Traditional talent selection methods often result in bad hiring decisions. Poor hiring decisions are more costly than most want to admit; anywhere from 3 to 15 times the salary: the salary during the probation plus the loss in productivity and opportunities and the additional time, cost and pain to find a replacement, and not to mention, the hours spent by other staff to train or assist during this period. For various sensitive reasons, some bad hires stay as long as a year or even more!
Technical competencies are relatively easier to evaluate through tests and interviews. But typically, the causes of failures do not lie in the technical competency. The causes of failure lie in their dispositions such as their behaviour, motivators, values, competencies, emotional quotient and acumen; which are harder to evaluate accurately and objectively without a more structured and scientific selection methodology and tool.
Getting It Right
Benchmarking the job is one of the most critical success factor in talent selection. But sadly, in this Google-schooled age, it is not uncommon to see hiring managers conveniently copy and modify from the internet, job description and requirement from other similar positions and often use it too as the criteria for evaluation. In such cases, the failure may have started even before the interviews.
Talent Ark is the only certified consultant in Singapore to use a US patented job benchmarking process and instrument that uses a combination of four sciences: Behavior + Driving Forces + DNA (Competencies) + Acumen. It has been proven to set the right requirement that produces top yielding results for employers. This gives employers the confidence they need in selection and development process. Coupled by its accompanying talent assessment tools, employers are given unmatched insight and clarity of the candidates to make the right talent selection.
Staff Transitions and Staff Development
Benchmarking is not only useful for recruitment. It is highly successful when used for staff transitions and staff development. As part of the deliverable, the employer receives a detailed gap analysis and coaching report of the selected candidate that serves as an objective reliable guide in managing and growing the performance of the staff.
Many employers use this also to increase the staff productivity or coaching staff in their transitions into new positions.
Talent Ark’s services are effective for the usual succession planning that focuses in selecting the right talent within your organization or other organizations. However, Talent Ark’s services have also proven to be valuable for family-owned businesses who want to groom their very own choice persons to take over the reigns of the businesses.