Zatori

Unleashing the Power of Transferable Skills in Talent Acquisition: Thinking Outside the Box!

Martin Wigfield • Nov 01, 2023

Unleashing the Power of Transferable Skills in Talent Acquisition: Thinking Outside the Box!

Finding it hard to attract and recruit top talent?


We're here to share something that has been invaluable for our clients in 2023.


The value of transferable experience!


While hiring individuals with specialised expertise has its merits, it's time to debunk the myth that this is the only way to build a formidable team. Let's explore how thinking outside the box by embracing transferable skills and experience can propel your business to new heights.

Leadership Positions:

  1. The Value of a Great Leader: First and foremost, a good leader is worth their weight in gold. The UK business landscape is no exception. Research conducted by McKinsey & Company revealed that companies with strong leadership are 2.2 times more likely to outperform their peers.
  2. Technical Specialist vs. World-Class Leader: Contrary to common belief, leaders don't always need to be technical specialists. In fact, having a technically proficient team beneath them can be more advantageous. According to a report by the UK Commission for Employment and Skills, 77% of employers consider soft skills as equal to or more important than hard skills.
  3. Avoiding the Blind Leading the Blind: When your team lacks expertise, hiring a leader without an in-depth knowledge in your niche might lead to a "blind leading the blind" scenario. That said, if your team know what they are doing, focus on finding a world-class leader who excels in leadership skills, not just in your industry.

Tehcnical Positions

1. Breaking Free from Niche Limitations: Many businesses in the UK often struggle to recruit technical positions because they demand candidates who "know our niche." This can be limiting. There's a vast pool of talent out there, and sometimes, the perfect fit may not have industry-specific experience.


2. Teaching the Niche: Instead of hunting for unicorns who already know your niche, invest in training talented individuals with transferable skills. The UK government's National Skills Fund has allocated millions to support such initiatives, emphasizing the importance of skills development.


3. A Win-Win Situation:
Over time, a transferable-skilled hire will grasp your niche while also imparting new technical skills to your team. This dual benefit creates a win-win situation, enriching your workforce and enhancing your competitive edge.


4. Short-Term Setback, Long-Term Gain:
Admittedly, this approach might cause a short-term drop in productivity, especially when hiring is urgent. However, it's essential to view this as an investment in your team's long-term growth and success.

In conclusion, the world of talent acquisition is evolving, and businesses in the UK need to adapt to stay competitive. Recognising the power of transferable skills can be a game-changer. By hiring world-class leaders and nurturing individuals with potential, you can build a team that not only understands your niche but also brings fresh perspectives and technical prowess to the table.


It maybe goes without saying we've helped several clients take advantage of these methodologies in 2023 creating bespoke assessments to ensure they really are the right hire!


So, don't be afraid to step outside the box and explore the vast talent pool of transferable skills. In doing so, you'll be positioning your business for a brighter, more innovative future.


Martin

Co-Founder

Martin has been advising businesses in talent acquisition and retention for over a decade. Discuss how you he can help you elevate your strategy, book a call or contact him at martin.wigfield@zatori-consulting.co.uk

Book a Call
By Martin Wigfield 08 May, 2024
Navigating the Wealth Management Industry: Choosing the Right Recruiter
By Martin Wigfield 25 Apr, 2024
Should you apply directly to a business or is using a pensions recruiter a better option?
By Martin Wigfield 27 Feb, 2024
In the ever evolving professional services landscape (e.g pensions, legal, insurance and wealth management recruitment), are we now being paid to much or not enough?
By Anthony Donohue 10 Jan, 2024
Here are some key considerations from pension administration, trustees, data, projects, actuarial and investment professionals considering a pensions opportunity.
By Anthony Donohue 21 Dec, 2023
Are you considering a new role to further your pensions career? Here are some key considerations from pension administration, trustees, data, projects, actuarial and investment professionals alike.
By Martin Wigfield 18 Dec, 2023
We are a recruitment partner serving leading brands in the pensions, wealth management, governance, insurance and legal worlds.
By Martin Wigfield 08 Nov, 2023
Covering diversity in the work place, bridging the gap through equity, inclusive leadership through a variety of DEI strategies.
By Martin Wigfield 25 Oct, 2023
Gen Z, the digital natives, are making waves, but we often hear how hard they are to fit into existing structures. We took it upon ourselves along side some research from McKinsey & Company to help put together a roadmap to navigate these waters successfully. Let's dive in and explore the three key areas where Gen Z is reshaping our work environment, ensuring that your company not only attracts but retains the best talent out there.
19 Oct, 2023
Pensions Recruitment case study for interim and contractor recruitment with our client the Royal Mail.
19 Oct, 2023
Pensions Recruitment case study for project recruitment with our pensions client Buck, a Gallagher company.
Share by: