Business
Psychometric Tests in Recruitment: How to prepare for it
A candidate's mental capacities, IQ levels, and aptitude can be evaluated with the help of psychometric testing. It is a sort of test often employed in the recruiting process.
Verbal reasoning, situational judgment, logical reasoning, and numerical reasoning are all examples of various types of exams that an employer may use to evaluate a candidate's potential performance on the job.
Every examination offers a one-of-a-kind viewpoint on how an individual shows a certain talent or capacity. Let’s take a look at why recruiters use psychometric tests and how job-seekers can pass them.
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Why Psychometric Tests are used in Hiring Process?
Nearly three-quarters of European businesses now use psychometric testing as part of their recruiting procedures, making it one of the most important aspects of the recruitment process. Why do employers, recruiters, and those in HR leadership roles highly emphasize personality barometers? Here are the most vitals of them:
Job Performance Analysis
The most accurate and reliable predictors of work success that are available today are psychometric tests. In fact, these tests are nearly 14 times more accurate in predicting job performance than the typical selection interview.
Psychometric exams, a standardized testing technique, are a very effective way of predicting how well a candidate would do in their new position. This is because psychometric tests are standardized.
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Organizational Performance
It has been discovered that the use of psychological testing in the workplace can lead to the following outcomes in the workplace: increased employee retention, increased organizational performance, decreased employee turnover, reduced absenteeism, and higher levels of staff engagement and motivation.
Psychometric testing is the appropriate technique for guaranteeing that an organization has a high-quality staff and selects applicants who have the potential to be top performers. This is an absolute need for every organization.
Level of Convenience
Candidates may be given access to online psychometric exams with the touch of a button, either individually or in groups of up to a thousand. Consequently, the amount of time needed to complete psychometric testing is far less than that required for other selection procedures, such as interviews and assessment centers.
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After a candidate has finished their evaluation, the reports are automatically created and may be seen in a matter of seconds. The result will show whether the staff is required to make any more contributions. Because of this, psychometric testing is particularly well-suited for use in pre-employment testing, high-volume recruiting, and in human resource departments that are always busy.
Objectivity
It is possible to improve the selection process's level of fairness and objectivity by employing well-researched psychometric tests to choose potential workers. This paves the way for the selection of workers to be based on merit, using exams that are objective and standardized, as opposed to employing selection procedures that are subjective or prejudiced.
Unstructured questions are a prime example of a selection method that is not only subjective but also inefficient, and they have the potential to needlessly exclude high-performing individuals. A wonderful strategy to strengthen the fairness and objectivity of a selection process is to use selection tests that are fair, standardized, and valid. This helps organizations avoid legal issues over unjust selection judgments.
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How to Prepare for Psychometric Tests for Recruitment
Keep Four Focus on Your Assignment
Before you begin preparing for your forthcoming psychometric exams, learn all you can about the testing procedure. Many companies conduct a battery of psychometric exams, so understand which ones you must take, when, and where.
Investigate the Test Format
Numerous psychometric reasoning tests are routinely employed, including numerical, verbal, mechanical, abstract, diagrammatic, logical, spatial, and situational judgment evaluations.
Knowing the structure of the exam - how many parts, how many questions, how much time is allotted for completion - can make you feel more confident about the work at hand. It also implies that you know the time necessary to finish the exam.
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Refresh Your Memory on Details
Revisit your understanding of certain abilities that may be necessary to ensure you are properly prepared for your psychometric exam. It is advisable to review mathematical topics such as fractions, sequences, ratios, percentages, and basic algebra before taking a numerical exam.
Learn the Format of the Exam Questions
The problems in psychometric exams are often worded differently from those found in most other examinations. Taking the time to get familiar with the question style and subject presented will assist you in preparing for the timed exam.
Learn From your Errors
When taking practice examinations, evaluate your answers carefully and indicate any areas where you are losing marks. While it may be easy to just move on after a discouraging or bad practice performance, identifying your areas of strength and weakness is essential for good exam preparation.
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Consider Previous Test Experience
If you have previously taken psychometric testing, try to build on that experience. Consider what went well and ensure you have the circumstances and information to recreate your success.
If you had issues during a previous test, try to solve them immediately. If you struggled with test timing, work on improving and stabilizing your speed.
