Plum Blog

Ask any kid what they want to do when they grow up, and you’ll see the sparkle in their eyes as they tell you. But when those big dreamers reach adulthood, they are often squashed by jobs they aren’t passionate about and resign themselves to days spent counting down the seconds until they can go home.

Across industries, incredible candidates are often overlooked simply because they do not have the right degree or job title to be selected by evaluation algorithms. Meanwhile, businesses are scrambling to find talent to fill vacant roles as their current workforce jumps to other opportunities. In light of this challenge, an increasing number of organizations are shifting to skills-based hiring. But what is this new hiring model and how can it benefit your organization?  

When you hire the right people, you reduce your recruitment costs and ensure your team is set up to flourish and outperform your competitors. Losing an employee due to a poor hiring decision can cost more than twice their annual salary, but the impact of turnover is far more than just monetary. Here’s what can happen when you hire the right people the first time. 

The role of Human Resources (HR) goes beyond scouting and onboarding talent, or at least it should to increase the department’s value. In today’s competitive job market, it is essential to maximize HR’s role by utilizing tools that help talent managers look within an existing talent pool to address their company’s evolving needs. Instead of HR departments operating solely as a cost-center, Human Resources should help create and save their organizations revenue by becoming profit centers. Plum’s Talent Assessment tool can help talent managers revitalize and evolve to keep up with your industry’s changing landscape.

A great deal of emphasis is put on Human Resource (HR) departments to hone in on recruiting practices that help identify and target desirable talent. Talent acquisition is a necessary investment to make sure your team is able to source reliable new hires, but with only 1 in 3 employees strongly agreeing that they belong at their organization, it’s essential that HR cater to their existing talent as well. In today’s employee’s market, retaining talent is crucial to avoid unnecessary turnover and keep your organization’s progress on track. Plum has launched a Talent Assessment Platform designed to help recruiters avoid such a crisis.

Finding the right talent to grow your business is an investment that ought to be measured thoroughly before moving forward. Hiring the wrong individuals can impact a business’s bottom line more than expected. In fact, an unfit hire can waste up to five times their annual salary before being dismissed. A business’s budget is not the only element strained by a poor hire. The consequences can include a frustrated workforce and a decrease in your company’s product quality as a result. It’s essential to your business’s bottom line to hire right the first time around.

Plum knows that when people flourish, business thrives. That’s why the revolutionary talent assessment platform uses predictive psychometric data to inform objective talent decisions, which means companies do not have to venture far to find new talent. Instead, organizations can look for untapped potential in their existing pool of employees. To support this thinking, Plum developed a single psychometric assessment able to empower you to mobilize your talent and invest in your current workforce.

Talent Acquisition and Management are among the most difficult aspects of running an organization, and they aren’t getting any easier. From concerns about shrinking talent pools and growing candidate expectations to the trend of frequent career shifts, companies have their hands full trying to juggle it all. It is therefore no surprise that an increasing number of companies are turning to tools, such as psychometric assessments, to provide their Human Resource departments with the assistance that they so desperately need.