Higher ROI on Talent Selection

Talent selection is a pivotal component of your talent strategy. Advanced, cost-effective tools and methodologies like Elev8's reliable, valid psychometrics and interview approaches help capture the ability of a recruitment candidate to perform in a given position. Our goal is to enhance your hiring practices, so you can effectively fill openings with talent that elevates your existing team and operations. You can use the tool below to help you calculate your return on investment using Elev8's tools.

We have provided the following guidance to help you use our online calculator. The following is required from your current recruitment process. It is preferred you calculate this for one job role, although could do this for multiple job roles.

1. Enter the number of Employees you are planning to hire in the coming year.
2. Cost of hiring / replacing an employee typically ranges between 10% and 30%. This can include direct costs such as cost to advertise and cost to train them, and indirect costs such as lost productivity, etc. This includes voluntary or involuntary employee turnover.
3. Enter the level of job complexity for the jobs you have in mind to hire for. Examples for each level have been provided to help you:
   1. Low complexity = routine, blue-collar jobs such as welders, or clerical jobs such as grocery checkout operators.
   2. Medium complexity = craftsmen e.g. chefs or repairmen, or clerical roles with some decision making responsibilities e.g. claims evaluators, or sales travel agents
   3. High complexity = jobs with complex decision making responsibilities which may range from software sales representative, insurance agent, lawyer, to doctor.
4. Enter the current average time to hire for this position or positions in days.
5. Enter the current average salary per year in USD for this position or positions.
6. Estimate what the average productivity is for an average performer in USD. For instance, what is average sales your sales representative makes in a year.
7. Select from the dropdown the current, primary method for recruitment of this position or positions. Average predictive validities are provided based on 100 plus years of research (Schmidt, 2016).
8. Select your future, preferred recruitment approach. Research has found that combining assessments such as the use of a cognitive ability test and a structured interview improves your ability to predict performance.
9. Type in how many days you would like to hire within. Recent research shows that top talent can be off the market within 10 days. Use of psychometrics like those of Elev8 Assessments can help you screen candidates much faster. Enter a value that is less than what you are currently averaging.