How banks manage risk to create competitive advantage and higher productivity through their most important asset – their people

Hiring Risk Management System ties business outcomes to hiring decisions and gives your organization the ability to develop QUANTIFIABLE metrics around: hiring process, efficiency, cost per hire, workforce performance, and talent measurement

Introduction

Banks invest significant time and money to acquire talent. Every time a company extends an offer; it needs to answer a few critical questions such as:

• “If we hire this person will the person be able to perform the job and to what level of excellence?”
• “If I hire this person will the person stay in the job long enough to justify the costs that are associated with hiring and training the person” (i.e., Does my company offer what this person is looking for in terms of his psychological, sociological and demographic needs?)

Most of these decisions are taken typically through a nebulous process of unstructured interviews utilizing information about the candidate that is confined to a resume (not necessarily an unbiased or accurate representation of the individual) and the recruiters or managers interpretation of “right” talent, with scope for bias exposing the organization to significant hiring risks.

Read the full article at: www.globalbankingandfinance.com