The last in a series of questions to ask about any solution you’re considering for pre-employment testing at your company…
5. Can you measure the ROI?
It is possible to measure the ROI of a well-designed personality assessment. The return is measured by an increase in the quality of new hires and by decreased turnover.
Ask any vendor you’re considering for case studies. Also see if they have a framework for measuring the ROI of their solution. These should show that their customers are able to easily calculate the impact of the assessment program.
Find out what the vendor’s process is for optimizing the benchmark that underlies a search. As the assessment is implemented and candidate responses are collected, important data is being generated that should be compared on a regular basis to hires’ performance. Results of that comparison should be used to make real-time adjustments to the benchmark for better accuracy.
For positions that are filled in high volume, you don’t want to wait a year to learn there are problems with your underlying benchmark. The feedback interval should happen quarterly for these jobs. For lower volume positions, once very six months or even once a year may be sufficient.