Case Study: Entry-level Sales Professional Job Simulation

Overview
This paper discusses the effectiveness of adding a highly realistic and engaging web-based assessment center process to an existing selection paradigm. Web-based assessment is ideally suited to meet the demands of Generation Y, and both organizations and their employment Candidates view it as a market differentiator. This flexible, virtually on-demand process can be used to quickly and cost-effectively select highly qualified employees from among the vast pool of new entrants to the job market, whose limited work background can be difficult to assess through interviews and tests alone. The result can be a more qualified, more satisfied workforce.

The Business Opportunity

Providing an unforgettable selection experience for Gen Y

Our client, a global financial services firm, had the goal of hiring 104 entry-level Financial Advisor Associates (junior sales professionals) in 13 national markets within 2 months. There were 3 specific challenges they needed to address:

1. A dispersed geographical territory
2. A very short timeframe
3. A recruiting population exclusively from Generation Y (college recruits)

Research into the needs of Generation Y suggests a different set of values, and therefore different needs, from other generations. In a survey conducted by CareerBuilder in 2007*, Gen Y'ers, as compared to previous generations, expect higher pay, more flexible work environments, more frequent promotions, and more vacation time. They are highly adaptable, effective multitaskers, and competitive, both internally and with others. Finally, Gen Y'ers have grown up with and have no fear of technology. They use it in new ways and expect to have access to state-of-the-art technology on the job. These expectations require organizations to begin to reexamine some of the practices that have worked with previous generations of employees, to ensure that they are able to effectively engage and select from this new cohort.

Addressing geography and timeframe

To accommodate the dispersed geography and short timeframe, our client designed 13 regional recruiting events, or “super days.” For each super day, Candidates selected to attend would be brought to a central location in each region. The 2-day events would kick off with a dinner on day one, at which Candidates were introduced to senior field management whom they would be working with if hired. Day two would consist of three 1-hour Behavioral Event Interviews (BEIs) for each Candidate designed using a proprietary competency model.

Most importantly, however, our client wanted to stand out from the crowd as an employer of choice for Gen Y. To do so, they needed to appeal to Gen Y appetites by providing their Candidates an unforgettable selection experience. They wanted something market-differentiating that gave Candidates the opportunity to shine in a manner most consistent with the needs of Gen Y. They also wanted to determine not just whether the Candidate was right for the job, but they also wanted a process that would help the Candidates to decide whether the job was the right fit for them.

Fenestra's Business Solution

Leveraging Fenestra's E-valuation ™ Web-based Assessment Center

To provide the elements of engagement, excitement, and market-differentiation that our client desired, as well as to address the multitasking, technology-focused nature of Gen Y, we designed an E-valuation ™ web-based simulation for Candidates in addition to the other super day activities.

Using E-valuation™ , our client was able to meet their main objectives:

• Scalability. Assess 140 Candidates within a two-month period.
• Distributed delivery. Conduct assessments at 13 locations.
• Cycle time. Complete an assessment cycle, including Candidate scheduling, assessment, decision-making, and feedback, within a one-week period.
• Standardization and control. Maintain centralized control, standardization, and consistency.
• Role fidelity. Provide an assessment experience that closely resembles the responsibilities, challenges, and the modes of communication commonly used by the client.
• Cost. Deliver assessments at a fraction of the cost of a traditional assessment center.
• Stakeholder involvement. Provide organizational stakeholders controlled but readily available access to ‘observe' activities, and to access assessment-related data and results.
• Market differentiation. Provide a unique, engaging, interactive hiring experience that facilitated Candidate learning about the job.

For the client, E-valuation ™ requires few resources – a computer, a phone, and an internet connection are all that are needed. For Candidates, it is an exciting, dynamic process. It creates a technologically-based fiction that comes very close to a gaming environment – it occurs via the internet, a computer, cell phones, flash presentations, voicemail, blackberries, etc. It also provides the Candidates an opportunity to test-drive the job. As new entrants to the job market, many Gen Y'ers have little work experience to use to determine their fit with a job opportunity or for organizations to use to determine their qualifications. By putting them in the seat, both parties are able to determine whether the fit is right.

In response to the client's need, we created a 2-hour, web-based “day in the life” job simulation using Fenestra's E-valuation ™ platform. Each Candidate was presented with a highly realistic email inbox, a calendar of scheduled and unscheduled time, account records of client and prospects, electronic folders with supporting documents, incoming and outgoing phone calls with trained assessor playing prospects and clients, and a meeting with an assessor playing their manager.

