The company’s Industrial and Organizational Psychology team analyzed responses to Suited’s proprietary assessment from more than 30,000 candidates applying for analyst/associate jobs in investment banking over the last three and a half years.
Suited, the hiring intelligence platform for modern professional services firms, has announced it recently presented findings from its new proprietary research on how changes in economic conditions can impact assessment-taking behavior when applying for jobs in investment banking during the annual conference of the Society for Industrial and Organizational Psychology.
Suited’s data was included in the April 20 poster session titled “Changing to Match the Markets: The Impact of the Labor Market on Assessment Responses.” The presentation examined if the consequences of the COVID-19 pandemic and changes in the labor market impacted how candidates approached taking pre-employment assessments. The authors of the research were Suited’s Director of Assessments, Greg Haudek, Ph.D., Assessment Scientist Menucha Sperlin, M.S., Assessment Science Analyst Amer Odeh, and Assessments Intern Michaela Topacio.
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Dr. Haudek said, “Our analyses indicated that cohorts of candidates are not changing their assessment-taking behavior in consistent or predictable ways over time. While we can’t predict how an individual candidate might change behaviors in reaction to perceived pressures in her or his life, we can conclude that the average candidate will be relatively comparable from cohort to cohort.”
Suited’s assessments only measure competencies shown to be related to specific job outcomes. These types of competencies stay relatively static over a person’s lifetime. Compared to other popular assessments on the market, Suited’s assessment questions are not only highly relevant to the job at hand, but are also highly predictive of both performance now and in the future. While other assessments that ask candidates to potentially reveal traits that are related to their mental state or more fluid personality traits are good for increasing personal awareness, they are not appropriate for predicting future job-related performance.
“It was a great honor to have been selected to exhibit at such a prestigious event,” added Matt Spencer, Suited CEO. “The takeaway from this robust analysis is that candidate responses tend to be consistent and predictable over time, indicating that Suited’s assessment is a stable measure of a candidate’s personality as it relates to job performance regardless of the environmental conditions that might have other impacts on hiring cycles.”
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Suited is the hiring intelligence platform built for modern professional services firms. Suited delivers an independent evaluation of candidate potential using objective, relevant data and predictive analytics so that firms can make the most accurate and equitable hiring decisions possible.
Suited launched its first product offering in early 2019 for the Investment Banking industry, followed by its platform for Law Firms in December 2020, and has allowed recruiters and hiring managers in these highly competitive industries to understand candidates holistically and without bias. Using the power of machine learning and proven best practices from industrial-organizational psychology, Suited creates assessment-driven ecosystems that enable hiring teams to equitably expand the way they identify and consider talent while providing candidates with an easy way to demonstrate their potential.
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