High-volume, low-cost assessments will herald a new age of candidate matchmaking. The new recruiting mantra: attract fewer applicants.
Traditional assessments—used by HR executives to screen job candidates—are typically developed by academics who may spend years designing, testing and validating psychometric and skills-based evaluation tools.
Given the high level of investment, assessment companies charge a lot of money to administer these tests. With per-person fees as high as $2,000, traditional assessments are used for only a small handful of all candidates a company recruits.
What’s more, because they are so meticulously designed, these types of assessments are created to last a decade or more without revision. And that’s a problem. The competencies required in many professions look very different today than they did five years ago. Consider the role of a pharmaceutical sales executive. The field now demands highly specialized medical knowledge, expertise with reimbursements and regulation, and consulting skills (compared to the greater emphasis on traditional sales skills seen a decade ago). Long-run assessment tools simply can’t adapt fast enough to keep pace with radically shifting talent demands.
HR executives are on the hunt for new and better solutions—particularly low-cost, front-end assessments that can screen all potential job candidates rather than a select few. They also need highly efficient tests (e.g. boiling down a 400-question test in to as few as a dozen key questions) that assess personality and cultural fit. And in highly specialized fields (e.g. software development), HR executives want to test whether candidates truly have the breadth and depth of knowledge they claim to.