Making the right employee hire is crucial in any work field, whether it be for a start-up, corporation or the high-stakes and high-salary world of the NFL. Finding the right tools to predict the success of a candidate can be challenging in an age of information.
On NFL Draft day, the results from assessment tests already taken by college football players will be factored into draft picks. Football has been using assessment tests ever since legendary Dallas Cowboys' coach Tom Landry introduced the Wonderlic test — an IQ test designed around speed — to the NFL in the 1970s. The Wonderlic also has long been used by companies to evaluate potential employees.
"Typically, IQ tests take three hours, but Wonderlic managed to do a short [12-minute-or-so] version that is almost as valid," Tomas Chamorro-Premuzic, chief talent scientist at ManpowerGroup and professor of business psychology at University College London and Columbia University, told CNBC via email.
He estimated the entire workplace recruitment market at $200 billion and said the pre-employment assessment-testing industry is estimated to be worth as much as $2 billion. Roughly 90 percent of Fortune 500 companies use assessments to vet their employees.