Question: Which companies benefit from participating in Job Benchmarking?
Answer: All companies!
According to SHRM, employee turnover can readily cost you the equivalent of 6 to 9 months’ salary for the position in terms of lost productivity, recruiting costs, training, etc. Wouldn’t it be great if your hiring process had the secret to improving quality of fit and reducing turnover? Say hello to Job Benchmarking!
Job Benchmarking is a unique and effective solution because it targets a specific job’s requirements, not the person in the job. The CTCS Group utilizes TTI Success Insights patented Job Benchmarking process because it helps our clients secure the talent necessary for success while helping eliminate common biases often associated with the hiring process. However, regardless of the tool you use, the process is the same. The better you know what the job truly requires, the better you can find the candidate best positioned for success.
The Job Benchmarking process focuses not only on the hard skills of the job, but also the “soft skills” and competencies that the job requires for success. The process includes identifying:
- Hard skills vital for the job
- Knowledge an employee in this role needs
- Personal competencies required to drive success
- Behaviors necessary to perform at peak levels
- Intrinsic motivators
You can see that this process takes you far beyond simple job description requirements and into an approach that lets you target candidates that not only fit the job requirements, but also your culture. When done right, you tailor your job requirements and interview questions to target the behaviors the job requires for success. If you use a tool like the TTI assessments, these tools will also provide interview guides to help you ask better questions to get at the best fit for your role.
Here are some tips on how to implement job benchmarking into your hiring process:
- Identify jobs to benchmark. It may not be possible (or cost effective) to benchmark every role in your company, given your resources and bandwidth, so start with positions that seem to hire more frequently; for example, a sales or customer service role.
- Establish benchmarks. In addition to education and experience, identify personality traits that the job requires, such as being sociable or analytical, autonomous or team-oriented, etc. These details can help you figure out if a candidate or new hire will work out long-term. As noted, we highly recommend you use a validated assessment tool both to create the benchmark as well as assess your candidates.
- Interview new candidates. Keep the education, experience, and personality benchmarks you’ve established in mind as you interview candidates. Use behavioral interview questions that involve the particular behaviours and personality traits needed for someone to be successful in the role.
- Consider use of 3rd Party assessment tools. Using a tool helps provide additional data into the process by comparing the candidate directly to the job benchmark you created using the same tool. This screening process adds non-biased data to your decision process and helps validate your observations during the interview.
Effective use of job benchmarking can make the difference between a short-term and a long-term employee, which saves you time, money, and improves your bottom line. If you need further HR assistance, feel free to reach out to The CTCS Group at (770) 282-2304 or https://thectcsgroup.com.
Chris Thomas, SHRM-SCP is the Principal Consultant with The CTCS Group in Canton, GA. The CTCS Group is focused on providing HR Leadership, Behavioral Assessments, and Consulting to help small businesses grow and thrive. You can subscribe to this blog or request a free consultation at www.thectcsgroup.com.
Disclaimer: The information and recommendations provided in this document should not be considered legal advice and should not substitute for legal advice where the facts and circumstances warrant. Recommendations are provided based on good faith assessment and interpretation of the available legal and regulatory resources.