When we look back over time at how recruitment has been undertaken it is interesting to see the evolution of candidate profiling in the hiring process. Even going back a decade it was rare for there to be anything more than an IQ test used in the recruitment process and this was more often than not a cookie cutter format that could put an insomniac to sleep.
While more sophisticated IQ tests are widely used in the industry profiling is a more recently embraced phenomenon and has been growing with the acceptance that it has legitimacy and actually adds tangible value to the recruitment process. We see evidence of this is in the incorporation of profiling tools in the recruitment programs of leading wealth management groups. These companies now use profiling assessments in the recruitment of senior, mid-level executives and financial planners.
Profiling comes in various forms ranging from the assessments based on the DISC methodology to those that are custom made by occupational psychologists and human resources practitioners some of whom have experience in the financial service industry. Profiling techniques identify behavioural traits and provide guidance as to what roles would be best fit.
DISC profiling is one of the most pervasive profiling assessment methodologies used across industries due to its portability and ease of application.
DISC profiling is based on the four variables: Drive (D), Influence (I), Steadiness (s) and Compliance (C).
A high D score would be someone who is very assertive, deals directly with challenges and problems traits seen in leaders such as CEO’s and other senior executives
A high I score would be someone who is persuasive, convincing, logical and calculating
A high S score would be someone who has a steady as she goes approach, seeks security and is deliberate and measured
A high C score would be someone who likes rules and regulations, is a stickler for doing everything right, can be opinionated and stubborn
The DISC method is based on these four variables expressed as a quadrant and your score will most likely overlap all of the variables with in most cases one or two being dominant.
While the basis of DISC has been with us since the beginning of the twentieth century it has evolved over time with the work of various psychologists. The criticisms of DISC lie in its proscriptive approach. Many people have had a label attached to them because they have strong representation in one particular quadrant. For example someone who has strong D characteristics maybe stereotyped as being a driver with no allowance for the other variables.
That is not to say that DISC isn’t useful as an indicator of behaviour type but when we look at behaviour matching with role suitability then it may be advisable to build a more comprehensive picture. Some profiling companies have used DISC as basis for their profiling assessments utilising the work of occupational psychologists to build in more customised methodologies while others have built their assessment tools based on other theories with multiple assessment templates customised for different industries and positions in those industries.
The cost to a company in undertaking the recruitment of a new staff member is significant when you take in to consideration the resources that are required from within the business in terms of the time taken up by the manager doing the recruitment, HR and administrative resources and the fees of the recruitment firm.
If for no other reason than risk mitigation it is wise to consider the use of risk profiling to ensure that you have done everything you can to make sure that you do have the right candidate for the role and that person is the best cultural fit for your company. After all the last thing you want is to find yourself at the end of the probation period having to go back to square one and restart the recruitment process all over again.
The value of profiling is significant as it adds a level of objective assessment to the recruitment process and is cost effective. If you are considering using profiling in your assessment then you may be well suited to industry specific profiling assessments. There are two companies that work throughout financial services in this area, Balance at Work (www.balanceatwork.com.au) and PROVA (prova.com.au) however if you decide to cast a wider net then you can contact the Australian Human Resources Institute for further information.
