As an HR professional or as a manager or executive, you know that the recruiting and hiring process takes an enormous amount of time and money and can make you want to pull your hair out. After all, if you hire the wrong person, what’s that going to cost you in terms of your influence and reputation? And what is it going to cost your company in hard dollars?
According to the Labor Department, it costs on average, one-third of a new hire’s annual salary to replace him or her—and obviously, those costs increase the higher up in the company the turnover occurs.
Now that we know the challenge, what are the solutions? One solution that more and more companies are using to find top talent, put them in the right spot and to keep them is what I call “Scientific Hiring.” You might be wondering “What the heck is that—and why should I care?” In part scientific hiring is about using behavioral assessments that are:
- Objective (developed and validated exclusively for use within occupational and organizational populations)
- Reliable (is proven to provide yield similar results if the same person takes it numerous times)
- Valid (it measures what it says it measures and is proven to be accurate—in this case, workplace behavior and performance)
- Neutral (regarding gender, race or age)
Read the entire article written by Predictive Results consultant Alan Allard.