Unlocking Your Lost Profits: Lessons Learned from Conducting 162,000 Pre-Employment Assessments
With Workers’ Compensation costs through the roof in Australia and mental health claims doubling every 4 years, making the right hiring decisions isn't just about finding the most qualified candidate on paper; it's about ensuring the candidate aligns with organisational goals, values, and safety standards.
At FitWorker360, I've witnessed firsthand the transformative power of pre-employment assessments in revolutionising how organisations approach hiring and mitigate their risk of future costs to their business. With 162,000 assessments performed and experience working with Australia’s leading employers, we have learned a thing or two about saving our clients time and money. In addition to providing them with the confidence to make informed and data driven hiring decisions.
That's where FitWorker360's comprehensive 360-degree approach to pre-employment assessments comes into play, examining mental, behavioural, and physical aspects to provide a complete picture of a candidate's suitability.
At FitWorker360, we understand that hiring the wrong candidate can have profound implications for an organisation, both financially and operationally.
Here's why pre-employment assessments are indispensable for organisations looking to save money on rehiring, enhance safety protocols, and mitigate future workers' compensation claims.
- Reducing Staff Turnover Costs: High turnover rates can be a significant drain on resources for any organisation. The process of recruiting, hiring, and training new employees is not only time-consuming but also expensive. Pre-employment assessments can help identify candidates who not only possess the necessary skills and qualifications but also exhibit the right attitudes, behaviours, and cognitive abilities to thrive with your company. By selecting candidates who are the best fit from the outset, your organisation can significantly reduce turnover rates and the associated costs. Our clients typically see a reduction in turnover of 25 to 29% after implementing FitWorker360 for 3 years.
- Enhancing Workplace Safety: Workplace safety is paramount for any organisation, irrespective of industry or sector. Hiring individuals who are physically and mentally capable of performing their duties safely is essential for preventing accidents, injuries, and potential legal liabilities. FitWorker360's pre-employment assessments evaluate candidates' physical fitness, cognitive abilities, and behavioral traits to ensure they can safely carry out their job responsibilities. By screening out candidates who may pose a safety risk, you can create a safer work environment for employees while avoiding the financial repercussions of workplace incidents.
- Mitigating Workers' Compensation Claims: In my daily discussions with my clients, I see how Workers' compensation claims are profoundly affecting businesses and their bottom line. Ranging from medical expenses and lost productivity to legal fees and insurance premiums. By identifying candidates who are less likely to experience work-related injuries or illnesses, pre-employment assessments can help mitigate the risk of workers' compensation claims. Moreover, by assessing candidates' behavioral tendencies and stress management skills, organisations can proactively address potential sources of workplace stress or conflict, reducing the likelihood of future claims.
- Make data driven hiring decisions - In a landscape increasingly defined by data-driven decision-making, the reliance solely on face-to-face interviews for hiring purposes can be limiting. While interviews certainly provide valuable firsthand impressions, they often fall short of providing a comprehensive understanding of a candidate's potential fit within your organisation. This is where pre-employment assessments shine, offering a structured, objective means of evaluating candidates. By harnessing data-driven insights derived from assessments, we can supplement subjective impressions with concrete metrics and observations, resulting in more informed and equitable hiring decisions. The wealth of data generated by 162,000 assessments underscores the power of this approach, demonstrating that a holistic evaluation based on objective criteria yields more reliable outcomes than relying solely on subjective judgments you might get from an interview and a basic physical assessment.
- Improving Organisational Performance: Beyond cost savings, pre-employment assessments can also contribute to overall performance and productivity of a business. By aligning candidates' skills, attributes, and values with your organisation's culture and objectives, organizations can foster a more engaged, motivated, and cohesive workforce. Additionally, by identifying candidates with strong behavioural traits, adaptability, and resilience, our clients can better position their businesses to navigate challenges and seize opportunities in an ever-changing business environment.
So, there you have it, my hot take after 162,000 pre-employment assessments. What an invaluable tool for organisations seeking to optimise their hiring processes, enhance workplace safety, and minimise the financial risks associated with turnover and workers' compensation claims.
FitWorker360's comprehensive approach to pre-employment assessments, encompassing mental, behavioural, and physical dimensions, empowers organisations to make informed hiring decisions that drive long-term success and sustainability. By investing in the right talent from the outset, Australian businesses can position themselves for growth, mitigate risk of burgeoning insurance costs. To learn more about FitWorker360 download a free info pack here.
Guy Terkelsen - FitWorker360