NEO-4FV (Normative Update): A Strategic Tool for Workforce Development

The cost of hiring the right employee for a position may be high, but the cost of hiring the wrong employee is even higher. Reports show that the cost of replacing a single employee can range from one-half to two times the employee’s annual salary. Beyond the monetary cost, employee turnover also leads to various issues, including: 

Whether turnover is voluntary or involuntary, it costs the company significantly to lose and replace an employee. The key to preventing turnover lies in maintaining employee satisfaction and hiring the right person for the job. Personality plays a crucial role in both of these aspects. By understanding an individual's personality traits, HR managers can make more informed hiring decisions and create a work environment that fosters employee satisfaction. 

Personality assessments, such as the NEO Inventories 3 (Normative Update) or NEO Inventories, provide valuable insights into an individual's personality traits, helping HR professionals identify candidates who are not only qualified but also have the right personality for the job. This article explores how these psychological assessment tools can be used during the hiring process and for general workforce development. 

What is Personality? 

We’ve all heard that someone “has a great personality” before, but what does this actually mean? Personality refers to the unique characteristics that make up a person and the ways that they think, feel, and behave. It affects every aspect of what we do as individuals, from how we navigate interactions with others to how we spend our alone time. Each of us has a personality, and these can be broken down into specific domains. The five major domains include: 

• Neuroticism (N) – Characterized by tendencies to experience negative emotions and feelings such as anxiety, worry, fear, stress, dissatisfaction, and guilt. 

Some people score higher or lower in certain domains than others, which is what differentiates our personalities from one another. Our personalities make us who we are, and studies show that personality helps determine behavior. 

How Does Personality Affect an Employee’s Success in a Specific Role? 

When searching for job candidates to fill a role, factors like experience and technical skills are often the first things considered. However, while these measures are important, they are not the only items that should be weighed in the process of narrowing down the pool of potential candidates. After all, two people may have similar education and experience, but they likely wouldn’t perform the same way in the actual role. 

That’s where the value of personality comes into play. An individual’s unique personality can be used to predict whether or not they may be a good fit for a specific job. Personality can affect all aspects of a person’s performance, including how they: 

• Deal with stress 

• Interact with others 

• Approach their work tasks 

• Manage their time 

• Handle leading others 

Using personality assessments can aid in identifying an individual’s potential strengths, weaknesses, and leadership qualities, as well as in determining if they have the ideal qualities for the given role. These assessments are designed to measure the respondent’s levels of personality traits like Extraversion, Openness to Experience, and Agreeableness. By having job applicants take these assessments during the interview process, it becomes easier to determine which candidates may be better suited to the role. 

How Personality Traits Affect Job Performance and Role Aptitude 

Conscientiousness has consistently been shown to be the biggest predictor of workplace success, which is why applicants that score highly in this trait are often selected over those who do not. Conscientious individuals tend to be responsible, hard-working, organized, reliable, and diligent. These qualities make them well-suited for roles that require attention to detail, dependability, and strong work ethics, such as project management, administrative positions, and roles in finance or operations. 

Other traits can help predict success as well, especially depending on the type of role. For example: 

Openness to Experience 

Openness involves being receptive to new experiences, using creative thinking to devise novel solutions, and preferring variety rather than a set routine. This quality tends to greatly benefit entrepreneurs and leaders who need to prioritize innovation, adapt to changes, recognize valuable opportunities, and seize the moment. 

Individuals who score high in Openness are likely to embrace creativity, new ideas, and change. They are often innovative and open-minded, making them ideal candidates for roles in creative industries, research and development, and positions that require strategic thinking and adaptability. 

Extraversion 

Many people in leadership roles display more traits relating to Extraversion. Extraverted individuals are sociable, talkative, assertive, and outgoing. They thrive in environments that require teamwork, public speaking, and networking. Roles in sales, marketing, and leadership positions often benefit from individuals with high levels of Extraversion. 

Agreeableness 

Agreeableness leads people to be cooperative and empathetic, which is essential for team collaboration and workplace harmony. However, it may also cause individuals to struggle with assertiveness, which is important for leadership roles. 

Those who are more agreeable are likely to be strong team players but may struggle with being assertive. Agreeable individuals are kind, sympathetic, cooperative, and selfless. They excel in roles that require collaboration, customer service, and conflict resolution. However, they may need to develop assertiveness skills for leadership positions. 

By understanding these personality traits and how they relate to job performance and role aptitude, HR managers can make more informed hiring decisions and better support workforce development. 

Using Personality Insights for Workforce Development 

Having an in-depth view of an individual’s personality isn’t just useful when deciding whether or not to hire them; it’s also useful for building a better company culture, increasing productivity, avoiding conflict, and preventing turnover. When you know more about the personalities of each team member, you can offer support in ways that best suit their needs. You can also understand who may be more likely to be affected by stress or unexpected changes, as well as who may eventually seek a leadership role that they would succeed in. With personality insights, you can empower employees to reach their goals both individually and collectively. 

The NEO Inventories: Your Key to Enhancing Workplace Dynamics and Preventing Turnover 

Personality is a powerful predictor of workplace success, but what you use to measure personality matters. With over three decades of valid and reliable use, the NEO Inventories are concise measures of four of the major domains or dimensions of personality and the most important traits or facets that define each domain. There are multiple versions of the NEO Inventories available, including two designed specifically for HR settings: 

Using the NEO Inventories for workforce development can provide HR managers and professionals with valuable insights into the personality traits of employees. By understanding these traits, HR managers can create a more supportive and productive work environment. Moreover, the NEO Inventories can be instrumental in preventing turnover. By using these assessments during the hiring process, HR managers can ensure that they are selecting candidates who not only have the necessary skills, but also the right personality fit for the role and the company culture. This alignment can lead to higher job satisfaction, better performance, and reduced turnover rates. 

In addition to hiring, the NEO Inventories can be used for ongoing workforce development. By regularly assessing the personality traits of current employees, HR managers can identify areas for growth and development. This can help in creating personalized development plans that cater to the unique strengths and weaknesses of each employee, ultimately leading to a more engaged and motivated workforce. 

Discover how your team can benefit from using the NEO Inventories today. By leveraging these powerful assessment tools, you can enhance workplace dynamics, improve employee satisfaction, and prevent turnover, ensuring a more successful and thriving organization.