It is wisely remarked, “All that glitters is not gold”. The current methodology and process of hiring has often turned a blind eye to the meaning of this phrase. Companies and their hiring managers are often blinded by the fake glitter of candidates’ CVs and make mistakes by hiring them. This mistake costs the company dearly in terms of revenue and time.
WHAT CAN BE DONE TO IMPROVE THE QUALITY OF HIRE:-
Skills of a candidate must be the main parameter on the basis of which a candidate should be hired.
Before we further dive into the various types of required skill, we need to know its meaning first. According to the Oxford Dictionary, Skill is the ability and capability to do something efficiently.
Skills can be broadly classified into two types:-
i.) Technical Skills– It refers to the specialized knowledge and expertise needed to accomplish complex actions, tasks, and processes relating to computational and physical technology as well as a diverse group of other enterprises. In short, these are the specific skills required by the candidates to perform the job efficiently.
ii.) Soft skills– It refers to the skills of communication and effective social skills to thrive harmoniously in a work environment. All communication skills like social skills, interpersonal skills and Emotional intelligence come under this category.
These skills are extremely important for a candidate to be productive and get their job done efficiently and smoothly in the long run.
THINGS WRONG WITH THE CURRENT HIRING PRACTICES:-
Every job requires a certain skill set in the candidate to be more efficient and productive. To assess and judge a certain candidate’s skill set is often a time consuming and arduous task. On the other hand, the lack of time forces the hiring managers to fill up a vacancy in a rush.
Hiring managers often receive large bundles of CVs from their talent acquisition team and now he/she has the responsibility to evaluate each and every CV. Here due to time constraints, all the Hiring manager does is to look at the key points of the candidate’s CV like their educational qualification and their past industry experience. There is a lot of reliance and undue advantage given to brands like tier 1 pedigree or tier 1 consumer brands. However, that overlooks the key hiring principle that you hire for skills.
Often hiring managers get biased on the basis of past employment experiences. Hiring managers focus a lot on tier 1 companies; and assume that these candidates ought to be skilful. It isn’t necessarily true in all circumstances.
Sometimes educational qualifications are prioritized. Hiring managers are often attracted by the candidates who have completed their graduation from reputed educational Institution like the IITs, NITs, IIMs or other top institutes in India. A graduation from a top-tier university does not necessarily assure that the particular candidate is skilful in the job.
To top it all, many candidates often lie in their CVs to land them a job. In fact, according to a report by INDIA TIMES, “Nearly 10% of Indians lie in their CVs regarding their educational qualifications, past jobs and even their residential address.” On a global scale, nearly 25% of candidates fake their resume to get a job of their dreams.
In a nutshell, hiring managers currently focus a lot on the experience and educational qualifications of the candidate. While, there is nothing wrong with it, but it leads to inefficient hiring process and provide unsatisfactory results in the long run.
According to SHRM Human Capital Benchmarking Report 2016, “Average cost per hire statistics for companies is ₹3,05,000(approx)”. If the cost of hiring a candidate is so high, the chances of mistakes must be reduced in order to keep up with the company’s profit margins.
Instead of manually scanning resumes and verifying CVs, hiring managers can take help of technology based analytics platforms to evaluate a CV on veracity, technical skills and soft skills of the candidate. CVs are verified by industry experts in such scenarios and the chances of a mistaken hiring are reduced considerably. They also assess the skills of each and every candidate by taking interviews. It provides credible hires and is a very efficient process.
It can help save hiring managers a lot of invaluable time. At the end of this process, hiring managers receive pre-verified CVs and skilled candidates screened out by the experts. It’s a win-win situation for both the company, its management and the skilful candidates as well.