Future of Hiring: Skills over Academics [Podcast]

Education Technology Trends and Innovations by Splashgain

Episode Description

Are degrees becoming obsolete in the job market?

Join us in this eye-opening episode as we dive into the Future of Hiring. As the job market evolves, so does the way companies approach recruitment.

We’ll be discussing why an increasing number of corporations are shifting towards skill-based hiring and putting less emphasis on academic records.

Find out why having a degree may not be the ticket to success it once was.Tune in now and discover the new way to succeed in the Future of Hiring !

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Episode Transcript

Hello and welcome to today’s podcast episode. Today, we are having very interesting Trend related discussion during hiring process. What exactly corporates are looking. Whether they arelooking for skills or whether they are looking at academic records, Look things are changing rapidly. All over the world like adoption of AI.

Adoption of automation, it is definitely changing the required skill set associated with the corporates. So if you take a look at the things like according to recent statistics, 47% of today, job will be gone in the 50 years time. So if you take into example, hundred years ago, more than 90% of the jobs were related to farming industry.

So in the same way there will be huge shift in the working force and things are very very Dynamic. So if you look at the survey by National Association of Congress and employers 88% of the employer side demonstrated skills and knowledge as the most important factor while making the hiring decisions.

There is another survey by Manpower Group, which has found that 42% of employers globally struggling to fill the job. Vacancies, due to lack of skilled candidates. Even as per World economic Forum, 65% of the children entering primary school today will ultimately end up working in jobs that do not exist yet.

 So new jobs will be created. New skill, set will be required and definitely technology is advancing at an unprecedented rate and corporate competency and skill Requirements are constantly evolving. But if you take a look at education 16, A system which often lacks behind those changes resulting in the disconnect between what is taught in the universities and what is required in the workflows. So this is definitely leads to significant number of college graduates struggling to find an employment.

So there is a issue of employability that is coming up so those graduate which are passing out. They do not have competencies, which is required by the corporates. So what exactly corporates are looking for whether they are looking at degrees or whether they want to know the competencies that you have.

So I think if you look at the overall trend corporates are definitely looking at practical knowledge or a practical competency skills which are going to be shown by the candidate rather than looking at the marks, academic records or academic credentials or degrees, which are being studied by the candidate. So degree based hiring Is it common practice which has been traditionally followed by many companies, but it has got some flaws.

So one of the significant issues with approaches is lack of consistency In terms of screen specialization course curriculum, syllabus and content. So, evaluating candidates based on their just Marks it will be very difficult to quantify and Define the base of the qualifications.

So with the rise of online and distance education programs, quality of education can vary from University to University or Institute wise. Also, there is a drastic difference still some of the companies rely on reputation of Institute or University from where candidate has attended the degree course.

So it provides some kind of Benchmark or reference, but if you look at the, what are the new skills required in the corporate world, Those typically include ability to work Under Pressure time management, working in a team, creativity, collaboration, data analytics or learning new skills those are the things which are Beyond college degrees and which focus more on candidates attitude during the hiring process.

So, that is the reason why corporates are assessing the abilities using skill based hiring approach because it helps corporates to focus on assessing candidates abilities, in the areas which are directly relevant to the job profile.

Such as Aptitude, problem-solving, coding skills, communication skills, writing skills, even by using psychometrics skill tests companies can reasonably predict candidates behavior in terms of working within the team leadership, ability or innovation. So, what is the future of hiring?

 It Is certainly going to revolve around skill based assessments. So there will be various tools, including AI tools which will help corporate to assess candidates ability it will help to predict Future performance of the candidate.

So, corporates are definitely looking for building tools related to skill based hiring it starts with the online assessment, defining the online assessment for various skills and experiment with those tests with existing employees of the organization.

So, as soon as you get output of the test, you can Benchmark the performance of your employees and set up a benchmark for filtration criteria. During the hiring process. So you can as an organization putting skill based hiring into the practice should be the topmost priority.

 So as soon as you are going to define the assessments that can be administered through suitable for all the job applicants where all the job applicants are supposed to undergo certain number of tests or filtration process. And even if you have one or have thousands of applicants, online assessments are Technology-driven.

So it can be easily. Scalable plus remote, assessments are also possible with the help of advanced AI prompting mechanism. So online, skill assessment can be used.

There various types of assessment which are already available, like aptitude test, domain specific test, communication test, coding or programming skill assessment, even SQL or database skill Assessment, writing skill assessment, oral skills assessment, or logical reasoning test. You can also have a leadership skill assessment.

Even there are quite a few tests related to like out of the box thinking assessment, even if you want to have a evaluation of candidates English language, then you can Define English language, aptitude test as well. So by implementing such skill based hiring for the organization you can Benchmark the performance of the applicants you can assess candidates more accuratly you got improve performance of the future employees.

 Your accuracy associated with hiring, can be drastically improved, there will be very few cases of wrong hires. Even you can use various AI tools like AI question generator tool to Define your assessments. So AI question generator tool provided by Eklavvya which is deeply integrated with Advanced Chat GPT algorithms which can help you to generate any kind of assessment test within a flash of minutes and you can easily track the effectiveness associated with skill based assessment.

You can continuously improve and refine your hiring process with the help of new version of Assessments.

That will definitely help you to attract the right kind of talent for the organization. So to conclude just definitely or corporates are looking forward for skill-based hiring process rather than Relying on academic credentials.

Even some of the corporates are considering that even if you do not have any kind of degree certificate or even if you are not completed a degree, but you have acquired practical knowledge, using various online courses and if you are able to show the Practical competencies, then definitely There is chance of cracking those skill based assessment test.

So, organizations are definitely, should look Beyond education to assess Practical knowledge of the candidates. So if you are looking for assessing the candidates with skill based hiring approach, then definitely, you can visit our platform www.Eklavvya.com

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