Are you already engaged in skill-based recruiting?
The future of work is changing. In 2022, the World Economic Forum (WEF) conducted a study called "The Future of Work" among 10,000 people in China, Germany, India, the United Kingdom, and the United States. The study revealed that two out of five people believed that traditional work would no longer exist in the future. In China, this number was even higher, with more than half of the population holding this belief. One of the significant trends emerging from this is skill-based recruiting, where the focus shifts away from educational qualifications on resumes.
Shift from work experience to potential
Due to labor market shortages and automation, organizations are finding it increasingly challenging to find well-suited candidates for job vacancies. There is a lot of talk about a mismatch or a skills gap. The WEF predicted in their 2020 report that 40% of a professional's skills would change by 2025. We are currently in the midst of that transition. As a result, employers are not solely fixated on work experience or degrees but are instead looking at talent: skill-based hiring. The skill set becomes a better predictor of whether a professional will thrive in their organization.
Marketplace for skill-based recruiting
Traditional employment is gradually disappearing. Instead, individuals will have their own personal brands and "sell" their skills to those in need. People see themselves more as members of a particular profession or professional network rather than employees of a specific organization. This shift is also evident in the rise of talent marketplaces, which act as platforms where individuals can offer their skills for specific projects that require a particular skill set.
Are you already focusing on skills?
How much does your organization currently focus on skills? In this whitepaper, we will explain how you can shift the focus to skills within your organization and how an online academy contributes to this goal!