Single wrong hire can cost companies INR 20 Lakhs – Use the Right Recruitment Tools

¦¦Single wrong hire can cost companies INR 20 Lakhs – Use the Right Recruitment Tools

Single wrong hire can cost companies INR 20 Lakhs – Use the Right Recruitment Tools

A recent study revealed that the typical cost of a wrongful hire for a corporate is between 3 and 16 times the annual salary for the role. So a junior level executive with a package of INR 4 Lakh per annum, could cost a company up to INR 20 Lakh in sunk cost [recruiters time, on-boarding cost, opportunity cost] As a result, HR professionals are under increasing pressure to implement the best in recruitment tools to ensure they find the right candidates to fit their organization.

The study reveals that the main reason why hiring ‘fails’ can be attributed to suitability factors like lack of suitable mindset, inability to manage emotions, wrong behavioural temperament for the job.

The days are long gone when recruitment was in the hands of the employer. With recruitment increasingly driven by the candidate rather than the company, recruitment best practices have shifted in focus, with websites like Glassdoor ensuring that candidate attraction sits at the top of agenda alongside selection and appointment.

PRISM Brain Mapping is one of the best recruitment tools availible that can help recruiters make effective hiring decisions. Our organisation categorizes the recruitment process into the following stages:

Setting suitability benchmark

PRISM Brain Mapping enables the recruiter to sets a suitability benchmark to identify behavioural requirement of the job role. Getting the beginning part or ‘set-up’ of the process right will lead to more objective decision making as well as selecting the candidate that is most appropriate for the job and therefore likely to be the most successful. PRISM’s Brain Mapping tool will enable your organization to understand what kind of person exactly your organization requires for the particular role at hand.

Assessment in order to spot the right candidates and their selection

Observe competencies and qualities more than once in order to confirm that it is a reliable characteristic and ability and embed assessments to gain a more rounded, objective view. PRISM brain Mapping understands the importance of assessing a candidate’s interpersonal skills and behavioural preferences in order to determine if he or she can truly fit in smoothly with a particular organization and contribute to its synergy. Therefore our inventories do more than just assess a candidate’s IQ or work aptitude. We assess every aspect of their behaviour.

Find the right fit – Matching individual brain map to the job benchmark allows recruiters to make better hiring decisions with a higher degree of reliability. Thus, closing the loop on making quicker job offers to candidates.

On-boarding new employees to the role, team and organisation

Well begun is half done goes the quote. A detailed induction will allow the new joiners to settle well into the business and can be tailored to that individual using the information gathered from the recruitment process. A PRISM Brain Mapping report gives insights into the individual’s behaviour preferences to ensure that the on-boarding program can be tailored for maximum effectiveness.

Need help in your recruitment process? Our certified PRISM Brain Mapping practitioners can work with you at every stage of your recruitment cycle: defining the vacant role, assessment and selection and appointing the right person, giving you a better understanding of best practice approaches to each of these areas.

To know how PRISM Brain Mapping can enhance your current recruitment process

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2018-05-22T06:22:45+00:00

About the Author:

Hemang is an experienced Business Coach and Trainer known for his measured and precision analysis and feedback along with individual counselling skills which compare with the best internationally. He is a highly skilled Management Graduate with more than 14 years of experience in the formulation, expansion and implementation of high level strategies relating to people and business in diverse verticals like Retail, Wellness, Logistics and Talent Development in UK, Singapore and India.