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Pros and Cons of Online Pre Employment Assessments

Pros and Cons of Online Pre Employment Assessments, The most essential and crucial part of an organization is its human resources.

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Pros and Cons of Online Pre Employment Assessments

Sometimes we are thinking about how one organization is growing and, on the other hand, another rival organization facing losses. Finance is known as the lifeblood of the organization, but the only investment cannot run the whole organization. You need people to use that finance for the working of the organization.

The most essential and crucial part of an organization is its human resources. Human sources are the most critical asset of an organization. They can make or waste the company at the same time. So selecting or recruiting those human resources is the essential task to be done.

The organization should make every possible effort to choose the right person at the right job at the right time. Before hiring employees, the pre-employment test should conduct. The test of employment may vary with the job profile, required skills, and the vacancy. Every job profile involves some kind of different assessment tests.

For example, for the job of a web developer, you need to carry a coding test, and for a programmer, the programming test conducted, and so on. You have to mold the examination as per the requirements of the job profile. There are so many tests conducted before hiring an employee. Some of the tests undertaken are:

  • Attitude test
  • Aptitude test
  • Psychometric test
  • Programming assessment
  • Cognitive abilities
  • Coding test etc.

These following tests are conducted to test the skills, knowledge, and ability of the candidate. Doing these tests as a manual test or in the organization seems to be difficult nowadays.

You need to spend so much money on conducting these tests. You have to appoint expert judges specialized in that field, for which you have to pay fees. It also involves stationery costs, external costs, the cost of hiring, etc. you can avoid all such expenses by adopting the modern method of recruitment.

The new trend in the market is to hire employees using advanced techniques. The modern way is the online method of conducting recruitment etc. there are so many servicing companies available who help the organizations to hire employees online. They facilitate the recruiter with all the set up for conducting online tests. There are so many benefits of online assessment for the recruiter as well as for the candidate.

For the recruiter, the main benefit is it reduces the cost of recruitment, and he can hire anyone across the world. For the candidate, it is beneficial as they do not have to go anywhere else, and those who are so far away can also apply. Pre-employment tests are the tests which are conducted by the recruiter to check and assess his various skills relating to the job.

Everything comes up with a positive and negative side. If one thing is benefitted you, then it will have some cons too. The balance should be strike between those two, to maintain the company at par. So everything has its pros and cons; some of the pros and cons of the pre-employment are discussed as follows:

The pros of conducting online pre-employment test are as follows:

These tests are more objective than other types of assessment: The traditional methods of recruiting people involve analyzing candidates on an aggregate basis rather than job-specific. But online tests are conducted primarily to judge the candidates the job ability. The goal is to check the expertise, skills, and knowledge of a candidate related to a job. These tests should be designed in a structured form to avoid chaos. Well designed and formal assessment tests are more useful.

Traditional methods are the same for all: Earlier interviews conducted work the same for everyone. The same questions of basic knowledge ask almost everyone.

These are a more standardized form of assessment. But the online tests are not a standard form of analysis. Each test is different for different job profiles. They are the best in judging the candidate’s computer, programming, and coding skills.

Online tests save the time of the recruiter: These online assessments are known to consume less time while examining the candidate. Results produced automatically; no manual effort involved in judgments. It also protects the valuable time of the recruiter, and he can use that time for some productive work.

Strictly related to job: These are strictly and only related to the job profile of the candidate. These focus solely on the job criteria while designing online assessment tests.

Easy to use and operate: this online assessment software is straightforward to use and run by the recruiter. The results under these online assessments concluded very quickly. The languages used in these tests are layman’s language so that everyone can understand it.

There is the negative side of these assessments tests too. Everything has both pros and cons. Some of the cons of these online assessments are as follows:

Strict focusing on the job: This online assessment solely judged the job-related skill of a candidate. It ignores all the other factors or nature, personality, attitude of a candidate. You cannot decide the willingness to work of the candidate, maybe he knows everything, but he may escape from work, etc. these factors are ignored in this type of assessment.

Chance of fraud, duplicity, etc.: There is a strong chance of fraud in the case of online tests. The person giving the test and the person who joins the job may be different. Candidate can take the help of other people and sources while providing these online tests. That is why the chance of fraud is more in the case of online tests.

Other factors constraint: There are so many different factors that act as a constraint while conducting an online assessment or pre-employment tests. Other factors like limited resources, non-availability of power, etc. can be there in online evaluations.

The recruiter should keep in mind the various benefits as well as the demerits of conducting online pre-employment tests. He should focus on eliminating all the cons of these assessments.

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Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

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Navigating the Process of Selling Deceased Estate Shares

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

Accounting Write For Us Guest Post - Finance, Tax, GST, Economics, Banking

7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.

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