Presentation on theme: "The Return on $taffing Review Quantify the Financial Impacts on staffing spend vs. value with powerful new tools from BDT International. How do you spend."— Presentation transcript:
The Return on $taffing Review Quantify the Financial Impacts on staffing spend vs. value with powerful new tools from BDT International. How do you spend the right amount of money on staffing?
Two Tough Questions executives ask about staffing: 1.What is our total monthly spend on staffing ? 2.What do we get for that spend ?
Staffing Spend Components Staffing Agencies Placing Recruitment Ads Screening Walk-ins & Ad Responses Candidate Assessment Final Decision Making $5-15,000 per hire $ ,000 per hire $ ,000 per hire $ 20 – 1000 per hire $ 50 – 500 per hire
What value do firms get from their spend on staffing? Before now, there was no way to calculate the dollar return for a multi- stage staffing process. The Talent Curve Simulator shows the SHAPE of the Talent Curve for both existing methods and Best Practice alternatives. Then the simulator translates the Talent Curve SHAPE into an expected annual performance improvement per hire. Do you need to turn this Into this ?
Position Performance Impact (The difference in the value received from successful vs. struggling talent) Funnel Power (The number of people considered at each staffing decision point) Decision Power (The accuracy of staffing decisions. Few people per decision point Many people per decision point Small impact on company success Large impact on company success Weak decision power Strong decision power What value do firms get from their spend on staffing?
The Impact on Performance Type Percentages
Online Assessment Solution: Impact on the Talent Curve
Online Assessment: Impact on Performance Value
So how do you spend the right amount of money on staffing? 1. the agency spend by approving searches for ONLY high impact, low funnel power openings. 2. the advertising spend by approving ONLY pre-tested content via high yield sources. Capitalize on a database of previously assessed in-house and external talent via active Talent Communities. 3. the screening spend by eliminating resume reading and screening interviews, replacing slow and laborious processes with online qualifiers (yes/no), scored screening questions (multiple choice), and behavioral interview questions.
So how do you spend the right amount of money on staffing? 4. the assessment spend by adopting valid, job-related assessments of ability, personality, technical skill and behavioral competency. 5. the Final Decision spend by reducing short lists to 2-3 through valid screening and assessment and by starting final decision interviews online– reducing interview length while increasing comfort and confirmed achievements.
Most Importantly, QUANTIFY the Opportunity 1.Review and analyze total monthly staffing spend. 2.Simulate the impacts of Funnel Power and Decision Power for each step in the Staffing Value Chain on the new hire Talent Curve (% of stars, achievers, keepers, problems, and mistakes), 3.Transform the Talent Curve Impacts for Current vs. Best Practice options into average annual performance value per hire.
The Confidence to Act We guarantee to reduce your total staffing spend. (Quarterly review) We guarantee to hit our Performance Savings estimates OR adjust our fees proportionately either way. (Annual review) We guarantee your candidates will evaluate their E.ssessor experience positively.