As we embrace the summer, the health technology and human capital landscapes are rapidly evolving. This article delves into 2024’s Talent Acquisition trends, equipping you with tools to drive your business forward, whether you are a seasoned entrepreneur, executive or startup founder.
In today’s spotlight, we explore the rise of skills-based hiring amidst a growing shortage of highly skilled workers. Traditional metrics like past employers and job titles are giving way to a focus on skills and potential. Organizations are increasingly upskilling teams through interim talent and lateral moves while scouting for leadership skills to address future gaps.
Skills assessments and competency-based interviews are becoming crucial in identifying adaptable candidates. As noted by the Harvard Business Review on May 13, 2024, many companies are removing college-degree requirements from job postings. However, without effective screening tools, degrees still often serve as proxies for a candidate’s learning capacity.
Despite the push for skills-based hiring, Forbes highlighted on February 25, 2024, “If removing degree requirement from jobs was really better, you should wonder why so many companies are not doing it, even after they say they will.” This discrepancy suggests a gap between intent and practice.
To make skills-based hiring a reality, employers must commit to a focused talent acquisition strategy. Here are some key steps:
- Increase talent mobility within your organization.
- Build stronger partnerships with internal stakeholders to define essential skills.
- Identify and anticipate necessary skills for today and tomorrow.
- Recognize different skill levels: competencies such as critical thinking and adaptability, field-specific technology skills, and systems-related skills such as MS Office.
- Develop a skills intelligence database and leverage the analytics.
- Quantify skills and their importance within roles, teams, and your organization.
- Identify areas to upskill and reskill employees.
- Define skill mastery evidence – certifications, experience, or industry assessments.
- Prioritize promoting existing employees to reduce hiring risk.
- Assess which roles genuinely require a college degree.
By prioritizing skills-based hiring, you can better address worker shortages and position your business for success.
Access prior articles on 2024 talent acquisition trends:
- AI-driven recruitment emerges as a dominant force
- Remote and flexible work continues evolving
- Relocate or resign: a growing paradigm
- Data-driven decision-making shapes hiring strategies
About the Author
Paula Norbom is the Founder and CEO of Talencio, an executive search and staffing firm serving health technology companies. She has worked in the health technology industry for over 25 years.