Reinventing Talent Assessment
Reinventing talent assessment has now become a key concern for talent and recruiting managers of organisations. In a recent report by CEB (formerly SHL) they identify with many of the questions organisations are now posing about selecting talented people for their business.
Can you identify with the following?
“Our new recruit turnover rate is higher than it should be, and we think it’s because we’re not properly assessing for fit.” Director of Talent Acquisition, Electronics Firm
“Our business’s talent needs have changed, but our assessment and selection processes haven’t caught up yet.” Recruitment Manager, Retail Chain
“We do not have consistent processes for assessment, selection, and development across the firm, which can lead to poor decisions.” VP, Talent Management, Financial Services Firm
Therefore reinventing talent assessment is now a key process in the search for talent.
Why is it time for reinventing talent assessment?
One main area of concern is that under performing individuals are recruited using subjective, ineffective and unreliable methods. Often the focus is on ‘filling the role’ rather than taking the decision to ‘drive business results’. Many organisations often lack the knowledge and tools to effectively demonstrate identifying talented individuals. When interviewed nearly two-thirds of recruiting executives indicated that one of their top three near-term priorities was to upgrade their assessment and selection capabilities. (Source: CEB 2015 Recruiting Agenda Poll.)
Reinventing talent assessments is now going to focus on a transformational shift in the role for HR professionals from process owner to talent advisor. This will see talent assessment programmes becoming embedded as part of the business strategy with a focus on return on investment, that facilitates objective, data-driven decision making.
Can you identify with the following recruiter questions?
Identifying talent is evolving rapidly and more specialised than ever. Talent and recruiting managers face the following challenges.
|How can we reduce turnover?||On average, one in four new recruits leaves within a year. (CEB Q4 2012 Global Labour Market Survey.)|
|How can I find people who will be successful in the role?||There may be a lot of applicants, but 65% of them will not meet basic requirements. In one recent competition, undertaken by Testing Talent 85% of recent graduates were 'below average' in their numeracy ability|
|How can I reduce time to recruit?||Due to increasing complexity and more people involved in decisions, it takes 30% more time to review and select candidates for new types of positions or skills.|
|How is the recruiting process affecting our candidates?||One in four candidates reports having a negative recruiting experience, which could affect how he or she feels about being your customer or advocate.|
|Is our recruiting process effectively helping the business?||Only one in three recruiting managers is satisfied with the influence recruiting has on the business. (CEB analysis.)|
|How can we be certain we are developing talent in the most critical areas for their performance?||Few development programmes use the insight of formal assessment to drive impact.|
|How can we identify high-potential talent more accurately?||Only one in seven of today's high performers is high potential.|
|How can we develop leaders more effectively?||Only 27% of leaders are equipped to handle the future needs of the organisation.|
|How can we maximise the workforce's ability to successfully navigate change?||Fifty percent (50%) of all change initiatives are failures.|
Are you ready for reinventing talent assessment for your organisation?
With access to new technologies and analytic capabilities organisations can gain a high level of precision in recruiting and developing their most important asset – their people. By reinventing talent assessment best practices and innovations you can drive higher levels of new recruit and employee performance by engaging candidates and employees in ways that support your organisation’s brand and business profitability.
To harness the power of talent assessment contact Dominic McCanny – Chartered Corporate Psychologist