Psychometric Testing Tools to Recruit, Develop and Retain the Best Property Talent
The property job market is competitive. Property businesses need to continually assess how they recruit, develop and retain the very best talent.
This insight looks at psychometric testing and the role assessment tools can play in the recruitment process, as well as some of the advantages and disadvantages to watch out for.
What is Psychometric Testing?
In brief, psychometric testing involves the use of standardised assessments to measure an individuals’ mental capabilities, personality traits and behavioural styles.
They are designed to provide objective data that can help understand a person’s suitability for a specific job role or their potential for development within an organisation.
What are the key types of Psychometric Tests:
- Aptitude Tests: used to measure cognitive abilities such as numerical, verbal, and abstract reasoning. They help assess a candidate’s problem-solving skills and ability to learn new information.
- Personality Tests: used to evaluate personality traits and behavioural tendencies. They provide insights into how an individual is likely to behave in different situations and how they might fit within a team or business culture.
- Emotional Intelligence Tests: used to assess a person’s ability to recognise, understand, and manage their own emotions and the emotions of others. Crucial for roles that require strong interpersonal skills.
- Situational Judgment Tests (SJTs): used to present hypothetical, job-related scenarios and ask candidates to choose the best course of action. They help evaluate decision-making and problem-solving skills.
Four Common Psychometric Assessment Providers
With a mission to give organisations actionable insights to help build strong, cohesive and effective teams, McQuaig offers a number of key features to provide, including:
- Psychometric Assessments: a suite of scientifically validated assessment tools designed to benchmark, recruit, develop, and retain the right people for your business.
- McQuaig Word Survey: a tool that helps organisations to understand personality traits as well as predict job performance and employee engagement.
- McQuaig Job Survey: used to define the behavioural and cognitive requirements of a job, ensuring a good fit between the role and the candidate.
- McQuaig Mental Agility Test: measures cognitive abilities and mental agility, providing insights into not only a candidate’s problem-solving skills but also their learning capacity.
- Development and Retention: over and above recruitment, McQuaig’s tools help to develop employees based on their strengths and retain top talent through effective succession planning.
Grounded in psychometric science, Thomas offers a range of tools designed to help organisations make informed decisions about recruitment, development and talent management, Thomas’s key features include:
- The Personal Profile Analysis (PPA) provides insights into a person’s behavioural preferences and communication style. It helps in understanding how individuals are likely to behave at work.
- The High Potential Trait Indicator (HPTI) is based on the ‘Big 5’ personality traits model. It assesses traits that predict job success and potential risks for derailment.
- The General Intelligence Assessment (GIA) measures cognitive abilities in five key areas: Reasoning, Perceptual Speed, Number Speed & Accuracy, Word Meaning, and Spatial Visualisation. It helps in identifying individuals’ learning speed and cognitive potential.
- The Trait Emotional Intelligence Questionnaire (TEIQue) measures emotional traits related to Well-Being, Self-Control, Emotionality, and Sociability, providing insights into how individuals manage their emotions and interact with others.
- The 360 Degree Feedback tool allows individuals to gather performance feedback from managers, colleagues, team members, and customers. It helps in comparing self-perception with others’ perceptions and identifying areas for development.
- Engage measures employee engagement levels within an organisation, helping to identify actions to enhance employee well-being, motivation, and productivity.
Providing actionable insights that can be easily integrated into talent management strategies, Saville is known for its innovative and scientifically validated tools designed to enhance talent management processes.
Key Features of Saville Assessment include:
- Wave Assessments: designed to predict job performance and potential accurately, these comprehensive tools measure a wide range of competencies, including personality, motivation and cognitive abilities.
- Aptitude Tests: a variety of tests that assess numerical, verbal, and abstract reasoning skills, helping to identify candidates’ cognitive abilities and their suitability for specific roles.
- Situational Judgment Tests (SJTs): useful for evaluating how candidates might perform in real-world situations, these present candidates with realistic work scenarios to assess their judgment and decision-making skills.
- Personality Questionnaires: measuring various personality traits and behavioural styles, they provide insights into how individuals are likely to behave in different work environments.
