Innovative Finance is an award-winning mortgage broker in Australia that finds capable and dedicated brokers to negotiate the best rate possible for their clients and match them with the right lenders. 

We spoke with Michael Gavan, the Founder and Director of Innovative Finance, to learn how People Dynamics assessments helped revolutionize their recruitment process, identifying and hiring the right candidates for the role who possess the necessary skills and align seamlessly with their company’s culture.  

Enhancing recruitment processes and culture fit 

“As recruitment is such a big thing in what we do, and we were looking at ways to get our recruitment better to make sure we have the right people who are going to fit in within our culture, have the right skills and capabilities, and have better success rates.” – Michael Gavan, Innovative Finance Founder and Director

According to Michael, prior to implementing our assessments, he and his wife, Emily, headed their recruitment and hiring. Still, they relied solely on traditional methods like resume screening and interviews. This approach often proved inadequate in learning a candidate’s true potential and cultural fit. Recognizing the limitations of these methods, the company sought a more comprehensive solution.  

Michael initially encountered People Dynamics through a third-party provider. Impressed by the quality of candidates they could identify and hire using our assessments, Michael recognized the value of partnering directly with People Dynamics. They were able to gain assessments tailored to their needs that provided them with data-driven insights into their candidates’ skills, abilities, and cultural fit, further enhancing their recruitment process. 

Data-driven decision making 

“We used People Dynamics Mental Ability Testing and Personality Test to identify candidates or shortlist them when we believe that they have similar and the same characteristics of other people within our team that will fit into the structure and the way we do things.” – Michael Gavan, Innovative Finance Founder and Director

Basic Mental Ability Assessment (BMAA) 

BMAA evaluates the cognitive abilities of candidates, and this helps them put the right people in the right roles for entry-level positions. BMAA measures the following skills: 

  • Verbal Ability 
  • Numerical Ability 
  • Abstract Reasoning 

This assessment provided an overview of their candidates’ communication, computation analysis, and problem-solving skills relevant to the role. This helped Innovative Finance to set benchmarks for competencies necessary to succeed in the role. 

DISC Personality Profiler 

Meanwhile, the DISC Personality Profiler helps identify candidates that best fit their culture. DISC Personality Profiler examines the behavioral styles of a candidate, namely: 

  • Dominance 
  • Influence 
  • Steady 
  • Compliance 

This personality profiler identified if the candidate aligned with the company’s values and would blend well with the diverse personalities of their current employees. Using the assessment resulted in identifying cultural traits that perfectly match their company’s work environment, completing their list of minimum hiring criteria. 

Solutions that helped boost employee retention 

“The biggest thing is we have hired the right person for the role a lot more than we did previously. At the moment, we have one person in the past three years leave the organization within two years. This tells us that we are hiring the right candidates with the right values and we are able to prevent and screen to make sure we’re getting the right person.” – Michael Gavan, Innovative Finance Founder and Director

Our assessments have helped Innovative Finance achieve several key benefits: 

  • Improved candidate selection – the assessments provided a more accurate and objective evaluation of candidates, enabling them to select the most qualified individuals.  
  • Enhanced cultural fit – identifying the candidates who align with the company’s values and work styles has strengthened their team cohesion and reduced turnover.  
  • Data-driven decision-making – gained insights into candidates’ strengths, weaknesses, and areas for improvement, allowing more informed decision-making.  
  • Streamlined recruitment process – easily integrated into the recruitment process, saving time and resources.  
  • Employee retention – attracted and retained top talent well-suited for their roles, which reduced turnover and increased employee tenure. This led to decreased onboarding, resulting in greater efficiency and cost-savings  

By understanding these aspects, Innovative Finance was able to go beyond the surface-level resume into the qualifications and potential of job applicants. The data collected through these assessments has enabled the company to identify high-performing employees and further develop strategies to enhance their productivity.  

Swift and exceptional delivery of support 

“Really fantastic to deal with. Whenever I have had a request or anything come up, really, really prompt, and I always got a response within a day. We obviously do not use all tests, but yeah, really knowledgeable across all of the tests.” – Michael Gavan, Innovative Finance Founder and Director

At People Dynamics, we strive to provide superior client satisfaction in everything we do. Michael emphasized his appreciation for our exceptional support and expertise regarding prompt responses and in-depth knowledge across all assessments.  

The positive feedback underscores our commitment to providing exceptional service, highlighting the clarity, efficiency, and meeting their specific needs. The seamless integration of our assessments into Innovative Finance’s processes further demonstrates our dedication to meeting the unique needs of our clients.  

Paving the way for future vision 

“I think, definitely, we are at this stage focusing on our new hires. I’m kind of always open to other tests for us to explore that is going to give greater insight. I think that’s kind of will be the future plan that I have got there.” – Michael Gavan, Innovative Finance Founder and Director

Innovative Finance is prioritizing the use of PDI assessments for new hires and firmly establishing its process. However, they remain open to exploring additional assessments that can provide deeper insights into candidate qualifications.  

As Innovative Finance moves forward, it will likely expand its use of assessments to understand better its workforce, talent management, leadership management, and enroll in our services again.  

If your company is seeking to establish a robust screening and recruitment process that aligns with your organizational culture, reach out to us to have access to our extensive library of assessments and other HR solutions that can cater to your needs.