From the course: Talent Management
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Assess existing talent
- Everyone wants to hire, promote and reward the best people. But nobody likes the idea of doing a talent assessment, until they understand how assessments can help the business achieve its goals. Organizations who use talent assessments, have a 75% year over year decrease in recruiting costs. They're 24% more likely to have a successor for each key position, and they achieve 2.5 times greater profits compared to organizations who don't use talent assessments. We use assessments to improve the quality of hiring, identify high potential employees, line up successors, and identify skill gaps that need to be addressed. It's common for companies to use assessments in hiring, but only 55% use assessments effectively for internal talent. Assessing internal talent, means that managers can put people in roles where they can have the greatest impact on their team's performance. Assessments also help identify how ready each…
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