It's A Puzzle
Today's job market can be a challenging puzzle regarding hiring the right person at the right time for the right job. The traditional approach to hiring has been tossed around and turned over. Top executives may no longer want to commit exclusively to a long tenure. People increasingly want to work remotely and be free to move around geographically regarding personal economic logistics. Also prevalent in today’s fluctuating job market, companies may not be ready to commit to long-term hires. This presents a definite need for contract workers as companies may not have the full-time headcount back in their budget.?
With the changing landscape of hiring, there are more strategic ways to hire the right fit when the opportunity presents itself. Many companies have turned to various data sources to identify potential candidates and have also started to use artificial intelligence and machine learning to predict which candidates are most likely to be successful in the role.
However, handle with care! AI and algorithms can’t replace the human experience. As technology has rapidly become more user-friendly, we are quickly growing accustomed to relying on algorithms to make decisions in all facets of life. It’s only natural that we would start to do the same when it comes to hiring. Wharton’s Peter Cappelli warns that there are some crucial differences between hiring and other decisions we make using algorithms. Hiring decisions have a much more significant impact on our lives. A bad hire can cost a company a lot of money and time and damage morale and productivity.
A key point human factor is that many people who take a new job are not necessarily actively looking for one. Therefore, external partners can provide a valuable service in this regard. Increasingly common, Korn Ferry researchers confirm that about 40% of U.S. companies use external outsourcers for some or all hiring needs. This newer development of partnering with an executive search firm highlights the benefit of recruiters who have previously identified potential candidates and continue to build their own network of resources that traditional hiring methods have lacked. This external partnership shift in the hiring landscape has led to the rise of executive search firms that specialize in finding and recruiting qualified candidates for businesses. Using various methods to identify potential candidates, external partners have a network of pre-screened and immediate access to viable candidates.
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This has had a significant impact on the way that companies hire. In all instances, it’s become easier for companies to find qualified candidates, allowing companies to focus on their core business activities. As the job market stabilizes, grows, and becomes more competitive again, companies must find new ways to find and recruit qualified candidates.
External partners provide valuable service as most hiring decisions are based on gut instinct and personal biases. While technology may help narrow down the field of candidates, it can’t tell employers who will be the best fit for the job or be discerning regarding a project-based hire. Using an external partner for hiring is ideal for present market needs because there are vetted professional relationships and immediate hiring options within the vast network of pre-screened available candidates. The ability to source the right person for the right job at the right time for a specific project is more cost-effective.
At 4D Executive Search, we readily solve the puzzle by quickly and efficiently finding the missing piece to lead your project or be part of your team. Picking up the right piece with a project-oriented hire is the extra dimension.