No Result
View All Result

Best-read stories

molecular biology
Health

Future of molecular cytogenetics to reach $ 2.5 billion by 2026

by Evie Hughes
2nd August 2022
18

Explore the molecular biology, its growth potential, and methodologies

Read more
investment for women

Fund manager required for higher education and female empowerment programme

30th July 2022
47
applications of synthetic biology

Synthetic biology: overview and growth

31st July 2022
40
roman abramovich yachts

Roman Abramovich superyachts on the move

27th July 2022
155
EA Sports launch new FIFA 20 campaign with adam&eveDDB

EA Sports launch new FIFA 20 campaign with adam&eveDDB

30th September 2019
340
Yanmar Invests $21M in GetMyBoat as part of Series B funding to drive digital transformation

If Apple, Microsoft and Amazon were countries – rank top 10 richest nations

31st March 2022
400
Top 10 in Tech: London’s most valuable Real Estate startups

Property Store simplifies property management

11th April 2022
476
Accountancy firm plans to multiply its workforce

Accountancy firm plans to multiply its workforce

11th April 2022
434
Retail
Monday, August 8, 2022
Write for us
  • Home
  • Entertainment
  • Property
  • Consumer
  • Finance
  • Technology
  • Travel
  • Ecommerce
  • Health
  • Leisure
  • Media
Headline Bulletin
No Result
View All Result
Home Economy

Hiring methods are exacerbating the UK’s skills crisis and social mobility divide

The HR industry faces a crisis as the shortage of talent continues to grow.

by Joshua Althauser
26th April 2022
Reading Time: 3 mins read
amazon hiring process uk

The HR industry faces a crisis as the shortage of talent continues to grow.

To alleviate this problem, many companies are forced to select for experience instead of taking more newcomers into their fold and giving them an opportunity to become successful employees
and adding value with skills that will make up for what they lack in innovation or niche expertise (67%).

YOU MAY ALSO LIKE

social enterprise examples uk

Every Scottish business to have social purpose at heart of operations by 2030

26th July 2022
113
uk us trade deal

Confidence of US companies in UK on decline: survey

21st July 2022
47

That’s according to a survey by Arctic Shores, the psychometric assessment pioneer, which has identified that outdated hiring methods are shrinking talent pools and hampering diversity. It also costs organisations money, with 72% currently paying higher salaries in order to find candidates with the right experience.

Time to make the leap: embrace potential over experience

Experience is undoubtedly a key factor in whether a candidate is hired, with 91% of respondents identifying experience as a useful way to establish whether a candidate will suit their roles. In light of this, 68% currently use CVs as their first method of screening for experienced hires.

However, the majority (78%) believe a lack of relevant skills and candidate experience will inhibit their ability to achieve strategic objectives and/or financial goals in the next 24 months. By relying on past experience rather than the potential that a candidate shows, organisations are taking a financial and strategic hit.

The World Economic Forum has also warned that 85 million jobs will disappear and 97 million new digital-first jobs will arise by 2025.

Robert Newry, CEO of Arctic Shores, commented:

“What we’re seeing isn’t a skills shortage, it’s a skills blindness. We live in a world with millions of capable workers yet companies are stressing about escalating salaries and an inability to fill roles. The issue is that everyone is playing musical chairs, poaching those with experience from other companies, who in turn poach from someone else. The only way organisations will get out of this costly spiral is to start hiring for transferable skills and potential. “

Scrapping the CV

Whereas the majority of hiring managers use CVs as their chosen method to screen out candidates, more than half (59%) have considered removing CVs from their hiring process altogether.

When it came to reasons why CVs hadn’t been removed from the process, 65% of respondents were blocked by the belief of a lack of viable replacements, hiring manager objections, and a lack of time and resources.

Removing the CV feels like ‘hard work’ for many, with the perception that there are no viable alternatives. Only 27% use psychometric assessments in their hiring processes.

“Scrapping the CV might sound radical, but you cannot solve tomorrow’s challenges with yesterday’s solutions,” added Newry. “What we’re calling for is an awareness of the challenge we face and for the start of a transition to futureproof the UK’s workforce.” 