At the end of each super day, an onsite consultant led the client through an integration session. The assessment and interview results were discussed among the group, the Candidates performance was evaluated, and selection decisions were made on the basis of that performance. The result was selection of the most qualified Candidates for a given region within one day, which allowed the client to meet their tight timetable and yet provide an unforgettable experience for their Candidates. The client was then able to use the information resulting from the assessment to provide valuable behavioral feedback to hired Candidates, as well to create targeted training for the first day at work, as opposed to having to wait months for a manager to determine their strengths and development needs.

The Solution Benefits

E-valuation™ is a top-shelf web-based simulation solution that is scalable, cost-effective, highly realistic, and engaging. Our clients enjoy exceptional Return-on-Investment with E-valuation™ and view the process as a market differentiator for recruitment, selection, and professional development. E-valuation™ virtual assessment centers create a realistic “day in the life.” Through the simulation of a series of job-related activities in a fictitious organization, participants test drive a job while employers test drive the participant. Simulations are designed to replicate important elements of the actual job responsibilities, work environment, and culture. During the simulation, trained assessors observe and evaluate participant performance against role-specific competency models. Our assessments help our clients pinpoint the most qualified Candidates for selection and develop outstanding talent. All recommendations are documented with competency-based feedback reports. E-valuation™ identifies strengths and developmental opportunities, which can then be fed into actionable development plans.

Benefits to this client include:

• Selection of highly qualified employees in a short timeframe
• Low cost / high impact selection process using an assessment center, the industry's top-shelf selection method
• An exciting, dynamic process for Candidates that provides a market differentiator for the client
• The opportunity to see the Candidate actually perform, rather than simply hear them talk about what they have done or would do
• A realistic job preview for Candidates, resulting in reduced turnover die to a better understanding of the role before taking the position
• Astounding corrected predictive validities of .85

Benefits of E-valuation ™ Technology-enhanced Assessments:

• Delivers personalized assessment materials, enhancing realism and motivation
• Simulates today's technology-influenced work environments
• Is competency-based and readily customizable for a wide range of competencies, positions, and simulations
• Affords central control with local implementation – can be delivered anywhere in the world that has an internet connection and a telephone line
• Provides strategic HR recommendations and customizable individual behavior-based reports
• Provides all the benefits of a traditional assessment while offering substantial cost savings

Candidate Reactions
To determine the degree to which the program addressed the needs of both Gen Y'ers and the client, we included a post-assessment survey to gauge Candidate reactions (see Table 1, next page). Survey results indicate that:

• The simulation experience increases Candidates' desire for the role
• Candidates regard the simulation as a realistic job preview
• Candidates have a positive impression of companies that use a process like this one
• Candidates have better understanding of the position after the assessment than before

Table 1: Candidate Reactions

Sample comments from Candidates:

• I realized what it takes to make contact with strangers on the phone. Coming into the assessment I was nervous about my ability to do so, mostly because of a lack of experience. But, as I got going, it actually became fun!
• My biggest take-away from this assessment was how important client interaction is with this job. I found it very interesting that a large part of my success as an FA depends on the interaction with the client, as well as trying to get people interested in the company. I had a lot of fun doing this because it allowed me to see what it would be like to be a financial advisor.
• I really enjoyed this assessment once I got the hang of it and look forward to this as a career.
• I discovered through this assessment that I would enjoy the daily life of an advisor. The activities of calling on leads and scheduling appointments were satisfying and I could see myself doing this for a career. There was a great sense of achievement when I scheduled a time to meet face to face with someone. I understand this career has many challenges and I look forward to engaging in those.
• Actually being in the role was a huge take-away. I have worked with financial advisors but nothing can prepare you for the conversations that you will be involved with in the course of a day as a real life FA.
• I took away from this assessment a better understanding of how to be a financial advisor. It is a completely different experience when you get to interact with mock leads and a system of organizing your day to day activities.
• The challenges are there and I can see the difficulty, but this only inspires me to rise above and make the most of the relationships I can have as a financial advisor.
• I'm going to love this job!

Conclusion

To meet the needs of Generation Y selection Candidates, our client, a global financial services firm, implemented an E-valuation ™ web-based assessment center process during their super day recruiting events in 13 regions across the US . The process was designed to provide a market differentiator for the client and enable them to see how their Candidates perform in the role, while giving the Candidates the opportunity to experience the job firsthand and determine fit.

As a result of implementing the process, they were able to keep costs low, meet their hiring goal quickly with the best possible Candidates, and provide the Candidates with an engaging, memorable experience. The process increased Candidates' understanding of the role of Financial Advisor and increased their desire for the role, as well as giving them a positive impression of the client.

*CareerBuilder 2007 Survey

To learn more, contact us at info@fenestrainc.net