We’ve all been there. We send our carefully crafted CVs for a job application only to never hear about it again, as if no one ever read it. Do you know how long it takes recruiters to read our resumes? It turns out this feeling isn’t unfounded: according to recent studies, recruiters take no longer than 8 seconds to read a CV. Is it even possible to elaborate a resume that wouldn’t be so short-lived? Such a statistic, albeit frustrating, gives us a valuable hint. Recruiters can only do it so fast, regardless of fairness or the lack of it, because they look at specific points of the resumes. Enter skill-based hiring.
Defining the Concept
College degrees are still handy in the job market, but they’re no longer the game-changers they used to be. Market demands change as fast as new technologies emerge. In this context, a degree earned years ago might look a bit outdated without training courses and specialisations in between. Gradually, recruiters have been shifting their attention to experience and skill and giving less importance to formal degrees. Skill-based recruitment is often referred to as “the death of the degree,” a nickname backed up by numbers. Indeed, the result of recent research by Pearson Business Schools doesn’t do any favours for new graduates. According to the research, less than 15% of new graduates are ready to enter the job market right after completing their studies. That’s why recruiters won’t spend too long to read your academic achievements. Instead, they’re looking for specific abilities and experience. Such a subjective approach to recruitment has been made possible by new technologies like top-notch recruitment software and AI.
Talent Hunting
Not all talented professionals have a diploma, and not every graduate professional has talent. Above all, companies are looking for talented professionals who can adapt quickly to new market demands. Skill-based hiring is a huge step forward for companies that can choose from a broader pool of options and for active professionals who now have a fighting chance for the job they want. It also responds to pressing issues like the lack of workforce in technical and digital industries. Even though this recruitment method is more effective and inclusive, it requires a solid strategy to be successful. Recruiters must have a clear picture of the abilities they’re looking for and advertise it clearly. It’s also vital to have a skill assessment method that brings out the features the company is looking for in a candidate. Simulation tools and micro-credential activities can give valuable insights to recruiters.
Challenges
The impact of skill-based hiring methods goes beyond the interview room, and it’s also challenging for those hiring. Companies need time to define the set of capabilities they’re looking for and prepare interviewers to watch out for them. A misstep in the planning process can result in a mistaken selection. Additionally, the company needs to deal with internal tensions regarding equitable pay. For instance, professionals who were hired based on academic achievements can resent the fact that ungraduated professionals are receiving the same salary. While this hiring method promotes inclusion and diversity, it requires an equally diverse and inclusive business culture to thrive. Otherwise, the company risks not bringing out the best in its employees.
Redefining Excellence
Despite technological developments, what companies need from their employees hasn’t changed much. Instead, new evaluation methods have been refined to see beyond resumes filled with degrees. Academic achievements are still relevant, but not more than market expertise and know-how. AI tools and advanced recruitment software are instrumental in this new evaluation process, making it much faster and more reliable than traditional methods.
