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 complimentary talent. Today’s technological and
algorithmic advances mean that these same insights are both affordable and accessible to small and medium sized businesses.
Dave Schoenbeck is a professional business and executive coach who translates complex business methods, processes, and strategies into actionable plans to dramatically improve financial results. Read more about Dave here.