The talent shortages that employers are facing around the globe are pushing them to rethink
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priorities. A recent survey showed that for executives, the most pressing emerging risk to business is a lack of qualified employees and candidates to fill existing roles.
The competition heats up
As business competes for the job seekers that are available (or willing to make a move), the balance of power has shifted dramatically. Business is no longer asking what an applicant can do for them: applicants are asking what a company will provide to them. Businesses are providing signing bonuses, relocation reimbursement, extended vacation and benefits and more, to add new hires to their rolls. And the trend doesn’t seem to be slowing down any time soon.
For most businesses, the prospect of offering deluxe benefits packages to new hires seems counter-intuitive. You don’t know if the applicant will even be successful in the role, why would you offer them a bonus just to try? But as market conditions continue to put the squeeze on business, these perks may become a necessity, rather than an option. For companies that have to assure every dollar of their recruitment spend is used wisely, gambling on whether or not that hiring bonus will be money well spent may be too risky.
Hedging your bets
For tech hires, the odds can be against the house when it comes to adding new staff. With so many employers looking to hire, candidates are often juggling multiple offers, weighing the risks and benefits of each. Business must be fast and decisive when it comes to hiring, but that can create even more problems.
For some, a tech hire may be uncharted territory. Many companies are expanding their business with some level of technology that will require an in-house staff member. Without specific skills, it can be difficult for HR and hiring managers to assure the candidate who looks great on paper is actually capable of doing what they say they can do.
The ability to evaluate the skills they actually possess, rather than those they tell you they hold, is key to making a fast hiring decision that’s good for the candidate and the business. Getting that job seeker off the market before a competing offer comes through is important. Making sure the person is the right candidate for the job is critical.
Trust but verify
Whether you’re a first time tech hirer, adding to an existing department or moving your company forward into the digital age, you’ll want to assure that every hire is effective. On average, it’s estimated 20% of new hires are bad hires that businesses will regret. Other data suggests almost half of new hires will fail within the first 18 months. With those odds stacked against you, it’s critical to make sure the hires you make are worthwhile.
That’s where Rankdone can help. Our prescreen applicant tests assure the candidates you meet are qualified to do the job, before you schedule a single interview. Rankdone testing scores job seekers qualifications, assuring the applicant meets all your hiring requirements. You can be confident in the hires you make, and the bonuses you offer when you make them, when Rankdone has verified their skill set. When job seekers ask what can you do for me, first make sure Rankdone has verified what they can do for you. Contact us today. .
