Human Resources

Employment Simulations

They're the hot new trend in credit union hiring practices.

December 01, 2010
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By Joseph T. Sefcik, Jr.
President, Employment Technologies Corporation

"The caliber of tellers we hire today has increased tremendously. Now we're hiring the right tellers with the right skills."   --HR Assistant, IC Federal Credit Union

   Proven Results 

    25% to 45% reduction in turnover

    40% to 50% reduction in absenteeism

    30% to 40% reduction in training time

    15% to 50% reduction in job-related errors

    Up to 286% increase in sales/referrals

Realism Gets Results

Simulations aren't just for pilots and astronauts anymore. The use of simulation is becoming mainstream and progressive credit unions nationwide are catching the trend.  There's good reason, too. No other HR technology can deliver the value and results of simulation.

Highly realistic employment simulations consistently result in shorter training times, lower employee turnover, and an overall increase in performance and productivity.  These results don't happen by chance - they are a direct result of simulation.  It's easy to see why more and more credit unions are turning to simulation to hire and develop top performers.

What are Employment Simulations?

What comes to mind when you think of a simulation? Whether you imagine a flight simulator or a simulated ride at a theme park, the term typically evokes an image of a highly interactive, engaging sensory experience.  Employment simulations bring this "wow" factor to the workplace.

Employment simulations are not tests.  Typically web- or PC-based, simulations create interactive virtual workplaces that replicate key job roles.  Unlike employment tests, simulations immerse applicants in the job where they perform actual job tasks and solve real work-place issues.  While other HR tools may provide insight into a person's opinions or ability to take a test, only employment simulations provide a direct measure of performance.  As a result, employment simulations are proven to predict job performance with unparalleled accuracy.

What are the Benefits of Employment Simulations?

Realistic. There's a reason new drivers are given a short road test before they're granted a driver's license. While the written test and eye test are important, only the road test requires real performance behind the wheel. The road test is a simulation of a real driving experience.  The written test may show what a driver knows about driving, but only the road test proves whether he or she can actually drive.  Just like a road test, employment simulations let participants test drive the job and prove they have the skills to succeed.

Engaging. Employment simulations maximize the amount of information gathered in the shortest amount of time.  As a result, well-designed simulations typically double or triple the amount of information as compared to traditional tests.  When data input is increased by such a significant amount, the reliability and accuracy of predictions increase exponentially.  For example, simulations used for hiring often show increases in accuracy from two to four times greater than other test results.

Fair. Employment simulations create a level playing field where candidates are given an equal opportunity to succeed.  Because they are highly job relevant, employment simulations are proven to result in higher accuracy, more favorable applicant acceptance, fewer legal challenges, and less adverse impact than traditional employment tests.

How do Credit Unions Use Employment Simulations?

Credit Unions can use simulations in all phases of the HR process, including hiring, interviewing, and training and development.

Hiring.  When used for hiring, employment simulations give credit unions a competitive advantage by pinpointing top-performing applicants. Employment simulations achieve the highest level of accuracy in predicting performance compared to other pre-employment tests.  Simulations are proven to identify applicants who will perform better and reach performance goals faster.  By hiring someone with a stronger skill set, credit unions not only save cost, but they earn a much greater and faster return.

Interviewing. Employment interviewing is often an expensive, time-consuming process influenced by personal biases. Recognizing the inefficiencies of traditional interviewing, organizations are increasingly switching to simulated "virtual interviews," particularly for first round interviews.  Simulated interviews combine realistic avatar technology with structured behavioral interview questions and criteria to increase consistency, accuracy, and fairness.  Virtual interviews are available 24/7, expanding access to qualified candidates, overcoming time restrictions, and eliminating travel costs.

Training and Development.  Employee training and development is a natural use of simulations because employees gain experience performing the same tasks they will handle on the job. Simulations create a risk-free environment where employees are free to practice their skills, perfect their techniques, and perform for optimal results.  Consequently, employees require less training and are better prepared.  For new employees, simulations have shown to reduce training time by as much as 66%.  By shortening the learning curve, employers not only save thousands of dollars in training costs, but more importantly, they can also earn tens of thousands of dollars from increased productivity.

Discover how other credit unions are using simulation to hire, develop, and retain top performers. 

Click here to request FREE case studies.

What Results Can I Expect?

Due to the fact that simulations are so realistic and job-related, they consistently deliver superior results when compared with traditional employment tests.  The table below highlights typical results banks and credit unions receive as a result of switching to simulation.

   Before Simulation    After Simulation

    High rate of turnover

    Frequent attendance issues

    Longer training sessions

    Frequent cash handling and processing errors

    Fewer sales/referrals

    Average service ratings

    Unrealistic job expectations

    Frequent disciplinary and performance issues

    Higher hiring and training costs

    25% to 45% reduction in turnover

    40% to 50% reduction in absenteeism

    30% to 40% reduction in training time

    15% to 50% reduction in job-related errors

    Up to 286% increase in sales/referrals

    Increased service ratings

    Clear job expectations

    Fewer disciplinary and performance issues

    Lower hiring and training costs

Employment Simulations provide the highest return on investment. Credit Unions save thousands of dollars each year in turnover costs alone, not counting the increased savings due to shorter training times, fewer cash handling and processing errors, and increased sales/referrals.

Employment simulations are more than a trend; they are a proven tool for hiring the right people and keeping them performing at the top of their game.  With the power of simulation at your fingertips, your employees win, your members win, and you win.

Joseph T. Sefcik, Jr. M.S. Industrial/Organizational Psychology, is the founder and president of Employment Technologies Corporation. As a thought leader in simulation technology, Mr. Sefcik pioneered some of the earliest employment simulations for organizations such as The Coca Cola Company, Ford Motor Company, and the New York Police Department. For more than 30 years, his passion has been the advancement of simulation technology for personnel selection and development, and he is a recognized expert in optimizing organizational performance and productivity. He can be reached at info@etc-easy.com.

Employment Technologies Corporation (ETC) is the world's leading provider of employment simulations. ETC was the first company to develop employment simulations and continues to lead the industry in innovation, excellence, and value.  ETC offers a suit of award-winning EASy Simulations designed specifically for key credit union positions.  Discover how EASy Simulations can reduce costs, increase productivity, and transform your credit union.  Call 800.965.0882 or visit etc-easy.com.

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