Check Your Technology
Psychometric exams are given online, most of which are done at home, unless they are part of an assessment center. Check that your internet browser is up to date before taking the exam.
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When running the live test will assist in verifying that there are no distracting problems with the screen format, button operation, or question loading. It is also advisable to ensure that the internet speed in the room where the evaluation will be conducted is enough to support the connection.
Pace Yourself
Although the number of questions and the amount of time allotted to each exam vary, all psychological tests are timed assessments. They want to see whether a prospective employee can operate quietly and correctly under pressure.
Because the questions in psychometric exams are all equally weighted, racing through them to the finish will be useless. In general, though, answering all of the questions will give you the greatest chance of a high score.
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To guarantee you can do so, calculate your working speed to prepare for the strain of the actual exam. Practice taking the exams until you can easily match the needed speed.
Recreate Examination Conditions
Limiting noise and interruptions while completing your preparatory exams can help you focus on answering the questions. If you are taking psychometric tests in a testing facility, simulating exam circumstances in practice rounds will ensure that the stillness is familiar and pleasant rather than deafening.
Conclusion
Though Psychometric Tests might seem intimidating, preparation and planning are the secret to success and earning a high score. Investigate the firm for which you are taking the Psychometric Tests. Determine their culture, values, and the kind of employee they are looking for. This will be beneficial in the Personality Tests. Then it's all about practice. Online practice with the Psychometric Tests can help you gain trust and get that job!
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Bangladesh’s foreign debt flow down by 24.38% in July-Aug: ERD report
The foreign debt flow to Bangladesh has decreased by 24.38 percent – to USD 86.43 crore – in July-August of the current fiscal year (FY), compared to the previous FY.
The latest report of Economic Relation Division (ERD) revealed that Bangladesh received USD 86.43 crore in the first two months (July-August) of the current fiscal year, which was USD 1.14 billion in the same period last fiscal year. It shows a decrease of 24.38 percent in foreign credit.
The fiscal year 2022-23 started with a jump in foreign credit flow in continuation of the last financial year. In July, the first month of FY 2022-23, nearly USD 49 crore in foreign debt came into the country which was 48.50 percent more than July last year.
But, in August it stumbled. Donors have written off USD 37.63 crore credits this month, which is about 23 percent less than the previous month.
Bangladesh set a record in receiving low-interest foreign loans in FY 22 in the global situation that was turned upside down by the shock of the Russia-Ukraine war after pandemic. Donors waived more than USD 10 billion in foreign credits in FY 22.
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The ERD, a wing of the Finance Ministry, released data on foreign credit waivers on Thursday, showing that USD 86.43 crore was received from donors in the first two months (July-August) of FY 23. Of them, project aid came to USD 83.29 crore. And the donation received is USD 3.14 crore.
During the same period last year, project assistance was USD 1.10 billion. Grants came in at USD 3.42 crore.
Bangladesh’s foreign credit continues to increase from the fiscal year 2017-18. In the same year, the foreign credit increased from USD 3 billion to USD 6.37 billion in one jump. Then in FY 2018-19, the debt was USD 6.54 billion.
Also read: Bangladesh well-placed among Asian nations in terms of foreign debt: LGRD Minister
Islami Bank scoops up 'Best Bank in Bangladesh' award
Islami Bank Bangladesh has won the "Best Bank in Bangladesh" honour at the South Asian Business Excellence Awards 2022 presented by the South Asian Partnership Summit.
Planning Minister MA Mannan handed over the award to Mohammed Monirul Moula, managing director and chief executive officer of the bank, Thursday at a Dhaka hotel, according to a media statement.
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Morshed Alam MP and Asha Jayamanne, founder and chair of the South Asian Partnership Summit and Business Excellence Awards, were also present.
Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic shariah.
Established in 1983 as the first Islamic bank in southeast Asia, it is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.
Yunnan has immense opportunities for Bangladeshi businesses: Speakers
Speakers at a discussion have said there are immense opportunities for Bangladeshi businessmen in China’s Yunnan province, which is two hours air travel distance from Dhaka.
The province's natural beauty also easily attracts travel-loving people of Bangladesh, they said.
