The personality of the candidate you consider for your job opening consists of a set of traits that determine his/her behaviour. As behaviour is essential for success in the new position, we decided a personality assessment would be a huge asset in the Treasurer Test.
Instruments for candidate screening
There are many instruments you can deploy to predict the success an applicant will have upon hire. Best known are cv screening, (structured) interviews, reference checks, diplomas and online or other assessments. Research shows that, depending on the position, skills tests are the best predictors of how good a candidate will do, followed by personality assessments. Combining various instruments increases certainty about the expected success. In the Treasurer Test we combine skill/knowledge testing with a Big5 personality assessment thus aiming high. There are other reasons for including Big5.
Many of the instruments mentioned to predict the success of an applicant are not stable. They will give different results with the same candidate if done for the second time and are subjective. Especially interviews and reference checks are proven unstable and interpreted differently. Most organisations did not invest in the training of interview skills of staff members: meetings are often improvised. Personality assessments are proven consistent. All involved in the recruitment process will have the same report, decisions will be better.
With online technology getting easier accessible and more cost-effective, creating this assessment in 2019 is doable, though still not easy. Five years ago it would have been much harder and potential users would have a harder time accepting the concept.
Research of ‘the treasurer’ personality
No well-known research has been done into the personality and skills of treasurers. The population is not compared among each other and to general population. Neither research has been done into the success variables of treasury professionals. The dataset resulting from the Treasurer Test will, taking GDPR into consideration, be used to do quantitative research into the personality of “the treasurer” and other aspects.
Treasurer Test as a matching tool
Let’s not forget that in order to reach the full potential of a new employee and related to this the Treasurer Test, the new working environment of the employee should be analysed in order to find out what personality would match best. The Treasurer Test serves as a matching tool, so two sides should be taken into consideration: the position and organisation on one hand, the candidate on the other.
Although user-friendly, it cannot be denied that making the Treasurer Test is an investment in time and money.
However, let’s think about the following question: can you quantify the investment lost if you hire the wrong candidate?
On behalf of Team Treasurer Test,
Wout van Wijlick
Marketing Coordinator, treasuryXL