To accomplish this we need to measure what we do. Talent measurement will continue to grow in significance and PreVisor will be there providing insight on selection, performance and retention of the workforce.
Atlanta, GA (PRWEB) June 23, 2008
PreVisor, the global leader in employment assessments and selection solutions that connect hiring decisions to business results, released its 2nd annual report today summarizing over 33 business outcomes studies. Each study measures the impact on workforce performance following the use of pre-employment testing in the hiring process.
The 2008 Business Outcomes Study was completed in conjunction with U.S. and Global 500 organizations. The results span numerous industries, from financial services to retail, as well as various jobs, including sales, customer service, professional and clerical roles.
"Once again our research has demonstrated a proven link between the use of scientific assessment and performance on the job," states Caroline Paxman, PreVisor Senior Vice President of Professional Services and Chief Product Officer. "We remain committed to continuing our Business Outcomes Studies as an integral part of what PreVisor can provide to our clients, to help them measure direct business results and demonstrate ROI."
The 2008 report measures many success factors and shows that 76% of these studies had a favorable or very favorable outcome. This means that the assessment solution had a strong and measurable impact on most or all of the firms' performance metrics. None of the studies resulted in an unfavorable outcome. For each study the criteria measured are specific to the employer and the job. Some highlights from the findings:
- Luxury retail chain Sale Representatives with high assessment scores sold nearly $270,000 more per year than lower scoring peers.
- A healthcare organization saved approximately $1.5 million annually on recruitment and training expenses by using an assessment to predict retention -- and hiring individuals more likely to stay on the job.
- Collections agents for a financial services group hired after achieving a high score on a specially designed assessment were 44% more effective in getting outstanding debts paid off, resulting in improved overall productivity.
- In a contact center focused on Business Process Outsourcing (BPO), agents with high test scores converted more than twice the number of calls to sales opportunities than lower scoring agents.
Companies who have participated in the studies to date include Advance Auto, EMBARQ, Sprint, and Starwood Hotels.
"Now that we know the positive impact to the bottom line from our selection program, we feel very confident that we are using evidence-based decisions in our hiring process. We can show the real ROI impact on the business instead of just shooting from the hip. It gives our managers a compelling reason to use assessment in their hiring decisions," stated Karen Hoffman, Staffing Manager at Sprint.
In addition to specific organizational findings, some overall trends were indicated:
- HR executives and business owners want proof that "it works" built into the review process for an assessment program.
- Organizations are looking to reduce turnover via comprehensive hiring initiatives.
- Companies are showing an increased interest in web-based, unproctored assessment: Tests delivered using Computer Adaptive Testing (CAT) technology, such as that offered through PreVisor's PreViewTM, is one of the most secure and accurate ways of delivering unproctored tests available today.
- Employers are interested in a broader, more holistic approach to measuring employee performance.
"Our goal is to help our clients get results from their selection process," states Noel Sitzmann, PreVisor CEO. "To accomplish this we need to measure what we do. Talent measurement will continue to grow in significance and PreVisor will be there providing insight on selection, performance and retention of the workforce."
For more information about PreVisor and its Business Outcome Study service, visit: http://previsor.com/products/consulting/validation
Request a copy of the 2008 Business Outcomes Study
PreVisor (http://www.previsor.com), the leading global provider of on demand pre-employment assessment software 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, including more than 100 of the Fortune 500.
dlehman @ market-up.com
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