One of the most important opportunities for employers today is a large employment pool from which to draw new talent. The opportunity to upgrade the overall level of talent in your organization is strong. As you seek to raise the level of talent, first consider what positions are most critical to your bottom line. Positions where the level of performance varies greatly between the top and the bottom performers are a good place to start. These positions are ripe for improving the quality of new hires which will improve productivity and performance.
Imagine the consequences of not assessing someone seeking to join the police force, or someone aiming to join an airline as a pilot. Seems ridiculous, doesn’t it? While the impact of hiring the wrong person in those roles can be dire, the consequences of not assessing job candidates and employees in less complex jobs are also significant. The outcomes for businesses hiring or promoting the wrong person can range from poor performance, high turnover, lackluster customer service, to even lost business.
Research has shown that feedback is an effective way for individuals to gain insight into their need to change or develop. It permits participants to understand themselves more fully and to see the impact of their style and behavior on others and on goal attainment. The development process allows the manager or internal coach to help individuals take a more objective perspective. Using an assessment during this process results in a credible and more accurate self awareness. Raising self awareness is critical for employees to take ownership for changing behaviors (Riggio, 2008). For example, development assessments uncover blind spots: areas of weakness that were unknown to the participant. Participants are likely to learn about hidden strengths: skills or competencies that can be further leveraged or adapted for future roles.
Topics: Performance Management
The numbers don’t lie. The traditional approaches to hiring the right talent for a position haven’t exactly proven successful. The rate and cost of hiring mistakes is well, unmistakable. According to a recent survey, companies lost an average of $14,900 on every bad hire they made in the past year, and nearly three in four employers (74%) say they’ve hired the wrong person for a position.
And, consider this. Skilled researchers pored through 85 years of scientific literature in a groundbreaking meta-analysis, to identify which employee selection methods were the best predictors of job performance. Of the 19 methods studied, structured interviews came in 3rd place, unstructured interviews placed 9th, years of job experience came in 14th and years of education came in 16th.
This extensive research finds most traditional methods of selecting employees are deficient at predicting job performance and goes a long way toward explaining why there are so many hiring mistakes. As they say, the definition of insanity is doing the same thing over and over and expecting different results, yet isn’t that what we in the HR field have been doing? Applying the same, traditional methods of screening resumes, conducting interviews, and relying often on gut feel.
Interestingly, the researchers conducting the meta-analysis found the best predictors of job performance were general mental ability, such as IQ, and applying critical thinking and competency skills on work sample tests. Today, we call these methods “talent assessments,” and it is revolutionizing the way companies hire talent.
Selecting a high performing, profitable workforce is a significant challenge. When it's done right, the gains are considerable because in our people lie most of our dollars. By selecting employees who have the right competencies and other attributes required for the job, organizations can build a high performance workforce capable of sustaining future growth.
The XB Assessment Platform is designed just for this purpose. It measures the cognitive abilities, competencies, and other characteristics required for successful performance in a wide variety of industries and job families. It also develops your workforce by clarifying the strengths and areas of development to further employee growth, aid in succession planning and identify viable career paths. Unlike other selection tools, it offers a way to align organizational goals and with the company culture. It's not enough today to have the right skills and abilities. Top employees also must demonstrate the right fit with organizational culture, mission and values. In other words, top employees exemplify your brand. The XB Assessment Platform evaluates this fit by examining values and motivations. Further it provides a valid assessment of behavioral style, which has important implications for employee management and team effectiveness.
The COVID-19 outbreak has required organizations to embrace remote work at a rapid pace. As a result, many HR and corporate leaders are now considering making the virtual work arrangement permanent in a post-pandemic world. In fact, new data from the research firm the Institute for Corporate Productivity found that more than half of employers surveyed plan to expand or increase flexible work arrangements on a more permanent basis after the coronavirus outbreak is contained. Just 15% said they did not plan to revisit remote work options in the wake of COVID-19:
As organizations shift from face-to-face interactions to remote work due to the COVID-19 pandemic, the issue of learning and development continuity is (or should be) top of mind. During a crisis, it is common for companies to decrease their development efforts as a way to cut costs – that could be a mistake. We know that the impact the right employee development process can have is massive. In fact, Gallup finds that organizations that have made a strategic investment in employee development report 11% greater profitability and are twice as likely to retain their employees.
