The business of business is... purpose
Korn Ferry Institute’s Signe Spencer and Guangrong Dai explain how the way organizations frame their purpose can impact their performance.
New research reveals that putting candidates through leadership simulations adds tremendous accuracy and insight to Korn Ferry assessments, making them 96% better at predicting future on-the-job performance.
To gauge the value of simulations, Korn Ferry correlated 642 individuals’ assessment results with subsequent job performance reviews. If the assessments had included just interviews and tests, they would have been 18% more accurate than the average (calculated in a peer-reviewed 2007 meta-study of 26 assessment centers). When simulations were added to the mix, the Korn Ferry assessment validity jumped to 96% above the average.
Further, virtual leadership simulations, which can be done online and by phone anywhere in the world, are equally effective as in-person, on-site simulations.