The Value PI Brings to a Tight Job Market
WRITTEN BY Steve Sieke August 22, 2018
As the economy picks up and the job market becomes more and more competitive, you may be seeing fewer candidates for available jobs. With unemployment now under 4%, many employers are happy just to find ‘warm bodies’ who can fill their vacancies - particularly for unskilled positions.
Some might think that the benefit of being able to use the Predictive Index® to match a candidate’s attributes against the ideal behavioral and cognitive “Target Profile” for any given role actually goes down in tight job markets. After all, the last thing you want to do is further limit an already dwindling candidate pool!
In fact, it is when the job market is tightest that one of the key values of PI emerges. It is true that as the number of candidates goes down, the likelihood of finding a perfect PI match goes down as well. But it also means that the decision on who to hire can become more difficult.
The latest PI software provides a weighted ranking of candidates based on their fit/gap to the Target Profile. You will have a nice overlay of a candidate’s PI results to the job’s Target Profile, so you can visually see where their specific behavioral gaps lie.
With these tools, managers actually have the ability to make a hire with their eyes “wide open” about what these gaps really mean. It also provides insights on what they will need to do differently as managers to help a candidate succeed - despite their behavioral gaps to the Target Profile.
Let’s assume that the Target Profile for the job calls for a Highly Dominant person (someone who is a self-starter and can operate independently) and the candidate in question is Low in Dominance (someone who is more collaborative and in need of supportive management). A “sink or swim” manager might decide they are unwilling to hire that person, while a more “adaptable” manager might be willing to commit to that level of additional management support for a candidate that meets other key criteria. In both cases, the manager understands what is required for the new hire to be successful, and can make the hiring decision accordingly.
If you are finding fewer candidates applying to your open positions, remember how powerful the insights from PI can be in helping you navigate your hiring decisions. Even in the tightest of labor markets, the Predictive Index continues to help companies build a more engaged workforce by consistently improving hiring outcomes and by helping managers motivate their existing teams to top performance.