Selection and Interviewing
A research study completed reported that the cost of a bad hire ranged from one to five times of that employee's annual salary. Costs for bad hires can vary tremendously depending on the nature of the position in question and costs that are included in the calculation. Performance Solutions Source works with clients to develop and implement best practice selection and development systems. They are “best practices” in the sense that they are designed to drive specific outcomes and they include the best tools, the best processes and the best implementation so the systems are sustainable over time.
The Business Need
While almost all companies recognize the enormous financial returns in selecting the right people for open positions, and then developing their capabilities on an ongoing basis, they often approach selection and development systems in an unscientific, haphazard manner. They are vague about the outcomes these systems should produce, fail to measure how well they are actually working and don’t enforce consistent utilization of the systems across the organization.
Without valid data on how well systems are operating, people responsible for the systems are left guessing about what, if anything, they should do to improve them. Furthermore, the system owners are inundated with vendors trying to sell “magic bullet” tools which purport to solve all their problems.
Performance Solutions Source helps clients deal with these issues by using a sound, data-based methodology for examining existing selection and development systems and identifying ways they can be improved. The process varies depending on client needs, but these are the typical steps:
|Clarify the specific outcomes desired and how to measure the degree to which they are being achieved||Identify the key competencies the selection or development system will measure||Examine the current system and identify strengths and weaknesses||Benchmark best practices in your company, in other companies, and from our research||Source or develop the best tools and processes and conduct due diligence||Pull everything together into a logical process flow and pilot test with key stakeholders||Implement the system, including good communications and training||Re-examine the new system after 12-18 months and refine as necessary|
In additon to helping you implement or fine tune an existing approach to the employee selection process, Performance Solutions Source also offers training solutions that will improve the ability of managers to screen and select the most qualified candidates.
Contact us at Performance Solutions Source or call 561-307-6954 for additional information.