Psychometric Assessments – An Inevitable Alternative To Recruitment (Part 1)
The behaviour of a candidate is more preferred in the hiring process over how competent he/she is. Psychometric assessments go beyond judging the abilities and knowledge to actually judging the real person.
Knowing about Psychometric
Aptitude tests, technical tests, one-on-one interviews, presentations or a well-prepared combination of these are conventional recruitment methods used to determine if the person can do the job. Attitude defines behaviour. Your perception, approach, decision-making abilities and response to any sort of emotion is defined by your attitude.
Psychometric tests measure actual behaviour and determine if the candidate is the right fit. They also detect leadership attributes, stress management traits, social behaviour, motivation and other essential traits in candidates.
How beneficial are they?
Aptitude tests determine if a person can do the job, psychometrics is used to identify if the candidate fits in the role. Psychometric tests go beyond testing an individual’s abilities and education, they go deeper, identifying who the candidate really is. Evaluation of test results does not require an expert or a degree in psychology. Tests are easy to set up and can be used during the recruitment process, to determine promotions, identify skills gap and even determine retention.
Psychometric tests encourage consistency in recruitments, provides the true picture, saves time and money while providing the right fit.
Psychometrics in the Corporate World
The incidence of what is termed ‘resume fraud’ is on a rapid rise globally. According to the annual reports by AuthBridge, the average discrepancy rate in the past three years is 20.11% (50% higher than reported in 2016) i.e.; approximately 1 of 6 applicants exaggerate the information given in their resumes.
You probably did read about Scott Thompson, former CEO at Yahoo accused of amplifying his academic credentials which consequently led to him leaving the organization. Issues like this require recruiters using systematic and tenable recruitment methods which is where psychometric assessments come in.
Consequences of bad hiring
“A small team of A+ players can run circles around a giant team of B and C players.” – Steve Jobs
When a hired candidate is unable to perform the roles he/she got hired for it is a bad hire. According to research, about 43% of organizations are dealing with bad hires because they preferred urgency to quality.
Humans are the most important asset to an organization regardless of the organization’s size and a bad hire leads to decrease in productivity.
The cost of a bad hire includes the hiring cost, maintenance, severance and opportunity cost. A bad hire disrupts the employee cycle which is why we advise the objective form of soft skills evaluation, a right step toward making the right hire.
Hiring right using Psychometrics
Jim Collins, an American business consultant once said “Great vision without great people is irrelevant”
The behavioural traits of a candidate might be difficult to detect during interviews, unlike skills, education, experience, and appearance. 81% of organizations that hire using psychometric tests said they made less risky and more reliable hiring decisions. Psychometric assessments supported by resume screenings and structured interviews can extract the right fit for the job role.
Psychometric assessments for learning & development
“Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin
Psychometrics based learning and development assessments help employees look into their shortcomings by self-awareness, thus enhancing the potential. Psychometric tests can be used to determine up to what extent current skills and performance need to be improvised. Psychometric assessments provide a clear-cut picture of interests and motivations.
Psychometric assessments for retention
An estimated one-third of new hires quit their job after six months. Employees have to bear the financial burden of recruitment, training, lost company knowledge, credibility, and customers after losing an employee. This outlines the necessity for periodic assessments, that could shed light on the reasons for the dissatisfaction of employees. After discovering these reasons, employers can do a lot more in this direction to fix what is wrong.
Psychometric assessments can reveal if individuals feel under-appreciated or if there is a lack of communication, which are strong reasons for resignation.
Sooner or later, organizations will realize that skills, aptitude, and knowledge alone cannot do much in the path of building a world-class organization. Employee’s attitude is what makes an organization great and it is very important to analyze employee’s attitude and personality. Organizations serious about attracting and retaining the best talent should take advantage of psychometric assessments to know if the candidate is a fit rather than rely on subjective selection methods.