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pan to Offer New Recruitment Screening Solution
October, 2003 – Performance Assessment Network, Inc. (“pan”) and The Procter & Gamble Company (NYSE: PG) today announced an exclusive licensing agreement that brings to market pre-employment screening "biodata" tests originally developed for internal use by P&G. The tests have been a key to P&G's ability to recruit and select top employee talent and will now be available to other corporations seeking to improve their hiring success.
"Biodata powered by P&G marries pan's unique internet based testing with P&G's proprietary algorithms that correlate test results to subsequent success on the job," said pan CEO David Pfenninger. "Now companies can leverage the same best-practices in personnel selection used by P&G, a company renown for the outstanding quality of its employees."
Biodata is biographical and personal information that is useful in selecting prospective employees because it is predictive of valued outcomes like retention and job performance. Assessments can include questions in a variety of areas such as life and work experiences, accomplishments, interests, aspirations, habits, attitudes, preferences and beliefs. Biodata assessments have a long history of successful use for employee selection and are considered by many industrial psychologists to be among the best selection tools available.
"P&G is on the cutting edge of useful and innovative Web-based employment screening," commented Bill Reina, director global recruiting and staffing for P&G. "Biodata powered by P&G is one of the first P&G intellectual properties in the human resources area to be offered for external markets. We have confidence that pan will develop the full potential of the biodata tests as effective tools for other enterprise users."
About pan
Performance Assessment Network, Inc. ("pan") is the leading provider of Internet-based testing and assessment solutions with over 5,000 registered corporate, government, and education customers internationally. pan manages professional online assessment programs and titles for dozens of test publishers, corporate clients, and government organizations, administering hundreds of thousands of tests annually. pan also manages a national network of high-stakes testing centers in addition to its internet testing platform, IT professional services, and product distribution businesses. pan is the distributor of online tests for over 40 top commercial test publishers, and also provides consulting for customers requiring in-house test development. Closely held pan is based in Carmel, IN, USA.
About P&G
Two billion times a day, P&G brands touch the lives of people around the world. The company has one of the largest and strongest portfolios of trusted, quality brands, including Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Bounty®, Pringles®, Folgers®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Actonel®, Olay® and Clairol Nice 'n Easy®. P&G's External Business Development organization is charged with ensuring the company maximizes the value of its "treasure trove" of patents, technologies and know-how by selling and licensing these technologies. The unit is also responsible for licensing select P&G brand trademarks. For more information, please visit www.connectdevelop.com.
Contacts
pan
Kathy Pugliese
317-566-3270
Kathy@panpowered.com
P&G
Martha Depenbrock
513-983-5366
depenbrock.mw@pg.com
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