In recent years, it has become increasingly difficult for organizations to find and keep top talent. A poor hire can cost $17,000 on average. To avoid wasting time and money by hiring someone unfit, employers can use talent assessments to check the suitability of their candidates.
What is a Talent Assessment?
Over 80% of organizations use some type of assessment to gauge the potential of their applicants. These assessments allow an employer to ask questions that measure the specific skills, knowledge, and natural talents of a potential employee.
That’s great, but are talent assessments actually effective?
A survey of hiring managers has shown that using talent assessments for their candidates has led to a 36% increase in hiring satisfaction. On a more personal note, SelectionLink’s ProSelect talent assessments offer over a 92% prediction success rate.
What can Talent Assessments do for my company?
Attracting the best resumes and CVs are extremely important. Talent assessments can play an equally important role in getting to know potential employees. Assessments can provide a snapshot of how you might expect the candidate to perform, which otherwise could take months or years to figure out after they have been hired. It can also prove to be a fruitful opportunity for the applicants as well, it shows them your organization takes hiring seriously and will not hire just anyone. Verbal assessments, such as SelectionLink’s ProSelect talent assessments allows you to build a strong rapport with the candidate while gauging their overall talent level for the specific position.
Incorporating validated and standardized tools into your hiring/promotion process can also be helpful with regulatory and legal compliance. Be certain your assessment vendor can provide your organization with updated performance, reliability, and validation studies. Please view a few of our studies: Adverse Impact Study Performance Case Studies
Bring in a Diverse Workforce
Whether you are hiring at the executive, mid-level, or entry-level, talent assessments can evaluate candidates at every step. The wonderful thing about talent assessments is that everyone has unique talents regardless of their background. The key is to identify those natural talents and match them with a position that they can thrive in. No one wins when a candidate is hired into a position that does not match what they are naturally good at.
Aid in Employee Development
It is important to identify areas of potential growth for existing and new employees. This is where talent assessments come in especially handy, allowing organizations to focus on the areas where employees are most likely to improve performance. Doing so is also likely to increase employee productivity, motivation, and engagement.
Save your Organization Money
The ROI on talent assessments is unbelievable if you find the right solution. The amount of money you can save by hiring the right candidates far outweighs the cost of top assessments. At a time when it is getting harder to find the right candidate, assessments can be your saving grace.