Psychometric app launched for Scots finance sector

Psychometric app launched for Scots finance sector

A SMART-PHONE application which employs psychometric analysis to help school-leavers and graduates identify jobs to which they might be suited within the Scottish financial sector has been developed by major companies operating in Scotland in collaboration with technology giant Apple.

The MyCareerPath “app” has been developed by Scottish Investment Operations (SIO), an industry body with a membership which includes financial services heavyweights HSBC, Morgan Stanley, BNY Mellon, Barclays Wealth and BlackRock. SIO is launching the application in the wake of research which, it says, shows many people do not understand what a job in financial services involves and have an “unnecessarily negative perception”.

Users of the MyCareerPath tool, free to download on iTunes, are asked to complete a questionnaire which determines the presence of professional qualities and characteristics including leadership, teamwork ethic, sociability, organisation and responsibility. Questions will include what the respondent would do at a friend’s barbecue.

The “app” then pairs the skill-set of each individual with particular roles in the financial services industry and sets out the qualifications required to get there.

Commenting on the rationale behind the launch of the application, SIO said: “Research conducted by SIO identified a continuing challenge in identifying people suitably equipped to work in financial services.

The study, ‘The Employability Skills Challenge’, said there was an issue with many people failing to understand what a job in the sector entailed, with many having an unnecessarily negative perception.”

Last year, SIO introduced the first professional qualification for investment accountants. A distance-learning version, administered in Scotland, is now available to investment industry professionals in the rest of the UK, Eastern Europe, and India.

Alan Thornburrow, chief executive of Edinburgh-based SIO, said the MyCareerPath “app” and the continuing development of vocational courses were instrumental in helping employers recruit properly qualified staff.

He said: “Choosing your career is one of the most important decisions you will ever make. You can take advice from careers advisers, parents and friends, but ultimately it’s down to you. If you’re still undecided, MyCareerPath can help you make up your mind.

“All you have to do is to answer a series of simple questions. On the face of it, they might appear to have nothing to do with work but they’re designed to reveal your true professional abilities and motivations.”

Mr Thornburrow added: “One of the questions asks what you would be most likely to do at a friend’s barbecue. Whether you’re helping people with coats and drinks, standing in the background chatting with friends or at the frontline flipping burgers tells a lot about your professional inclinations.

“If you’re suited to working in financial services, MyCareerPath will tell you. It can then put you in touch with people who can help you land your dream job. If you’re not suited to the industry, it could save you the time and effort of finding out the hard way.”

John Hogg, a director of investment management group BlackRock and chairman of SIO, said: “The ‘app’ can help identify quickly and efficiently whether someone is suited to working in our industry. It’s a novel approach, using the latest interactive technology to assist us in recruiting the best possible candidates for each role”.