Aims at enhancing employee experience and business performance through targeted hiring
“It’s all about people”: this is the first we are taught when joining any organization. I probably didn’t fully understand its value, until I’ve started my professional path.
Whatever the job, key is, the right person must be at the right place and the right time. Matchmaking being the daily challenge, with typically constrained effort and decision times, recruiters are heavily under pressure in hiring decision making, especially at people-intensive industries with high turnover.
Master, don’t suffer, turnover; aim at top effectiveness
Turnover is a natural process: a job contract is not marriage, and in most markets it is culturally not meant to last forever. But poor matchmaking generates unfitting employees, living a negative work experience in a firm perceived as emotionally distant.
This is a major reason of high attrition – as well as of increased absenteeism and lower effectiveness on the job. Therefore, although often unrecognized, extremely high structural costs are triggered, as substitutes of leaving employees must be found. In fact, the effort spent on recruiting ends only when the new employee is fully trained and operational, typically months after hiring.
Furthermore, if turnover can be contained, HR energies may be partially diverted to other high value activities.
So, Recruitment is not just an HR fact: it’s more of a strategic financial and performance lever.
A new dimension: insight into the future
Then, how do you choose the best fitting candidate to the job? It’s not enough to know applicants’ past (education, former jobs, activities) or be informed of their present (outcomes of the interview, technical tests). Recruiters need to get a glimpse into the future of the candidate.
Teleperformance has developed Predictive Recruitment, an advanced predictive analytics solution which allows a recruiter to calculate, on an individual basis, the predicted outcome for each candidate on specific KPIs, such as the risk of attrition, the risk of absenteeism, effectiveness on a specific type of job, e.g. sales effectiveness.
Predicted outcome is a wholly new piece of information, a new dimension, not correlated to education, experience, knowledge or interview communication style. A “Nobel prize” candidate may certainly show a great resume and prove capable during interview and testing, but will not be successful as a sales person without attitude for convincing people! Or may end up being an early leaver, if not considering the job offer as a long-term position opportunity.
Predictive Recruitment is the new must have
In a fast moving, highly competitive market, where companies strive to be and remain leaders while constantly searching for best resources, it is a strategic priority to identify high value candidates, even at an early professional level, with lowest predicted risks and highest predicted performance.
For large employee communities the possibility also exists to create predictive models dedicated to specific job types, adding a new precious input to the information mix necessary to recruiters to define the best fit to the job.
The bottom line: ROI of using Predictive Recruitment
All psychometric solutions supporting the hiring decisions provide an answer to the recruiter. But is it the right answer? Did the company actually make a good deal in choosing that candidate? Is this measured at all?
As part of Predictive Recruitment, hiring decisions are part of constant monitoring and the return of having hired best scoring candidates is really measured over time, e.g. “number of FTE saved from attrition” in any period of time, yielded through hiring of candidates at low risk of attrition.
The bottom line: recruiters decision making are monitored for continuous hiring process enhancement and actual ROI from using the solution is in always in control.
Candidates are precious; positive employee experience is a must; HR effort must be well spent. That’s why, pursuing accurate hiring and allocation decisions is a must.
Predictive Recruitment is the new AI information dimension aiming at hiring decisions which are win-win for the employee and the company.