TalentRise’s Andrew Nash and Courtney Joy held a virtual workshop to discuss the advantage of the Predictive Index to companies’ talent optimization. They discussed the factors contributing to employee disengagement, recent trends in the economy and the workplace, and how behavioral assessments can identify individuals’ motivations, needs, and behaviors and result in data-informed hires.
What is the Predictive Index (PI)?
The Predictive Index (PI) is a behavioral assessment tool used by over 10,000 companies across 172 countries. It aims to provide insights into workplace behavior and the work-related drives of individuals. Essentially, the tool’s goal is to assist an organization in selecting candidates who are very likely to thrive in specific roles. Backed by over 65 years of science, the PI is comprised of four modules that assist in evaluating a candidate’s fit and maintaining long-term placements to improve retention rates.
The four modules of PI:
1 – Hire: This module focuses on finding and hiring top talent to drive business results and initiatives.
The Predictive Index behavioral assessment “lives” within this module.
2 – Inspire: This module answers, “Now that we have made a great hire, what do we do?” and contains all the tools your management team will need to train and onboard your new employee, but it also can be used for coaching and motivating everyone on your team.
3 – Design: The design module focuses on team alignment to develop goals that support the larger business strategy within a new hire’s specific team.
5 – Diagnose: This is essentially an employee engagement survey aiming to locate, understand, and resolve problems within employee teams. Many companies have already established a very similar platform, so this module may cater more to organizations that do not yet have this software.
How are behavioral assessment results measured?
The Predictive Index assessment involves a series of questions that respondents answer, allowing the tool to generate a behavioral profile. The profile is represented using four traits:
1 – Dominance: This trait measures the individual’s inclination to take control, assertiveness, and desire for influence over other people or events.
2 – Extraversion: Extraversion measures the individual’s social orientation, need for interaction, and comfort level in group settings.
3 – Patience: This drive measures an individual’s preference for stability and consistency in their day-to-day work.
4 – Formality: This drive measures the preference to adhere to rules and structure.
What caused the recent surge in the use of PI?
Only 36 percent of executives believe they have the right executive team in place to execute their business strategy. Hiring managers often struggle with the hiring process because they lack behavioral and cognitive data on candidates, relying on gut feelings instead. Additionally, several ongoing trends within the workplace and economy are leaving many positions vacant.
1 – Ongoing talent shortage: Despite job vacancies, there is a talent scarcity of skilled individuals, particularly in certain industries and specific roles. This shortage creates immense competition among employers and challenges recruiters in sourcing and hiring the right talent. In fact, 57 percent of HR leaders feel their company could use talent acquisition and retention support. In today’s economy, the candidate has all the “power.”
2 – Debate around hybrid and remote work: The pandemic accelerated discussions and decisions regarding remote and hybrid work models. Companies are grappling with finding the right balance between remote and in-office work arrangements. The debate involves determining productivity levels, team collaboration, employee engagement, and organizational culture. Decisions around remote work policies can significantly affect talent attraction, retention, and workforce satisfaction.
- Related blog from Aleron Group partner Broadleaf Results: The State of Remote Work in 2023
3 – Evolving employee experience: The employee experience has been impacted by significant changes, influenced by a desire for benefits such as work-life balance, well-being, and flexibility.
4 – Employee fatigue and burnout: The pandemic and post-pandemic impacts have increased employee fatigue and burnout. Remote work, longer working hours, blurred boundaries between work and personal life, and high workloads contribute to the ‘burnout” that much of the workforce report feeling.
5 – Social fractures and divisions: Social fractures refer to divisions and polarization within society that may manifest within the workplace. This type of engagement can quickly create a toxic work culture.
6 – Recession debate: The ongoing discussion around a potential recession requires organizations to prepare to face the consequences of economic turndown. Understanding your workforce and the skills needed to meet the organization’s goals can help make informed decisions during challenging times.
7 – Impact of inflation: Inflationary pressures affect wage levels and pricing models within organizations and employee lives. Businesses must consider every arena impacted to ensure their wages remain competitive and viable.
Why is PI so valuable?
The Predictive Index assessment results provide insights into individuals’ behaviors, preferences, and drives. This data allows organizations to make informed decisions regarding work arrangements, employee experience, team dynamics, economic uncertainties, and compensation strategies.
When making a hiring decision, learning more about the candidate than what is presented on their resume is essential. Indeed, their skills, experiences, and knowledge are key factors when selecting a candidate for a position. However, understanding their personal and corporate values, strengths, and motivators is vital to understanding whether the candidate is the correct person for the role.
Are you struggling to find a good fit for your team? Request a team discovery strategy session here.
This blog was written by Courtney Joy.