CEB UPENDS RECRUITING PROCESS WITH CEB PRECISE FIT; IMPROVES APPLICANT QUALITY AS MUCH AS 20%
Employers Benefit from New Efficiencies While Candidates Enjoy a Better Brand Experience with Mobile Assessment Platform
Positive candidate experience drives improved hiring outcomes and reduces negative brand impact Tweet
ARLINGTON, Va., Sept. 8, 2016 – CEB (NYSE: CEB), a best practice insight and technology company, today announced the launch of CEB Precise Fit. This new high-volume recruiting solution combines a candidate-friendly mobile experience with industry-leading predictive analytics to deliver more than 20 percent improvement on applicant quality. CEB Precise Fit is the only assessment solution that was built expressly for the mobile platform and that offers the candidate real-time feedback during the process, helping them determine whether the job is a good fit. This results in a more positive brand experience for the candidate and a more qualified, higher-performing applicant for the employer.
The traditional hiring process is cumbersome for all involved. Recruiters have to sort through three times the applications they did just a few years ago and it takes them 26 days longer to make a hire than it did in 2010. Despite this, there’s been no real improvement in quality of hire. Candidates have their own challenges with the process – putting forth all of their effort upfront with limited knowledge of the day-to-day requirements of the position; not hearing back from an employer after submitting an application – which results in a negative recruitment experience. These experiences cost brands more than just great talent; they can directly impact the bottom line since one-in-five candidates who report a negative recruiting experience stop using or purchasing products from that brand.
“In the war for talent, the organizations that win will be those that are able to shorten time-to-hire and improve candidate quality while simultaneously providing a great experience for applicants,” said Jeff Facteau, director of product management, CEB. “CEB Precise Fit fulfills the needs of today’s recruiter and applicant by injecting transparency and real-time feedback into what has traditionally been the ‘black hole’ of recruiting.”
For example, in a traditional recruiting process for a big box retailer, thousands of candidates may complete applications for employment in a single month. Recruiters pour through resumes selecting a fraction of applicants to complete the assessment process, often without even communicating with those not chosen, leaving them disappointed, or worse, disgruntled. This series of events may be repeated again after the completion of the assessment process.
CEB Precise Fit is a better experience. By putting assessment at the front end of the hiring process and inviting candidates to determine if their interests and skills are aligned to the position, unqualified and uninterested candidates are more likely to opt-out, mitigating potential damage to the employer’s brand. Moreover, the candidates who do become employees after a positive recruiting experience exert 15 percent more discretionary effort and are 38 percent more likely to stay with the organization.
“Companies shouldn’t underestimate the impact of the recruiting process. Every interaction a candidate has with the company is an interaction with the brand,” added Facteau. “CEB Precise Fit is the only solution that can provide feedback to job candidates, which allows them to determine how much effort to put forth applying for a particular job. Ultimately, this creates a more positive overall interaction between candidate and organization, leading to better outcomes for both.”
CEB Precise Fit leverages proven psychometric and algorithmic assessments, and includes emerging technologies such as machine learning, to deliver optimal recruiting outcomes. Machine learning techniques create sophisticated algorithms that predict which job applications are most likely to lead to success in the role based on an organization’s success metrics. For instance, some organizations are focused on reducing attrition, while others want to ensure better performance. Including algorithmic assessments in the recruiting process can virtually eliminate the time required to identify quality candidates, with no additional effort on the part of the candidate.
CEB Precise Fit is the latest addition to CEB’s Talent Management portfolio, and advances the company's commitment to transform the way organizations identify, hire and develop talent. To learn more about CEB's talent management offerings, visit cebglobal.com/talent-management.
CEB is a best practice insight and technology company. In partnership with leading organizations around the globe, we develop innovative solutions to drive corporate performance. CEB equips leaders at more than 10,000 companies with the intelligence to effectively manage talent, customers, and operations. CEB is a trusted partner to nearly 90% of the Fortune 500 and FTSE 100, and more than 70% of the Dow Jones Asian Titans. More at cebglobal.com.