Looking outside your industry for your next hire

Jonathan White, founder and director of Number Fifteen Recruitment, explores the benefits of recruitment from outside of your immediate industry and how modern firms are looking to gain advantage by doing things differently.

Related topics:  Blogs,  Finance News,  Recruitment
Jonathan White | Number Fifteen Recruitment 
31st October 2024
Jonathan White Number Fifteen Recruitment
"What's increasingly crucial is the concept of fit – the impact of workplace culture on performance outweighs any specific skill set. "

It may seem like the obvious choice to hire a candidate who already works in your industry, has experience with a competitor, and is ready to 'hit the ground running'. However, whilst it may seem logical to continue hiring individuals with similar backgrounds and experiences, does this guarantee the required outcomes?

Every new hire carries the risk of not performing as expected, regardless of their previous experience. What's increasingly crucial is the concept of fit – the impact of workplace culture on performance outweighs any specific skill set. 

After all, an 'industry expert' who doesn't fit with the team or environment is more likely to unsettle a business. Conversely, an individual with less experience but who seamlessly integrates into the team is more motivated to learn and contribute.

We're not suggesting that there's no value in hiring employees with industry experience. However, it's vital to look beyond their hard skills and consider the real potential they bring to your organisation based on their soft skills and motivations, rather than their previous employers.

Replacing an employee with someone who has the same skill set and knowledge offers little new value to an organisation. On the other hand, hiring someone who brings the necessary soft skills to exceed expectations can bring fresh perspectives. They may challenge industry norms and spark innovative ideas.

Being more flexible on the requirements for a role can also streamline the hiring process. When you're precisely and rigidly outlining a role's requirements, it likely will take longer to find a candidate who meets all the criteria, extending the time it takes to fill the position, whilst broadening the criteria means you'll have access to a wider pool of qualified candidates, shortening your search time.

LinkedIn's global talent trends report indicates that 89% of new hires who didn't succeed often lacked the necessary soft skills for the role. Soft skills in the workplace are crucial because they enable effective collaboration and help individuals thrive within an organisation. While hard skills can be taught and trained, soft skills are often more enduring, reflecting a person's character. Some hard skills, like those in HR, are transferrable across different industries, such as sales, where professionals often excel as recruiters due to shared soft skills like relationship-building, communication, and confidence.

Undeniably, hiring a candidate with no industry experience might initially require a bit more time for them to adjust to the new environment. However, this doesn't reflect on their potential performance or the impact they can make once they settle in. As they learn the intricacies of their new industry, they'll apply their existing knowledge in new ways. Some of the most sought-after soft skills include analytical abilities, interpersonal skills, leadership capabilities, creativity, teamwork, a willingness to learn and develop, planning and organization, and resilience. Looking at this list, it's evident how these traits can contribute to a successful employee. Job roles and the required skills are constantly evolving due to technological advancements, making these soft skills increasingly important, if not more so, than industry experience.

Being open to candidates with diverse skill sets and experiences can introduce a more varied way of thinking into your organisation. It's no secret that the most successful organisations tend to be the most diverse. Diversity encompasses more than just gender and religion; it also includes personal life experiences and personality traits. Hiring candidates from different industries might seem like a risk, but it can yield significant benefits when executed effectively.

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