Why Go For Competency-based Sourcing?
In contrast to traditional recruitment methods that focus on education and experience, competency-based recruitment focuses on the skills and abilities an individual possesses. Since more and more companies are looking for specific skills and abilities rather than simply hiring those with the right degrees or work experience, this method of sourcing has become increasingly popular.
It is especially useful in industries with rapid change, where traditional education and experience may not be as relevant as they once were.
Companies can also assess a candidate's potential for growth and development by using competency-based sourcing. The company can identify individuals who have the ability to learn and adapt to new processes and requirements, and who can contribute to the success of the company. Companies can hire individuals who are well-suited to the challenges of rapidly evolving workplaces, which can be especially important in industries that undergo a lot of change and innovation.
Competency-based sourcing not only benefits companies but also job seekers. It allows individuals to highlight their unique skills and expertise through focusing on specific capabilities that are relevant for the job. This can be particularly beneficial for those who have acquired their skills through non-traditional means, such as on-the-job training or self-study, and may not have the traditional qualifications like a college degree.
As the trend of competency-based sourcing is expected to increase in the future, it's important for companies to consider how they can use this approach to find candidates who will not only fit the job but also stay and succeed in the organization.
Resumes have shown to be unreliable and carry inherent biases. Recruiters aim to identify the most qualified candidates for the job. A top candidate is not only one that can perform the job, but also one that will remain and excel in the organization. To address the main factors that contribute to high turnover rate, how can you ensure high retention and engagement through your recruitment process?
We’ve got a few ideas:
> Improving the recruiting funnel
Increasing the quality of applicants from the get-go, which helps you pick out the best of the best, is an excellent way of driving company growth for both the short and long term. Planning a strategy for bringing more qualified talents to the top of the funnel will create access to stronger decision-making and hiring choices.
> Competency over career history
Spotting a successful candidate is best achieved through job-related performance rather than reviewing traditional resumes. Resumes will never be as objective or relevant as a recruiting method that involves qualification based on competencies. A resume might paint a picture of an extremely desirable candidate, but the reality and matter-of-fact performance will determine their true value in the present, and more importantly, in the future.
> Manage high turnovers
If you are experiencing high turnover in your organization, taking a second look at your recruiting process is extremely important. Consider implementing a process that assesses candidates based on performing job requirements before being hired so you can determine if the candidate is a good fit, and thus, more likely to stay.
> Create belonging
When employees feel valued by their company and feel like they belong, they are less likely to look elsewhere to find something better. If their days are fulfilling, they feel seen and acknowledged, and they care about where they are, they will have a sense of meaning and reason to remain with the company.