Innovation in Predictive Talent Selection™
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Innovation in Predictive Talent Selection™
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- Thanks and welcome to todays webinar on Chequed.com release of our version 5 Predictive Talent Selection Suite.Many of you on the call today are current clients of Chequed.com who may be using one of the modules we will look at. Some of you are not users and just here to see what’s happening with the latest in HR technology. Either way, we are glad you are taking some time out of your day to join us today.We know most of you have attended webinars in the past and this is sort of like listening how to fasten your seat belt on an airplane now, but let me just quickly hit some administrative stuff first.We want your questions and and want this to be as interactive as possible. Please go ahead and ask those questions as you think of them. Just use the Questions section on your GTM panel on your screen. We will get to as many as possible at the end of the webinar today. But don’t wait until the end to ask them … just type them in as we go.At the end of the webinar you will be asked to complete a very brief survey when you close your GTM panel. Please take a moment and complete that survey as your feedback is really important to us.And remember that you are all on mute. No matter how loud you yell, we wont here you. So, use the question interface.That’s it for the does and donts. Now lets talk about
- Here is the problem. When you look at the way most screening processes are actually conducted today, they simply are not very reliable. HR departments do their best to design processes for hiring managers to follow but once these processes make it into the field, it tends to denigrate quickly. And the results is a process that looks something like …1.) A quick review of a bunch of resumes2.) A series of brief phone screenings to determine whether the person sounds like a normal functioning human and knows how to affirm what their resume said they did3.) A bunch of completely unstructured, unprepared interviews with a hiring manager or 2 that focus mostly around hard skills and trying to determine whether they like the person or not, and4.) A phone call to some references, most of which go unreturned. The ones who do return your calls answer some superficial questions and the “reference check” box is checked and offer extended.The core problem is the process is totally linear, focusing on moving a candidate through a series of events, rather than focusing on what is occurring during those events. If you use an assessment today, how much are you leveraging that information to structure a set of interview questions based on the red flags identified during that assessment. How about taking the data gathered from the interview and applying that to the reference check to really target the questions asked of the references based on that information and the info from the assessment as well? The data collected, to the extent that there is value in it, goes unleveraged.Our version 5 release is about making your screening process a living, dynamic series of events designed to fully leverage the data being collected at each step and compounding the effect it has throughout the process. Our IO team calls this “incremental predictability”, but we call it a way to reduce your time to hire while simultaneously increasing your quality of hire. In order to make this possible, we need to focus on the quality of data being collected however.
- Many screening processes confuse the number of steps or people involved in making a hire, with the quality of that process. We sometimes think that if we make our process complex and add more eyeballs that we are somehow increasing our odds of success. While there is some truth to this … more people can help and more well designed steps are a good thing, we need to focus on the quality of the data that we are collecting because its not all equal.The reality is that much of the data we are collecting in a screening process, if its unplanned and unstructured, can actually mislead and misguide our decision making. We hear examples of this constantly when someone tells us about their “silver bullet” question or that they only hire candidates from one school or sport. It sounds crazy, but you know its happening everyday in the field.The need to focus on collecting good screening data. And by “good” I mean that it helps to predict job success. Again, if you want an example of bad data, think of what we collect from an assessment that is measuring against an old benchmark or an unstructured interview that is really nothing more than a rambling set of questions on past jobs or the reference check that lacks any candor or job relevance.Chequed.com is about changing the nature of candidate screening by putting clearly and objectively designing the target candidate profile and then measuring with rigor against this profile at each step.
- The Chequed.com Predictive Talent Selection Suite is actually a series of 5 distinct screening modules, now fully integrated in a way that has never been done before and creating a breakthrough in predictive capability of the hiring process.We will take a look at the modules individually in just a minute, but let me explain the methodology …At the center is ChequedProfile, a library of over 1100 pre-defined and customizable job benchmarks. If you can name the job, chances are its in there. And each is able to be fit to your company and culture and job specifics. It allows you to really focus on the competencies and traits that are critical for success at your jobs in your company. For larger companies with large amounts of hiring in key positions, our professional services team can also custom build a series of competency profiles as well.Once the ChequedProfile is identified, the first step is the assessment. ChequedFit and ChequedCulture work together, at an early stage in the hiring process to identify both high potential and low potential candidates quickly and without any time wasted. This assessment is made against the ChequedProfile for each individual position.After the assessment is complete and your high potential candidates are identified, ChequedInterview delivers a structured, behavioral based and scorable interview guide to your managers. This ensures consistently and rigor in the interview process and is again targeted directly at that ChequedProfile.Lastly, when you get down to your finalists, ChequedReference, our predictive and automated reference checking technology delivers a high targeted, job relevant reference check driven by the candidate. Essentially, as it is measured against the same underlying ChequedProfile, it delivers a 90 second to 2 minute assessment to a series of references which further validate the data we have collected all along.Now contrast this process to the traditional, more manual process used by most companies with each step as a separate silo. The core principle at work here is a concept called incremental predictability …
- Unless you’re an armchair IO psychologist, this may be a new term for you. Incremental predictability really deals with the compounding effect of each step in a process and the impact that it has an the overall predictive capability of the process as a whole. It’s the 1+1=3 thing … by adding complimentary data at each step in the process, we actually get an exponential lift in the ability to predict outcomes. The key is making sure we are collecting good, relevant data. That’s why the version 5 release is so powerful. We reduce the time it takes to screen but also increase the quality of the data being collected at each step because its structured and job relevant.Again, important to contrast this concept to the traditional screening process where each step is a silo, the information collected basically ends at that steps and is not really used again in other steps. Also, the information tends to be unstructured and not particularly job relevant in many cases.So, lets take a look at each step in the process to give you a sense of how this works.
