A recent study of 20,000 new hires* discovered that 46% of newly-hired employees will be found to be the wrong hire choice within 18 months. And, it’s not a lack of technical skills that are the primary reason why they do; instead, poor interpersonal skills are the main one, which many managers admit were overlooked during the job interview process because most of us hire with intuition and go with our gut feeling. We often hire what we see in ourselves when we should be hiring a mix of skills and behaviour to suit the role, the team, and the company goals.
In fact, the same study shows that attitudes drive 89% of hiring failures, while technical skills account for only 11%. And when you look at other stats in this study, only 15% of companies have defined the attitudes that make their high performers so special and 56% of HR Executives said that half or less of their current employees have the right attitudes.
So, what is the cost of the wrong hire to a business?
In recent stats published by recruitment company, Robert Half, it takes 10 weeks to fire and 6 weeks to rehire on average, so a total of 4 months where productivity and management time are significantly impacted, which each have a cost implication. The true overall cost of a bad hire includes:
So, it’s fair to say that hiring the right person for the job first time around can save a business time and money.
How can you avoid making the wrong hire?
One key step in the recruitment process is to look at the soft skills and personality attributes and take the time to understand and define what those are for the roles within your organisation. Once you have those benchmarked, using psychometric assessment as part of the hiring process can really help ensure you get the best fit for all aspects of any role well ahead of onboarding the successful candidate.
One such tool is that offered by Great People Inside (GPI) who offers a fully customisable, psychometric assessment and 360° survey. Their assessment looks into the behaviours of an individual and allows hiring managers to easily learn how a candidate is likely to perform in a new role and also how to improve an employee’s performance in an existing one. The GPI assessment platform is designed to meet the exact, and differing, information requirements of each individual business to help make recruitment and development activity more efficient and cost-effective.
ProAction HR has used the GPI psychometric tool numerous times and has found it to be the best one, providing the most accurate results, and enabling us to make the most informed choice, compared to others available in the market. We also love it because it’s also fun and easy to use!
At ProAction HR, we firmly believe it is so important to use a well-tested and validated tool, so you can confidently rely on the information it is telling you. As a team, we are reassured by the testing process that has gone into GPI that makes this a sound choice for psychometric testing.
We know there is an overwhelming choice of psychometric assessments available, so how can you be sure that GPI is the most suitable one for your organisation? It is our preferred choice because of these key attributes:
We would love to show you how Psychometric Assessments can help your recruitment and people development so you can avoid the costs and loss in productivity of repeat hires.