ProspectHR MMI released a white paper for HR and recruitment specialists on the true cost of recruiting the wrong candidate.
Online PR News – 29-August-2022 – Hamilton, Ontario – When speaking at the White Paper launch, Craig Wood P.Eng., Chief Executive Officer, said, "The White Paper was researched and written in response to HR professionals and recruitment professionals seeking answers to one of their most pressing concerns: Hiring and recruiting the right candidate, the first time."
The White Paper begins by identifying that recruiting and hiring the right person is one of the most difficult and important tasks an organization undertakes. The paper backs that statement up with data:
In a recent survey more than three out of four senior managers admitted that they recruited the wrong candidate for a role and that it took 11 weeks on average before they realized the poor fit (1). And a survey by CareerBuilder in Canada found that a bad hire wastes 27 weeks of an organization's time, including an average of 7 weeks to hire a replacement (2). The negative consequences of a bad hire include the cost in wasted time recruiting, onboarding and training, decreased staff morale and productivity, and increased stress on supervisory staff.
The most pressing question the White Paper answers is how to avoid making the wrong hire. The key to successful hiring/recruiting? Putting into place an interview style that is proven to identify an applicant's soft skills including attributes such as ethical acumen, accountability, empathy, resilience, teamwork, and collaboration. The interview style suggested - A Multiple Mini Interview (MMI) and the virtual version of the MMI, the vMMI.
Readers of the White Paper were impressed with how much research had gone into the development and evaluation of the Multiple Mini Interview which demonstrated its reliability and validity.
The White Paper can be downloaded at no charge at https://www.prospecthrmmi.com/whitepaper