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BENCHMARKING
CASE STUDY
For twenty
years Axiometrics International has been measuring the thinking
and decision making process of people inside many of the biggest
companies in the world. Now our brand new Axiometric
Benchmarking represents a breakthrough in the benchmarking
field.
The lessons
we've learned from this research has allowed us to take our
already powerful technology to an even higher level. We’ve
learned that even though someone has the talent, attitude, drive
and energy to perform successfully for one company, that does
not mean they can perform successfully for the next company.
The good news
is we have discovered how to precisely measure the combination
of talent that it will take to perform in any company.
This
breakthrough means companies can hire with a greater sense of
confidence and trust than ever before. They will save a great
deal of time and money by lowering their turnover costs and
their cost per hire, just as HCCA, a division of Hospital
Corporation of America, is doing now.
The HCCA Case Study
In June 2005,
we began working with HCCA, one of the nation’s largest nurse
placement firms. We were charged with helping them in their
recruitment and selection process. More specifically, to improve
their hiring decisions and lower their turnover costs.
Through a
strategic partnership supported by the CEO and Executive Team,
we implemented our customizable benchmarking process. Our goal
was to help them hire and retain more of the right people and to
alert them to the possibility of making a bad hire.
The Problem...
This nurse
placement firm was spending millions of dollars to find,
interview, hire, and train nurses from around the world. After
going through an exhaustive interview and hiring process, they
spent even more money to move these nurses to the United States
and provide them a place to live. What HCCA
discovered was that finding nurses is the easy part - finding
the right nurses to bring in to the U.S. is not so easy.
Here is why …
Many of the
potential hires sail through the interview process. They have
adequate skills and quality references. But many have attitude
problems and other issues that are not easily detected in an
interview.
After the
hiring and training process, many of these nurses would either
return to their native country, get fired for low performance,
or had attitudes that caused problems. Obviously, losing a high
percentage of nurses in this way is very expensive for the
company. Not only does it affect their bottom line, but their
reputation as well.
The HCCA Study …
More than 100
nurses, ranked as high, medium and low performers participated
in this Axiometric Benchmarking study. Following this rollout,
we asked HCCA for specific feedback to better understand the
ultimate value of our benchmark study, assessment tools, and
custom interview guides. More specifically we asked for feedback
on accuracy and effectiveness in their key problem areas; cost
per hire, turnover, customer satisfaction, nurses being fired
and or leaving early.
The Results …
In a six month
period, hiring over 50 nurses per month, our Benchmark Study and
subsequent customized Assessment Reports resulted in a 28%
reduction in HCCA's cost per hire.
HCCA reported
to us that during just one six month period, by using our
benchmarked reports, they eliminated approximately 100 bad
hires. Every bad hire eliminated saved HCCA (conservatively),
$50,000. They estimate that our Axiometric Benchmarking process
resulted in a savings of several million dollars.
Considering
that every company has a different cost per hire figure - what
might we save for your company?
"After
receiving and utilizing the new report that we have now adopted
worldwide in our recruitment and selection process, we want to
thank you for your expertise and patience as you developed a
customized tool that meets our needs so well...
We
especially appreciated your positive approach, flexibility and
determination which did not waver throughout the process... We
have every confidence that we will be making wiser hiring
decisions throughout our network."
~ Joy
Roark, Director of Client Services, HCCA, formerly a Division of
Hospital Corporation of America
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