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How personality testing can help develop your employees

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The personality tests are created to help you get to know yourself, establish a solid group environment, and to grow professionally and personally. Small businesses often utilize personality tests in a certain way, and I’m always awed with the outcomes. Financial planners, particularly will benefit from these tests.

If you’re a solo practitioner, various test results will help you improve your skills with clients and identify your preferred work habits or areas where you may be able to delegate work to someone more suited for the job. If you’re operating a large financial planning business test results will help you manage your team as well as make hiring decisions and much more.

What are the benefits for Personality Testing?

Personality tests do much more than just provide you with an understanding of how you behave day-to-day. They can help you gain more understanding of who you really are, and this means digging deeper to uncover your work preferences, working habits and energy cycles, as well as your interpersonal abilities, strengths, and weaknesses. These tests also aid to understand how you perform in times of stress, or determine the most suitable career path in the field of financial planning which is in line with your goals and interests.

The value of personality tests is in solo businesses as well as for larger teams. However, I’ve noticed that teams generally gain more value from personality tests when they are focused on how they can work as a team, and solo professionals are likely to gain the most insight into how they interact with their clients.

For Solo Practitioners

I enjoy assisting clients who are sole practitioners to reflect on their own. The more you know about your own self, the more you’ll be in a better position to develop an enterprise that inspires and fills you with joy. It will also help you to meet the needs of your ideal customers when you know how you can best engage with people, react to criticism, or even communicate. You could even offer your clients an assessment of their personality, or a value assessment which will help you identify the person you are and what your objectives are and how your interactions to them best meets their requirements.

For Teams

The management of an advisory team isn’t easy. If you are putting different personalities in the same room, you’re opening your self to conflict. Conflict is normal and so it’s constructive, I do not have a problem with it. But, minimizing conflict that causes harm and miscommunication as well as workplace tension is something all financial planning teams can agree on. The tests for personality can be beneficial.

If you let your team take a personality test as a group, and then review your findings, you’re starting an exchange. Together, you’ll gain knowledge:

Who is every team member?
What are their strengths?
What they should complete to replenish (and the frequency they will need to perform it)
Their strengths at work
How do they can communicate
What they prefer to communicate to
What they want from interactions with colleagues
What do they expect from themselves in their professional roles
What are they looking for?
What do they do to respond to criticism and conflict

There’s more.

Discussions like these accomplish certain things. They also confirm how each member of your team is feeling about them. They also inspire everyone in your group to take a look at themselves and find out more about their personal qualities, what they’d like to know and what they would like to do to help the entire team out in a positive manner.

In the second place, personality test exercises can improve understanding between colleagues. Knowing who everyone is and what they excel at and where their weaknesses are allows for more grace and understanding in workplace conflicts and professional interactions and permits more meaningful connections to be built. This results in more productivity and more positive workplace interactions.

What Personality Test Should You Test Your Personality?

It’s as if there are billions of personality tests all over the internet, and each when I check, I see an exciting new program that claims to be amazing and unique it is. Personally, I’m fairly certain that the majority test are excellent. However, in the interest of certainty, let’s look through some of the ones I’ve used, witnessed in the field of financial planning or read rave reviews of.

Insights Discovery

Insights Discovery is currently my most loved personality test which is why I recently became certified to conduct it for firms! Insights Discovery is based on an easy formula:

Applications + understanding = breakthrough

The authors of the test of personality believe encouraging self-awareness in the team, and then applying the knowledge you’ve gained to your workplace can lead to greater efficiency, productivity and positive working environment. The test aims to help create stronger interpersonal interactions within your company as quickly as you can, which is something I am a huge fan of. I’m not a huge fan of personality tests that simply take them and ignore them. They’re designed to be utilized!

Participants in Insights Discovery will gain knowledge about:

Their enthusiasm
How do they make their decisions
How they share and receive messages
The most effective way to communicate with team members using the latest information

Insights Discovery provides a fantastic deep exploration that is perfect for teams looking to increase their communication and efficiency to ensure maximum effectiveness and impact. I enjoy it as an instrument for developing leadership skills as well as a method to create an improved working environment for teams (even when you have contract employees!) because it’s comprehensive and designed for the workplace.

