Banking

Research conducted by McKinsey & Company focusing on banking employee selection methods concluded that personality traits account for 5-20% variance in performance. This means that hiring banking employees who have the personality characteristics needed to perform the job will result in a more productive work team. Furthermore, Mckinsey’s research also found that instituting background checks and personality assessment into a bank’s pre-hire process cut time-to-fill the position by half and reduced new hire turnover by 30 percent.