The annual study we publish is very impressive - and the most important thing we do with the data obtained in each study is feed it back into the testing system, to further refine the accuracy of its measurement. The benefit of that approach can be seen by our clients year after year.
Bracknell, UK (PRWEB) October 25, 2007
PreVisor, a leading provider of employment assessments and selection solutions that connect hiring decisions to business results, recently delivered strong proof of the financial results that assessment can bring. Presented during a half-day seminar analyzing trends in assessment technologies, the company showcased the bottom-line success of many of its clients in a summary Business Outcomes Study.
Held in London on 5 October, 2007, the event was designed to bring together a group of forward-thinking professionals for networking and education about best practices in employment assessments. Representatives from recruitment agencies, HR consultancies, and large employers attended, to share their experience using assessments, and to hear PreVisor report on the latest business results from the field.
Guest speaker Mike Russiello, SVP, PreVisor and President, Brainbench, summed up the state of the industry for attendees, "Everyone in this business believes in the power of assessment to improve hiring decisions and save money. Otherwise, we wouldn't be here. However, surprisingly few companies are willing to measure it. That's the key difference in PreVisor's approach, and the reason we're here today."
The 2007 Business Outcomes Study (BOS) presented during the meeting does just that, summarizing 29 separate outcomes reports covering a range of companies and industries. A cornerstone of PreVisor's offerings, the BOS was the centerpiece of the presentation. As attendee Stephen Randall of Hewitt Associates said, "The PreVisor approach clearly enables organizations to drive the business outcomes they care about most by identifying the candidates with the greatest potential. And just as importantly, they have proven the assessments work time and again through ROI studies such as this, conducted with their clients."
The overwhelming number of cases summarized in the BOS bear out the success of assessments, by measuring "very favorable" outcomes. Some examples include:
- A call center found that high scorers on an employment test outsold low scorers by more than £8800 per year.
- Turnover in a warehouse distribution center was reduced by 50% by pre-employment assessment.
- High-scoring reservation agents for a resort destination generated over £73 more per hour in sales than low-scoring agents.
Meeting attendees shared similar experiences, and discussed the assessment best practices that helped create these results. One of the key techniques is a program of ongoing testing, reporting, and refinement. As Hewitt's Randall explained, "The most valuable part of PreVisor's proposition, in my view, is the ability to fine-tune - or optimise - the assessment itself for future use, to give you an even better prediction of the results you need as a business."
According to PreVisor's Russiello, that view is shared by many of PreVisor's clients. "The annual study we publish is very impressive - and the most important thing we do with the data obtained in each study is feed it back into the testing system, to further refine the accuracy of its measurement. The benefit of that approach can be seen by our clients year after year."
The success of the London event demonstrates PreVisor's growing European presence, part of an ongoing expansion into global markets. PreVisor opened their UK office to service clients in the UK and Ireland earlier in 2007. "It's this sense of partnership and of working together with our clients after the initial sale of the assessment that attracted me to PreVisor - as well as the strong focus on demonstrating the benefits in real business terms" says Jonathan Oldershaw, UK Business Development Manager.
PreVisor, a leading provider of pre-employment assessments and employee selection solutions, helps organizations by connecting hiring decisions with business results. Following the rigorous standards of industrial-organizational psychology, PreVisor's assessment content accurately predicts on-the-job performance and supports fair hiring practices. PreVisor's solutions help streamline hiring, reduce recruiting and training costs, and improve corporate performance for clients worldwide. http://www.PreVisor.com
Director, International Business Development