Introduction
While behavioural and competency-based assessments can be a valuable investment for sports facilities, it’s important to measure their return on investment (ROI). By tracking key performance indicators, you can demonstrate the effectiveness of these assessments and justify their continued use.
Key Metrics to Measure
- Employee Turnover: Track employee turnover rates before and after implementing behavioural and competency-based assessments.
- Time-to-Fill: Measure the time it takes to fill open positions after implementing assessments.
- Employee Performance: Evaluate employee performance metrics, such as productivity, quality of work, and customer satisfaction.
- Team Effectiveness: Assess team cohesion, collaboration, and performance.
- Cost Savings: Calculate the cost savings associated with reduced turnover and improved employee performance.
Data Collection and Analysis
To measure the ROI of your behavioral and competency-based assessments, collect data from various sources, such as HR records, performance reviews, and employee surveys. Analyze this data to identify trends and patterns.
Challenges and Considerations
- Correlation vs. Causation: It’s important to distinguish between correlation and causation when analyzing data.
- Long-Term Effects: The ROI of assessments may not be immediately apparent, and it may take time to see results.
- Data Quality: Ensure that the data you collect is accurate and reliable.
Conclusion
By measuring the ROI of your behavioural and competency-based assessments, you can demonstrate their effectiveness and justify their continued use. By tracking key performance indicators and analyzing data, you can make informed decisions about your talent acquisition and development strategies.
Let TBPM help you measure the ROI of your behavioural and competency-based assessments.
Contact us today to learn more about our services.
