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Hiring Interns
The importance of skills-based recruitment as the forward-looking strategy for firms
A number of companies are not free from recruitment errors: 70% of HR managers assert they have encountered difficulties or failures during the hiring process. This can be quite costly for organizations, particularly in industries that are experiencing rapid changes. In fact, a collaborative study by ManPower, HR Voice, and Open Sourcing has indicated that the costs associated with poor recruitment vary significantly depending on the level of the position involved. Therefore, recruitment managers urgently need to diversify their processes to ensure the company’s growth and guarantee the retention of new talent, thereby avoiding early attrition. This is where a more innovative recruitment strategy comes into play: skills-based recruitment. Also known as “competency-based hiring” or “competency-based recruitment”, this approach has been evolving for several years and is yielding positive outcomes on various levels. The aim of this article is to outline the limitations of traditional recruitment methods, define skills-based recruitment and its many advantages, and ultimately conclude with some advice on how to adopt this innovative strategy.
Talent acquisition is being revolutionized by skills-oriented recruitment:
To completely understand the advantages of skills-based recruitment, it is vital to know the definition of this concept. In contrast to conventional recruitment, which emphasizes theoretical knowledge, skills-based recruitment is centered on the skills, expertise, and interpersonal abilities of candidates. This approach enables a broader talent pool and uncovers the full potential of candidates. According to a 2019 US survey, nearly 60% of talent sourced through traditional recruitment underperforms after one year in the position. By focusing on skills such as technical knowledge, logical reasoning, problem-solving abilities, and emotional intelligence, companies can ensure they are making the right hiring decisions. This methodology is transformative in an ever-evolving environment. The diversity of job roles continues to expand, with new professions emerging that were not recognized a decade ago. Therefore, skills-based recruitment is crucial for those seeking candidates with the skills necessary to adapt to these new challenges.