GettingHired – Providing Organizations A Proven And Cost-Effective Behavioral Assessment Tool To Control Employee Turnover Costs.
What makes up a perfect hire? Education, Experience & PERSONALITY!
It’s been proven that an individual’s PERSONALITY is the single most important factor when hiring a new employee. GettingHired has developed a web based Behavioral Assessment tool, which helps employers measure a candidate’s unique personality against 85 Job Specific Success Profiles thus insuring optimal job fit.
 The Challenge
High Turnover in the Workplace.
A study by Michigan State University demonstrated that interviews alone are typically 14% effective in hiring the right candidate. When adding a quality behavioral assessment plus behavioral interviewing to the hiring process, efficiency can increase the effective rate to over 75%.
According to John Dooney, Manager of Strategic Research for the Society of Human Resource Management (SHRM) the typical cost of turnover is 56.9% of an employee’s annual salary and benefits for a bad hire. This 56.9% can be categorized into four areas:
- Separation Processing Costs – 3.9%
- Cost of exit interviewer's time
- Cost of departing employee's time
- Cost of administrative functions relating to the departure
- Cost of separation pay associated with the departure
- Cost of unemployment tax related to the departure
- Replacement Hiring Costs – 4.8%
- Cost of attracting applicants
- Pre-employment administrative expenses
- Cost of entrance interviews
- Cost of aptitude, skill, drug etc. testing
- Cost of hiring decisions meetings
- Cost of post employment physical exams
- Post-employment information gathering (records, payroll, etc.)
- Cost of signing bonus and/or employee finder's fee
- Training New Hire Costs – 7.6%
- Cost of information literature (manuals, brochures, policies, etc.)
- Cost of general orientation
- Cost of job orientation
- Lost Productivity and Lost Revenue – 40.6%
- Cost of additional overtime to cover the vacancy
- Cost of additional temporary help
- Cost of performance differential while new employee gets up to speed
- Cost of low morale-related time wasted due to "water cooler grumbling"
- Cost of lost customers, sales, profits due to the departure
- Cost of additional employee departures related to the departure
These components not only have a hard dollar cost to your organization, but can also be measured in time. For instance, it takes an average company, 37 days to replace a lost employee according Society of Human Resource Management (SHRM).
 The Solution – Behavioral Assessments
85 Job Specific Behavioral Assessments
Psychometric assessments are psychological tools used to measure the characteristics of human behavior. They are currently being used by over 90% of Fortune 1000 companies to predict a job candidate’s performance, training potential, learning abilities, and response to management initiatives.
These larger companies have been using psychometric analysis for many years and have worked with consultants to develop company and job specific assessment profiles and technology that is not readily affordable to middle market and smaller companies.
GettingHired has partnered with Psichometrics International, a major assessment development firm whose experience includes delivering over 2 million assessments globally to clients like ARAMARK, Coca Cola, Dell, Spherion, Administaff, Vedior Companies (staffing) and Bright House Networks (cable TV).
GettingHired’s value proposition starts with bringing the high-end assessment technology perfected at Fortune 1000 firms to middle market and smaller companies. The RightMatch™ Comparison Tool offers middle market and smaller companies a reasonably priced, job specific assessment tool whose benefits and savings can be easily quantified.
 Typical ROI
Reducing Turnover by 1 FTE will Pay For The GettingHired Program
Significant Savings - A company with 250 employees at an average salary of $40,000 a year would save $350,000 annually just by reducing turnover from 25% to 20%. Below is a sample Return On Investment (ROI) document that gets produced during the typical evaluation of the GettingHired program.
 Pricing
Annual Subscription.
The GettingHired pricing is an annual subscription fee based on the number of employees, average turnover rates and projected screening of job candidates within your organization.
Included in the annual subscription:
- Proven process and technology to reduce turnover and associated costs that is already being used by major companies throughout the world.
- Proven methodology to standardize your hiring process across all levels within your organization.
- Technique to screen all applicants across all recruiting sources (job boards, newspapers, recruiters, referrals, etc.) to ensure quality hiring.
- Unlimited use of the RightMatch™ Comparison Tool (Assessments)
- RightMatch™ Analysis Reporting & Interview Directed Questions
- Complete Training & Support
GettingHired is confident that we can assist your organization accomplish its business objectives of improving the quality of your recruiting process and reducing turnover.
To learn more, please complete our simple request form and a representative will contact you shortly.
|
|
|
