Pandemic changed how companies hire — it moved from looking for specific skills rather than proven competencies in a particular industry as companies saw the gap in their skill pool. The As remote work became the norm, people began to reskill and upgrade themselves.

Consider this, PWC’s The Future The following are some examples of how to use Work According to a report, two out of every five people believe that traditional employment will not be available in the near future. Instead, people will have their own ‘brands’ and sell their skills to those who need them. In In fact, most people see themselves more as members of an organization or network of professionals than as employees of a specific company.

Skill-based hiring versus industry-based hiring

SkillThe’skill-based hiring’ approach looks at the candidate’s entire skill set. This is a factor that crosses verticals and industry boundaries. IndustryAs the name implies, -based hiring is based on an individual’s industry experience, previous job title and educational or vocational qualification.

IdeallyA good hire will have a combination of both industry-based skills and knowledge, but it also depends on the role for which you are looking to hire. For For a job in tech, experience and education are more important than qualifications. But for a job that requires creativity, experience and aptitude are more important.

Also Read: Why HR tech will make Asia’s next unicorns

EmployersMore and more, they are hiring on the bases of skills, rather than on the completion of advanced degrees. This The result has been a greater ability to hire across industries, and to fill roles in demand more efficiently. HoweverThis has also resulted in people being unemployed, because their experience does not count for much if you don’t possess the necessary skills.

Before It is essential that when an employer begins the process of hiring, they take into consideration the pros, and cons, both for skill-based, and industry-based, hiring.

Do You want to have a talent pool that is diverse?

The Companies, whether or not they are tech-based, seek out talent who is adaptable, resourceful and resilient. Tech Skills are in high demand and can be easily transferred across industries and sectors, while experience within the same industry requires upskilling.

For When HR evaluates people based on their skills instead of previous work experience, it creates a diverse talent pool within an organization, which can lead to better problem solving in a time of crisis and the introduction of new ideas.

Considering When looking for top candidates, it is important to find people who have the same experience. These individuals know the pitfalls to avoid, the best ways to motivate their team, as well as how to bring in soft skills like the ability to communicate efficiently and quickly.

Do Do you have the time to train?

According JPMorgan has been featured in an HBR article Chase They added US$350 millions to their US$250million plan to upskill the workforce. Amazon The company invests more than US$700,000,000 to upgrade the skills of their employees. PwC will spend US$3 billion over the next 3 to 4 years to train all its 275,000 employees.

Digital Transformation, tighter budgets and rising inflation has led to companies cutting back on training budgets. With the demand to ‘hit the ground running’, HR is looking for people who come with the required skills when joining a company.

Also Read: Are you a human resource?

HoweverMany organisations still make an effort to train existing staff, as they possess the industry knowledge and are equipped to turn a crisis into something positive when equipped with improved skills. This It also helps to ensure that your employees are loyal and progress in their careers.

Which How important is it for your company to have the right skills?

On LinkInOne can observe an increase of 21% in the number of job advertisements that advertise skills and responsibilities, rather than simply listing qualifications and industry-specific needs. However. Future The following are some examples of how to use Work Trends 2022 report says that 69 per cent of companies value a person’s curiosity and willingness to learn more than their degree and experience. Though Although technical expertise is more valued today, it’s also important to assess whether an organisation is looking to hire on the basis foundational and transferable skill sets.

While In evaluating candidates, employers are increasingly looking at the degree and experience in the industry as a hygiene measure instead of hiring based on skills and qualifications.

With It is more important than ever to assess candidates based on their skill sets. While Experience is a must for top management and middle management. However, the companies are also looking to hire people who possess the necessary skills at the junior level.

Going In the future, it’s a foregone conclusion that skill-based hires will outnumber industry-based ones. But it will also lead more to upskilling existing employees within a business.

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