There should be very few people left who do not believe in assessments when they are hiring a senior level or key replacement.
They would include people who do not appreciate the true cost of a failed C-level hire (46% of whom will indeed fail within 18 months); people who still think it is a hirer’s market out there (which it hasn’t been for a decade); or people who still rely on a gut feeling or hire on a hunch.
Others, notably the best-in-class crowd, consistently use assessments and recognize that they are indispensable in finding and confirming high potential talent.
Assessments today are extremely sophisticated and claim a long line of benefits resulting from intelligent application. Today’s psychometric are powerful and measure potential in many different ways that will enhance productivity and reduce the cost of hiring
However, don’t try this at home. Advanced procedures require in-depth training both to apply and interpret, meaning you should be satisfied about your recruiter’s certification before proceeding.
A while back, the Aberdeen Group ran a blog post listing the five top reasons you should be using assessments.
Here they are:
- Data Trumps Hunches, Always.
With the power of measurable data on your candidates at your fingertips, gone are the days of making a decision on a gut feeling or a hunch. Interviews – which are difficult to keep strictly standardized – can’t effectively be used alone in making hiring decisions.
- You Can Measure the Whole Person.
Intelligence and prior work history are not the only factors you should consider! Assessments can provide a thorough understanding of the (4) important facets in seeking the right candidate for a particular role: Can Do, Will Do, Will Fit, and Can Lead.
- Effective Talent Measurement Can Increase Legal Defensibility.
By using a more standardized, objective approach to hiring through the use of assessments, you can make a more unbiased apples-to-apples comparison between various candidates. Validation data can be used to make sure that the assessments you’re using are good predictors for success in a specific job.
- Assessments Yield a “Prescription” for Development Programs.
If you don’t fully understand an employee’s strengths and weaknesses in the beginning, how can you build a meaningful development plan or identify high potential and leadership candidates? By using assessment data collected during hiring, you’ll be ready to engage your new employee in a tailored development program.
- You Can’t Afford Not To.
It’s more than just the team’s morale that takes a blow when you hire or promote the wrong person. Studies show it could cost up to 150% of that person’s salary to replace them.
You can read the full post here