Selection and Development ROI
The cost of recruitment and talent management is a key issue for any organisation in today's economic climate. Any Return on Investment calculation must take into account managerial and administrative time, as well as opportunity costs, SHL can provide you with quantifiable solutions that aid in providing a proven Return on Investment (ROI) for assessment processes.
Return on Investment in selection and development
Aligning HR processes with business strategy and using the right recruitment and talent management tools can have a positive impact on business results. Part of aligning the HR processes should include the use of technically sound and valid tests for selection and assessment.
If you can identify and develop the top performers who will drive the success of the business and produce significant financial gains there will be a positive benefit to the business. Organisations that improve their selection and development processes and incorporate measurement and analysis can quickly demonstrate the ROI from this area.
SHL has a wide range of assessment tools and tests available that can help you realise measurable ROI from your selection and development processes.
Contact us for more information about the SHL products and services that will help you with measuring ROI in recruitment and talent management
How to measure assessment ROI
Return on Investment in assessment means measuring all the economic returns generated from using assessment procedures such as psychometric tests.
These returns are then compared with the true cost of the assessments to determine an average annual rate of return on the investment. When assessing the cost of recruitment, for example, organisations should also consider the cost to the business of making a wrong hiring decision or failing to maximise on available employee potential.
These metrics are particular to each organisation and business challenge and the inputs and outcomes will vary.
Find out how SHL assessments helped a company reduce employee turnover to save almost $2.5m in one year
How SHL can help you improve ROI
At SHL we strive to provide our clients with as much information as possible in order to help resolve business issues and help you make the right recruitment and development decisions.
Each year SHL helps up to 10,000 organisations across the globe to reduce risk, save time, reduce cost and improve profit margins through:
- Increasing employee productivity
- Reducing staff turnover and therefore recruitment costs
- Reducing absenteeism and accident rates
- Reducing cost per hire
- Enhancing customer service.
We can also help you develop your employees by:
- Identifying leadership ability
- Measuring motivation and engagement
- Enabling alignment of employee behaviour with your corporate values.
We have planned a number of webinars and events around the subject of ROI and presenting HR business cases; visit our events page to find out more and register for places.
Alternatively you can request more information about SHL products and business solutions
