The importance of investing in talent retention

Ariela Douglas
June 6, 2022

Now more than ever, ethical hiring and retention practices are top of mind, and with good reason! Not only is hiring with DE&I the right thing to do, but can lead to improved employee satisfaction and better retention rates. However, many companies are struggling with tangible hiring practices that will produce diverse, quality candidates.

Both prospective and current talent knows what they want, but the question facing many employers is how to retain and grow talent. Keep reading to learn how soft skills are the missing piece of the talent lifecycle puzzle.

It’s a job seekers market

Though the topic of the Great Resignation has been brought up time and time again, it really is the impetus as to why the current job market favors employees and job seekers. It created the ideal fork in the road for talent to evaluate what they want out of a career, not just a job.

After the dot com bubble, there were suddenly industries that never existed and an expanding list of in-demand skill sets…but hiring remained the same as ever. This shift in not only the type of work, but the way people want to work in line with their personal/professional priorities, has created the perfect environment for job seekers to explore the market.

Hiring for retention

Historically, companies look for a resume that checks the “boxes” of the role they’re hiring for, such as specific experience and education. However, HR leaders and managers have long understood that this is a flawed process. Beyond the traditional resume, long personality tests and biased IQ tests were tools HR could turn to, but they weren’t actually all that reliable. What really matters when hiring is combining multiple pieces of data to create a holistic picture of a candidate.

So while the resume is a great starting point, it won't tell a prospective employer about who the individual is as a person and the unique attributes that might make them an excellent fit. Hiring for fit enables improved retention through improved fit to role, improved fit to values, and in proved fit to growth.

The missing piece of the puzzle

Did you know that 85% of recently surveyed HR professionals agree that soft skills are more important to long-term organizational success than traditional hard skills? The recruiting phase is the perfect time to start piecing together what a career looks like for an applicant and soft skills assessments are the best way to do this.

Innate social and cognitive and emotional attributes that make us who we are. When companies are able to tap into their prospective employees' unique strengths outside of a self-reported resume, it results in better long term candidates. If you’re curious how behavioral soft skill assessments can be integrated with your existing framework to attract, retain and grow top talent in today's climate, we invite you to watch our latest webinar here.