They came up with the remarks at a program on “Colorful Yunnan” jointly organized by Chinese Embassy in Dhaka, the foreign affairs office (China) of the Yunnan Province, and the Yunnan Commercial Representative Office in Dhaka.
The program was held at Bangabandhu Bangladesh-China Friendship Exhibition Center (BBCFEC) in the capital on Saturday.
Speaking as the chief guest, State Minister for Cultural Affairs K M Khalid said, “Around 80 per cent area of Yunnan is hilly . There are thousands of varieties of flowers in the province and its natural beauty easily attracts tourists.”
Li Jiming, Chinese Ambassador to Bangladesh, said, “The distance between Bangladesh and Yunnan is not too much and it takes only two hours by air. The landscape, hills, diversified culture, and foods easily attract tourists.”
The program was organized to celebrate 73 years of the National Day People's Republic of China.
The culture and heritage, natural beauty, flowers, organic food, and many other products of the province were displayed at the function.
Governor of Yunnan Province Wang Yubo, Director of Yunnan Commercial Representative Office in Bangladesh Li Xiao, among others, spoke at the function.
Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback
Mobile financial services provider Nagad has brought a cashback offer of up to Tk 400 on Mastercard credit card bill payment.
To avail themselves of the offer, the consumers will have to save their Bangladesh Bank-approved Mastercard credit cards in the Nagad app, according to a media statement.
Cardholders can pay their bills through the "Bill Pay" option of Nagad by clicking on the "Credit Card Bill" payment option. They will get 1.5 percent cashback on two cycles or up to a maximum of Tk 400.
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The cashback will be disbursed in two cycles. The first cycle, which started on September 21, will continue till October 20.
A 1.5 percent or a maximum of Tk 200 cashback can be availed if one saves or pays the bill from a newly saved Mastercard credit card.
Later, the second cycle will run from October 21 to November 30, 2022. During this time, if a customer pays his bill from a Mastercard credit card, he will get 1.5 percent cashback or a maximum of Tk 200.
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A consumer can get cashback only once from one bank card in a cycle. But they will get this benefit again in the new cycle.
Customers can avail of this facility from multiple banks' Mastercard cards in the same cycle. And in that case, the consumer will get a maximum cashback of Tk 200.
Nagad Chief Business Officer Sheikh Aminur Rahman said: "Paying Mastercard credit card bills through Nagad will be a hassle-free process for the consumers. We hope consumers will no longer have to wait in queues at the banks to pay their bills."
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US-Bangla Airlines wins Best Domestic Airlines award
Country’s Leading private airlines US-Bangla Airlines received “Best Domestic Airline of the Year-2022” award for its consistent quality service in air transport sector.
Besides, US-Bangla Airlines also received Silver Award in ‘Best Regional Airline’ and ‘Best On-time Flight Departure’ category and Bronze Award in ‘Best Economic Class Food’ category.
The Bangladesh Monitor, one of the travel related fortnights of Bangladesh, awarded US-Bangla for maintaining stability in-flight service, number of passengers on domestic routes, on-time departures, number of flights and increased connectivity in the country's air routes.
Managing Director of US-Bangla Airlines Mohammed Abdullah Al Mamun received the award from the Chief Guest of the ceremony, State Minister for Civil Aviation and Tourism, Md. Mahbub Ali were present at the award giving ceremony held on Friday in the capital..
Mohammed Abdullah Al Mamun, MD of the airline, said all recognitions US-Bangla Airlines received are a reward for the confidence of the passengers.
Earlier, US-Bangla Airlines was awarded 'Best Domestic Airline' by Bangladesh Monitor, Pacific Asia Travel Association (PATA), Bangladesh Chapter "Airline of the Year" in 2016.
Ban on display, sale of tobacco products on passenger ships demanded
The leaders of Bangladesh Inland Waterways (Passenger Carrier) Association (BIWPCA) strongly demanded the speedy passage of the amended draft of the Tobacco Control Act.
The leaders of the organization made this demand in a joint discussion with the Dhaka Ahsania Mission on Saturday at Purana Paltan.
They observed that smoking is now permitted on many cruise ships. Apart from this, the display and sale of tobacco products continue on boats.
“As there is no direct obstacle in this regard in the law, the parties concerned are not able to take necessary measures”, said Senior Vice President of the organisation Alhaj Md. Badiuzzaman Badal while presiding over the meeting.
