All recruiters are after the same goal: to find, hire and retain the best talent. The big question is whether a tool that supports this exists. Well, we at Indivizo are glad to provide an answer. It does. How do we know? Because we created it! And some of our clients already report a 4x better retention rate as a result of using our system: a 100% flexible, end-to-end platform that helps you measure candidates’ potential and competency in an objective, data-driven way so that you can fulfil all your recruitment needs. Sounds great? Read on to find out more and learn how it can help you elevate your hirings to the next level.
The Great Challenge
Though it might sound cliché, it is indeed true: our world keeps on speeding up and so does the job market in it. Newer and newer professions and roles are created day by day, and traditional schools simply cannot cater for their needs. Furthermore, the changes affect our personal lives as well: we do not only switch between workplaces at least once in every 7 years on average, but going for a completely different profession in just every 3 years is either not an uncommon decision anymore.
Get ahead of the game
By now we all know that it is certainly not enough to screen CVs, rely on a single interview or our gut-feeling when trying to find out about our candidates’ knowledge and skills. But checking their background by looking at their social media profiles will not give us enough evidence for spotting the best talent either. As HBR states it, “assessing people for complex positions is inherently difficult for several reasons, including the unique and changing characteristics of many jobs, the challenge of assessing intangible traits, and the time constraints of many candidates”. On the other hand, “improving the quality of assessments is three times more profitable than increasing the size of the candidate pool — and six times more profitable than getting the chosen candidate to accept a lower compensation package. A good assessment yields more than a good candidate — it can actually improve the company’s bottom line and market value in a very significant way.”
Then what should we do? For a start, recognise that the need for useful information demands the objective measurement of our candidates to avoid bad hiring decisions. But what exactly to measure and how? Now, that’s what we can help you with: potential and competency are the keys to face the challenges of recruitment successfully. They help us understand precisely what is required for a certain position and which candidates have what it takes to meet those expectations.
So what is a competency?
Simply put, it is the ability of an individual to do a job properly. Thus competency is the combination of observable and measurable knowledge, skills, abilities and personal attributes that contribute to enhanced employee performance and ultimately result in organisational success.
Know what to look for
Of course, each and every position has its own unique competency-set, but a number of studies show that there are some that help the workers of the 21st century succeed in their job easier. Namely, these are the following:
Critical Thinking & Problem Solving
Adaptability and Managing Complexity
Risk Taking Tendency
Teamwork & Collaboration
Productivity & Accountability
Creative Thinking & Innovation
Flexibility & Adaptability
Discover underlying potential
Now that we know about competencies, we need to turn to our candidates’ potential. There are five key indicators that can help you predict your applicants’ future in the organisation:
Motivation: do they have collective or selfish goals?
Curiosity: are they open to learn?
Insightfulness: can they suggest new possibilities based on existing information?
Engagement: can they communicate a persuasive vision and connect to people?
Determination: are they ready to fight for their goals even in a challenging situation?
Here are a few questions that will do good service in finding out more about these:
How do you react when someone challenges you? How do you invite input from others in your team? What do you do for your personal development, to broaden your thinking and gain new experiences? How do you foster learning in your organisation? What steps do you take to seek out the unknown?
So far so good, but how is it all related to the holy grail of recruitment?
Based on all of this we can conclude that the central challenge — the holy grail — is to find a solution for screening and measuring competence and potential. And in the next part of this series we will show you how.