Even beyond those benefits, in this unprecedented time, employees are not only needing a sense of purpose outside of the reports on the pandemic, but they are anxious about their future. Fewer than four in 10 employees feel very confident that they will be able to continue to meet the requirements of their job successfully should the outbreak continue, according to Gallup.
For HR and L&D leaders, it will be imperative to address how to deploy relevant training programs, even while in the midst of the pandemic. Here are 3 strategies to consider:
As HR leaders and managers navigate this unprecedented work environment due to the COVID-19 pandemic, it’s important to recognize that many employees are still adapting to working in this new and unfamiliar remote setting. In many cases, workers have had to adjust to these changes overnight and teams and departments have been thrown into chaos.
Employee engagement is vital to maintaining the strength of the mental and emotional connection workers feel toward their places of work. So how can HR leaders and managers continue to keep their employees and teams engaged in this new normal? There are 5 effective strategies to ensure your employees still feel connected and are ultimately successful:
Crises can emerge in many different forms, and they often strike without warning. Although companies have long faced financial crisis and economic downturns, leaders have likely never faced a crisis quite like the COVID-19 pandemic. With the world turned on its head for many Americans, the need to feel secure and stable is omnipresent. As company leaders look to formulate plans to handle this crisis and the return to a new normal, one crucial factor in effective crisis management cannot be overlooked – leading with emotional intelligence (EI).
The coronavirus pandemic has changed so many aspects of daily life, including dramatically shifting the way Americans shop. This has many businesses scrambling to rapidly adjust to the new reality. With many retailers shutting down, consumers continue to require items from pharmacies, grocery stores, take-out restaurants and other essential goods. For many industries, there is a pressing need to hire more workers and fast.
In sectors such as, shipping and delivery, online learning, grocery and delivery services, and remote meeting and communications companies, high volume hiring is paramount. However, these businesses face an added challenge of doing so remotely, often with no personal contact due to the coronavirus.
As a result of the coronavirus outbreak, at least 69,000 schools across the U.S. have been closed or are scheduled to close, according to Education Week. At the same time, businesses across the country are moving to remote working in attempts to increase social distancing. Suddenly, without much preparation, many workers are now adjusting to new ways of working and connecting – with the additional burden of caring for children and managing virtual learning.
As workers try to manage their new virtual work environment and home life here are 5 tips to help overcome potential challenges.
The coronavirus (COVID-19) is prompting a wide range of employers to request employees to work from home, but many workers are simply not experienced in working virtually. In fact, as of 2018, only 24% of U.S. employees did some or all of their work at home, according to the U.S. Bureau of Labor Statistics. Workers spend more time in the workplace – 7.9 hours – than they did working at home – 2.9 hours.
A COVID-19 remote-work preparedness survey also found remote work is far from commonplace for many workers and their managers. Nearly half (49%) of workers surveyed said they never work from home. Transitioning work teams to remote work will present some challenges to managers and business leaders. To ensure a smooth and effective transition to virtual work and teams, here are 3 common mistakes that managers should avoid.
The coronavirus (COVID-19) is fundamentally altering the way many organizations operate as organizations around the country are sending workers home to work remotely. That means, for a great many people, working virtually is a new reality. As corporate leaders, managers and individual workers make this sudden shift, it’s critical to maintain productivity, ease anxiety and continue to collaborate effectively.
With that said, there are smart ways and not-so-smart ways to approach remote work. To ensure a smooth and effective transition to virtual work and teams, here are 6 common mistakes that individuals and managers should avoid.
For many of the millions of Americans being asked to work from home due to the coronavirus (COVID-19) pandemic, working virtually with team members may be a novel event. Managers and HR leaders will need to find ways to keep their virtual workers and teams motivated and maintaining performance levels, whether the virtual team is out of necessity right now or by design.
Having worked with organizations across the country to build highly effective virtual teams, and with our own network of coaches that work virtually, here are several strategies to implement within your virtual teams to ensure business continuity and success.
Ever wonder why resumes are still a part of most hiring processes? Are they even relevant anymore? The answer is yes… and no. It’s complicated. Here’s why – their relevance has shifted in today’s business environment. While traditionally resumes were used as the primary “selling tool” for candidates vying for a job, today they mainly serve as a digital footprint so hiring managers can find candidates – i.e. it makes candidates “searchable.”
Yet, many would argue that is where the value of resumes comes to a halt. Here are a few of the reasons why: