In this blog, we unpack key insights from one of our webinars, "The Talent Time Bomb: How to Develop a Progressive Talent Culture.”
Based on research surveying over 900 HR and talent leaders globally, the session featured experts discussing the complex challenges of modern recruitment.
Key issues highlighted were:
- The need for speed in hiring and getting new recruits to productivity quickly. 60% of new hires in the last 2 years were reported as not working out by respondents.
- The importance of soft skills in recruitment, development, and retention. 43% reported a soft skills shortage.
- Balancing fast hiring with hiring for the right long-term fit. Hiring too quickly often leads to poor fit, compromised candidate quality, and additional cost implications if the hire doesn't work out.
Take a look at what one of our panellists had to say:
- Andrew Dewar, Joint Senior Partner at a leading estate agency in Surrey and a client of Thomas for over ten years, emphasized not rushing to fill roles just because there is a gap. It is better to have a vacancy than hire the wrong person, leading to poor fit and turnover.
- Soft skills are prioritized over technical skills in many roles. You can teach technical skills but not soft skills or fit with the team.
- Research shared indicates that soft skills predict performance more than experience. Also, conscientiousness is highly correlated with performance across roles.
- Personality assessments like Thomas' PPA are used by Andrew after an initial interview, to construct additional interview questions and probe areas that may indicate poor fit or attitude.
- The assessments are also used after hiring in a debrief to provide self-awareness to new hires on their working style and personality.
Key takeaways:
- Don't compromise on candidate quality or rush hiring, even if there is pressure, as bad hires have significant cost implications.
- Soft skills predict performance and are prioritized over technical skills in many roles. Assessments can provide insight into soft skills.
- Personality assessments are useful interview and self-awareness tools when hiring and onboarding.
- Conscientiousness is highly correlated with performance. Management soft skills are crucial for encouraging this.
