The Best-in-Class companies* use the success profile to differentiate themselves in the war for talent. A success profile helps ensure that a new employee begins contributing to the bottom like as soon as possible. It’s an investment with significant ROI demonstrated by the best-in-class companies, the top 20 percent of profitable and productive companies. These top performing companies are 2.1 times more likely to create a profile than all other companies.
What is a success profile? It is a benchmark of essential skills, characteristics, competencies, and qualities of top-performing current employees. It’s the first step to making recruitment and hiring easier and more effective. A predictive success profile begins with a job analysis. The analysis is a common method utilized for identifying the job tasks that you absolutely can’t live without, how frequently they need to be completed, with what intensity, for how long and how much impact they have on the performance of the organization. The technique is not new. It’s merely process that asks: if the job could talk, what would it say?
A job analysis then leads to job matching, comparing the skills and potential of an individual to the required skills of the job. Job matching has been proven to increase the odds of hiring the right person by nearly 400% over using the interview alone. How effective you are at job matching will depend on how effective you are at gathering the right information from a candidate and then assessing if he or she fulfills the requirements for the job.
But a success profile is not the only step. Companies that correlate the performance defined by the success profile with pre-hire assessments are 24 percent more likely to hire workers who exceed expectations. While these pre-hire assessments might not predict every facet of an employee’s tenure with a company, it certainly is a vast improvement over the vulnerable and error-prone hiring process being used today which remains highly dependent on the interview, resume, and references.
Success Performance Solutions are experts in job analysis, competency modeling, and employee assessment for small business. Contact us today for a no-cost no-obligation obligation.
*Source: Aberdeen Group