Tough economic times necessitate tough economic decisions. Economic conditions that would have been disregarded or brushed under the carpet when the going was good assume much greater importance when cost cutting becomes the norm in order to ensure continued growth and in some cases survival. Nowhere is this more apparent than in the Human Resource hiring process.

It is often noticed that organizations have a number of systems, standards, procedures and policies in place that are geared to optimize the work environment, but the hiring process is not necessarily always that scientific and systematic.

Although things are beginning to change, more often than not, many organizations still depend on only traditional guides like résumés, references, interviews and background checks to get all the required information about potential employees. Although these procedures are important as part of the selection process, unfortunately, time and again, these methods have proved less effective than when assessments are added to the above hiring processes.
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Assessment tools are increasingly being used by organizations to evaluate their employees’ knowledge and skills, interests, values, personality, work ethic and work styles to ensure a proper fit not only in a particular job role but also within the organization’s culture. But how can you be sure assessments will be useful and cost-effective for your organization?

Companies can measure the Return on Investment (ROI) of employee assessments in many different ways, but the basic formula for any organization is relatively simple:

ROI (Percentage) = (Total Benefits - Total Costs) x 100 / Total Costs, where

Total Benefits include money saved by the company, capital generated, and everything else that adds to the bottom line, both directly and indirectly. For example, if the use of assessments during the hiring process reduces turnover, savings would include the cost of replacing an employee (potentially up to 150% of their annual wages) multiplied by the number of bad hires avoided.

Total Costs include development costs, loss of work time, materials required, administration and coordination costs, promotion costs, meals/ refreshments, and cost of job coverage. Online courses will include certain additional costs like pre-production, graphics, servers, post-production, web development costs. When using online assessment tools, these costs could be as low as a few hundred dollars or less per employee.
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Organizations the world over are recognizing the benefits of offering career development and coaching to their employees.

It’s a smart move–such organizations measure the results in terms of  (1) better employee retention (2) enhanced talent management (3) and higher visibility as “an employer of choice“.

Online self-assessment tools are easy-to-use and offer employees a better understanding of their strengths and weaknesses–opening them up to opportunities they might have otherwise overlooked with their current employer–which benefits both the employee and the employer.

Here are 3 essential online developmental career development and coaching tools that can help you identify strengths your employees are underutilizing–which could impact their career path based on their interests, values, skills, personality, and work styles.

3 Indispensable Career Development and Coaching Tools

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You can’t run a successful business without the right employees.

Whether you’re big or small — especially in the present business environment — even one “bad fit” employee can quickly grow into a seriously expensive mistake.  Fortunately, there are several excellent ways to soundly evaluate and judge a prospective new hire.

5 Steps to Avoid Costly and Preventable Hiring Mistakes in Your Organization

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The key to creating an effective workforce is to develop the top talent in your organization.

‘Employee development’ initiatives help employees work better and smarter, create greater employee loyalty, and boost your bottom-line.

To develop the key talent in our organization, follow these six steps.

6 Steps to Developing Key Talent in Your Organization:

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“The best way to be sure you have a lot to look forward to in life is to work to create a future you want to live in.” ~ Charlie Eitel

For real career success you need a plan.

I often hear the “statistic” that the average worker can expect to change careers seven times in a lifetime. While no such statistic actually exists, the truth is that you probably will change your job or career at least once or twice in your lifetime.

So ask yourself: are you really happy with what you are doing right now?

And if not, “Do you have a plan to become the best in your chosen career field?”

You’re competing in a dynamic global marketplace–and you cannot afford to stagnate.  Life is too short to continue doing something that makes you unhappy. To maintain your competitive edge and to pursue a career that makes you truly happy–you should follow these Three Essential Steps of Successful Career Planning.

The 3 Essential Steps of Successful Career Planning:

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