Potential-based hiring suits region better

Grow your talent, hire based on potential.

As competing for in-demand talent further intensifies, hiring for potential is gaining traction in South East Asia as a successful talent growth strategy, with 94 percent of such hires being retained. But close to 42 percent of hiring managers in the region remain reluctant to evolve their recruitment strategies beyond hiring based solely on experience despite the resources required to recruit, evaluate and subsequently manage employees who are not a good fit.

Robert Walters, one of the world’s leading specialist professional recruitment consultancies, revealed in its latest guide, “Grow your Talent, Hire Based on Potential,” latest insights on the motivations and results behind hiring for potential as a long-term strategy toward talent growth.

More than 3,000 respondents, including hiring managers and professionals from six countries, shared their views.

“In a world where algorithms can help now to identify and screen basic key words in a CV, it has become increasingly important for hiring managers to base their hiring decisions on future skills. In the banking and financial services sector, for instance, the way customers are thinking about saving and investing their money may not necessarily fit with the traditional banking outfit anymore and we need to adapt the way we attract talent accordingly,” said Priya Gupta, manager of Banking and Financial Services, Robert Walters Philippines.

Across the region, respondents cited preference for candidates who can pick up work immediately, the technical nature of the role and the lack of know-how to evaluate the person’s potential as key reasons for not hiring high-potential professionals. These are the same reasons why 30 percent of respondents believe that a candidate with the right qualifications and experience will eventually show up.