- Business psychologists have been around for years! Changes in major civil rights both in the UK and USA in the 1960s and 1970s, led to an explosion in the interest of psychological application in the workplace.
- Business Psychology is a science that uses complex, statistical techniques to evaluate research and support or reject findings in light of their statistical significance.
- Public sector organisations such as MOD, DWP, NHS and HM Prison Service are very large users (and employers) of business psychologists.
- Staff turnover through poor hiring decisions is ridiculously costly to organisations. In fact, a study by the REC in 2018 estimated this cost to be billions of pounds per year in poor recruitment with the wrong person being employed in 2 of every 5 roles.
- Shockingly, the wrong person employed in an average mid-management role with a salary of around £40k, costs the organisation £130,000 due to loss of productivity, retraining, recruitment costs etc etc……. And that’s just ONE role!
- Latest research shows that 85% of HR decision-makers admit that their company makes bad hires.
- 39% of employers admit that their interviewing and assessment skills for candidates could be improved.
- A wrong hire can damage the morale of the company resulting in loss of productivity, lower engagement levels, less confidence in the organisation, reputation issues, increased staff turnover.
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