A foundational program offering certificates recently asked Kryterion a thought-provoking question:
When is the right time to build a high-stakes credential?
The (not so) simple answer is: When the market is ready for it. But, how can you determine if your market is, in fact, “ready”?
To answer this, Kryterion recommends assessing key market readiness indicators. These indicators help determine whether the time has come to launch conversations about building a high-stakes certification program.
Here’s how to interpret the indicators:
- 1–3 positive indicators: There’s some potential and it is worth monitoring.
- 3–5 positive indicators: Your market might soon be ripe for certification.
- 6 or more positive indicators: Strong evidence supports serious consideration of a high-stakes credential.
Let’s dive into the six categories of readiness indicators:
1. Market Interest Indicators
- Is certification becoming a standard in your industry? Are competitors or partners offering high-stakes exams?
- Do corporate clients inquire about certifications to validate the skills of employees or consultants working with your product or technology?
- Are complaints about the lack of qualified solution experts becoming frequent?
- Has an educational institution expressed interest in offering a training program based on your solution?
2. Product/Technology Maturity Indicators
- Has your product or technology achieved widespread adoption? Is it viewed as a market leader or standard?
- Is there a clear and recognized set of best practices or skills required for its effective use?
- Does your solution support an ecosystem (e.g., third-party developers, consultants) that could benefit from formalized credentials?
3. Organization Readiness Indicators
- Does your organization have access to psychometricians or a credentialing partner (like Kryterion) to design valid, reliable, and legally defensible exams?
- Are you equipped with a robust testing platform—such as Kryterion’s Webassessor—that delivers secure, scalable, and flexible high-stakes exams?
- Is your team prepared to adhere to regulatory and legal standards, including data security and accessibility requirements?
4. Brand Authority Indicators
- Is your brand recognized as an authority in its domain?
- Would individuals pursue your certification based on the strength of your brand?
- Are employers and organizations requesting credentials to identify professionals proficient in your solution?
5. Resource Indicators
- Does your organization have the resources to invest in exam development, marketing, delivery, and maintenance until the program becomes self-sustaining?
- Will your certification strategy align with broader business goals, such as market expansion or increased customer engagement?
- Can you quantify the size of your target market and project reasonable enrollment numbers for the first several years?
6. Candidate Indicators
- Is there a growing demand for individuals with skills related to your solution?
- Have members of your user community expressed interest in earning credentials that spotlight their expertise and advance their careers?
Start with Research That is Backed by Expertise
These indicators offer a starting point. However, any decision regarding the potential viability of a high-stakes credentialing program should be supported thorough research and data.
To explore this topic further, check out Kryterion’s expert resources:
- How to Market Your Certification Program: In this eBook, Dr. Leslie Thomas, Kryterion’s Chief Psychometric Officer, shares actionable guidance for launching a successful credentialing program.
- Top Mistakes New Certification Programs Make—and How to Avoid Them: This guide draws on insights from over 20 years of experience by Kryterion’s Psychometric Services Team.
These guides are packed with practical advice and hard-earned lessons to help you navigate the complexities of high-stakes credentialing.
Ready to take the next step? Download your copy today, and position your organization for success in the credentialing industry.
About Kryterion
Kryterion Inc. is a global leader in innovative testing and credentialing solutions, helping organizations across various sectors develop and manage their assessments with our advanced test development platform and multi-modal delivery solutions. Established in 2001, Kryterion offers secure, integrated services and extensive support, empowering candidates to demonstrate skills and achieve success in world-class careers.
