[In this multi-part series, FurstPerson will examine the award-winning results a telecommunications customer achieved through the use of FurstPerson’s hiring assessment tools. The series will examine specific obstacles, goals, statistics, and results that FurstPerson and the customer witnessed from the use of these assessments.]
Hiring assessments are not bandages on a hiring process, nor are they “plug and play” solutions to improving the talent acquisition process. When done correctly they are dynamic and designed to cut to the core of a candidate and help answer the forefront question of hiring teams: is this person qualified for the job they’re applying for?
Over the past week and a half we’ve examined the power of what a well-developed hiring assessment can do for a hiring team. These studies have examined a contact center’s effort to improve their candidates by finding more qualified talent that will stay committed longer and return more to the company. The results have shown:
- An increase in first call resolution (FCR) from 72% to 99% in new hires
- A reduction in early stage attrition from 36.7% to 5.9%
- An ROI on the investment of 2,900%
The culmination of these results is due to an effort in analytics; a popular and rapidly-growing trend in talent acquisition, but one that can be difficult to understand and implement.
There has been plenty discussed already on the topic of talent analytics from both a challenges standpoint as well as a benefits, but these studies are a living example of just how essential analytics truly are to hiring. In this case study, analytics were used to:
- Understand which candidates would be qualified for the position
- Evaluate which candidates were performing well
- Measure different areas of performance for improvements in hiring
- Taking data from various performance areas and incorporating those into the hiring process to develop better targeted, higher qualified candidates
Analytics is not a futuristic benefit of the talent acquisition process; it is a current benefit that companies with well-designed hiring assessments can begin taking advantage of immediately since the hiring assessments provide a foundation of data to be used. For FurstPerson and the telecommunications company in these studies, data was collected on candidates from their initial application all the way through their employment, continually being examined for incorporation into the hiring assessment process. There are countless values from this – from helping build a foundation of data for a company to use, to leveraging analytics with confidence.
All these studies have had analytics in common, and as FurstPerson has previously mentioned, there is no better place to start with an analytics effort than with the hiring process. The hiring assessments provide a natural foundation for building data, and because FurstPerson works with their clients to understand the data coming in, building strategies around how to use that data isn’t a daunting, lonely journey – it’s a partnership.
What do you think? Leave a comment, and make sure you check out the rest of our series on Analytics in Talent Assessment!