The value of a strong hire is frequently underestimated. Whether through an increase in sales, better performance, or higher productivity, the people you hire represent the greatest impact to your bottom line.

PreVisor has created the following performance and turnover calculators to help you identify the impact of using assessments in the hiring process:

About the Calculator:
PreVisor's ROI Calculators were designed by Jay Janovics, Ph.D., and Ken Lahti, Ph.D. These tools build on decades of scientific research on ROI and how to best evaluate and communicate the value of effective hiring programs (e.g., Brogden, 1949; Cronbach & Gleser, 1965; Vance & Colella, 1990). The Performance Calculator incorporates relevant components of the classic Brogden-Cronbach-Gleser utility analysis formulae to accurately estimate the potential gains, in dollars, from improving one's quality of hire using predictive pre-employment assessments. The Performance Calculator also draws on research by Schmidt & Hunter (1983) to provide simple and conservative estimates (see Becker & Huselid, 1992) for the value of high performance based on average salary. The Turnover Calculator estimates the dollar value of reducing turnover and builds on work by Handler and Hunt (2003) and others using a rational framework incorporating both hiring/replacement costs and the value of performance during the time-to-fill period. Together, PreVisor's ROI Calculators provide organizations a way to know in advance the potential dollar impact of improved hiring using assessment.

References:
Becker, B. E., & Huselid, M. A. (1992). Direct estimates of SDy and the implications for utility analysis. Journal of Applied Psychology, 77, 227-233.
Brodgen, H. (1949). When testing pays off. Personnel Psychology, 2, 171-185.
Cronbach, L. & Gleser, G. (1965). Psychological Tests and Personnel Decisions (2nd ed.). Urbana, IL: University of Illinois Press.
Handler, C. A., & Hunt, S. T. (2003). Rocket-Hire Buyer’s Guide to Web-Based Screening & Staffing Assessment Systems. New Orleans: Rocket-Hire.
Schmidt, F. L., & Hunter, J. E. (1983). Individual differences in productivity. An empirical test of estimates derived from studies of selection procedure utility. Journal of Applied Psychology, 68, 407-414.
Vance, R. J., & Colella, A. (1990). The utility of utility analysis. Human Performance, 3, 123-139.