Webinar: Who Owns the Budget for Staffing Waste? The Economics of Hiring Smarter


August 16, 2017


2:00PM - 3:00PM EST



CPE Credits: 1

Field of Study: Personnel/HR

Hosted by The CFO Alliance

Cost: Free

Registration for this event is closed.

Register for The CFO Alliance webinar on The Economics of Hiring Smarter at the following link:

Staffing is a process with a yield to manage.   This webinar will shine a light on three value streams where staffing process improvement can document return on investment: waste, efficiency, and productivity.

Every bad hire creates waste and then rework. New hires that quit or are separated in 90 to 120 days create significant downward pressure on the P&L. Knowing the cost of that waste can help prioritize the scope of the solution. The administrative burden of managing candidate flow shows up in direct labor costs for the talent acquisition team and sorting, evaluating and interviewing impacts timelines and days of vacancy.  Reducing time spend and effort with poor-fit candidates can fill vacancies quicker.  And most important of all is new hire productivity.  You hired your best and worst using the same decision making process. New hires who get up to speed quickly and achieve their performance targets reduce time and cost to proficiency.  All three of these value streams can be measured, managed and improved. 

Quality of hire is driven by quality of hiring data.  Organizations who use objective candidate evaluation methods, such as pre-employment assessments, equip their recruiters with data to hire smarter, compare and contrast candidates based upon predictive analytics, and leverage data to document return on investment.

Attending this webinar will provide you tools and practices for taking control of staffing waste.


  1. Evaluating your current staffing process measurement discipline through three metrics
    • Candidates to offer ratios
    • 90-day turnover and time/cost to proficiency
    • New hire performance variation (Pareto analysis)
  2. Calculating the cost of staffing waste and rework
    • Candidate acquisition
    • Candidate evaluation
    • On-boarding and assimilation
    • Training
  3. Documenting new hire performance with the Three Os of Quality of Hire
    • Opinions
    • Observed behaviors
    • Objective metrics
  4. Exploring the role of pre-employment assessment in optimizing recruiting outcomes
    • Contemporary practices
    • Trends in the use of assessments
    • Challenges for SMB organizations in using assessments

About Our SME and Presenter

Joseph P. Murphy is vice president and co-founder of Shaker, creators of Virtual Job Tryout® technology.  Shaker employs one of the largest teams of Ph. D level selection scientists solely devoted to talent analytics, predictive hiring models, and recruiting metrics.  He has a passion for demonstrating how the evidence-based hiring methodology can deliver a superior candidate experience and measureable business results.

Joe’s career spans more than three decades and includes his holding positions from human resources executive to external consultant. He learned early the value of building a strong case to demonstrate measurable business impact when competing for budget and resources. Joe has designed methods and tools to help clients employ metrics and talent analytics to build sound business cases and document return on investment.

Joe has contributed to the creation of a culture at Shaker that attracts and retains exceptionally talented professionals with intellectual curiosity and enthusiasm for innovation in selection science, talent analytics, and improving the candidate experience. Joe has served as a board member and leader in volunteer roles with notable non-profit organizations such as The Talent Board, the Employment Management Association (EMA), The Society for Human Resource Management (SHRM), and the Human Resources Planning Society (HRPS) that serve the talent acquisition and human resources professions.

Joe is a published author and has been a contributor to the Candidate Experience Awards research findings and articles in a variety of professional publications. A sought-after speaker, Joe has presented seminars and webcasts on quality of hire, staffing process improvement, and staffing metrics at global, national, and local conferences.

Related Discussions

This event is part of the CFO Discussion: Strategic Leadership Discussion. Join the discussion today and share your voice.

This event is part of the CFO Discussion: Growth Strategies Discussion. Join the discussion today and share your voice.

This event is part of the CFO Discussion: Human Capital Strategies Discussion. Join the discussion today and share your voice.

This event is part of the Special Task Force (STF): Talent and Workforce Development Discussion. Join the discussion today and share your voice.

Related Knowledge

Show More

Event Attendees

  • Nick Araco, Chief Executive Officer at The CFO Alliance,
Show More