October 24, 2016 in Services
There was a time when testing academic knowledge was considered sufficient for hiring a candidate. Now, recruitment on the basis of written test only is rare, particularly in the private sector. Companies have realized they need more than just a capable mind, a mind that can work proficiently in the real time, stressful environment. To analyze the candidates extensively, group discussions, personal interviews are conducted in almost every corporation during the recruitment process. Though effective, the process is slow, cumbersome and can’t be considered foolproof. To facilitate the work of HR department and to provide a better insight into the candidate’s mind, the predictive index (PI) is an emerging method.
Predictive Index (PI): What is it & How it works?
Corporations intend to hire the most suitable candidate as per their requirements. Also, they wish to achieve this with a minimum expenditure of resources. This is where PI comes into play. PI is an assessment tool that creates a behavioral profile and provides depiction or patterns of a person’s core drive and work preferences. The PI analysis involves a series of quick and simple psychometric tests that assess the natural behavior of a person. Trained analysts review the results and report the strong behavioral traits of the person, their mental status and the kind of attitude a person is likely to have in a particular situation. Upon seeing the results of PI analysis, the work of HR department becomes easier as they get to know the candidate’s state of mind.
PI: Not a hypothesis, but a real world solution
A top level employee of a reputed company was working under a lot of stress due to various factors. The management failed to pick up the signs and missed the magnitude of the problem. The whole scenario could have turned into a mess which would have been a nightmare for the HR, but this was prevented by PI analysis. Almost on the verge of a breakdown, the manager took the test and the company was able to take preventive measures. In another case, PI analysis revealed that morale of a team of 10 people was low. Upon investigation, the HR found issues between the team and their manager. Vinay Bansal, co-founder of Predictive Strategy Group, which conducts analysis for companies commented, “This kind of predictive analysis can help organizations take corrective actions at the right time to help their employees remain with them and be productive”
PI for promotions & recruitment
PI has proven to be effective for the study of human behavior during recruitment as well as for finding the right fit during promotions. The promotion process in a department at Amway relied on inferences made by PI analysis to take better decisions. HCL also employs an analysis tool based on neural network engine. The company said 17% demand fulfilled through reskilling is an outcome of predictive intelligence. This emerging trend is also picked up by startups. Ashutosh Pandey, Co-founder of fashion social network WithMe, turned to PI analysis when facing problems in getting right candidates for his company.
Combining HR and PI: Making a better workplace
Thus, technology has become an indispensable part of HR. More than half of the leading corporations of the world have updated their core technology. According to a research by Economic Times, the number of companies using PI analysis or similar technologies has almost doubled in last 5 years. PI analysis assists the HR department during recruitment & promotion process and also helps the authorities in making sure their workplace is a healthy one.