See the impact Wonderlic’s assessments can make to your hiring process in the next 12 months.
Median estimates and averages were collected through research by Wonderlic’s I-O psychology team. Benchmark figures can be used to calculate an average ROI, or you can input your company's specific figures to get a clear ROI of Wonderlic’s pre-hire assessments can impact your organization.
Calculate the cost savings of using a pre-hire assessment
See the impact pre-hire assessments have on turnover
Determine the time savings associated with using a pre-hire assessment
How did we calculate the results?
Reduction in Turnover
Reduction in turnover was found by taking your current turnover rate, or the national average of 25%(1), and subtracting Wonderlic’s voluntary turnover validation study finding of 8%(2). Wonderlic’s study found that only 8% of employees that scored high on the Wonderlic assessment left the company voluntarily.
Amount saved by reduction in turnover
The amount saved by reduction in turnover was calculated by taking the average annual compensation, using the Bureau of Labor Statistics salary average of $51,168(3) or the number input to reflect your company's average salary, and multiplying it by 150%(3), the number of employees you plan to hire in the next 12 months, and the current turnover rate. Then, the figures were calculated using the 8% turnover rate found via the Wonderlic voluntary turnover validity study and subtracted from the original figure.
Applicant screening time cost savings
The number of hours spent screening applicants was calculated by multiplying the number of applicants you plan to hire this year by the number of applicants who apply per role, and then multiplied by amount of time it takes to screen each employee and the HR generalist hourly wage. That figure was then multiplied by 50% (the number of applicants you can screen out using a pre-hire assessment).
Hours Saved by screening applicants with the Wonderlic Assessments
The number of applicants who apply per position, using a default average of 250(4), was multiplied by the amount of time it takes to screen each applicant(5), and then multiplied by the number of employees you plan to hire in the next 12 months. That figure was then multiplied by 50% (the number of applicants you can screen out using a pre-hire assessment) and then subtracted from the original figure to find the number of hours saved.