What kind of difference can it make? Or Can this really lower turnover?

There are people that are very good with the interview process, having a natural ability to evaluate people and trusting their intuition. Then there are the rest of us.

Given average to a little above average ability to interview a candidate well, the success rate of hiring a good fit is 52% - about the same average as flipping a coin. Only this time the results can mean lower productivity and/or a higher turnover cost.

Increase success chances in hiring a good fit for the job by having a multi-level approach:

 

Image Courtesy of Dr. Ira Wolfe


What does this mean in real dollars?

Taking the lowest cost of 35% of the annual salary to replace a non-exempt employee making $10 an hour equals $7,280.

Applying this cost per employee with the hiring success will multiply out like this:

Skilled interviewing 52% $13,999
+ Good background and reference check 62% $11,742
+ Screening or Behavioral assessment 68% $10,550
+ Abilities assessment 74% $ 9,837
+ Attitude and Interests assessment 78% $ 9,333
All of the above + job matching benchmark 87% $ 8,320*
*saving more than 40%    

 

If The Job Could Talk Who Would The Job Hire? Call 512.278.1200 or 1-866-646-1200. No cost. No obligation.