In the end, it's a crap shoot... Even their highest marker of validity is only about 50%. In the end, if you make it too hard in an employee market, you will have good to great candidates drop off... if you make it too easy, you will wind up at the bottom of the barrel. Market pay will also vary wildly and dramatically, and perception is equally varied. Where I work now, we have a small pre-interview code challenge..…
Here's the thing though: all these different tests aren't completely independent. You can combine a couple of them and get a criterion validity value of up to .65.
See https://books.google.com/books?id=IvKYhrXAfRUC&pg=PA198&lpg=...