The test also is focused on the importance of self-awareness as well as growth. isn’t a single-minded process This is the reason I feel that many other personality tests fail. Insights Discovery is a test that encourages continuous changes and applications to encourage your business (and employees) to realize their full potential. They assist you as a business manager simplify your programs and adjust your procedures to better match the needs that your employees have They also encourage team members to propose changes and help create an environment that supports their progress. In the end this is an incredible program.

DISC

The DISC assessment is based upon getting a better understanding of the people’s behavior. It is a good fit when working in teams since it focuses on the ways to improve your abilities to work with other people, as well as how to manage your behavior in the workplace.

A few of the items DISC includes include:

How do you handle conflict?
What is it that motivates you?
What is it that causes you to stress?
How do you deal with the problems
How can we facilitate better communication?
How do you recognize the behavior needs of others to enhance the team’s environment

DISC is highly focused on teams. However I believe it could be a viable option for the solo practitioner. Instead of being focused on how you interact with your colleagues instead, you’d be looking at the impact of your actions on your contract or freelance workers and clients. It’s still a valuable information but the analysis is certainly more targeted at larger teams in the workplace.

The test is comprised of four main personality types: dominant, Inspiring, Friendly, and the cautious. Certain assessment companies change the names in a slight way. For instance, “dominant” might be “directing.” In any case the behavior patterns that fit these personality types are generally similar across the board. Every personality type is assigned a set of descriptive words, such as people-oriented, outgoing, reserved or focus-oriented. This is among reasons why it could be useful for financial planning professionals who have a large team. Knowing how each member of the team behaves can be a huge help in any particular circumstance.

Kolbe A Index

Kolbe A Index Kolbe A Index is a slightly more detailed than some test for personality you could take, but it’s specifically designed for the workplace, which could prove useful. Kolbe Corp believes that once you’ve completed the test your results will not alter because, at the core your identity is who you are.

If you study the Kolbe A Index, you’ll be able to:

How do you make your choices
Your natural strengths and your instincts are
How can you reduce stress?
What is your “action method” is
How do you best solve problems?

The action modes are the ones that attract the majority of users into The Kolbe A Index, and with good reason. The four modes for action include Fact Finder followed by Following Through, Quick Start, and Implementer. The index identifies the level at which you are at in each mode, which allows you to discern whether you need to respond, counteract or initiate actions. The strengths associated with every action mode are to explain how, maintain, innovate, and restore.

The benefit the appeal of The Kolbe A Index is that it is a perfect balance between self-reflection and outward-looking team perspective. Being aware of how you should behave in any particular scenario is beneficial, as well as knowing how your colleagues behave in the same situation is also helpful.

For instance, if you have a person on your team who is rated highly in the area of implementing ideas and tasks well and another team member who is rated highly for their ability to innovate and is a great innovator, they could be a great match. However If your entire team is made up of individuals who are constantly innovating and aren’t keen to keep or implement, you could be in trouble with your hands.

Get in touch with Test Group Assessments when searching for a team workshop personality test.

It’s also worth checking out The Kolbe B Index and The Kolbe C Index. Both of these programs are accessible for teams that want to take their game up a notch. It is the Kolbe B Index can be utilized by teams to determine the way they view their responsibilities as a team. This could reveal areas of tension and miscommunication within the workplace.

Kolbe C Index Kolbe C Index was created specifically for business leaders and supervisors to determine the things they think a particular job is about, which is useful in creating job descriptions, or when comparing your own personal tendencies to the expectations you have for your job as their supervisor.

StrongFinders (Now CliftonStrengths)

CliftonStrengths is an Gallup test that is designed to be a complete personality test. It’s built on a set of 34 themes and it highlights the top five. Each theme will focus on a characteristic that you are naturally inclined to such as accountability taking initiative, thinking strategically, achieving outcomes, or even the ability to learn.

