BY Avan Tan Management
HR has the most important function in every organization. You are responsible for building and maintaining a competitive workforce. It all starts with sourcing and recruitment. Top companies have always been fighting over hiring the very best candidates for their business.
This is growing your business and increasing your profitability. But how do you know if you are hiring the most talented and experienced candidates?
We strongly argue that you need a complete and effective recruitment funnel that would help you screen candidates and make sure you are hiring the right person for the right role.
The top 10 companies in the Philippines all have excellent recruitment strategies. They hire only the best, and most competent candidates, those who will have a major contribution to their organization.
For most companies, on the other hand, improving and optimizing recruitment strategies is not even a priority. As long as they are getting hires, they are good, regardless of the quality of hires. A recruitment strategy consisting of: (1) sourcing, (2) initial interview, and (3) final interview is not enough. There is a possibility of getting good hires, but this will not help you build a competitive workforce which should be one of, if not the top priority of every HR departments.
Funny thing is, there are a lot of companies who are not willing to work on improving their recruitment strategy (believe it or not). This should not be the case, as bad hires will cost your company more in the long run. If you want to increase your profitability and scale your business, you should focus on getting the right people first.
In sourcing and hiring candidates, you need to have a way to assess their abilities and validate the information they put into their resumes. One thing to do this is through psychometric assessments that measure: (1) cognitive ability, (2) behavior & personality, (3) emotional intelligence, and (4) leadership potential. For us, these are the must-haves in validating an applicant’s competency and fit for the role. But of course, you can also include job-specific skills, soft skills, and technical skills to your assessment.
Being able to measure these will make your team more confident that you are making the right decision in hiring, and your turnover rates will be lower since you can evaluate if a candidate is a great fit for the job and company culture. Lastly, your new hires will be easier to further train and develop due to their competency. Thanks to your intricate screening & selection process, you are now only hiring the best of the best – not just out of your discernment, but because of your assessments.
All of these equals a really competitive workplace or at least new hires. Now we can grasp why psychometric assessments are crucial in recruitment and talent acquisition, but an effective recruitment funnel does not stop here.
A successful recruitment funnel has: (1) applicant tracking system, (2) comprehensive set of psychometric assessments, and focuses on providing excellent candidate experience for applicants.
But by understanding the crucial role of psychometric assessments and the need to integrate it with your recruitment funnel, you will be a step towards building and maintaining a competitive workforce.