How much is turnover really costing your organization? This corporate dilemma is everywhere and needs a solution that provides you with a faster, reliable, and best-in-class workflow to fit your retention strategy.
This week’s talk highlights the accomplished experience and nuanced insight into the pitfalls and demands of the talent market with the Managing Director & Founder of eCubed, Claudio Pineda.
he US Bureau of Labor statistics continues to reflect the impact of the pandemic in the labor market. The 2021 unemployment rate fell by .04 percent in its January report, point to 6.3 percent, and the unemployed persons decreased to 10.1 million. Although both measures are much lower than their April 2020 highs, they remained well above their pre-pandemic levels in February 2020 (3.5 percent and 5.7 million, respectively).
Bringing new candidates to a role in which they have little to no experience can be a big gamble for companies. Entry-level positions have the highest turnover. Here’s where we come in; Fit in Test (FIT) was conceived to assist recruiters and hiring managers in finding the right candidate faster—allowing them to spend more time qualifying onboarding applicants instead of wasting endless hours disqualifying those who aren’t the right fit. FIT aims to reduce uncertainty by implementing a low-cost evaluation tool with an incredible return on investment (ROI). The process is quite simple. Once we understand the demands of the job, we customize the algorithm to identify suitable candidates.
How fast to install and implement the solution? Once we understand your out-of-the-box requirements, the implementation can be completed in days.
Looking to the Challenge Ahead
As the economy continues to move in the right direction, employers will start facing the challenging work of hiring the correct new entrant and experienced employees into their industry. The employment market for the college Class of 2020 is filled with paradoxes. Some industries are hiring at record levels, but when 51% of new hires are bad hires, complaints about the turnover rate of new entrants are widespread.
Effective recruiting ensures that your employees possess the knowledge and skills to impact your bottom line and therefore create a tangible ROI as soon as they are hired. Recruiting processes that enrich potential hires personally and show individual value doesn’t make employees feel under scrutiny. Instead, they feel invigorated and look forward to applying their skills to this new role. This ultimately creates a feeling of excitement and loyalty to the organization that felt that they were worth the consideration.
The effects of hiring mistakes can affect team morale, diversity targets, and reducing overall efficiency throughout the organization. The FIT Assessment Tool can facilitate new industry entrants’ evaluation and ensures more efficient talent acquisition practices. The faster selection allows recruiters to do more and makes workflows more efficient at gathering data. How do I start the selection process? To get started, you need to select the number of candidates you need to process through the assessment tool and the multifaceted data you wish to analyze.
Reduce uncertainty using FIT’s multidimensional analysis to provide a better way to vet new candidates. Multidimensional analysis aids in selecting the right staff and provides a clear extrapolation of candidates’ fit for the job. Allowing your team to grow in strength and increase efficiencies. FIT does it faster, better, and at a lower cost!
FIT’s (Fit-in-Test) Talent Acquisition and Talent Management Solutions are specially designed to work with your team. Using our proven Learning Management System (LMS) for onboarding and new hire training, test customization that curates curricula to your organization’s essential talent question strategy, and FIT’s robust talent acquisition engine, FIT easily integrates into your organization. In conjunction with our robust data reporting tools, FIT can create, launch, and manage an unparalleled hiring solution for your team.
FIT combines all our performance hiring tools to provide you with a best-in-class workflow to fit your retention strategy. Contact us now for a free consultation today!
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