Hand’s up, who has recruited a new employee, you thought was a dream candidate only to be shocked and horrified when they handed in their notice before their six months probationary period is up?
When this happens, you not only have to start all over again, you have also lost financially because of the wasted time in recruitment costs, salary, training the new employee into the job, lost productivity as well as affecting the morale of the team.
The Chartered Institute of Personnel Development (C.I.P.D) has calculated that the average cost of replacing a junior employee can be up to five thousand; a manager between ten to thirty thousand and a Senior Manager/Director up to 1.5 times their salary!
Where recruitment can go wrong…
The reason why sometimes using just the interview as a method for assessing candidates is not as effective as we would like is because Human beings are multidimensional… the interview only looks at the individual through one lens, but if we want to understand the potential of a job candidate we have to go deeper and look at that person in a holistic way through a number of different lenses.
Then we can say we have a well-rounded view of that person and can make the decision as to whether or not they are likely to be the best fit for the job, team and organisation they are about to move in to.
Because we are living in an environment where change is the norm, managers need to think very differently about their recruitment strategy. For example, instead of recruiting for their current position, decision-makers will also need to be mindful of what that job will be in six months or one year from now.
Taking the time in the beginning to develop recruitment process that provides a way to measure how a person maps against their current job and their potential to develop into a role in the future, will pay dividends as well as save you time and money, in the long run.
Here’s how Predictive Analytics can help:
- First get crystal clear on the performance expectations in the role – what do you want the person to actually deliver on – define it in terms of KPI’s and understand how those KPI’s will be measured in the job.
- Then define the baseline eligibility requirements –e. Level of education, experience, qualifications and knowledge required in the role.
- Understand ‘Suitability’ – the behavioural characteristics important for the job and how aligned their values are with the culture.
- It is also important to define what does not make them suitable, i.e. how they will behave under pressure, for example.
Once the above is mapped and the blueprint for the ideal candidate is developed.
You can then migrate this information across to the predictive analytics technology we use here at Human-ByDesign.
Our technology uses very advanced A.I. Out of the long list of applicants that apply for the role, the algorithm simply looks to see which job candidate is the closest match to the criteria in the job.
The A.I. is very fast, it can produce a full assessment of how well the candidates map to the skills and behaviors required for the job – in under an hour.
This method ensures that you only spend time interviewing the candidates that are the best fit for the role, saving you time and resource.
That is very empowering for you as an employer because it gives you greater visibility into the key strengths and development areas of a job candidate prior to interviewing them.
Many of our clients then use this data as part of the interview process to focus the interview on gaining the evidence they need to make the best hiring decision. In combination with eligibility testing, the results you can expect can be as high as 80% predictive accuracy and that is going to give you much greater clarity and confidence when making your final hiring decision.
To discover more about how predictive analytics can support you to hire the best…you can reach us at: info@human-bydesign.com