Making the right choice when it comes to selecting the right franchisee involves more than a gut feel.
As a franchisor, finding interested franchisees* comes easy, but the complexity lies in finding the right franchisee for your business while developing your existing franchisees to ensure their future success.
This is where psychometric assessments play an important role to assist you in making the right choices about who is the right franchisee fit for your business.
Why Are Psychometric Assessments So Important?
An assessment is an integral part of making sure you select and develop the right individuals in your franchising business. It provides you with a scientific view of the individual, so that you can objectively measure their key innate traits or characteristics that are suitable to the current role and business environment.
Assessments gear your business for future success and performance. If you don’t hire or develop the right individuals into your Franchise, you may:
- Lose revenue and not achieve your strategic and business aims.
- Focus on hiring the wrong Franchisee’s that don’t meet your Franchise or role requirements.
- Waste time and money spent on the recruitment process and training.
- Experience high staff turnover.
Research has shown that it’s imperative in our current economic environment to hire and develop Franchisees who are agile, adaptive, and resilient to survive and thrive. Selecting and developing those individuals who can showcase these characteristics, is not only going to help you succeed in your business but will assist you in solving problems that may arise in the Franchising business.
Assessments are not only used for recruitment of a Franchisee but can also provide you with great insight into the individual strengths and development areas that can inform required training.
Selecting or Hiring Top Franchisees
Occupational assessments are designed to provide the Franchisor with a reliable method of selecting the most suitable Franchisees. Assessments provide you with valuable information to help you to make decisions for selection, development, and promotion.
Psychometric assessments only represent one source of information and should never be used in isolation, but rather as part of a comprehensive recruitment process, including shortlisting based on experience and qualifications, as well as interviews. These additional sources of information are used to corroborate the information obtained from psychometric assessments.
Why Include Psychometric Assessments in Your Recruitment Process:
- They remove bias from the hiring process and provide you with useful insights into individuals that are difficult to accurately assess using other methods, such as an interview alone.
- They provide you with scientific insights into the Franchisee’s ability to meet the expectations of the role and potential to deliver the required results.
- They provide enhanced fairness. Every candidate is treated equally and compared on equal grounds.
- They provide improved predictability of future performance within that position.
How to Develop Your Top Franchisees
The information that you get from the assessment can be used to inform your training, management development and team building.
Franchisees who make a concerted effort to complete a personality assessment will gain valuable insights into their own strengths and development areas. This is especially important and helpful in a high-paced franchise work environment.
These assessments identify specific developmental areas aiding in the franchisee’s self-awareness, giving them a valuable platform for tailored development plans to help coach and optimise the franchisee in becoming a better entrepreneur in the franchise industry.
Why You Should Include Psychometric Assessments in Your Development Process:
- Assessments assist with identifying the strengths and weaknesses of new and existing individuals to help optimise training programmes
- Assessments assist with identifying the characteristics associated with the top performers unique to the Franchise. This can be used to optimise recruitment and training according to what works best in your specific Franchising environment.
- Provides insights into the individual’s personality, team, and cultural fit to your Franchise, which could play a big role in fit and long-term retention.
- Provides targeted development suggestions based on the candidate’s psychometric profile and requirements of the role.
- Improves predictability of future performance within the role.
Leveraging Specific Franchising Assessments to Measure Personality Traits
There are specific in-depth personality assessments that can be used by the Franchisor to help identify a Franchisee’s potential to thrive in different franchise environments. Measuring the attributes of a person that fit your current role and expectations is vitally important if you want a Franchisee to succeed in your business.
One such personality assessment can be used for selecting and developing new and current Franchisees, this is called the E-Test:
- This is a psychometric assessment tool designed to provide strategic insight into a prospective franchisee’s inherent entrepreneurial disposition.
- It reports on the traits and attitudes that have been shown to be relevant to success in operating various types of franchises and shows the individual’s best fit to different types of franchise systems.
By: ThinkSales Global – Chantal Snelling (Senior Psychometrist)