- First, its important to understand that we are talking about a series of modules that can be used in an integrated manner. Many clients however choose just one module, like ChequedFit to augment their current process. That’s fine. I bring that up so this doesn’t seem overwhelming here.The first step is to define the ideal hire and we do that with ChequedProfile. We look at those competencies, traits, personality characteristics and culture fit that really drive success in your positions at your company. This is not a generic benchmark, but is focused around each position.To get it deployed is simple …
- Our library has over 1100 unique pre-validated ChequedProfiles to choose from. For key positions, our professional services team can custom build profiles. Often our clients have a couple custom profiles built for really critical, high volume type positions and used the library for the rest. Everything is the library can be customized as well. Its pretty simple and fast to get up and running.
- Next, we assess using ChequedFit and ChequedCulture. These assessments work together or independently based on client preference. They are designed to be an early indicator of fit against the ChequedProfile to remove low potential candidates and tire-kickers and identify the high potentials very early in the process.
- We look at those competencies and traits critical for success as show how the candidate fits against each. It rolls this info into an overall score and provides a series of tools to make it very simple to understand such as an executive summary, business impact questions which as essentially follow up questions, and …
- We look at those competencies and traits critical for success as show how the candidate fits against each. It rolls this info into an overall score and provides a series of tools to make it very simple to understand such as an executive summary, business impact questions which as essentially follow up questions, and …
- Coaching and onboarding suggestions to understand how to get your new hire up and running as fast and effectively as possible. Again, the actual placement of the assessment is up to you but most of our clients tend to use it very early in the screening process, typically pre-phone screen.
- We look at those competencies and traits critical for success as show how the candidate fits against each. It rolls this info into an overall score and provides a series of tools to make it very simple to understand such as an executive summary, business impact questions which as essentially follow up questions, and …
- Once the assessment is complete and the high potentials are identified, ChequedInterview makes the previously difficult and unscalable, scalable and easy. We heard from so many of our clients that they were spending a ton of time and money on interviewing training for the managers in all the latest techniques, but managers were still going into interviews unprepared and not really putting the training into action.CI is designed to fix that problem but taking the assessment results and building a structured, behavioral interview specifically focused on those competencies and traits conducive to success from the ChequedProfile.
- A hiring manager just needs to ask the question and used the answer matrix to identify how to score the answer provided. Its that simple. Totally job relevant so your legal risk goes down and high focused so the quality of the interviews goes up.
- Now that you have identified your finalists, our first-of-its kind predictive reference checking technology called ChequedReference comes into play. If your not familiar with automated reference checking technology, it takes the traditional phone based interview process and turns it on its head.Version 5 takes builds on our previous versions and brings this new area of candidate selection to a whole new level. The candidate drives the process and adds their references. We typically recommend requesting a minimum of 5 but the actual minimum is up to you. Once the references are added, a request goes from the candidate to the reference. The reference completes a 90 second to 2 minute assessment focused on the same type of ChequedProfile used throughout the rest of the system. This means the results are predictive of job success.
- The reference completes the reference assessment about the candidate. The questions are structured, job relevant, assessment type questions which relate to an underlying benchmark selected specifically for this position and company. The questionaire takes roughly 2-3 minutes to complete.
- The outcome is a detailed reference report which compiles the data gathered from the reference. This report clearly shows the candidates strengths and weaknesses against the ChequedProfile, an executive summary, follow up questions, and other information focused on helping you and your managers make a better hiring decision.
- You can see what each reference said about the candidate and their fit to the job and the company. We show you this in the aggregate as an overall score and for each competency to give you a more granular view of the candidate.
- You can see each question asked of the references specifically, both from the assessment questions that we deliver and any questions that you would like to write as well.
- We also look for critical rehire information and dig into the likelihood a past manager would rehire this candidate at a past position.
