| By :
Jamie Simpson
A business owner has many critical decisions to make everyday. They also have many financial concerns. One of the biggest financial concerns is payroll. This is justifiable because employee salary takes a large bite out of profit. That is why every employee must be productive. If a company operates on a 30% gross profit it would be ideal for a prospective employee to generate their salary plus 30 percent in gross profit. So how can a business owner assess the potential of a prospective employee to find out they have to the necessary skills to perform in a profitable manner? Well, in past they relied on experience and intuition during the interview process. This method still works today. However, there are tools available such as creating bespoke online tests that can further assess a potential candidate and their abilities. Why Creating Bespoke Online Tests Is An Advantage To Your Organization The first reason is numbers. After placing an advertisement, a company may be inundated with hundreds of resumes. The best way to decide which candidates to bring in for an interview would be to create bespoke online tests that are designed to assess ability. Ability testing has a long-established reputation for predicting which candidate is the most likely to succeed in the position. Using the scores and the resumes a short list of candidates can then be compiled and contacted for a face-to-face interview. This not only increases the likelihood of finding the right candidate but also saves days of interviewing. The second reason is objectivity. An interviewer may tend to hire a candidate solely on gut instinct. On the other hand using an assessment test reduces the guesswork and helps the interviewer make a subjective hiring decision. Once they have narrowed their list down they can then use their instincts to higher the right candidate. Save Money With Bespoke Online Tests Finding the right person for the right job is priority. In the end, this will save company money. Nothing is worse then to bring a candidate on board and spend weeks, sometimes months, on their training only to discover they do not have what it takes. If an employee is making 50,000 per year and they spend four weeks training but cannot cut the mustard a company has wasted nearly $4,000. The company that operates on a 33% gross margin has to generate more than $12,000 in sales to cover the wasted trading expense. Using the Bespoke online tests can dramatically increase the odds of finding the right candidate for the right job thereby reducing the risk of losing money and wasting training resources. There are also indirect ways Bespoke online tests can save a company money. In addition to ability assessment, there are also tests to assess honesty. This is useful for businesses that experience theft. As with training expenses, it will take $3 in sales to replace $1 in theft. Therefore, a business owner can create bespoke online tests to assess ability and honesty at the same time. They have now the saved on operating expenses and losses due to theft.
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