Bespoke Test Development, Consultation, Retention Case Study
Mindmill’s Retention Solution for a Global Engineering Design Company
Background
A global engineering design company faced significant challenges with employee retention and recruitment costs. The company incurred approximately £6,000 per employee in recruitment expenses, including visas, talent attraction, mobilisation, onboarding, relocation, and recruitment tools. Additionally, wasted salary amounted to about £9,000 per bad hire, with another £500 lost in training costs. An internal review revealed that 8% of a department’s staff were deemed a talent risk, leading to a potential waste of £120,000 for a single department.
Challenge
The primary challenge was to reduce the number of bad hires, which were contributing to high turnover rates and substantial financial losses. The company needed a solution that would ensure new hires were well-suited to their roles, aligned with the organisational culture, and possessed the necessary skills to quickly become productive and satisfied employees.
Solution
Mindmill implemented a comprehensive retention solution focused on reducing bad hires through role-based screening and selection. This approach involved several key steps:
- Role-Based Screening and Selection: Mindmill utilised advanced assessment tools to evaluate candidates’ suitability for specific roles. This included assessing technical skills, cultural fit, and the ability to learn quickly and adapt to new environments.
- Competency Framework Evaluation: Mindmill worked closely with the client to evaluate and adjust their competency frameworks. This ensured that the recruitment model was aligned with the various job requirements and organisational goals.
- Blended Assessments: The use of blended assessments, combining psychometric tests, situational judgement tests, and technical evaluations, provided a holistic view of each candidate’s potential.
- Tailored Recruitment Processes: Mindmill tailored the recruitment processes to match the specific needs of the engineering design company, ensuring that the right candidates were selected for the right roles.
- Competency Evaluation and Gap Analysis: Retention was further improved by evaluating both new and current incumbents against the established competencies. This allowed for a detailed gap analysis, identifying areas where employees needed development.
- Tailored Personal Development Plans (PDPs): Based on the gap analysis, tailored Personal Development Plans (PDPs) were created for each employee. These PDPs focused on addressing specific skill gaps and enhancing employees’ strengths, ensuring continuous professional growth and alignment with organisational goals.
Outcome
The implementation of Mindmill’s retention solution led to a significant reduction in bad hires, bringing the percentage down to 0% the following year. This had several positive outcomes for the company:
- Cost Savings: The reduction in bad hires resulted in substantial cost savings, eliminating the potential waste of £120,000 in the identified department.
- Improved Retention: Employees who were well-suited to their roles, aligned with the company culture, and equipped with the necessary skills were more likely to stay longer, improving overall retention rates.
- Increased Productivity: New hires who fit well within the organisation and learned quickly became productive faster, contributing positively to the company’s performance.
- Enhanced Employee Satisfaction: Employees who felt they were a good fit for their roles and the company culture were happier and more engaged, leading to higher job satisfaction and morale.
By aligning the recruitment model with job requirements and organisational goals, and by continuously evaluating and developing employees, Mindmill’s solution not only reduced the number of bad hires but also enhanced the overall effectiveness of the company’s recruitment and retention strategies.
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