Hungry- a bag of potato chips is worth a lot, if you just got out of a big dinner at Morton's or Ruth Chris, there is little or no marginal benefit. In organizations, if you have a highly disorganized and unfocused hiring process, there is a huge benefit to simply implementing some basic systems for managing candidates, planning your talent and structuring your interview process. On the other hand, many organizations, especially those that have not had a hiring push recently, will not be fully conscious of their lack of basic processes or systems for this purpose. Others almost conversely, will take their conscious observation of this and invest in a fix-all IT system that often brings with it a whole new set of problems.
When you implement a decision support system based on job specific research and you take the time to understand the candidates fit with the job and culture, the marginal benefit is almost always very large- whether your talent processes are mature or rather undeveloped, however the nature of the benefits is considerably different in these scenarios.
Let's take the scenario of implementing a talent decision support system that consists of the following:
Decision Support system that provides the following:
- A validated profile of a person including a comprehensive list of traits then when matched up to specific research job templates achieves 90%+ accuracy in predicting high, average or low performance in specific jobs. (LINK:WHY)
- The ability to access over 6800 seed job studies to assist you in fine tuning your own or to do performance benchmarking to create your own profiles
- The ability to do job specific eligibility and suitability screening
- The ability to access and screen people against a whole range of competency models from leadership and coaching to negotiating and dealing with unstructured situations.
- The ability to understand how employees and managers will respond in specific situations and to help them better utilize relevant strengths to overcome weaknesses.
What would the marginal benefits be of implementing this decision support system?
- Cost savings by reducing or eliminating bad hiring or promotion decisions
- Goals more efficiently and effectively achieved by making the best use of your people's talents and improved engagement.
- More effective work efforts be it, departmental operations, project teams, special change management teams etc, due to better "team design", more awareness of each other talents, tendencies and behavioral competencies…
- Efficiency and cost savings across all investments in talent management with more automation, more objective decision support, more focused investments…