5 Reasons to Adopt Skills Based Hiring in 2023
Published on February 4th, 2023
You are an organization builder. A key resource curator. You take pains to bring together the best of talent for your company, but as they join your company and start contributing, you find a lacuna between your expectations and their actual performance. While the common adage ‘hire for attitude and train for skills’ may have its relevance, an emerging company like yours cannot afford to spend a lot of training time and cost on a new hire.
This is where organisations need to rethink their hiring strategy. How do you ensure you hire the best fit for the job all the time? That’s a common question that has been around for ages. With enormous changes happening in the world right now, hiring based on what the candidate can readily apply, transfer and contribute is vital to survive and thrive in this new normal.
If you’re sceptical about compromising on degrees for skills, or wondering if changing your hiring strategy to a skill-based hiring is worth it, keep reading, We’ve got news for you.
What’s All the Hype About Skills?
Skills are purely learnt and applied by the individual, driven by their own motives and interest.
Skills are proof that the employee has put themselves through a new experience, resisted the temptation to leave, rectified their mistakes and applied what they learnt. People who think on their feet, are agile and adapt themselves are the most desirable employees for businesses. These are the people who can stand any change and take it up as a challenge to renew themselves.
85% of all industries prefer their employees to have at least one transferable skill and why is that, you ask? Keep reading and we’ll tell you:
Early Signs Of Skill Based Hiring
There have been instances of large corporations taking to skill-based hiring and adopting unique methods of doing the same.
The advent of the gig economy is a massive indicator of skill based hiring. Talent is recognised beyond the boundaries of education, curriculum, nationality or experience. If you have the skill, know the job and can get results, you can get paid handsomely. With this skill-based employment picking up pace, more and more people are starting to venture towards it.
In this scenario, it’s only wise to switch to a skill-based hiring and attract the best talent to come for you. Based on your priorities and needs, you may even consider hiring skill-based part-timers for your job roles, who constitute only a part of the cost you need to shell out for a full timer, at the same time deliver accurate results time and time again. This is, however, up for consideration based on where your business is and what your future plans are.
Importance of skills for a job rather than degrees is advocated by top companies through different measures: Google has introduced a skill test for hiring. Zoho has formed a university to train 10+2 students in the skill and absorb them directly into the company. EY, and IBM are also looking out for an alternate pool to find fresh talent with transferable skills.
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