Case Study: Major National Consumer Lending Company achieves lower hiring and training costs and 100% high-scorer training completion with Criteria Corp's CCAT

Consumer Finance Company Uses CCAT to Lower Hiring and Training Costs

A major national consumer lending company needed to improve quality of hire and cut rising hiring and training costs after new federal regulations required loan officers to quickly learn and apply complex material. The company’s challenge was to reduce the high cost of trainees who failed an intensive 3–4 week program and did not pass federally mandated licensing exams.

To screen 105 incoming loan officer candidates the company used the Criteria Cognitive Aptitude Test (CCAT) and compared scores to training outcomes. CCAT scores were a strong predictor of success (r = .51, p < .05): all 49 highest scorers completed training and passed licensing, while only 9 of 20 lowest scorers (45%) succeeded. Completion rates rose steadily by score band (<19: 45%; 19–21: 68%; 22–24: 82%; 25+: 100%), so the company adopted the CCAT in hiring, cutting turnover and lowering hiring and training costs.