Did you know that 63% of the candidates fail in their jobs within the first year despite having brilliant skillset? We all know that the cost of a wrong hire is very high (as much as 3 times their annual salary). Wrong hires also bring a ripple of negativity that affects the employee morale which in turn damages the organizational culture and impacts the business. Therefore, it is important to understand why candidates with the right or even high degree of requisite skills fail at their jobs.
Importance of MindMatch
The study by Leadership IQ found that the failure due to lack of technical skills is just 11% while that due to inability to take feedback is 26% and lack of motivation to excel is 17%. It is a clear indicator that Temperament, Attitude, Emotional intelligence and Interpersonal skills (other 46%) are more important to success than just the hard technical skills.
Training for technical skills is easy but it is not possible to train for enthusiasm, work ethic, adaptability, honesty, commitment, trustworthiness and accountability. It comes with a person’s inherent attitude. Therefore, MindMatch of the candidate with the job profile is a good predictor of success in any given role. MindMatch helps you discover these human only attributes and match them with the job role.
Organizations gain following benefits when they hire candidates with MindMatch
- Motivated and Better Performing Individuals: Discovering a person’s motivations is more important if you wish to have the right hire for the right job. It is noteworthy every person is motivated by different things that range from New technology, Job role, Tile and responsibility, freedom to work, Money or work-life balance etc. MindMatch unravels these deepest motivations and helps organizations to find the right person for the right job.
- Right Person for the Right Job: Avoids the “Round peg in a square hole” situation. Skills assessment tells if a person can do their job, but how will they do it, their productivity and performance depends on their motivations, passions, characteristics and values. If the new hire is a cultural misfit or does not like what they are doing, he or she would never succeed in an organization. If you hired an analyst who enjoys being with people more than data interpretation and creating reports, it’s a better chance that he or she might succeed more in the customer service area. Such a person in the role of an analyst would be a subpar performer even with the right skillset.
- Increased positivity and happiness: Depression, anxiety and other mental illnesses due to unsatisfactory jobs or unhappy work culture is at its peak all over. Although organizations are taking several measures to improve this situation, the results are average at best.