Organizations are nothing more or less than a collection of people whose skills fit and align with the needs of the organization. Company success is always dependent on talent, and attracting and acquiring the right talent. However, on average 25% of mission-critical open positions remain vacant after five months. Most executives understand the crucial aspects of recruitment and the right talent. Many are investing an enormous amount of time, money, and resources to compete fiercely for talent.
82% of firms use some method of pre-employment assessment tests. To ensure the right fit, firms are turning to customized and predictive hiring processes and tools that facilitate accurate hiring decisions on a systematic and consistent basis. With the advancement in technology, the nature and variety of talent assessment tools have evolved over the years. With more available data, formal assessments are gradually shifting to immersive, personalized psychometric talent assessment tools to make hiring assessment more effective.
At CMP, we have seen the effective use of validated assessments provide our clients with a competitive talent advantage. CMP’s rigorous and efficient executive talent assessment tools have results available in real-time and provide predictive insights without slowing down the hiring process. CMP’s assessment process goes below the surface to bring deeper insights and prediction to hiring and onboarding process.
"We have made a dent in hunger insecurity thanks to hiring and investing in the right leadership talent. The insights from executive talent assessment tools and solutions from CMP made all the difference."
Science-based talent assessment tools can provide you with a true competitive advantage in the competitive talent marketplace. Below are a few key advantages:
1. Accelerate hiring process and improve quality of hire
Talent assessment tools give you an accurate overview of a candidate’s competencies, performance, and potential based on specific skill requirements. It can help establish which candidates have the necessary skills for the role and narrow down the talent pool, helping the recruitment team save significant time in the process. This enables a quicker and smarter shortlisting of suitable candidates while improving the quality of hires.
2. Unbiased and validated metrics to make informed hiring decisions
When assessed by recruiters or hiring managers, it is possible that the candidate pool could be based on shared interests, favorable interactions, or assumptions. These biases cloud judgement and create “noise” in the hiring process that is unrelated to the key attributes required to be successful in the role. With talent assessment tools, you have validated and insights to evaluate talent fairly, with less bias, and against the true requirements of the role, culture and strategy.
3. Build high-performing teams
Data-driven talent assessment tools holistically assess a candidate’s skills, characteristics, abilities, and expertise in real-time. This torrent of data provides rich insights into the best talent through objective screening. This translates into a competent and productive workforce that fits within the organizational framework, and helps you build a complimentary team while knowing your talent deeply on day-one so you can position them for success. The tools will also expose you to the strengths, skill gaps, and untapped potential, presenting an opportunity to enhance training and provide high-quality talent development.
The competitive demands for candidate-centric hiring have created a powerful force that drives change in talent assessment methods. There is a growing demand for shorter candidate experiences, quicker hiring processes, and innovative techniques to target the right talent. While there are many talent assessment tools for firms to choose from, an executive assessment company like CMP can bring deeper insights to help you identify and onboard high-performing talent. Click here to learn more.