What’s Skills-Based Hiring & Why is it Trending in 2024?

In today’s job market, employers who continue to hire for education, degrees, titles, and experience before skills, may be missing out on top talent.

 

For that reason, “Skills-Based Hiring” is gaining momentum in all industries including senior living and long term care.  It might even revolutionize the way recruitment is done. Skills-based hiring is an approach to recruitment that focuses on evaluating and selecting talent based on their specific skills instead of traditional qualifications like degrees or job titles.

 

This proactive approach to hiring is not exactly new but has evolved from a narrow focus on technical skills to a broader array of skills.  Employers now recognize the importance of assessing candidates’ full range of demonstrated skills and competencies.  Employers who don’t adopt skills-based hiring practices and mindset in 2024 may get left behind.

 

According to TestGorilla’s State of Skills Based Hiring Report, 76% of employers use some skills-based hiring to find new talent and almost 55% are using role-specific skills tests. In addition, LinkedIn reports that there’s been a 21% increase in job postings that advertise skills and responsibilities instead of education and other qualifications.


Why is Skills-Based Hiring More Popular Than Ever? There are a Number of Reasons:

 

Broader Talent Pool. One of the most obvious advantages of skills-based hiring is that it results in a broader pool of workers. At a time when top talent in many industries is scarce, that can be a huge benefit and competitive advantage.
 

Candidate Selection. By focusing on skills, employers can more precisely assess a candidate’s ability to perform the job. This leads to a better match between the candidate and employer.

 

Diversity & Inclusion. Traditional hiring practices of focusing on education and background can be biased. Skills-based hiring allows for a more inclusive approach. It prioritizes skills over education and background.

 

Filling Vacancies Faster.  Currently, on average, it takes organizations 44 days to hire a new employee. Time kills deals. Skills-based hiring streamlines the hiring process. Employers can quickly identify candidates who fit the bill before they’re snatched up by a competitor.

 

Adaptability. In rapidly evolving industries and a changing job market, skills become more crucial. An organization needs to adapt to changing trends, technologies, and job roles. Therefore, they need to prioritize those candidates with relevant and up-to-date skills.

 

Cost-Effectiveness. Skills-based hiring reduces the chance of making a hiring mistake. A mismatch can be costly in terms of time, resources, and possible turnover.

 

Employee Satisfaction. With skills-based hiring, employers are more likely to find candidates who precisely match the job requirements leading to higher job satisfaction and productivity. Per McKinsey, employees without college degrees tend to stay in their roles 34% longer than those with degrees.

 

In Skills-Based Hiring, What Skills are Most Attractive to Employers?

 

Technology Skills. Organizations need to keep pace with ever-evolving technologies. Therefore, the need for IT professionals and workers who have digital literacy continues to skyrocket. However, the demand is greater than supply. Currently, there’s a shortage of tech talent and for that reason, many companies have eliminated degree requirements.


Problem Solving & Critical Thinking
. Employers place high value on problem solving & critical thinking skills because they help to show a range of other competencies including logic, creativity, resilience, and determination. Employers place great emphasis on these skills since they’re the core ingredients to almost every job.


Analytical Skills
. The capability to interpret data and analyze trends are vital to various roles.  Analytical skills can predict the impact of possible outcomes and solutions. Employers are interested in workers with analytical skills because analytics are critical for developing and strategizing an organization’s operations.


Communication Skills
. Clear and effective communication skills, both verbal and written, is essential for team collaboration and conveying ideas to team members and stakeholders.


Soft Skills
. While soft skills include communication as mentioned above, they also include interpersonal, teamwork, and leadership skills. Soft skills are crucial for effective team collaboration and workforce success.


Flexibility
. Employers place high value on flexibility and the ability to adapt to change and learn new skills.

 

Customer Service Skills. For roles involving interaction with clients or customers, excellent customer service skills are essential for building long-lasting relationships.

 

Changing how your organization approaches recruiting is a major undertaking. However, the benefits of skills-based hiring are significant. Assessing a candidate’s actual abilities and competencies relevant to the job, provides a more accurate predictor of on-the-job success.

 

For more information or an immediate talent need, contact us at 727-526-1294 or bmiller@medbest.com 

 

ABOUT JULIE RUPENSKI

Julie Rupenski is the Founder & CEO of MedBest Recruiting. Since opening its doors in 2001, Julie has grown MedBest into an award winning, multimillion-dollar national firm, garnering impressive awards including INC 5000 2021 and Tampa Bay Fast 50 2021 and Top Interim Services Provider 2023!  In addition, Julie was named as one of the “Top 100 Women Leaders in Tampa 2022″ by Women We Admire.

 

MedBest has gained national recognition due to Julie’s industry expertise and high level of success. Julie has an in-depth knowledge of the senior living / long term care industry.  She previously worked in operations for both senior housing and senior living prior to founding MedBest. Today, Julie and her industry-savvy team of recruiters, make it their mission to place exceptional industry executives in senior living positions where they have the greatest impact.

 

ABOUT MEDBEST
MedBest is an award-winning national Executive Search Firm exclusive to the Senior Living / Long Term Care Industry. For more than two decades, we have connected senior living / long term care organizations with exceptional senior living executive talent for both permanent and interim roles. MedBest was named as a Top 10 Interim Services Provider 2023! In addition, we were one of American’s top companies by Inc.5000 and a Tampa Fast 50 Company in 2021! MedBest is a member of the National Association of Personnel Services (NAPS), National Investment Center for Senior House (NIC), and American Staffing Association (ASA). Contact MedBest at 727-526-1294

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