CliftonStrengths concentrates on:

Discovering who you really are
Finding your strengths
Helping you gain a better understanding of your weak points
Learn how to increase your potential
Concentrating on what makes you special
Take action to increase your performance

CliftonStrengths is more than in providing actions items for students to take action and take action on. The test is designed to not only provide information, but also encourage people to make improvements and do something about it. The bottom line is that that’s all you’ll get from an assessment of your personality that is actions. Self-reflection and personal development are both essential however, they’re not as beneficial if you simply look back at the knowledge you’ve learned about yourself, and not take the next steps to make improvements!

I am pretty sure that solo practitioners as well as team-based practices could profit from using CliftonStrengths. Although it could appear as it’s designed to assist team members improve their communications skills and concentrate on the strengths of their members, CliftonStrengths offers an in-depth assessment of every person that it could be helpful as a single advisor.

Myers-Briggs

It is the Myers-Briggs Type Indicator (MBTI) personality test is among the first psychometric tests. With sixteen personality assessments, the test is focused on what makes you. It’s not as focused on corporate teams or even workplace teams however that doesn’t mean it any less important.

The MBTI analyzes:

Your actions
What do you prefer to concentrate your attention (outer world or your inner)
How do you handle the information
How do you make your decisions
How do you manage the world outside and how you your interactions with others

Although the MBTI is a great tool however, it has some negatives. It’s based solely on self-reports that are honest and also how people see themselves can affect the results. It’s not the 100% accurate tool, which means you may get an individual personality type that isn’t quite your real self. If you’re looking to dip your toes into the waters of personality tests for yourself or your team, this test is definitely worth a glance.

Selecting Your Test

There are numerous personality tests to choose from that it could cause your brain to spin. There are advantages to each and you’ll benefit out of it regardless of which test you select. In order to get the most value from your experience, it’s a good idea to know the reason you’re taking the test at all. If you’re an individual seeking to better understand your stresses and your communication style If you’re searching for something different from a large group of financial planners who are working to improve their communication and make the most of their strengths.

As an owner of a company you could utilize a personality test in many different ways and may be searching for different traits every time. If you’re taking a personality test with your existing team, you’re probably hoping to improve communication and increase performance. If you’re employing it as a recruitment tool, you’re probably trying to understand your applicants and how they will work with your current team.

If you’ve specific reason why you’d like to utilize an assessment of your personality for your company You’ll be in deciding on the right personality test that provides you the information you’re seeking and the depth of analysis you require.

Determine When and How to Apply Them

You’ve decided to go with the idea of a personality test. That’s great! Self-discovery is an effective method to enhance your performance of work as well as your living quality. Many financial planners with whom I meet about understand the importance of self-reflection and taking personality tests to enhance their team’s communication, or to build stronger relationships with their clients. However, there are many options to use the test to determine your personality in your financial planning practices and I’d like to ensure that you’re not wasting your time! If you have the resources to utilize, you may be able to get the best amount of value.

When You’re Recruiting

Personality tests play a significant part in the hiring process. Understanding a candidate’s strengths, weaknesses, and work preferences from the beginning will help you make the right choice for your staff.

On the other hand of the side, personality tests can aid in determining whether your position is suitable to the person applying. If you are aware that the duties that are required will make your candidate unhappy and unhappy, it could be beneficial to guide to a different path (within your guidelines or not) that could be more suitable and result in a happier employee.

A warning: if you decide to take an assessment of your personality that is longer than you’d like, perhaps not send it out to candidates until they’re further along in the interview process. You don’t want to turn off applicants who are qualified by having them go through a lot of hurdles before they’ve seen the job posting. It’s also essential to determine whether your selection of personality test is suitable for hiring purposes. Insights Discovery, for example it states that workplace preferences don’t necessarily correspond to performance at work and that they do not need to be used for hiring purposes.

When Building Teams Building

Group building exercises that focus on personality tests can be from my experience extremely enjoyable. In addition to the fact that your employees learn more about themselves, but they gain insight into their colleagues each day. Together, they’re able develop unique solutions, roll out processes that recognize the strengths of everyone and work together to move everyone towards the same goal: the effectiveness of the method. It’s really cool to watch the team members respond to each other by recognizing their individual needs, altering their communication style or even taking care of themselves in a way that allows them to be present and be their best each day.

