New Hires and Recruiting Strategies

New Hire Suitability and Failure Rates

Human capital is the core of successful business.  H-R strategies excel at recognizing and placing talent in compatible areas to maximize operations.

But the failure rate over the first 18 months subsequent to placement is alarming:

46% of New Hires fail within 18 months
Leadership IQ                                        

It is more than interesting to note that suitability of candidates profiled by subjective, conventional means, result in higher failure rates than those driven by objective strategies—i.e., driven by data-driven profiles, the more objective the more informed the process.

A data driven/simple equation outperforms human decisions by at least 25%
– Forbes (http://bit.ly/33gF2TD)

While more an issue in highly specialized areas, the matter of support within operating groups is extremely important—conventionally defined under the broad term “teamwork”-there is a balance, on the one hand, of an experienced candidate’s expertise,  and the ability to support members of a team, on the other hand (sublimating to a certain extent  some ego).  In simple terms, can the candidate “work with others”?  Conventional filters may be misleading: personal/ professional references have to be qualified—necessary and time consuming.  The lack of “suitability (defined by objective criteria)” can result in the failure rates cited above.

Behavioral Interviews

Behavioral Interviews in the election process have proven to be uneven in terms of accuracy:

  1. Some qualified people do not perform well during behavioral interviews
  2. Some unqualified people present very well during behavioral interviews but once in the field do not perform well

The failures of Behavior Assessment can be addressed by an objective filter/tool;

26% fail—can’t accept feedback; 23% fail—emotionally unstable;16% fail—lack motivation; Only 11% fail due to lack of technical skills*

*Intelligence IQ
-(http://bit.ly/38LtpFt)

 

 

A Solution

Our colleagues at Skyrush Marketing have developed and executed Enterprise Tools that provide an index of suitability in terms of:

  • Emotional stability
  • Professional enthusiasm (motivation)
  • Technical/Professional Skills

…Integrated into the selection process, these tools will reduce failure rates with attendant saving of valuable resources.

We would be delighted to show you how our platform can be implemented into your H-R and Talent Acquisition processes.