In today’s fast-paced, rapidly changing, and ever-expanding digital landscape, organisations are faced with a variety of challenges. How can they drive operational performance while simultaneously reducing costs and increasing efficiency? The answer lies in psychometric assessment— the measurement of various aspects of human performance, including personality traits and job skills. In this blog post, you will learn about the benefits of psychometric assessment and why it is so important for operational performance.
What is Psychometric Assessment?
Psychometric assessments are typically completed using online tests and tools such as online surveys, online questionnaires, automated call surveys, and assessments software. These measurements can be used to assess candidates for roles within an organisation, managers and employees, or even customers. There are many different types of psychometric assessments. Some of the most common types of assessment include:
Personality Tests - These are used to measure aspects of personality including traits such as extroversion or sociability and emotional intelligence.
Cognitive Tests - These are used to measure a person’s ability to think, reason, and solve problems.
Behavioural Tests - These are used to measure aspects of behaviour such as leadership, teamwork, or adaptability. -
Physical Tests - These are used to measure things like dexterity, eye-hand coordination, or reaction time.
Job Simulation Tests - These are used to measure proficiency in specific job skills such as accounting, computer programming, or sales.
The Importance of Operational Performance
Operational efficiency and performance is critical to the success of any organisation. In fact, it has been reported that losing just 1 percent in operational efficiency can lead to an almost 10 percent drop in financial performance. Operational performance is defined as the ability of an organisation to efficiently execute its business strategies and achieve its goals. It includes everything from productivity to the utilisation of assets to the customer experience and quality.
Benefits of Psychometric Assessment
There are many benefits of psychometric assessment, including: - Improved Operational Performance - It goes without saying that the point of any business or organisation is to achieve operational performance. Psychometric assessment can help to achieve operational performance by providing insight into how well employees are performing their job functions. Reduce Turnover and Retention - Turnover and retention rates have a significant impact on an organisation’s bottom line. An HR tool designed to make hiring decisions that reduce turnover and increase retention can have a huge positive impact on an organisation’s financial performance. Reduce Costs - Organisations are always trying to reduce costs, either through the reduction of expenses or the maximisation of revenues. A psychometric assessment can help organisations better understand their employees’ strengths and weaknesses to help them make better decisions in terms of hiring, training, and compensation. Improve Productivity - Research shows that productivity is as much as 33 percent lower on average on Mondays compared to Fridays. Psychometric assessments can be used to make better decisions when it comes to scheduling employees and choosing their job tasks.
Overall, psychometric assessment is an important HR tool for improving operational performance and enabling organisations to make better hiring and management decisions. With the help of this tool, businesses can identify their employees’ strengths and weaknesses, understand how well employees are performing their job functions, and determine how to improve performance and increase productivity.