Last Updated on December 12, 2022 by Dave Schoenbeck
The emergence of .com job-search resources has helped create a fluid workforce capable of constantly searching for the next perfect opportunity. According to the International Management Association, average churn rates have jumped by more than 14% in the last decade, and that number continues to climb. Employers can combat this trend, while saving both time and money, by enlisting online executive assessments to accurately pre-qualify new job applicants. Simply put, quality, science-proven online executive assessments can ensure that a company minimizes employee-related expenses while optimizing it’s greatest potential resource….human performance.
Did you know that:
- $130B is spent annually on hiring and selection
- 75% of all hiring is due to turnover
- 80% of Fortune 500 companies rely on executive selection assessments.
Here are some other compelling facts for pre-selection executive assessments:
- It costs $7K for a salaried person bad hire
- It costs $10K for a mid-level bad hire
- It costs $50K for an executive bad hire
For decades, many of the most successful businesses have saved and profited by incorporating behavioral executive assessments into their hiring & selection process. They’ve benefited from identifying successful behavioral types, reducing unnecessary turnover, and assembling complementary talent. Today’s technological and algorithmic advances mean that these same insights are both affordable and accessible to small and medium-sized businesses.
If you are the owner of a small business, it is time for you to learn more about the tools that you can use to screen and select talented leaders.
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