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The "Ideal Hire" Process
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Nearly one-in-five employers report it typically takes them two months or longer to fill their open positions. With average cost to hire representing about 10% - 15% of a new employee’s annual pay and vacancy costing as much as 48% to 61% of an employee’s annual pay, the hiring process definitely impacts a company’s bottom line.
The challenge organizations face is how to reduce the time to hire while also maintaining the quality of the new employee you bring on.
IdealHire used Six Sigma Methodology to review the traditional process and look for opportunities for improvement. The results found that the areas costing the company the most time and expense are “searching” and “assessing” a candidate. The study found that these two steps can account for as much as 40-60% of the entire hiring process. That could mean as much as 1 month of time is spent in these areas.
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| The Ideal Hiring Process is different. By developing a profiling system of skills and experience, you find quality candidates not only based on matches to skills, but also the weighting of importance of the skill and the level of experience required. By evolving searching and assessing candidates into a selection process, the ideal process helps to identify candidates than “can do” the job as well as profiling and benchmarking to find candidates that “will do” the work successfully. By automating the process with the PowerMatch tool, you can get the exact criteria you require down to a select few candidates for the interview phase…within minutes. |
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| Learn how the tool works: How it works? |
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