Companies worldwide are struggling to attract and retain highly skilled workers.
Research conducted by Dr. Bradford Smart, author of Topgrading, shows that the estimated cost of a bad hire can range between 5 to 27 times the candidate’s annual salary.
Companies who apply skills-based hiring have stated benefits such as:
- being able to tap into a broader, more diverse pool of talented individuals
- a more efficient hiring process, resulting in faster ‘time-to-hire’
- decrease in job advertising expenses and less time spent on training
Article: Why Skill-based Hiring Is On The Rise – Forbes