Questionmark Shows How Poor Decision-Making Harms Business in a New Report
Questionmark, the leading provider of enterprise-grade assessment software, has released a new report revealing the most common errors that contribute to poor decision making across organizations.
Do you worry that you’ve made bad hiring decisions? Ever suspect that your team doesn’t have the skills they need to do the job? Do you have a niggling concern that people you work with are making errors of judgment?
If your answer to any of the above is ‘yes’ then you’re not alone. The report highlights seven of the most common errors that undermine decision making in the workplace.
HR Technology News: Walmart Gets New Chief People Officer
Hiring decisions: eight out of ten hirers admit to having made bad recruitment decisions, and 39% of them noticed the error within the first two weeks of the new employee starting work.1
Staff turnover: high staff turnover leads to a loss of knowledge and revenue – yet 93% of employees would stay at a company longer if it invested in their careers.2
Staff training: companies that offer comprehensive training programmes have a 24% higher profit margin than those that don’t, according to a study by the Association for Talent Development.3
Errors of judgment: analysis of accidents and incidents shows that human failure contributes to almost all workplace accidents in the USA.4
Compliance awareness: only 29% of organizations report that they assess the compliance proficiencies and skills of their staff on an ongoing basis.5
Business skills: as technology evolves, 70% of employees fall behind on the skills they need to do their jobs.
HR Technology News: Mental Health Tech Pioneer XenZone Announces Tim Barker as CEO
Interpersonal skills: 44% of executives said a lack of soft skills was the biggest proficiency gap they saw in the US job market.7
The Questionmark report explores how organizations that are serious about getting the best out of their people and process need to be serious about assessment. That way employers and employees can learn, adapt, and improve the decisions that matter the most.
John Kleeman, executive director and founder, Questionmark, says: “Good decisions mean better performance and higher productivity. Conversely, without good decisions productivity can be harmed. Performance is weaker and higher costs can combine with higher risks.
“We help ensure these critical decisions are based on valid, reliable, fair and defensible assessments. This is particularly important in areas of regulated activity where the cost of compliance failure is high.”
Staff assessments make a real and lasting difference to an organization’s performance. Studies show that after introducing assessments, 58% of companies see an increase in employee retention, 58% in productivity and 60% in customer satisfaction
HR Technology News: Businesses Consider Cybersecurity as an Afterthought Despite Growth in Attacks, EY Survey Finds