What kind of difference can it make? Or Can this really lower turnover?
There are people that are very good with the interview process, having a natural ability to evaluate people and trusting their intuition. Then there are the rest of us.
Given average to a little above average ability to interview a candidate well, the success rate of hiring a good fit is 52% - about the same average as flipping a coin. Only this time the results can mean lower productivity and/or a higher turnover cost.
Increase success chances in hiring a good fit for the job by having a multi-level approach:
Image Courtesy of Dr. Ira Wolfe
|+ Good background and reference check||62%||$11,742|
|+ Screening or Behavioral assessment||68%||$10,550|
|+ Abilities assessment||74%||$ 9,837|
|+ Attitude and Interests assessment||78%||$ 9,333|
|All of the above + job matching benchmark||87%||$ 8,320*|
|*saving more than 40%|