- KEY VALUE POINTS –1.) Easy but powerful configuration options allow the system to function based on client desires2.) The science tells part of the story, the custom questions tell the restWe just discussed the power of the predictive science, but of course there are questions that you would like to ask of each reference that may be more skill related or just information that you or your hiring managers find critical.Another big differentiator for ChequedReference is the adaptibility around your business needs and goals. We built ChequedReference to adopt to your workflow, not force you to fit ours. There are many points in which ChequedReference can be easily configured, and this is a great example. For any position, you may write your own questions for a reference provider to answer in addition to the assessment type questions that we saw previously. These custom questions are written by you within the system when you create a position and can really be anything you wish to ask.We discussed earlier the optional confidentiality provided to references. Incidentally this is another example of that configurability. This screen shows the references with confidentiality turned on. If this option were disabled, you would see the reference names associated with their answers.TRANSITION ---In addition to writing your own custom questions, there is information that we know all hiring managers or HR want to have about a candidate. Whether a past employer would rehire them ranks at the top of that list.
- And we look at validity information to make sure that the references completing are who they claimed to be and that the reference check is legitimate.While we are talking about completion rates, an average of 80% of references complete within about 24 hours. The final report is generated once the minimum number of references are meet. All this for the total time spent by HR or a manager of about 30 seconds to invite the candidate.
- So, those are the main modules, but version 5 also extends beyond to really identify how the system and your screening process are performing.
- To do this, we look at a metric that we are developing called Return of Hire. This really seeks to measure the overall quality of hire in that timeframe that is most effected by the screening process, the first 90 days to 1 year, depending on the position.
- To measure RoH, we work with our clients to collect actual job performance data. In the early stage, before performance data is being collected, we can deliver a series of automated surveys to the hiring manager focused on the likelihood of rehire. We are looking for simple and consistent measures because the goal here is to make sure this process and especially the ChequedProfiles stay dynamic. As your company changes, so do the competencies required for the success of your people. By collecting and analyzing performance and rehire information, we can make sure your selection data is as dynamic as your company.
- Through our analytics module, you have real time access to what is happening across the platform and as a result, your screening process. You can view score distributions across various components of your screening process like the ChequedFit, ChequedInterview and ChequedReference.
- You can also see how candidate completion rates and reference completion rates to make sure the process is working efficiently.
- All of those analytics and the performance data getting collected are used to constantly optimize the selection process and make sure that the ChequedProfiles you are using reflect the real-world in your company so you can keep raising the bar on the level of hires you are making.
- That’s how we are redefining candidate selection, but there is one last thing and that is the impact of your recruitment brand and talent sourcing. The reality is that selecting better talent, faster and easier has an impact on the type of candidates you can attract to your company. We hear all the time the positive comments on the system, not only from clients but candidates and references as well! Its just a far better recruitment experience than candidates are used to and it impacts your sourcing.
- Our ChequedSourcing module is the first component of this. It ties directly into our CR module.Ask most recruiters what the top source of candidate pipeline is and many will tell you references. Think about this for a second. If you hiring a sales rep and ask a current candidate for references, who do you think they typically provide? Other sales reps, sales mgrs., sales support people, right? Well, we ask those references if they would like to be considered for career oppts at your organization. If they say yes, which over 70% do on average, they are added to your ChequedSourcing database and fully indexed with their profile information and a linkedin integration. It searchable and can be exported or integrated into a third party ATS.
- The impact of the recruitment brand is also evidenced again in CR with a fully customizable thank you screen. Once the reference completes, they can be delivered a robust thank you screen with your recruitment information, videos, feeds and anything else you would like to be displayed to drive those candidates back to your company and have them apply. Its all part of the system and is designed to leverage your screening process to continually feed your talent pipeline seamlessly.
- So that’s what the version 5 release of Chequed.com is all about. ChequedFit, ChequedInterview and ChequedReference being delivered as either a standalone or a fully integrated selection suite to raise your expectations of what hiring can be. The tradeoff between time to hire and quality of hire is gone. You can have both.
- A few examples include: Asurea Insurance services who saw 188% increase in first year sales revenue after implementing Chequed.com. Aspen Dental who reinvented their hiring process with Chequed.com. The case study on our website tells you how they increased applicant flow, greatly reduced turnover, and increased customer satisfaction with Chequed.com. The Learning Care group is another great example. Better known as Child Time, Tutor Time, or La Pettite Academy this company operates 1,100 pre-schools in 38 states. ChequedReference helped them reduce time spent reference checking by 90% and built a database of over 2,000 qualified teachers in the communities they serve in under 8 months.
- As I mentioned, it can be used per module or as an integrated suite. You can choose one module and then add more as you go as well. Our pricing however is always unlimited use so you can use it with as many candidates as you want. Its also able to be integrated into most applicant tracking systems
- So if you are interested and taking a full tour of the system and considering it for your company, simply click YES when asked on the survey whether you are interested in more information. A member of our sales team will connect with you can get it scheduled. Or you can also call or email us at the information on the screen.Either way, we hope to continue the conversation. Now, lets get to some questions.