There is already evidence that an alternative approach can be taken and with great results. Darren Cassidy, Managing Director of Xerox UK and Ireland, is one of the early adopters of a Scrap the CV approach:

“At Xerox, we have always looked to hire people based on their potential, where diversity, inclusion and belonging are core to our culture. So we are excited about our pioneering partnership with Arctic Shores to select for potential. My team has seen how the platform can identify potential from a candidate pool who haven’t had the best start in life and bypass the need to see a CV, which too often holds back those who have had the least opportunity. This is definitely the way forward.”

This might be your next read: Bradford training firm assisting to fix NHS staffing crisis

For other economy news, check this out: Agencies tell staff to work from home as coronavirus crisis escalates

Tags: HiringHuman Resources
ShareTweetShare

Related Posts

social enterprise examples uk
Economy

Every Scottish business to have social purpose at heart of operations by 2030

26th July 2022
113
uk us trade deal
Economy

Confidence of US companies in UK on decline: survey

21st July 2022
47
business visa uk
Economy

Companies call for easing of UK visa rules

20th July 2022
53
uk labour shortage
Economy

UK businesses call for gov aid due to labor shortages

16th July 2022
73
business insolvency uk
Economy

Business insolvencies up by 40% in England and Wales

15th July 2022
41
Aberdeenshire startup
Economy

Startup in Aberdeenshire hosted a trade delegation from the UK and US

26th April 2022
465
No Result
View All Result

Best-read stories

molecular biology
Health

Future of molecular cytogenetics to reach $ 2.5 billion by 2026

by Evie Hughes
2nd August 2022
18

Explore the molecular biology, its growth potential, and methodologies

Read more
investment for women

Fund manager required for higher education and female empowerment programme

30th July 2022
47
applications of synthetic biology

Synthetic biology: overview and growth

31st July 2022
40
roman abramovich yachts

Roman Abramovich superyachts on the move

27th July 2022
155
EA Sports launch new FIFA 20 campaign with adam&eveDDB

EA Sports launch new FIFA 20 campaign with adam&eveDDB

30th September 2019
340
Yanmar Invests $21M in GetMyBoat as part of Series B funding to drive digital transformation

If Apple, Microsoft and Amazon were countries – rank top 10 richest nations

31st March 2022
400
Top 10 in Tech: London’s most valuable Real Estate startups

Property Store simplifies property management

11th April 2022
476
Accountancy firm plans to multiply its workforce

Accountancy firm plans to multiply its workforce

11th April 2022
434

Headline Bulletin

Headline Bulletin brings you a curated selection of business news from around the world.

No Result
View All Result

Categories

  • Business
  • Celebrity
  • Consumer
  • Cryptocurrency
  • Dating
  • Ecommerce
  • Economy
  • Entertainment
  • Fashion
  • Features
  • Finance
  • Government
  • Health
  • Legal
  • Leisure
  • Marketing
  • Media
  • Music
  • Politics
  • Property
  • Research
  • Retail
  • Sports
  • Technology
  • Travel
  • Video
  • World News

Recent News

  • Future of molecular cytogenetics to reach $ 2.5 billion by 2026
  • Synthetic biology: overview and growth
  • Fund manager required for higher education and female empowerment programme
  • Kraken under investigation by US Treasury on alleged sactions violations
  • Leicester man and Dutch wife found dead in Antigua home
  • Roman Abramovich superyachts on the move

Most popular stories

molecular biology

Future of molecular cytogenetics to reach $ 2.5 billion by 2026

2nd August 2022
applications of synthetic biology

Synthetic biology: overview and growth

31st July 2022
investment for women

Fund manager required for higher education and female empowerment programme

30th July 2022
kraken exchange us treasury

Kraken under investigation by US Treasury on alleged sactions violations

28th July 2022
  • About
  • Contact Us

No Result
View All Result
  • Write for us
  • Business
  • Consumer
  • Ecommerce
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Legal
  • Leisure
  • Marketing
  • Media
  • Property
  • Retail
  • Technology
  • Travel