75% Of The Fortune 500 Use Psychometric Testing for HR and Recruitment ROI
In an age where almost everything is justified and verified using reliable data, even recruitment decisions fall under scrutiny where proof of empirical data is concerned. Psychometric testing offers a sophisticated method with which to acquire dependable information on candidates during the recruitment process.
A psychometric test measures candidate’s attributes, such as preferences, work styles and personality. It provides an employer with an indepth insight into how a potential candidate will fit into an organisation, by assessing how they handle stressful situations and how they would cope with intellectual demands a job requires.
Who Uses Psychometric Testing?
First studied in 1886, the psychometric science is very well established, and indeed is implemented regularly as part of the recruitment process of over 75% of the Fortune 500 companies. Psychometric testing for recruitment selection is an effective tool used by employers who have historically relied on gut feeling or instinct to judge a candidate’s abilities. Here are some other reasons why it benefits organisations:
1) Better Than Gut Feeling
Research shows hiring the wrong person for a job can cost a company up to 150% of an employee’s salary in lost productivity. This is an expensive bad decision for companies, and one that’s easily avoided via psychometric testing.
2. The Results are measurable
By matching candidate and job metrics with psychometric testing, organisations can easily match, and quantify, how well people might perform in various roles.
3. Create a positive employer brand
A selection process founded on scientific measures establishes an organisation’s fairness in recruiting and helps build the brand. Using psychometric testing as contributor to the organization’s staffing decision process ensures that everyone’s merit is equally judged on a level playing field. Candidates appreciate the fairness of the final staffing decisions much more, when they know these were based on unbiased methodologies.
Use Psychometric Testing to Increase Your HR ROI
Psychometric assessments not only help you find the best new employees but also help you to pinpoint training and development needs among existing staff. At CloudForce HR, we can provide your company with Psychometric Assessments which will help you find the most suitable employees for your company. For information please contact us.