As the hiring frenzy of the past few years slows down in some industries, employers are becoming more selective about who they bring on board. According to data newly released by LinkedIn, among the many challenges facing recruiters in 2024, one of the biggest is improving the quality of their hires.
In fact, “quality of hire” is the top issue that talent acquisition experts believe will shape recruitment over the next five years (54%), followed by employer branding (49%), candidate experience (47%), flexible work arrangements (44%) and upskilling/reskilling employees (40%). This means that time-honored metrics like time-to-fill and acceptance rates are becoming less relevant as hiring managers seek higher-quality candidates who are equipped to make a significant contribution to the organization.
At the same time, the definition of ‘quality hire’ is shifting as new technologies disrupt business as usual and new skills come to the forefront of the hiring decision. So what does it mean today to be a quality hire—and how can companies find this talent?
Defining a quality hire is often very organization-specific, but there are a couple common denominators that appear across the board. LinkedIn reports five metrics that talent acquisition leaders are using to better determine an individual’s viability within the organization, including 1.) job performance, 2.) team fit, 3.) culture add, 4.) productivity and 5.) retention.
It’s important to notice how all these areas do not stand alone, but rather add value to one another. For example, an employee who performs their job responsibilities acceptably but often clashes with other team members doesn’t really qualify as a quality hire. Nor does a person who delivers incredible productivity for a few months and then suddenly quits. To be a quality hire, an employee must excel or meet all five metrics.
One of the biggest hiring trends to surface in the LinkedIn data is internal mobility as a new means of employee retention. When a company’s business needs align with the career ambitions and skills of existing employees, it’s a win for everyone. But focusing resources on promoting internal mobility is a “new muscle” for recruiters, according to the report.
LinkedIn is attempting to shorten this learning curve by bringing their learning and hiring tools together. This will allow employees more opportunities to see any open roles at their organization, while giving internal hirers an easier way to source employees looking to make a move within the company.
Generative artificial intelligence (GAI) is another avenue by which recruiters hope to enhance their efforts in 2024. Sixty-two percent of surveyed recruiting pros expressed optimism about using AI tools to enhance their process. However, only 27% had used AI in their day-to-day work.
Because the pool of AI-talented workers is currently so small, companies will need to focus on developing AI skills in their existing workforce. To aid this transition, LinkedIn Learning announced that it will be offering 250 free AI courses across 7 languages on its platform. Two-thirds of these courses are related to GAI, with topics spanning multiple industries, roles and levels.
How do you become the kind of high-value candidate that companies can’t pass up? While the technical competencies (including AI abilities) you bring are vital, I believe the biggest determining factor in 2024 and beyond will be your soft skills—or as I call them, professional skills.
The LinkedIn study notes that six of the top ten skills employers are seeking today are professional skills like communication, leadership and analytical skills. Also known as ‘human skills’ or ‘power skills,’ these are the functions and traits that are beyond what AI can deliver. Things like emotional intelligence, relationship building, human connection, empathy, active listening, critical thinking, conflict resolution and more are ironically becoming more important as technology advances in our everyday work lives.
The good news is that all of these skills can be learned. So if you’re not where you want to be today in your career, now is the time to map out a course of action to enhance your professional skill set. LinkedIn Learning’s new career development features may be worth checking out. Designed to help people chart their career path, these tools include a “Next Role Explorer” career path visualization, as well as personalized “Learning Plans” to help learners find and close their personal skills gaps.
As with so many things in the world of work, quality hiring is a two-way street. Yes, the onus is on candidates to demonstrate and deliver the human skills so necessary in today’s workplace, but there’s also strong pressure on organizations to be ‘quality employers’ in their turn. Quality hires aren’t attracted to poor-quality companies or roles.
Organizations in search of high-value candidates may need to first turn the question around and ask themselves what kind of value they’re offering in return. The bottom line: quality hires seek quality companies where they can invest their career—not just put in their time.
