe that psychometric assessments have limited value in the recruitment process. But this isn’t true.
If you want your new employees to be successful, you will benefit from considering assessments in your hiring process.
Why psychometric assessments?
Psychometric assessments are crucial for you to achieve success from new recruits. You face many challenges when hiring new staff.
Research also shows that businesses with engaged employees:
- Are 51% more productive
- Outperform companies with dissatisfied staff by 20-28%
- Have a 19% increase in operating income over 12-months
In another study, companies with 60-70% employee engagement had an average total shareholder’s return of 24.2%.
On the other hand, businesses with 49-60% employee engagement had an average total shareholder’s return of 9.1%.
Companies with engagement below 25% suffered negative total shareholder return.
Does it take a long time?
Assessments no longer involve lengthy paper-and-pencil completion or a time-consuming evaluation of the responses. Likewise, you don’t need an expensively trained practitioner to understand the output.
Modern psychometrics are:
- Completed and evaluated online
- Reported back within minutes of completion
- With the interviewer minutes after completion
Reports arrive with the interviewer quickly, highlighting any areas for concern and suggesting questions. That way, your interview can probe the gaps between the candidate’s scores and those of your top performers.
Improving your odds
You need to improve the odds of a successful hire.
Using assessments, combined with a top performer profile (benchmark), improve your chances of success from 26% to 75%.
Psychometric assessments measure a candidate’s profile against a ‘success’ profile for the role they’ve applied for. This role profile is based on current top performers in the role.
That way, you are identifying what success looks like – so you can recruit more success!
Great People Inside assessments:
- Only measure the things you care about
- Help you recruit the right staff
- Improve the performance of existing staff
You benefit from our assessments through the process of ‘job matching’. This allows you, as the employer, to match candidate profiles to the agreed profile for the job.
Adding this significantly improves the likelihood of your company recruiting the right person, first time around.
Protect your money – hire the right people first time, every time
For you to recruit the right person for a role, you need all the best resources available to you. This means that whilst the traditional methods of CV, interview and gut feeling still play a part, you can back these up with effective psychometric evaluation. This saves your business thousands of pounds each year.
Great People Inside is the world’s leading provider of customised recruitment assessments. We offer proven successful assessments to help get your recruitment right.
If you want to know more about how our psychometric assessments can help your company to measure every potential recruit’s suitability before they join your team, then email us at uk@greatpeopleinside.com or call 01494 573 572.