Abdus Salam Mia, Grants Manager of Campaign for Tobacco-Free Kids Bangladesh, Vice President of BIWPCA Abul Kalam Khan, Director SM Abdul Jabbar, Members Md. Mamun Or Rashid, Abdul Qayyum Sheikh, Secretary Siddiqur Rahman Patwari, Dhaka Ahsania Mission Health Sector Deputy Director Md Mokhleshur Rahman were present in the meeting.
Several loopholes in the existing tobacco control law were highlighted in the discussion.
Abdus Salam Miah said that if the amended draft tobacco control law is passed, the gaps in the tobacco control law will be minimized.
Besides, tobacco use will decrease and new ones will be discouraged to take up tobacco. On the other hand, it will be possible to completely stop smoking in public transport including launches, he added.
NOVOAIR wins ‘Best On Time Performance’ award
Leading private airline NOVOAIR has received the “Best On time performance of the Year- 2022” Gold award in domestic flight operation.
The airline has also won a Silver award in the “Best Domestic Airline” category.
The award-giving ceremony was held at a hotel in the capital on Friday. Mes-Bah-Ul Islam, Head of Marketing and Sales of NOVOAIR, received the awards from Mahbub Ali MP, State Minister of Civil Aviation and Tourism during the event.
The awards were given based on the online survey of regular passengers organized by Travel and Tourism publication “The Bangladesh Monitor”.
Speaking at the program, Mes-Bah-Ul said that this recognition will encourage NOVOAIR to provide quality service in the future.
“NOVOAIR is committed to provide the highest level of service since its beginning. NOVOAIR has earned passengers’ trust for safe air travel and on time flight operation. Our commitment to provide passenger satisfaction and superior service will continue at all levels of our operations,” the marketing head said.
NOVOAIR is currently operating daily flights from Dhaka to Chattogram, Cox's Bazar,Saidpur, Jashore, Sylhet, Rajshahi and Kolkata.
Job Circular: 15 job opportunities in Walton
Walton Hi-Tech Industries has released recruitment circular. The organization has published this job circular for the recruitment of manpower for the post of 'Customer Relation Executive'. Walton will appoint 20 people in this position. According to the circular, anyone can join the posts subject to fulfilling the qualifications.
Educational Qualification: Graduation must be passed.
Salary: Salary for the post of 'Customer Relationship Executive' will be negotiable.
Job Type: Contractual
Application Age: The age of the applying candidate should be between 22 to 28 years.
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Work Place: Anywhere in Bangladesh.
Application Rules: Interested candidates can apply online. Click here for application details (https://jobs.bdjobs.com/jobdetails.asp?id=1086722)
Application Deadline: Interested candidates can apply online till 5th October.
Dedicated SEZ for US Companies: FBCCI seeks investment in ICT sector
The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has invited the US entrepreneurs to invest in Bangladesh‘s ICT sector after Prime Minister Sheikh Hasina declared to establish a dedicated economic zone for the US companies.
The PM made the announcement in New York at U.S.-Bangladesh Business Council meeting organized by the US Chamber of Commerce on September 22, said the apex trade body in a press release Friday.
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FBCCI President Md. Jashim Uddin said the USA should take the advantage of investing in Bangladesh, the fastest growing economy in South Asia, regional supply chains and its demographic dividend.
Bangladesh could also benefit from America’s expertise in research and service innovation, he said.
The FBCCI President said he expects that the relationship between the USA and Bangladesh will expand beyond the traditional areas and both sides would explore growing prospects in frontier technologies, robotics and block chain, space, bio-health, and others.
"At your request, Bangladesh would be happy to offer a dedicated ‘Special Economic Zone’ (SEZ) solely for the US investors," the FBCCI quoted the PM as saying.
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PM Hasina is currently visiting the USA to attend the 77th United Nations General Assembly.
The PM invited US businesses to invest in Bangladesh specially in 100 ‘Special Economic Zones’ (SEZs), and the several Hi-tech Parks.
With more than 600,000 freelancing IT professionals, she said “Bangladesh is the right destination for IT investments. Moreover, availability of young, skilled workers at a competitive wage is an added advantage”.