Psychology professionals typically need a master’s degree in psychology and must be licensed to practice in their state, the U.S. Bureau of Labor Statistics (BLS) reports. However, a doctoral degree may be preferred by an employer and is the required education level to be a licensed psychologist. If business and IO psychology professionals do not possess a terminal degree—the highest degree available in a field—they must work under the supervision of a doctoral psychologist in clinical, counseling or research settings.
Increased productivity, improved service quality and advanced reputation management are some typical focus areas for a company using organizational psychology to boost its revenue. Generally speaking, business psychology professionals support these goals by providing insight into the perspectives and behaviors of employees and customers alike. This can give a business more direction when it is trying to adjust its strategies or offerings.
Business psychology professionals often approach their work through a combination of consultation and review. They provide businesses with best practices regarding target areas of concern and review current trends related to that area. The latter can help better understand and address a business’s unique circumstances and concerns. These efforts are often highly effective when approached properly as business and psychology are connected in many ways, both expected and unexpected.