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CVS Health named 2017 HRM Impact Award Winner

The Society for Industrial and Organizational Psychology (SIOP) and Society for Human Resource Management (SHRM), along with their foundations, have announced CVS Health as the winner of the 2017 Human Resource Management Impact Award.
 
This award is the result of CVS's partnership with Shaker to create a custom Virtual Job Tryout system to dramatically improve the pharmacy company's hiring outcomes.
 
Read the project summary.
 

The HRM Impact Award is an international honor given by SIOP, SHRM, the SHRM Foundation, and the SIOP Foundation that recognizes organizations with outstanding evidence-based HR management practices. The award also promotes HR practices and initiatives that have been measured and successful through evidence-based, data-driven analyses.

CVS Health is a pharmacy innovation company with a mission of helping people on their path to better health. CVS Health’s winning project, the Customer Care Pre-Hire Screening Assessment, is a custom-built, multi-media pre-hire screening assessment with a realistic job preview that integrates the company’s applicant tracking system. Post-implementation studies have shown that the assessment has quickly and dramatically lowered costs, improved applicant reactions, and increased new hire performance on a variety of operational outcomes such as reduced hold times, call transfers, and call backs. These early performance gains have led to greater efficiency, a better caller experience, and increased profitability.

“CVS Health exemplifies the gold standard in the use of evidence-based HR strategies and practices to foster organizational success, and we are proud to honor them with this year’s HRM Impact Award,” said Sara L. Rynes, chair of this year’s HRM Impact Award Committee. “Their submission solved a very important business problem, used research-proven methods to develop a Virtual Job Tryout, and showed very positive results with respect to performance improvement."

“We congratulate the winner of the 2017 HRM Impact Award and their effective use of a pre-hire screening tactic,” added Henry G. (Hank) Jackson, SHRM’s president and CEO. “Their direct impact on business outcomes while simultaneously serving the company’s mission serves as a positive example for HR professionals everywhere.

The award will be presented at the Hilton Minneapolis on Friday, October 20 during SIOP’s Leading Edge Consortium, “Innovations in Executive Coaching: Deepening Your Expertise in a Dynamic World.” The winner will also be honored at the SHRM Volunteer Leader Summit on Friday, November 17 in Washington, D.C.

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