According to a Linkedin Report on 2018 Global Recruiting Trends, recruiters can more easily discover talent by focusing on diversity, new interviewing tools, data and artificial intelligence. In the following article we will discuss the interviewing tools and how they can leverage the time component from the selection process.
Hunt Scanlon Media recently reported that employers will face increasing challenges to find and retain employees. These challenges begin with the hiring process: “Seventy five percent of employer responses stated that their hiring process, from initial interview to offer, takes more than three weeks, while the vast majority of professionals surveyed felt it should take two weeks at most.”
eSkill Corporation also conducted a client survey to determine the most challenging part of recruiting. The most frequent challenge mentioned was “quality of talent,” and the second largest concern was time: “time to hire” and “time to train.” Respondents said they had “no way to pull staff away from their job for long periods of training” or that they ‘always hire during [their] busy season and have no time to train.” These challenges are real, yet training is extremely important if you want to attract and retain talent–employees cite a lack of professional development opportunities as a driving factor in their decision to leave a job. According to a recent Gallup study, 87% of millennials want professional development (training) from their employer.
How can you possibly find the time to find or train employees? When talented and qualified candidates are working for somebody else, you need to take time recruit them. When your current employees are busy, they can’t find the time to develop themselves.
With the costs of recruitment and training, your company would be lucky to break even on investments made in hiring a new employee. You can do better than this. Several methods can help you save time in the recruiting process, thus creating more time for training and development opportunities. Working with a reliable and valid pre- and post-assessment provider can help you improve your predictive capabilities and eliminate many risks common to the hiring and training process.
A Gallup meta-analysis suggests “that when companies select the top 20% of candidates based on a scientific assessment, they frequently realize a 10% increase in productivity, a 20% increase in sales, a 30% increase in profitability, a 10% decrease in turnover and a 25% decrease in unscheduled absences.”
Generally, using assessment tests can help reduce the selection process time by more than 50%, as one of our customers experienced: Our customer needed only one hour to configure, administer and analyze the results for 100 candidates, while the candidates spent only 30 minutes to complete the assessment. eSkill tests enabled this client to reach their aggressive recruiting targets by shortening the time they spent finding the right candidates (from more than 30 days to just 10-14 days) and reducing screening and training costs by 64%. You can read the entire case study here.
”This system has literally saved us hundreds of working hours.”
–Seth Pickett, Associate Director, Human Resources, 1 800 CONTACTS
As one who experienced the benefits of assessments, Wanda Hatchett from The Orvis Company OSC Roanoke says: “After integrating our Taleo system with eSkill, we were able to move into the hiring process immediately and have scores in hand. It’s a 100% improvement in the time reduction.”
What solutions have you found to approach the time issue in recruiting and training? Let us know in the comments below.