We know that an incorrect hire can be a costly mistake. That mistake can have the direct cost of having to re-fill a role and the indirect costs associated with an adverse impact on organisational and team culture, productivity and/or client relationships. While there is no perfect way to predict success, there are proven ways to increase your chances of getting it right.
Steople recently conducted research with leaders and HR professionals about the use of selection methods to inform decision-making and successful onboarding and development of employees. We found the most common methods used in selection processes were a combination of CVs/resume checking, structured interviews and reference checking. Whilst these methods are important, on their own they may not always be enough to hire great people.
Before getting to candidate selection, assessing the role itself and having a clear understanding of job profiling and competency modelling is crucial. In other words, are you very clear on the “what, how and why” of the role, as well as the required education, experience and technical skills. Roughly 50% of hiring mistakes are made because of not knowing or articulating the job requirements, especially when there are multiple people involved in the decision-making process.
Then the challenge is to find and select the best candidate. In addition to the standard methods mentioned previously, a further way to improve your chance of hiring for success in certain roles is through the use of psychometric assessment tools. In particular, the right tools explore a candidate’s ability to learn and solve problems as well as predicting a range of behaviours at work. This data can then be used to uncover strengths and development areas in relation to the role and inform future steps such as follow-up interviews and reference checking.
When done poorly, psychometrics are at best a waste of money and at worst can be a negative experience for candidates and hiring managers. However, when used correctly, assessment tools can greatly increase the chance of getting it right and have a significant return on investment.
Watch this space for details on an upcoming event hosted by Peoplecorp and Steople exploring assessment methods and how to use them well.