758-Bring on the Skills
Episode Title: Bring on the Skills
Not embracing a skills-first approach to hiring can cause you to miss out on countless opportunities. Here’s why, next on The Perna Syndicate.
Ep 758 show:
Hello and welcome back to The Perna Syndicate. When candidates aren’t put in roles where they can succeed, everyone misses out. A skills-first hiring practice matches businesses with people based on their skills, rather than whether or not they have a college degree.
It makes sense, right? Businesses can hire and grow their workforce based on the specific skill sets they need. It’s all based on a candidate’s actual qualifications and experience.
This has created a major opportunity to level the playing field, especially for women. In occupations like technology, engineering, and construction, more and more doors are opening for women. Similarly, it increases the Gen Z talent pool by over 10 times. The effects could be massive in the United States, especially in areas where labor shortages are more pronounced.
Skills-based hiring also gives current employees the chance to apply internally for opportunities they would not have otherwise had. Such workers have a 64% chance of remaining at the company after 3 years. Similarly, companies that excel at internal mobility are able to retain employees for an average of 5.4 years. That’s nearly 2 times as long as companies that don’t prioritize internal growth.
I say, bring on the skills—and the sooner, the better.
Tomorrow on The Perna Syndicate: Does skills-first hiring push college degrees completely out of the picture? Not so fast! We’ll see you next time for that conversation.