Did you know that 80% of employee turnover is caused by poor hiring decisions?
You always look for the best candidate when recruiting. You probably use the same recruitment process every time. You set out to bring the best possible candidate into your team.
But somewhere along the way, things didn’t exactly go to plan which is why most workforces have a mixture of top, average and poor performers- a team that looks broadly like this:
Only 16% of workforce is generally regarded as successful
For your team to be successful, you need your staff to perform at their best. A successful team is hugely rewarding for your business – which is why underperformance can be very damaging.
A study published in the Psychological Bulletin found that:
- Poor performers deliver 48% less than average performers
- Average performers deliver 48% less than top performers
- Top performers deliver over 100% more than poor performers
If your managers and directors are going to meet their targets, you need to get your recruitment process right.
Why does it go wrong?
Your recruitment can go wrong because:
- 53% of applicants lie on their CV
- 63% of interviewers judge a candidate within 5 minutes
- 58% of interviews don’t address soft skills
- 18% of interviewers don’t ask the best questions
Considering how well your candidate will fit in with the company culture is crucial to your success and their soft skills are a huge part of that consideration.
Don’t just take your applicants’ word for it – it’s your job to identify the true character of the people you meet.
Why does it matter?
In many industries and businesses, high employee turnover has become the norm.
But it doesn’t have to be that way!
- If a poor candidate leaves…
It costs at least 50% of their annual costs to replace them. - If a poor candidate stays…
They are likely to underperform – despite you paying them to be 100% effective. - Even if your candidate only slightly underperforms…
You may spend time and money developing them to an acceptable level. - But if your candidate massively underperforms…
You may have to dismiss them – again costing at least 50% of their annual costs to replace them.
Your business needs to meet its targets – but every time you have a vacancy, or someone is underperforming, that target can stretch further out of your reach.
Hit the ground running
When you recruit, you need your new recruit to hit the ground running as soon as possible and start contributing towards that target. Knowing that they will be as good as your best people is a great start. But to know that, first you need to know why some of your existing people are better than others at meeting targets?
How can you do that?
- Look at behaviours & cognitive traits that are key to success
- Identify & measure the specific skills that make your best people the best
But what, specifically, do you do?
The right psychometric assessments will get you there. But don’t be fooled. All assessments are not equal and if your current tools are not delivering, maybe it’s time to review the market and find ones designed to deliver PRECISELY this information.
Great People Inside is the world’s leading provider of customised 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 measure every potential recruit’s suitability before they join your team, then email us at uk@greatpeopleinside.com or call 01494 573 572.
