Over the past 30+ years, businesses have spent billions on talent assessments. Many of these are now being used to understand job candidates. Increasingly, businesses are asking how (or if) a predictive talent acquisition strategy can include the use of pre-hire assessments? As costs of failed new hires continue to rise, recruiters and hiring managers are looking for any kind of pre-hire information to increase the probability of making a great hire.
For all of the marketing hype, Predictive Analytics boils down to three very simple steps.
- Step 1: A system reads “input” data – perhaps assessment scores or CV information
- Step 2: The system does some math to apply a “predictive model” to the input data.
- Step 3: The results of the model are shown as “output” data of the model – perhaps the likelihood of the candidate achieving a certain level of Sales Performance or another KPI.At heart, it takes “inputs” and turns them into “outputs” or predicted business outcomes. But to build and validate a model, you need a healthy, logical set of both input and output data for that role in your company.
If you are using a talent assessment alone — you are using only input data. Your talent assessment is just one piece of the system. There are 2 more pieces (see above)
Most Current Talent Assessments Used Today for Talent Acquisition – are Not Predictive
Results are delivered in an individual report that cannot be analyzed or aggregated. For most “legacy” talent assessments, it’s difficult or impossible to determine what positive (or negative) business affect the assessments are having. It often comes down to the question of “how much the HR person believes the results” vs. “how much the business is able to document the results”. As an industry – we must do better for the businesses we support.
But it doesn’t have to be that way.
Talent Analytics Predictive Talent Acquisition Solutions use Predictive Talent Assessments Based on Modern Data Science
At Talent Analytics, we include talent assessment data, generated from our own proprietary assessments, as an additional data point in every predictive project. In predictive-speak, “our assessment data has proven to be a very strong independent variable for our predictive models”. We repeatedly prove that our Talent Analytics scores, predict business performance, such as the probability of someone making their sales quota, or the probability of someone lasting in a contact center role for at least 12 months, the probability of a truck driver making accidents . . . and so on for most quantifiable KPIs.
If you’d like to begin a predictive talent acquisition project using talent assessments, it can be daunting to figure out what solutions are smoke and mirrors, and what solutions will actually deliver a predictive solution.
To help, we wanted to share important questions to ask when you are looking to add predictive prehire talent assessments to your Predictive Talent Acquisition Strategy.