As Training

I enjoy testing your personality as a way of training for leadership. Your new recruits who may be thinking of being a partner as well as managing members of the team, could benefit from understanding the more they know about their personality, communication style, and the way they manage. They could also take the personality test to discover how the personalities of others may interact, which can help them become a better manager over time.

to spark discussion

What is it that a new employee isn’t fond of? The idea of telling you how they’d prefer to work. If you employ full-time employees or work with many 1099 contractors, the new team members aren’t very vocal about what they’d like their workplace to appear like. The awkward boss-employee dynamics could get in the way and employees may be concerned about voicing their opinions too often as they’re just beginning their journey. It always irks me because, as a matter of fact the more you are aware about what your team’s needs the more effective practices you can develop.

Take a look at the personality test solution. Numerous personality tests specifically designed to allow employees to explore and share what their ideal workplace will look like. Tests on personality can help users to recognize their own strengths, the tasks they excel at and the areas in which they’ll should work on their skills.

Utilizing personality tests for new employees can help close the knowledge gap and encourage them to talk about their expectations of their new position in your company. It is also possible to use tests for personality to trigger conversations when you conduct performance reviews. This can help start an open discussion about what’s going well, or not working well with their performance.

What are the Downsides of Personality Testing

We’d have been remiss if did not discuss the negatives of personality tests here. In particular, I’d like to ensure you are aware of how to not use personality tests as part of your routine. The first and most important thing to remember is that you shouldn’t use personality tests to distinguish from one another in any fashion. Period.

The second is to be cautious when you utilize tests of personality in your training. While they can be extremely helpful in helping you to understand your worth and areas where you’re lacking and assist your team to connect and become better in their work, they can cause polarization and even harm. Let’s take a look at some situations where using personality tests did not go as planned.

Situation One: An Disgruntled Workplace Friend

It is important to conduct a team-building personality test to promote the development of your team rather than blame and blame. When your group is having trouble to work together in a coordinated manner, they may require more structured direction when it comes to applying the knowledge they have obtained through personality testing. We do not want Advisor 1 to blame Advisor 2 for never being an innovator , when Advisor 1 is tasked with all the management and work.

Scenario Two: Homogenizing Your Hiring

The final thing you’d like to do is refuse applicants with a high-quality resume simply because their personality isn’t exactly a match or even a compatible match with your own. You shouldn’t hire the same group of people. Financial planning methods benefit from a broad spectrum of thoughts and ideas. This means you should hire a wide variety of personalities for your team and providing them the tools they need to work efficiently.

Scenario Three: Stagnation

If you’re a solo entrepreneur You don’t want to be pushed to the limit after discovering how you’re viewed and working way of working. If you’re a business owner, you do not want your employees to blame their actions on their assessment of personality You’re not following up with my actions quite as well. Sorry, I’m not an extremely clear and direct person. I’m not trying to offend everyone at work.

This could be considered labeling, and is something you’d like to stay clear of. It is not possible to take the results of an assessment of personality as labels or as a way of avoiding. Instead it is best to use them as clues that can help you adapt and connect, not to identify someone’s identity, and then not adjust your personal identity as a result. It’s more than the result of the personality test! Even if you’re a certain “type” of individual, you could just be a person who possesses those traits. There’s always something more under the surface.

The purpose of using personality tests as part of your financial planning process is to promote growth and progress in your career. While it’s tempting that this is a natural outcome of learning how you think and your work style but that’s not always the case.

What’s Next?

Personality tests can assist teams and individuals achieve incredible things. They’re not the magic wand to help you solve communication issues, improve your relationships, or improve the way you plan your finances. Personality tests are only one step in the process. They should become part of wider strategy.

Make time to create an implementation plan and then get everyone to be involved. Even if you’re a single practitioner, if you’re working with contract workers and contractors, discuss with them the outcomes of your test and what you’re planning to do to shift working styles or behaviors to enhance your effectiveness. Being clear about the way you would like to use an assessment of your personality to modify the way you conduct business, change your behaviour, or alter relations is essential to ensuring that you make the most of this powerful instrument.