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How Rosewood Reduced Hiring Costs 80% and Improved Quality of Hire

How Rosewood Reduced Hiring Costs 80% and Improved Quality of Hire

http://info.profilesinternational.com/profiles-employee-assessment-blog/bid/72096/How-Rosewood-Reduced-Hiring-Costs-80-and-Improved-Quality-of-Hire

A rose by any other name does not smell as sweet, because a name like Rosewood Hotels and Resorts demands a flawless reputation. Rosewood Hotels and Resorts is a premier manager of ultra-luxury properties worldwide. Their reputation precedes them, and maintaining that stellar reputation is a priority for the company. Learn how they reduced hiring costs and improved quality of hire.

When luxury comes with the name, it is important to identify and hire high-potential employees and managers. Rosewood Hotels and Resorts is an impeccable example of a company that understands the type of employees they are looking for and how to find them.

The purpose of business is to generate revenue, but in order for the business to be profitable the employees must be productive. Appropriate job fit is essential for employees and managers to be high-achievers. The majority of hiring and placement is done by managers or executives who have "gut feelings" about where people fit, but those placements often lead to impulse hiring, unforeseen training costs and high turnover rates.

Assessments can be used to identify high-potential employees and managers. The assessments provide information about the individual's behaviors and personality relative to the work environment. Assessments are customizable to develop job match patterns and top performance models as classified by company, position, manager and geography.

A company such as Rosewood Hotels and Resorts holds high expectations for its employees and managers, and assessments have enabled them to exceed those expectations.

After the implementation of assessments the company's recruiting expenses per new hire decreased by almost 80 percent. The average cost for a good selection is around $3,600 versus $5,200 for someone less appropriate for the position. Rosewood further proves that better matched employees cost less to hire and train, and ultimately stay with the company longer.

The information provided by the assessments has allowed them to customize their management style for each employee instead of generalizing how they manage their employees. They are able to identify their high-potential employees and managers at the initial hiring phase.

Rosewood is not unique in their need for top performers. Reduced turnover rates and reduced spending for better hiring should be a long-term goal for most, if not all, organizations. Assessments enhance hiring and selection processes by providing a greater amount of information that may not have been discovered in a typical interview.

Job patterns are created by averaging the scores of top performers from a specific position. This average is then used to create a range that an applicant should identify with if they are a good match for the job. This helps to simplify the search for high-potential employees, as those that are most qualified will hold a similar score to those in the same position.

Managers across the board encounter difficult selection and organization decisions. Assessments are a tool that can be used to clarify and solidify placement decisions. They provide the best possible insight for those seeking deeper information about employees.

Assessments can be used in the hiring or development processes. Companies who were forced to reduce the number of their employees during the economic downturn can utilize these tools to help them discover where their remaining employees will have the likelihood of succeeding.

Placement of people is crucial for the productivity and potential of businesses. Identifying high potential employees and managers is possible with the integration of assessments. Companies do not have to settle for mediocre employees, they can consistently hire and develop top performers. Assessments can reveal where employees will thrive, and thriving employees will create a thriving business.

You can download the full case study by clicking on this link. Rosewood Hotels Case Study