Talent Scorecards: 7 Reasons Top Employers Use Them
Top employers use a proven talent scorecard for every interview for the seven reasons listed below.
However not all employers use Talent Scorecards correctly and this is largely due to ineffective assessment criteria.
Their design typically isn’t mapped to successful work performance outcomes. Sometimes they’re used as an interview guide. Both errors have a high potential to cause inaccurate candidate assessment.
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Hiring mistakes are costly and typically amount to 30% of annual compensation. For senior employees it’s even higher. According to Harvard Business Review, organizations spend roughly 70% of their operating budgets on workforce expenses. A bad hire is simply money wasted, not to mention the human element suffered by their colleagues.
What is a Talent Scorecard?
A Talent Scorecard is a structured format used by everyone on the hiring team to accurately access candidate competency for a specific job. Ideally, This is a format that considers critical success factors for achieving top performance for the job being filled. These factors best fit into three categories and will have from three to four factors each for a total of 10 to 12 factors.
- 1Basic Competencies
- 2Core Competencies
- 3Situational Fit
Scorecard Format and Interview Defined
This scorecard format is DIFFERENT from a structured interview guide. They are two different things and should be.
The interview itself should be a “business discussion” to see if job is a good fit for the employer as well as the candidate. This means a two-way exchange of information with each side receiving meaningful input. In reality this is a buying and selling event and very much a human interaction. It should be as pleasant and rewarding as possible for both parties.
The employer is purchasing talent and the candidate is selling their talent for agreed upon compensation and terms.
The scorecard for the employer is the structured documentation of fit from the employer side of this event. I’d recommend that every candidate also have their own career assessment scorecard to evaluate their interest and fit for the job as well. The candidate scorecard is the subject of a different article.
Are You Making this Common Mistake With Talent Scorecards?
When researching this topic online you’ll often see recommendations for using a scorecard as an interview guide tied to specific questions and scoring criteria. This format recommends asking specific interview questions and scoring the candidate on a question-by-question basis. This leads to a stilted, unfriendly mechanical process. This ends up more like a one-sided interrogation and that’s not the desired human interaction outcome. Remember this should be a "business discussion".
A scorecard should be completed by every member of the hiring team as soon after the interview as possible. This doesn’t mean the interviewer can’t take a few notes during the interview if desired.
What Are the 7 Benefits of a Talent Scorecard?
Here is a list of some of the most important key benefits derived from using a talent scorecard.
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If you’re interested in seeing what a tried and proven talent scorecard looks like, book a discovery call with me and set up a time for a discussion using the link below and I’ll tell you how you can get a copy.
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