Pre-employment tests are being conducted by many companies. These tests range from background tests, drug tests, and many other forms of online skill tests. We are noticing that the most used ones are online accounting assessments.
A financial accounting test enables employers and recruiters to identify potential hires by evaluating working skills and job readiness. The accounting tests place high emphasis on numerical reasoning skills, as those are very crucial in ensuring a high performance in this role. Another area that is tested is the ability to quickly and effectively identify critical work-related issues and logically draw conclusions from numerical data (such as performance figures, financial results, and analysis reports). You will also be expected to show a strong capacity to monitor performance and progress using numerical metrics and performance indicators.
Depending on the position, you could also receive a combination of questions related to cash flow, dividends, inventory, accounts payable, property mortgage calculations, bank reconciliations, journal entries, accruals for properties, and bank transfers.
Pre-employment testing certainly helps employers, here are several pros to look at:
Objective and Subjective Tests
There is a large collection of tests available online. With more general tests, employers have the ability to evaluate broad knowledge of the candidate. Some of the specific tests, will assess the in-depth knowledge of the candidate. This helps eliminate candidates that don’t have the required skills and saves time and effort during the interview process.
Transparent Systems
Skill assessment tests have a standard set of questions. The candidates answers are auto-evaluated. Thus, the system is transparent, and the scores reflect an unbiased assessment of the candidate.
Cost Effective
The online skills tests help to cut down on the excess cost of monitoring and conducting tests on location. Candidates can take these tests from anywhere as long as they have internet connect. The travel and commute time is reduced. Candidates can save time, and employers don’t have to reimburse their travel expenses. Most of the online tests can be monitored while they’re taken, so this eliminates the need of in-person proctoring. This creates a more secure screening process.
Easy to Use
There’s some very user-friendly testing software made accessible for organizations to utilize. This helps the whole process for the applicant and the employer.
With an increasingly competitive job market, employers have begun to seek out new ways to screen applicants. Many employers will start with first doing the online testing, and if the results are satisfactory, they will move the application to the second round of interview. This saves both time and money in the long term.
Pre-employment tests aren’t for every job; however, in some areas, we are seeing online testing work very effectively. These areas include accounting, property accounting, auditing, and other financial positions to name a few. For companies that we have worked with in the financial space, this has resulted in reports of lower employee turnover while also saving them time and money in the hiring process.
If you are an employer looking to fill financial roles, we can recommend some good online assessments that you can give an applicant.
If you are an applicant looking for a financial role, do check out the several open financial jobs we have available. Several of them do require online testing.