As technology advances, the way businesses are conducted shifts accordingly. This leads to a change in the landscape for job roles—some then have changed and while others are made obsolete. What this mean for job seekers and employers is that the availability of skills that job seekers have currently, does not match the skills needed is the changing economy.
To illustrate this situation, let’s look at the US job market. The latest unemployment rate in the US stands at 7.4 or 11.4 million workers. When you compare this to the 3.95 million job vacancies in the US, the question that arise is; why aren’t those job vacancies taken up by those unemployed?
While we have not spoken to the US Bureau of Labor Statistics, we believe that there is a skills gap. This is a viable explanation to the situation.
How can companies better screen candidates to understand the competencies of candidates? How can companies find the talent that they want?
Companies need to relook at their recruitment processes and mind-set when recruiting.
As businesses evolve, job roles are changing as well. Therefore, the availability of candidates that are of the perfect fit (those that can tick off on ALL the checkboxes) is near impossible to find. How then can this situation be worked around?
Enter Competency Based Interviews. Instead of focusing on candidate’s past or previous industry experience (which is ineffective for fresh graduates or when looking from the conventional pool of candidates), ask questions that will require candidates to demonstrate that they have a particular skill or a “key competency” the company is looking for. Place these candidates in situational examples and have them relate their experiences to illustrate how they can apply their existing knowledge, personality, skill sets to the role that they are applying for. It can even be used to determine their knowledge of the industry and company, plus their motivation and commitment to the role that they are applying for.
Typically, these Competency Based Interviews should be standardised. This provides a standard yardstick to compare the different responses that each candidate might have and from there determine a possible fit.
This approach presents three challenges:
- How to maintain a consistent approach for interviewing?
- How do we then manage the large amount of interviews that have to be done (since we are opening up the applications to “other applicants” that we would not normally meet)?
- How can we possibly remember all the responses when reviewing the candidates?
On-Demand Video Interviews is the answer. With this tool, the questions to be asked can be set and sent to candidates to respond to via a video recording. The video responses can then be reviewed by all stakeholders, more than once if necessary, before a decision is made to advance a candidate through the hiring process.
While video interviews will never replace the all-important in-person interview, it is a good tool for companies to deploy Competencies Based Interviews when looking to widen their search parameters or even when hiring Fresh Graduates.