¿Why do effective selection processes increase a company’s value?

by | Sep 29, 2023 | Staffing | 0 comments

Over the years, workplace dynamics have undergone significant changes. While these changes may not be immediately evident, we are witnessing the gradual disappearance of the baby boomer mindset, where work took precedence above all else, and leisure was seen as frustrating and undesirable. Instead, we are entering a new era of the workforce that primarily values the benefits they can find in their workplace, the opportunities for training and learning they gain in their day-to-day activities, and ultimately, technology-mediated communication.
Companies must take these shifts in the labor landscape into account, as it will help them evolve their organizational policies and provide a more accommodating adaptation to the preferences of today’s employees.
But why are selection processes so crucial for companies? This question is relevant because companies that understand the value of their personnel are generally the ones with a visible projection and growth within their economic sectors. Some of the benefits of successful selection processes include:

Cost reduction:

Hiring someone hastily for a specific position can have a high cost in terms of time and money for the company. A robust selection process aligned with the company’s organizational strategy not only minimizes this risk but also ensures that suitable candidates are chosen, thereby avoiding the loss of valuable resources and potential future issues.

Improved retention:

Successful selection processes are meticulous as they seek candidates with skills and competencies that fit the company’s culture. This focus on cultural fit has a significant impact on employee motivation, making them feel intrinsically valued within the organization. This, in turn, allows them to share and embrace the prevailing values in the company, increasing the likelihood of them staying in their roles long-term.

Company positioning:

Having a highly skilled team aligned with the company’s strategy strengthens key processes, facilitating growth in the sector in which the company operates.
We’ve just explored the benefits of effective selection processes and why it is essential for companies to adapt these processes to the new generations of employees emerging every day.

At Innobo, we contribute to making that match between new generations of employees and companies easier.

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