Hiring experienced talent falls under the “difficult” category for most talent acquisition, HR and hiring managers. Identifying qualified candidates is a challenge in itself but recruiting that talent – possibly away from rival companies, onboarding, and training them to work successfully within your organization’s parameters makes it a gamble. Will he or she fit in culturally? Stay after all the effort? A workaround is often to hire or promote from within, which can better ensure the right cultural fit. But this is not a foolproof solution, especially for companies that are looking to grow and must hire outside talent to do so.
Jim O’Malley, partner and executive search practice leader at TalentRISE, states that “Over-reliance on internal talent is a problem in and of itself. In today’s tight labor market and within virtually every sector of professional services, no one can afford to ignore the need to hire managers and partners from the outside.” Demand often outweighs supply and makes hiring from the outside a must.
What’s the Solution?
How can hiring managers find the perfect talent who will seamlessly enter a new organization and excel in their role? Rather than hiring solely on experience, consider trading in experience for potential. In other words, take a risk on hiring an outside individual who may lack direct experience for the job but exhibit the potential to excel. Look at how that individual is performing in their current workplace. Is he or she consistently and significantly outperforming peer groups in a variety of settings and circumstances? According to the Harvard Business Review, individuals who demonstrate potential “show a strong capacity to grow and succeed throughout their careers within an organization – more quickly and effectively than their peer groups do.”
There are a variety of compelling and far-reaching reasons to hire for potential. For starters, hiring talent via non-traditional channels means everyone on the team can benefit from fresh thinking, ideas and skills. New team players bring new perspectives, which is sometimes exactly what is needed to elicit growth. Another benefit – particularly in sales, is an expanded customer base. Hiring outside talent can assist in expanding your organization’s prospect list when they bring their contacts with them.
Is Hiring for Potential too Risky?
Many say there is too much risk involved when hiring someone who has the potential to succeed without a proven track record in the business. When the hiring process is executed correctly, this simply is not true. Careful assessment of any candidate is vital. Employing a search process that incorporates competency-based behavioral interviewing will allow an inside look at a candidate’s potential in a variety of situations.
Continue to visit our blog Pass the Torch regularly for helpful content focused on executive search and recruiting success.
- Posted by Ilana Katz
- On March 6, 2018
- 0 Comments