Hiring is one of the most important activities business owners or managers will undertake for their companies.
After all, it is the employees – the human capital – who represent a company’s product or service to its customers. This ultimately determines whether the company is profitable.
Unfortunately, hiring often occurs reactively or on a spur of the moment, with predictably negative outcomes. The consequences of not taking the time to hire right the first time are financially and culturally taxing on a company.
Don’t allow bad hiring practices to undermine your organization. Three key points are essential to enhancing current hiring practices:
1. The traditional way of hiring is flawed. From the writing of the job description through the interview process, our natural biases creep in and prevent us from really seeing which skills a person needs to be successful in a given job.
Instead, opt for a streamlined hiring process based on data rather than opinion.
2. Hiring often is a huge money pit. Hiring for many companies is a black hole of time and resources. In fact, more than 30 percent of participants in one webinar I attended said their interview process took five weeks or longer.
Think about how much time you could save with a better screening process and a system that filtered out ill-fitting interviewees.
3. The use of assessments in hiring is on the rise. In 2015, 57 percent of Fortune 500 companies used assessments in their hiring processes, an increase from 21 percent in 2001, according to the Wall Street Journal [subscription required].
Companies that use valid and reliable assessments are hiring more efficiently and more successfully.
The Lewis Co. provides the Talent Management Plus™ (TMP) applicant tracking system. It is assessment based and incorporates more than 30 years of science and research.
One of the most exciting aspects of my job is teaching companies how to incorporate assessments into their current hiring practices. Assessment data collected during the hiring process will engage new employees. This will allow for a tailored on-boarding program, which will increase long-term retention.
To learn more about using assessments when hiring, please contact me at firstname.lastname@example.org.