Posted on December 7, 2020 at 5:00 AM by Tom Hamilton, SPHR

View post titled How to achieve better recruiting results on a tight budget (click to read)

What are the 5 R's? Refer, Recruit, Recognize, Reward and Retain. The keys to attracting and keeping the people that will drive growth and profitability. We are delivering this brief newsletter to Company Executives, Managers & Human Resource Pro's who have the responsibility of recruiting and retaining the best talent for their organization.
How to achieve better recruiting results on a tight budget:
First take a look at your budget and ask yourself "how can you spend the money you have most effectively"? We know that the greatest impact you can have on the organization is at the time of hire. So how much did you spend last year on recruiting? Has this ever happened to you? Paying for a candidate to travel, putting them up for a night and then passing on them because they didn't fit the culture of the organization. In this scenario, a pre-employment test would have saved you the time and money of by identifying the poor fit before the travel and interview took place. Research has consistently demonstrated that inexpensive pre-employment testing offers unique and valuable predictive information about an individual’s future on-the-job performance. Cognitive reasoning tests in particular offer valuable information about an individual’s verbal, numerical, and conceptual skills that can be generalized across different types of jobs and situations. Personality or work style questionnaires are also commonly used to assess job-relevant behaviors and preferences in a work context. The use of pre-employment testing can lead to higher employee commitment, satisfaction, and reduced turnover, as they assist in placing the candidate in a role they are well suited to, where they are more likely to have a higher level of job satisfaction, and consequently stay in the role for longer. And lower turnover reduces your recruiting spend!
Your employment brand should be one of excellence:
Whether it’s taking personal interest surveys on Facebook, Survey Monkeys at work, or completing a survey for a dating site application, we are very familiar with taking assessments as a part of our personal lives. A company in today’s environment that does not use corporate assessments as a tool in the hiring process is going to appear prehistoric and out of touch. As the worldwide use of corporate assessments grows exponentially, it is becoming a common expectation among candidates to be required to take employee assessments. They will immediately get the impression that the company is technologically advanced and cares about its employees.
Conclusion: The research is empirical and the data is robust; inexpensive corporate assessment tools can have an enormous impact on the hiring and retention process. They are your best investment for your dollar. Whether it’s the financial or cultural impact of making the wrong hire, the impact of missing the superstar candidate, the hit the company’s brand takes when looking unsophisticated and ancient to candidates in a competitive market, or over-spending and under-performing during the search and interview process, the opportunity costs of not using corporate assessments can be extremely high. If you are primarily using résumés and interviews to hire employees, you have the potential to dramatically improve your hiring and promotion accuracy by adding assessment testing.