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Talent assessments to retain employees rise by 114%: Report

Press Trust of India  |  Mumbai 

Shortage of skilled manpower has forced companies to focus on attracting and retaining best talents, and in turn has led to rise in talent assessments by 114 per cent from 2016 to 2017, according to a report.

Another reason for increased assessment adoption was the cost that companies were paying for every bad hire, online talent measurement solution provider said in its report.

Organisations are adopting innovative ways and to attract, assess, and retain quality talent, with tools registering the maximum increase in application, at 219 per cent, compared with others like cognitive (34 per cent), domain (76 per cent), technical multiple choice questions (105 per cent) and psychometric (49 per cent), the report revealed.

Adoption of and remote proctoring also grew significantly by 231 per cent last year.

"While most organisations continue to face a scarcity of talent, the demand for high-quality skilled talent is constantly rising. I have seen the uptick in the number of assessments across various degrees only in the last two years," said Ketan Kapoor, co-founder and chief executive officer,

The report estimated the increase in the use of talent assessments by 114 per cent from 2016 to 2017.

In terms of sectors, banking, financial services, and insurance (BFSI) saw the maximum growth for assessments, at 217 per cent, followed by consulting at 157 per cent, at 132 per cent, among others, the report said.

analysed its proprietary database of over 1.7 million candidates who gave talent assessments as a part of hiring and learning and development processes during 2016-17 for the research.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 18:25 IST