BUSINESS OUTCOMES – CASE STUDY
Year-over-year growth of 11% using The Predictive Index® with Toromont CAT
The Company
Toromont Industries Ltd. is a public Canadian company with over 3,200 employees throughout North America. Toromont is an industry leader in construction equipment, power, refrigeration, and processing systems.
The foundation of their business strategy is the acquisition and development of business units in North America with the purpose of achieving leading positions in relevant markets.
CHALLENGES
After experiencing consecutive years of decline in net earnings, Toromont made the decision to develop and expand the role of Human Resources relative to the overall management and direction of the company. One of their key objectives was to develop a more strategic approach to recruitment and selection, particularly within their Caterpillar dealership, to ensure that they had the right people in the right jobs. In 2007, Toromont partnered with Predictive Success to help leaders develop highly effective succession plans using The Predictive Index System. Toromont has since experienced year-over-year growth of 11%.
SOLUTIONS
Toromont’s partnership with the Predictive Index Behavioural Assessment, uncovered a more strategic approach to recruitment and selection. The PI assessment provides benchmarks to distinguish specific roles. By comparing candidates to each benchmark, Toromont had the information necessary to hire the ideal candidate from internal and external sources. This process proved to be a success, leading to a reduction in the number of ‘mis-hires’ and a much lower risk of turnover during the first year of employment.