6 Excel Formulas Every Hire Should Know (And Excel FAQs)

Reading Time: 4 minutes Written By: Ken Crowell

Ken Crowell

What are the 7 basic Excel formulas?

The 7 essential Excel formulas are SUM, AVERAGE, COUNT, MAX, MIN, IF, and VLOOKUP. SUM adds values, AVERAGE finds the mean, and COUNT tallies cells. MAX/MIN return highest/lowest values. IF performs logical tests. VLOOKUP retrieves data across worksheets.

Excel is a key tool for most office staff these days. Mastering key functions in every role, from marketing to HR and finance, speeds up work rhythm and maximizes productivity.

As a hiring manager, you seek the perfect candidate with a solid grasp of admin and clerical skills like Excel’s essentials. After all, it’s not just about the simple Excel tasks, such as how to remove duplicates in Excel; it’s about efficiency and organization.

Candidates, regardless of their role, should have essential Excel skills to contribute immediate value to your company, avoiding the need for additional training.

This guide discusses the must-know Microsoft Excel formulas that transcend job titles. These insights will guide you to the ideal candidate. Find that perfect match and unlock their potential.

6 Excel Formulas and Functions Employees Must Know

From knowing how to separate names in Excel to creating a drop-down list in Excel, you can ensure the right hire and add value to your expanding company with these essential Excel formulas.

1. CONCAT()/CONCATENATE

For roles involving general admin and clerical work, competence with CONCAT() empowers potential candidates to efficiently organize and present information, enhancing tasks like data entry and report creation. Whether compiling names, addresses, or other details, knowing CONCATENATE streamlines administrative processes. 

Candidates showing this skill exhibit attention to detail, contributing to a more organized and effective workflow. This proficiency adds value across admin and clerical roles by showcasing their ability to cohesively handle data and enhance overall workplace efficiency.

2. VLOOKUP

Knowing how to use VLOOKUP in Excel is another essential skill for admin and clerical roles. For instance, candidates can expedite customer service responses by efficiently using VLOOKUP to cross-reference and extract client details from a vast database.

In financial roles, VLOOKUP aids in retrieving and validating transaction data. Mastering this formula allows seamless integration into diverse work scenarios, enhancing data accuracy and efficiency. Candidates with this skill are valuable assets in roles requiring precise information retrieval and management.

3. SUMIFS

Candidates proficient in Excel’s SUMIFS function, a valuable accounting skill, enhance operational efficiency within a company. This function allows them to aggregate and analyze data based on multiple criteria, providing insightful financial information.

For example, in an accounting role, a candidate might use SUMIFS to efficiently calculate total expenses for specific categories or departments, aiding in budgeting and cost analysis. Also, strategic decision-making in sales can benefit from using SUMIFS to track revenues from different regions or product lines.

By highlighting SUMIFS as an accounting skill, candidates showcase their ability to enhance overall operational efficiency by providing accurate data and contributing to streamlined financial reporting.

4. COUNT

Candidates who are adept in Excel’s COUNT function provide valuable insights by accurately counting numeric values or meeting specific criteria.

In inventory management, this function helps determine stock quantity and track items sold, enabling effective planning and minimizing stock-related risks. In customer service, candidates use COUNT to track the number of customer inquiries or complaints received, identifying areas for improvement.

The COUNT function streamlines company processes, from inventory management to customer service, improving data accuracy and informing decision-making. Competent candidates enhance overall operational efficiency and effectiveness using this function.

5. MAX and MIN

The MAX and MIN functions in Excel enable candidates to quickly identify the highest (MAX) and lowest (MIN) values within a dataset, providing valuable insights for making recommendations.

In sales analysis, candidates can help management find top-performing products or regions by swiftly using the MAX function to identify the highest sales figures within a specific period. Similarly, the MIN function can locate the lowest sales figures, highlighting potential areas for improvement.

Overall, candidates proficient in the MAX and MIN functions enhance the company’s ability to make data-driven decisions, optimize resource allocation, and improve operational efficiency.

6. AVERAGE

The AVERAGE function provides a key metric for decision-making by calculating the average of a range of values. Proficiency in this function shows recruiters and hiring managers that the candidate has a valuable skill for positions like sales and project management.

For sales positions, candidates can use this function to assess average monthly or quarterly sales performance, helping with forecasting and setting realistic targets. In project management, the AVERAGE function helps evaluate the average completion time for tasks, facilitating better project planning and resource allocation. 

Excel Interview Questions to Know      

Here are sample interview questions to help gauge a candidate’s Excel skills:

1. On a scale of 1-10, how would you rate your Excel proficiency, and can you provide examples of how you’ve used the platform in your previous roles?
2. What Excel skills (creating charts, sorting data, conditional formatting, etc.) do you believe are essential for this position? Why?
3. Walk me through a project or task where you used those Excel skills to solve a work problem.
4. How do you personally assess the accuracy of your data sheets or calculations?
5. How do you stay updated on new Excel features and integrate them into your workflow?
6. Can you provide examples of how your Excel skills have contributed to improving efficiency or productivity, either in your personal process or the company’s?

While these questions are great in initially assessing a candidate’s Excel proficiency, expecting accurate verbal answers for specific Excel tasks would be challenging. It’s not recommended to directly ask them how to make a pivot table in Excel, as verbal explanations may not fully reflect their abilities.

A Microsoft Excel skills test simulating the program provides a more precise evaluation of a candidate’s practical skills in real-world scenarios. Candidates may find a hands-on assessment more comfortable than hypothetical explanations. 

Unlock Excel-lence: Elevate Your Recruitment Strategies

Excel proficiency is a “must-have” for recruiters who need candidates capable of effectively managing data. With applicants taking practical tests, you ensure the selection of individuals with the necessary capabilities for their roles.

EmployTest offers pre-employment assessment tests like the Microsoft Office Skill Assessment for a reliable measure of candidates’ proficiency in real-world Excel tasks.

Even though AI abilities will be increasingly part of many company operations, Excel will continue to be a key business tool for numerous jobs. Using Excel testing for employment can help you streamline candidate assessments and hiring processes. They help in building high-performing teams that leverage both human expertise and technology for overall organizational growth and success.

Take a free sample test and learn how it can help spot skilled applicants who can take your company to the next level!