Better Employment Testing: Use our ROI calculators to see the true cost of staffing waste.
Staffing waste is a term we at Shaker Consulting Group use to describe economic value that's lost due to inefficiencies in your employment testing and staffing process. To illustrate the financial impact that staffing waste may have on your organization, we've developed two interactive ROI and staffing waste calculators: 1) the False Start Waste and Rework ROI Calculator, which tabulates losses in on-boarding resources and salary from false starts; and 2) the Sales Impact of Better Selection ROI Calculator, which deals with performance variation between bottom and top performers.
One form of staffing waste is the investment of recruiting and on-boarding new employees who quit or are terminated before they achieve proficiency or minimum performance standards, usually within 90 to 120 days. The financial impact each of these “false starts” can have on your organization, when calculated properly, is tremendous. Because each false start is more than just a waste of time, resources and dollars spent on the individual who is terminated—rework is required to recruit and train the replacement hire. To put it another way, rework actually doubles the cost of on-boarding for each false start.
Launch the False Start Waste and Rework ROI Calculator, which shows a hypothetical example of how this doubling-effect would look at a company with 100 false starts annually. Feel free to input your own data, too. (Warning: the numbers may shock you.)
Your current staffing process yields people who, when hired, become your top performers and bottom performers, as well as those who separate in less than 120 days. The difference in performance among new hires is what we call performance variation. Making improvements in your candidate selection process that reduce the number of hires who achieve results similar to the bottom 20% of performers can have measurable business impact, as demonstrated in the Sales Impact of Better Selection ROI Calculator.
Get a greater return on investment from pre employment testing with Shaker Consulting Group.
In an environment where people are considered an organization's greatest investment, we believe a measurement system to reflect that belief and make it tangible is vital. Shaker Consulting Group provides leading-edge analytical tools, pre employment testing and scientific methodologies to help business managers, HR professionals and recruiters like you increase the value that people contribute to your company's business objectives.
By enabling recruiters to collect better candidate data that predicts on-the-job performance, Virtual Job Tryout® will help you maximize the return on your staffing process investment—in other words, better data means better hiring decisions and better results. Virtual Job Tryout utilizes a range of scientifically proven methods to help you with everything from reducing false starts and improving individual performance to condensing the new hire learning curve or increasing recruiter effectiveness. What's more, Virtual Job Tryout is a unique candidate assessment in that it combines the value of a highly interactive and company-branded candidate experience, work sample simulations, the rigor and decision science of industrial psychology, and the efficiency and accessibility of the internet.