So you have some open positions to fill within your company, but you have had a series of bad hires that have cost you a great deal of time, energy, and money. How can you safeguard yourself from this continuing cycle and hire the best, most qualified candidates for the job?
High employee turnover is a fact for many companies, but it doesn’t have to be. If you have examined your leadership and found that employees are being treated equitably, it may be time to consider pre-employment assessments to screen potential employees before offering them a position.
Benefits of Pre-Employment Assessments
Pre-employment assessments (or screenings) can take a good deal of guesswork out of finding and retaining great employees—saving you thousands of dollars and helping your business reach its maximum potential. Why? The simple fact is that some people interview well, and may even look good on paper, but may not have the personality or aptitude for the position. The reverse can also be true—some interviewees don’t interview well at all but can be gems within your organization! Here are some reasons to consider investing a nominal amount in employment assessments for large savings down the road.
- Person-Position Compatibility. Assessments can help you determine if a potential hire is a good “fit” for the job, greatly increasing the likelihood of that employee’s engagement, satisfaction, and longevity.
- Measure Performance. Assessments can measure the performance of the potential hire by assessing multiple areas, including judgement, leadership effectiveness, cognitive ability, behavior, personality, and level of motivation for management competency.
- Increase Employee Retention. Procuring high-performing talent means nothing if you can’t keep them around. Multiple studies have shown that you can reduce turnover by half with a scientifically-based assessment program.
- Save Thousands in Bad Hires. Per the U.S. Department of Labor, the price of a bad hire is at least 30 percent of the employee’s first-year earnings. For a small business or start-up, this can be a real threat to the business itself (U.S. Department of Labor Study, 2003). In 2013, CareerBuilder found in a survey of 6,000 hiring managers/HR professionals that 27% reported a single bad hire costing over $50,000. Ouch.
But not all pre-employment assessments are created equal. Do your research to find the most reputable and appropriate tests for your employees.
Need help finding the best pre-employment assessment tools for your organization? Leadership Excellence can help. Learn more about the pre-employment/employment assessments we utilize and how our pre-employment screening services can help your company avoid costly hiring errors.
We are now offering a free pre-employment assessment screening good towards your next hire when you sign up for a complimentary 15-minute consultation for any of our business services. Learn More…