Access to qualified personnel is one of the most important factors of enduring success in business. According to the 2019 PwC Global CEO Survey, 77% of CEOs consider the lack of employees with key skills to be the biggest threat to their business.
Studies show that filling job vacancies by internal promotion is significantly more effective than external recruitment: it takes an average of three years for a newly recruited employee to become as successful as an internally promoted one (source: Matthew Bidwell, Staffing Analytics 2019, Wharton University).
By employing data models, prestada can objectively determine the characteristics of high potentials within your organization, enabling you to discover and foster hidden talent as early as possible.
Digital recruiting employs a multitude of KPIs to measure the duration, cost and quality of the recruiting process: time-to-fill, time-to-interview, percentage of unfilled vacancies after x days, cost-per-hire, cost-per-application, cost-of-vacancy, recruitment channel efficiency, offer rate, offer accept rate, rate of approval by department, rate of candidate approval, retention rate, hit rate active sourcing, etc.
prestada helps you cut through the data jungle and see what is really important in recruitment. We reveal meaningful connections between KPIs and provide insights into cause-effect patterns based on in-depth analyses. We help you understand why one recruitment channel performs better than another and why departments and candidates do or do not approve of the recruitment process. These insights allow you to optimize your management of the recruitment process.
How can I tell whether a candidate will be successful? What skills are really indispensable for this position? What diagnostic instruments should I employ in order to make the right choices?
Our success model enables you to determine, in a mathematically reliable way, the job-specific success factors for candidates within your organization.
At the same time, it helps you optimize your diagnostic processes in order to make better employee selection decisions – thereby leveraging one of the biggest factors for long-term success of your business.
In one of our projects involving the optimization of a selection process, we were able to show that candidates who passed our optimized process were up to 50% more productive than candidates who had passed the original selection process. You can find more details on our success model in the section “Case Studies”.
Knowing today how many employees you will need tomorrow allows you to face the future with confidence.
Companies that use Strategic Workforce Planning gain a significant competitive advantage. SWP systematically combines business strategy and personnel planning. With SWP, businesses can reach their strategic goals because they know their future staff requirements – how many employees they will need on which positions and with which skill sets.
Yet many companies that use SWP do not take advantage of its full potential.
For example, most companies rely on simple linear extrapolations from historic data in order to predict the future. Only very few companies harness the power of more complex statistical methods for the prediction of future trends.
At prestada, all our consultants possess extensive experience in the application of SWP in businesses as well as a thorough command of statistical methods. We can help you leverage the full potential of Strategic Workforce Planning in your company.
Competency Management is based on the idea that both the organization and employees themselves should be able to control and develop competencies. The organization manages the organizational competency portfolio, while each employee manages their own personal one.
On the basis of our expertise in HR diagnostics, organizational development and statistical methods we can help you optimize the way competencies are managed within your organization.
One important area of application for Competency Management is digitalization. We can help you answer the following questions for your business:
When it comes to employee performance and retention, characteristics of the organization turn out to be just as important as individual personality traits and skills.
In 2016, a much-cited study from Stanford University (Goldberg, Srivastava, Manian and Potts) investigated cultural fit and its development over time. The proposed model of changing cultural fit was able to
What HR practitioners have known for a long time has now finally been empirically proven: cultural fit plays an essential role in the performance and retention of employees within a company. A change in cultural fit may even be an indicator of an employee’s intention to leave the company.
prestada helps you reduce the risk of unwanted attrition by checking your candidates’ cultural fit and capacity to adapt to your corporate culture before you hire them.
Employees don’t quit jobs. Employees quit on their superiors.
The influence of leadership behavior on employee motivation, performance and retention has received a lot of attention, particularly since Google’s Project Oxygen study of 2008.
At prestada, we have been investigating leadership for many years. For example, in one of our studies we were able to provide empirical evidence for a strong connection between leadership behavior and attrition.
Take advantage of our extensive experience in exploring and optimizing leadership behavior in your organization!
prestada combines methods and know-how from the social sciences, such as cultural analysis and organizational theories, with extensive experience in empirical research.
We examine the key drivers of employee satisfaction and engagement in your organization and relate them to other factors such as leadership behavior, customer satisfaction and performance data.
The following numbers will show you why employee satisfaction is really important:
correlation between individual performance and individual job satisfaction
correlation between business-level job satisfaction and customer satisfaction
correlation between (low) business-level satisfaction and attrition
correlation between business-level job satisfaction and profitability
correlation between Aspirin and reduced heart attack
correlation between Ibuprofen and pain relief
correlation between sleeping pills and improved sleep
(Sources: Harter, Schmidt & Hayes 2002 in Journal of Applied Psychology and Judge, Thoresen, Bono and Patton 2001, Psychological Bulletin)
Make the team stay on the court.
Instead of evaluating employees’ individual performance, increasing attention is given to measuring team performance. This is due to the fact that individual performance depends heavily on the team. A study of more than a thousand stock analysts from 78 US investment banks showed that when “star” analysts switched to another bank, their individual performance decreased by an average of 46% in the first year after the change of employer.
The new trend in Performance Management is to find indicators for individual contributions to team performance. This puts the focus on unselfish behavior that serves the team as a whole. In the future, performance indicators will be measured on the level of individual behavior and group performance instead of focusing exclusively on individual performance.
prestada helps you identify and measure those performance indicators that are decisive for each team as well the organization as a whole.
Unwanted attrition and absenteeism are among the highest cost factors for businesses. Credit Suisse found out that reducing unwanted attrition by just 1% may lead to cost savings between 75 and 100 million Euros per year.
Data analyses can be used to determine which factors increase the risk of attrition, what stages employees go through in the process of separating from a company and how to recognize warning signals.
Your CEO is worried that a lack of cross-department communication in your company might lead to reduced flexibility and slower reaction to changes in the market environment. How can you find out if these worries are justified?
By means of a statistical network analysis we can help you check the efficiency of internal communication and identify individuals who serve as bridge heads (so-called “brokers”) for the flow of information between departments.