Return on Investment
More objective candidate data can improve your talent acquisition process and deliver a measurable and meaningful return on investment.
Three Sources for Return on Investment
- Recruiter Efficiency – get to best-fit candidates faster with less effort
- New Hire Retention – fewer false starts and lower staffing waste and rework
- New Hire Performance – faster time to proficiency and high levels of performance
Recruiter Efficiency – Less Time and Effort
Organizations that use the Virtual Job Tryout reduce their interview to hire ratio and spend less time with poor-fit candidates. It is common to achieve a 2 to 1 interview to hire ratio using the Virtual Job Tryout. Applicants can look the same on paper. It’s difficult to see meaningful differences using words on a page. The data from a Virtual Job Tryout allows recruiters and hiring managers to rank candidates from most to least qualified at the click of a mouse. This can create a return on investment by reducing total time spent reviewing, screening and interviewing.
New Hire Retention – Reduce Staffing Waste and Rework
Organizations using the Virtual Job Tryout increase new hire retention and reduce staffing waste on replacement hiring. It is common to realize a 30% to 50% reduction in new hire turnover using the Virtual Job Tryout. Ninety-day new hire turnover can be extremely expensive. This doubles the cost per hire, on-boarding and training dollars spent. Data you typically do not find on a resume, but can discover with a work history questionnaire can identify high tenure risk applicants. This can create a return on investment by reducing false starts and 90-day turnover. Click here to use a Staffing Waste and Rework ROI Calculator.
New Hire Performance – Higher Productivity, Faster Time to Proficiency
Organizations that use the Virtual Job Tryout hire individuals that learn faster and achieve higher levels of productivity. It is common to see 20% to 50% higher levels of productivity from individuals who perform well on the Virtual Job Tryout. Capabilities vary among candidates. Work sample simulations and whole-person assessments that mirror the complexity of the job can differentiate among applicants. Data from an actual work sample can identify differences in applicants who look the same on paper. This can create a return on investment by hiring individuals who possess the capabilities to deliver superior results. Click here to use a Performance Variation ROI Calculator.
The best way to experience the Virtual Job Tryout is to see one first hand via a demonstration.