SOURCE: CorVirtus

January 09, 2007 07:00 ET

CorVirtus Applies Practical Solution to Nation's Labor Shortage

Company's Culturally Inclusive Hiring System Increases Pool of Qualified Job Candidates While Promoting Workplace Diversity

COLORADO SPRINGS, CO -- (MARKET WIRE) -- January 9, 2007 -- In answer to a growing need for workplace diversity, Colorado Springs-based CorVirtus announces the introduction of a new hiring assessment that will bring a marked reduction in obstacles that minority job candidates have traditionally faced through hiring tests. The new assessment will not only allow companies to increase diversity throughout their organizations, but will also mitigate the human capital shortage and ensure that incoming employees will be able to perform the required job at a higher level. The new assessment, already beta-tested, has shown a 10-20 percent point increase in pass rates among minority applicants.

The impending workforce shortage has recently become a key focus for many leading industries in the U.S., given that the economy is projected to continue growing without matching growth of the labor force. A combination of factors, including the large baby boomer contingent that has already begun to exit the U.S. workforce, has resulted in a scenario in which operators will have more jobs than people to fill them. According to the U.S. Bureau of Labor Statistics figures released in 2004, 18.9 million jobs will be added by 2014, but the civilian labor force is projected to increase only by 14.7 million in the same time period. This means that business owners need to carefully consider how they will be able to fill more than four million empty positions.

CorVirtus' new "Virtus Workplace Aptitude Test" (WAT) not only removes the more common barriers that have faced minority job-seekers in the past -- resulting in a notably larger pool from which hiring managers can choose -- but is also designed to be easily administered online, saving the hiring companies significant time and money.

"Populations of minority groups in the U.S. are growing exponentially, but employers continue to use assessments that may exclude qualified minority candidates from the workplace," said David Hyatt, CorVirtus President. "Given the impending workforce shortage in this country, we felt it was imperative to find a way for companies to increase their supply of qualified candidates. Engaging new strategies to ensure hiring tests are more culturally inclusive seemed like the obvious solution."

Pursuant to a number of studies showing that many minority groups were eliminated from the hiring process at the aptitude testing stage, CorVirtus began R&D on an efficient cognitive ability test that would improve on current tests by leveling the playing field for all socio-economic groups looking for a job. Understanding that many of these failures were a simple result of candidates' unfamiliarity with written tests, the company worked for three years to develop a test that would continue to accurately predict a candidate's ability to perform a job while removing those elements that were unwittingly excluding competent new hires.

The CorVirtus WAT mitigates the shortcomings of previous tests by incorporating more graphic elements than verbal elements in test questions, not timing the test and providing graphic examples up front, so that it's clear what the test question is asking and measuring.

The new assessment comes on the heels of other CorVirtus initiatives: In May of 2006, the company joined with The Multicultural Foodservice & Hospitality Alliance (MFHA) to unveil CorVirtus' "Standards of Excellence for Culturally Inclusive Hiring." The list of ten standards gives all business owners a clear set of guidelines to apply to their hiring protocols and the new WAT incorporates all of these guidelines into an assessment that can be readily administered online to give restaurant operators greater access to an already existing -- and sizable -- workforce. The first edition of the test is currently being rolled out to CorVirtus customers that use their management hiring systems. The WAT for hourly employees will be available in spring of this year.

CorVirtus, Latin for "core values," is a corporate culture and human resources consulting firm with more than 20 years of experience helping enterprise leaders grow their business through values, vision, character, and an eye toward selecting the very best candidates for the job. Their PFR™ Hiring Systems are some of their top human resources products, which they have provided -- either "ready-to-go" or customized -- to notable companies across a variety of industries, many Fortune 500s among them.

Built on two decades of experience and proven success, CorVirtus is a leader in enterprise growth solutions. Distinguished by values-driven strategies, CorVirtus offers comprehensive and proven approaches to creating competitive velocity to propel an enterprise to greater performance, growth and profit.

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