NAFCU Services Blog

Oct 25, 2011 by Kelly

Does your credit union do prospective employee testing?

I just watched NAFCU’s live webcast, “Implementing an Effective Employee Assessment Program,” presented by our good friends at Human Capital Solutions Group and Andrews Federal Credit Union.

There are many benefits to testing new hire candidates and current employees (applying for new roles) on things like cognitive ability, integrity, job knowledge, and personality. In fact, it has been determined that cognitive ability tests are three times more predictive of a candidate’s ability than experience in the job and four times more predictive than education. Yikes.

According to the Small Business Administration, for every $1 an employer invests in personnel screening, the savings range from $5 to $16 in:

  • Reduced absenteeism
  • Improved productivity
  • Lower turnover
  • Safer work environments
  • Reduced insurance premiums
  • Decreased employer liability

It is no wonder that an estimated 65% of organizations use these tests in hiring and internal placement. To learn more about implementing an assessment program for your credit union, you can purchase the on-demand recording of this webcast.

What kind of aptitude tests does your credit union use? Which vendors do you recommend? Please share your comments with us!

Post written by Kelly Latham, Director of Marketing, NAFCU Services Corp.

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