In between the global business landscape becoming more demanding and the job market getting more competitive, has emerged a new challenge for talent acquisition teams in most organizations—identifying the candidates who can show their mettle in managing a wide range of positions to be filled. If some recent talent-related studies are to be believed, the process of recruiting the right candidates for the right positions is now consuming more resources and time than earlier. Organizations, however, have yet to witness corresponding results.
Let’s take an example that the average time to close a position has grown up by 50% over the past five years. Still, minimal improvement in the quality of new hires has been noticed—the average ratings given by a manager to new hires, nowadays, are being pegged at 8.02 points out of 10 as against 7.97 about five years ago as per CEB data
A majority of HR managers, worldwide, are frowning at why significant investments in various talent initiatives have not resulted in any expected outcome. The answer lies in establishing an integrated approach for an organization’s all talent management activities.
But how to establish the approach? What will be the outcomes of these approaches? Get the lowdown on all the questions below:
Build a base of expertise and support: All your assessment strategies should be based on real-life business outcomes, which signifies that HR leaders should collaborate with stakeholders across the organization. And internal customers will ultimately assist HR in defining specified metrics to evaluate the baseline performance of all employees and draw comparisons over a period of time—the more specified, the better.
Determine and assess the traits that form business success: Skills are specified according to roles. Given this, assessment strategies should consider three factors while identifying the right candidate.
Describing the skills of high performance: Regardless of the fact whether an organization describes high performance as a skill-based framework, job details, or a leadership model, it should be up to date and in line with the entire organizational strategy. Then only, all employees can understand what it takes for them to gain success in their respective roles.
Leveraging an all-inclusive process to assess the skills of HIPO employees: When it comes to recruiting for top-end roles, organizations need to pay heed to candidates’ competencies, behavior, and personality. A stringent evaluation process comprises a candidate’s potential (be it personality or cognitive ability), knowledge (judgement and skills), and in-job behavior—which are the appropriate indicators of the potential of employees as responsibilities of their job change in the future.
Ongoing assessment and validation: With job roles evolving and organizations growing, it has become mandatory to monitor and update talent strategies on a constant basis.
Give answers instead of test results: Long gone is the time when talent assessments used to give results in the form of personality profiles as well as test scores. Now, the focus has been shifted to a more sophisticated approach in order to tailor evaluation processes for detailed and job-specific answers. These answers would assist organizations in closing open roles rapidly, enabling a team to meet its business objectives.
Leverage big data and advanced analytics: Sooner than later, talent analytics will make its presence felt, strongly, in most business decisions. Case in point that 70% of talent acquisition specialists are leveraging analytics data to see outcomes, while 73% are projecting the rising popularity of analytics in the coming two years.
Align evaluation innovations with technical enhancements: Studies say that the entire process of identifying the right candidate leads to higher costs for organizations in terms of hiring times as well as the position left unfilled for long. Given this, organizations have started exploring ways to accelerate the recruiting process without any compromise on quality. An integration of the evaluation process into the talent management system is one of the effective ways for HR managers to do this—which not only helps automate routine activities but also in lessen the entire time to recruit.
Talent evaluation and assessment programs have gained a renewed thrust in today’s rapidly changing and specialized talent market. Be it for recruiting new hires or nurturing present employees—talent evaluation and assessment—if implemented strategically—can go a long way in enhancing the quality of hire and improving the rates of employee retention.