Assessment Tools to Play Bigger Role In Hiring
The pressure is on for companies to get hiring and leadership development right. As the battle for the best workers heats up, here are the top five benefits of talent assessments.
The Hunt Scanlon article, "Assessment Tools to Play Bigger Role In Hiring," featured the partnership between Russell Reynolds Associates and Hogan Assessments and quoted CEO Clarke Murphy. The article is excerpted below. To find out more about the global, exclusive partnership, check out the video of "CEO perspective on Hogan-Russell Reynolds Associates partnership" or read our press release.
Managers today estimate that one-in-five employees should not have been hired, according to a new study by CEB, a best practice insight and technology company. This may be because applicants didn’t meet basic requirements (65 percent won’t), the cultural fit with the organization wasn’t there or the hiring manager lacked the evidence-based tools to make a good decision.
Fortunately, talent assessments can help employers reduce the number of regretted hires and ease recruiter pressure, while enabling leaders to focus their energies on core growth strategies to drive the business forward.
Russell Reynolds Associates, one of the ‘Big Five’ assessment providers, recently formed a partnership with Hogan Assessments, a global provider of personality assessment and leadership development. The alliance is designed to increase the success rate of executive appointments and accelerate the development of rising leaders. It combines Russell Reynolds’ expertise in advising senior executives and boards on executive search and succession planning with Hogan’s suite of assessment instruments, data assets and scientific acumen.
“The cost of betting on the wrong leader has never been higher,” said Reynolds’ chief executive officer Clarke Murphy. “That said, innovation in the executive assessment space has not kept pace with the rate of change confronting senior executives.”
Mr. Murphy said the initial stage of working with Hogan will be “sharply focused” on the creation of an assessment approach that is purpose-built to predict success (both short- and long-term) in senior executive roles. “For decision-makers, ‘increasing predictability’ really means ‘reducing risk,’” he said. “The risk associated with executive selection and hiring has always been high. But, as executive roles have become more complex, the risk of making the wrong hiring decision has increased meaningfully.”
To read the full article, click here.
Also, view our video on the “CEO Perspective on the Hogan-Russell Reynolds Associates Partnership."