- Development Tools: for employee development, including 360-degree feedback and coaching reports, they help to identify strengths and areas for improvement, facilitating personal and professional growth.
Designed to predict job performance and potential, Hogan’s personality assessments help organisations make data-driven decisions to select, develop and manage their talent effectively.
Key features include:
- Hogan Personality Inventory (HPI): measuring normal personality characteristics that predict job performance, HPI focuses on the bright side of personality, assessing how individuals relate to others when they are at their best.
- Hogan Development Survey (HDS): assessing the dark side of personality, which can emerge during times of stress and potentially derail careers, HDS helps identify and mitigate performance risks.
- Motives, Values, Preferences Inventory (MVPI): evaluating the core values, goals, and interests that determine what individuals find rewarding and motivating, MVPI helps in understanding cultural fit and aligning personal values with an organisation’s goals.
- Hogan Business Reasoning Inventory (HBRI): measuring cognitive reasoning skills, including the ability to evaluate data, make decisions, and solve problems, HBRI provides insights into an individual’s decision-making style and problem-solving abilities.
- Hogan Judgment: combines cognitive and personality assessments to provide a comprehensive view of an individual’s judgment and decision-making capabilities, as well as their ability to learn from experience,
But what benefits do Psychometric Assessment tools offer when it comes to recruiting and retaining the best property talent?
Psychometric testing offers property businesses a range of advantages, including:
- Objective and Fair Evaluation – Testing provides an objective way to evaluate candidates, reducing the risk of bias in the recruitment process. This will allow hiring decisions to be based on objective data as opposed to subjective opinions.
- Predicting Job Performance – Some traits and skills might not be evident through a resume or interview. Psychometric tests can unveil crucial information about a candidate’s potential for leadership, teamwork, and other soft skills. Psychometric tests can predict how well a candidate will perform in a specific role by assessing their cognitive abilities and personality traits. This will help property businesses select candidates who are likely to succeed and thrive in the position.
- Identifying Development Needs – Psychometric assessments can help property businesses identify areas where employees may need further development or training. This will help create more personalised development plans, enhancing skills and performance.
- Enhancing Team Dynamics – Understanding the personality traits and differing behavioural styles of team members can improve team dynamics and collaboration, leading to a more cohesive and productive work environment.
- Cultural Fit – Personality tests can help determine if a candidate’s values and behaviours align with the company’s culture. This is important for ensuring long-term employee satisfaction and retention.
- Reducing Turnover and Increasing Retention – By selecting candidates who are a good fit for the role and the business culture, psychometric testing can help reduce employee turnover. Employees who feel well-matched to their roles are more likely to stay with the company long-term.
- Reducing Costs and Increasing Hiring Efficiency – Psychometric assessments can help reduce lengthy interview processes, potentially offering businesses a more efficient way to screen candidates, saving the business time and resources.
While Psychometric Testing offers several benefits, it is not without its disadvantages.
Some of the drawbacks property businesses need to be mindful of are:
- Potential for Misuse – Without proper understanding, psychometric tests can be misinterpreted, leading to poor hiring decisions. It’s crucial that the tests are administered and evaluated by trained professionals.
- Cultural Bias – Psychometric tests can sometimes be biased towards certain cultural norms, which might not be fair to all candidates. A test designed in one country, for example, might not be as effective in another, due to cultural differences.
- Overreliance on Testing – Overdependence on or relying solely on psychometric tests can be dangerous. They should be used as part of an overall, rigorous assessment and selection process, which gives a comprehensive view of a candidate.
- Stress and Anxiety for Candidates – Some candidates may find psychometric testing stressful. This can be caused by an overreliance on it, which can affect their performance. It’s important for the hiring business to create a supportive environment and provide clarity at the outset, so all candidates feel at ease throughout the recruitment process.
When used correctly, psychometric testing can be a highly effective part of the recruitment process.
However, organisations must be mindful of the potential pitfalls and ensure that they are using these tests fairly and effectively.
The right assessment tools will help ensure you attract, develop and retain the talent that’s right for your property business, as well as build a strong, effective team.
Want to know more about how we go about finding the highest calibre property professionals for our clients?
