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September 16, 2014 by Marty Reaume

Are your Talent Acquisition Initiatives Penny Wise and Pound Foolish?

Penny wise and pound foolish

For me, this saying is never more relevant than when you are dealing with the talent acquisition process.  Investing upfront in the process to ensure the greatest probability of selecting the best candidate is critical.

talent acquistionThe cost of unwanted turnover is astounding, and often never really concretely calculated.  There are many statistics regarding the typical cost of an employee departure, and it is quite dependent on the position, but a general rule of thumb is .5 – 2x the salary of the incumbent.

Sound too high?

Consider both the direct and indirect costs of employee turnover:

  • Fundamental direct hiring costs – recruiter, job boards, advertising, interview time, reference checks
  • Departing employee’s salary, benefits costs, expenses
  • Indirect costs – onboarding, ramping, training, rescheduling, lost productivity, distraction time/costs, clean up /correcting employee mistakes, customer damage, meeting time dealing with issues, legal/separation fees

HR and Talent Acquisition teams go to great lengths to try to source amazing talent to build their client’s teams, and to compliment this, one of the most effective methods for increasing the chance of selecting the most suitable candidate is including talent assessment tools in the selection process.

Talent Assessment Tools

I have been using candidate assessments for over 15 years, in different industries and environments, and the impact has been considerable.   As Chief People Officer in a rapidly growing global technology organization, our team poured over hiring statistics, reviewing turnover by department, by geography, tenure, the interview process, the questionnaires utilized and the interviewing techniques of the hiring managers.

We knew how to hire for skill, but we had to combat the firing for “fit” aspect.

What we needed to do was to infuse a more balanced approach to talent selection with the addition of behavioral, motivational and competency based assessments.   Hiring managers became conversant in the language and application of these assessments.  We all knew what to look for and how to follow up with the candidate or through reference questions.

We also learned the hard way what happened when we disregarded the information in the assessment…myself included.  One of the worst hiring decisions I made for our team could have been prevented if we had paid attention to what the assessment was telling us, rather than being charmed by the candidate.   Some of the hiring managers learned the hard way as well – but these mistakes only made us more committed to ensuring candidates completed assessments and they were properly analyzed.

How did we find a solution?

We created a common language in the organization that wasn’t limited to the recruitment process; it spilled over into many of our talent processes including development, succession planning, coaching, performance management and general communication amongst our employees.

Our culture was positively impacted.  Global turnover rates dropped from the mid 20’s to a single digit turnover percentage.  It wasn’t all because of the use of assessments, but they played an integral role in helping us achieve such an impactful result.

Penny wise or pound foolish?

For the minimal cost of assessments, and what can be learned about your potential new hire from this information, this is a wise upfront choice that I will make any day and skip the pricy turnover alternative.

If you are looking to see a positive change in your talent acquisition process, please reach out to book a free assessment of your processes.

Filed Under: Recruiting, Talent acquisiton Tagged With: costs of employee turnover, recruitment methods, talent assessment tools

August 12, 2014 by Marty Reaume

Superior Interview Questions for Superior Employees

Guest Post by: Adam Wong

For those seeking to hire new talent, the internet is full of pages and pages of potential interview questions to ask candidates.

There are the lists of traditional questions:

what questions to ask in job interview

  • What interests you about this company and this job?
  • What did you like or dislike about your previous job?
  • What was your biggest accomplishment in this position?
  • Have you ever had difficulty working with a manager?
  • How do you evaluate success?

Then, there are the eccentric questions that promise to explore the candidate’s psyche, catching him or her off guard and away from canned responses:

  • What song best describes your work ethic?
  • What do you think about when you are alone in your car?
  • If we came to your house for dinner, what would you prepare for us?
  • How would people communicate in a perfect world?
  • If you could be anyone else, who would it be?

And yes, these are actual interview questions Fortune 500 companies asked their candidates over the last year (courtesy of Glassdoor).

Now imagine that prior to recruiting candidates, you were able to reveal the necessary Behaviors (DISC), Motivators and competencies that a job required. You would know that the type of person you’re looking for is, say, comfortable with analysis of data, as the job requires that details, data and facts are analyzed and challenged prior to making decisions, and that important decision-making data is maintained accurately for repeated examination.

You would also identify that a successful candidate for this position would value knowledge for knowledge’s sake, appreciating one’s continued education and intellectual growth. In addition, you would recognize distinct competencies that the job necessitates, such as the ability to write clearly, succinctly and understandably; the ability to identify and prioritize activities that lead to a goal; and the ability to imagine, envision and predict what has not yet been realized.

Knowing all of this information about the job itself, your ideal candidate easily comes into focus, and interview questions that correspond directly with the specific needs of the job will yield more valuable results. Referencing those necessary behaviors, motivators and competencies, your interview questions for this particular job might look like this:

• How do you organize details for use and recall? What system do you use?
• Would you consider yourself to be an expert in something? What is it? How did you go about gaining the knowledge?
• How do you know when something you’ve written has achieved its communication goal?
• Describe the most complex project you ever worked on. How did you establish action steps and milestones for that project? What was the most difficult part of that project for you?
• Give me an example of when you predicted something that would happen in your department, organization or industry. What caused you to make that prediction?

Once you experience a job benchmarking process, it’s easy to see why there’s not one ideal list of interview questions. Each job has its own demands, and if candidates aren’t “one size fits all,” then the interview questions can’t possibly be either.

To learn more about improving your recruiting process by implementing TTI’s patented job benchmarking system, contact your TTI-certified consultant, or call (800) 869-6908.

 


 
ABOUT THE AUTHOR
Adam Wong is Director of Network Development for TTI Success Insights, driving excellence through careful thought and attention to detail, consistently anticipating the needs of all customers. He serves as an integral member of the product development team, creating new products and improving existing tools to better support the company. @TTISI_Adam

Filed Under: Hiring, Human Resources, Job Interviewing, Talent acquisiton Tagged With: hire right job candidate, hiring best candidate, hiring the right employee, interview questions

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Recent Posts

  • Are your Talent Acquisition Initiatives Penny Wise and Pound Foolish?
  • Why Paying Unhappy Employees $25K to Quit is Crazy
  • Achieving your Strategic Plans with Superior Talent
  • How to Hire and Retain Top Talent
  • Hiring (not Firing) for Soft Skills
  • Superior Interview Questions for Superior Employees

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