Psychometric Assessment of Personality A Reliable and Profitable Business Tool - wileyassessments/everythingdisc GitHub Wiki

The hiring process is a complex domain that requires focus and instinct. However, even if we have great instincts, getting the right candidate for the job is impossible. Hiring based on the CV and the interview is not enough. The wrong hire can lead to a loss for the company. The impact of hiring the wrong candidate can lead to a 39% decrease in productivity. According to a LinkedIn report, hiring the wrong person also creates lagging productivity. Good employees often have to bear the brunt of failure or lack of performance, which leads them to quit their jobs. The situation also leads to burnout and low engagement of employees with their work. The negative influence of a poor performer stays with the company for a long time. One of the impacts is the increasing disruption costs, leading to low morale and a heavy loss of productivity. Salaries are also not provided adequately, increasing the company’s attrition rates. Therefore, given these conditions, a psychometric assessment used in the hiring process can provide insights into the personality of the candidate and their behavior in a given situation.

Psychometric Assessment of Personality: Is it Reliable?

Everyone requires specific knowledge and tools to do well in business. A psychometric assessment of personality is reliable for business people to test a candidate’s motivation and potential. The tool is helpful in business coaching, and it is reliable because it has been tested scientifically over and over again. The tool can help to gain an understanding of the analytical ability and performance of the candidate. Even after hiring, the tool can support building an effective team. The sign of an effective team is its ability to work together towards an objective. The best way to form a team is by understanding the different personality types and bringing them together. A psychometric assessment can also help in coaching when you need to validate or clarify a change that needs to be initiated.

Psychometric Assessment Uses

Understanding ourselves is essential for thriving in a chaotic environment. It is also crucial to function well, control our behavior, and understand our instincts while knowing when to use them. A psychometric assessment can gauge an entrepreneur's competence by judging their personality. According to a study, 72% of business owners do not have accurate self-knowledge and therefore are not effective coaches. It can have devastating consequences on a new business or impact the relationship with the client. By measuring the competencies and the personality traits of an individual, the tool can help to gauge if they will become effective entrepreneurs and coaches. The studies will also support training providers to give custom-made coaching models to people so that the skill gap is reduced. The assessment is also an excellent feedback provider that teaches entrepreneurs why and how they ended up in a situation. It will also provide insights into how they can get out of a problematic situation and resolve an issue.