80% of turnover stems from flawed hiring practices and poor job fit
95% of Employers admit to making hiring mistakes by recruiting the wrong people each year – Why? They settle!
Gallup estimates that actively disengaged employees cost the U.S. $483 billion to $605 billion each year in lost productivity.
Traditional selection methods have several limitations for the accurate understanding of people and their performance, and yet with the right tools, hiring is the most controllable variable in the development of a productive and successful work team.
Traditional Hiring/ Promotion Process
It all starts here. According to Data Facts, a traditional interview process is only 14% effective at predicting job success. It's critical to match an employee's cognitive abilities with those required for the job. Adding job fit assessment tools to the process increases predictability of job success to 75%!
Poor Job Fit
Job match is an integral part of a candidate’s actual on-the-job success. It's extremely difficult and expensive to try to train your way out of a bad hiring decision. Poor job fit is the #1 driver of employee disengagement.
Disengagement
The result of poor job fit is employee disengagement, which leads to low morale, low productivity and disruption to the balance of the team. Companies ranking in the top quartile on employee engagement outperformed those in the bottom quartile by 21% higher profitability, 20% higher sales, 17% higher productivity, and 10% higher customer ratings.
Turnover
According to the Harvard Business Review, as much as 80% of employee turnover stems from bad hiring decisions. What's it costing you? Trends indicate that top talent is the first to leave. Disengaged employees may leave, but many stay and end up contributing to a toxic work culture.
BREAK the vicious cycle of traditional hiring practices
Start leveraging the latest technologies in business and human analytics to define the “right seat” and to identify the "right person” in order to ensure proper job fit and maximize employee productivity.
Don’t “trust your gut” when making hiring decisions. Instead, make data-driven decisions to drive growth, bottom-line maximization and improvement to overall culture and sustainability.
At THE BOARD OF ADVISORS we use applied analytical trait data, to help visionary leaders understand the importance of the right job fit, engineer a high-performance team and retain top talent.
Do you have the right team for your business strategy?
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