A recent report from LinkedIn looks at how Skills Based Hiring can increase your talent pool while democratizing access to opportunities.
At its core, skills-based hiring focuses on whether a candidate has transferable skills and the potential to learn on the job, rather than solely on previous job titles or employment history. There are still many roles that will require specific licenses or designations, but there is room to be flexible when it comes to experience in a certain industry.
According to the LinkedIn report, “a skills-first model means employers can gain access to a broad and qualified group of candidates with skills that transfer across industries, jobs, and geographies…The benefits of a skills-first approach to businesses extend well beyond the hiring phase and have notable impacts throughout the employment cycle. For example, LinkedIn data finds that investing in employees’ learning and growth is key to retention: Workers who have made an internal move at their organization at the two-year mark have a 75% chance of remaining there, compared to 56% for those who haven’t.”
If employers can access and mobilize the abilities and potential of their employees and future hires, they will be more resilient to change, boosting employee satisfaction, and improving retention.
We can help you assess the role within the broader context of your organization to find opportunities to expand your talent pool, all while keeping your ultimate goal in mind: the success of your team.