Tackling the shortage of skilled workers – is more really always better?

Quality over quantity in applications

Concentrating solely on increasing the number of applications during the recruitment process misses the real point. After all, a higher count of applications does not guarantee that vacancies are filled with the ideal candidates who will happily and successfully commit to the organization in the long term. On the contrary, the effort entailed in evaluating and processing a large number of applications is often significantly higher and requires more resources (and patience!) than the actual value derived.

Thus, the critical factor is not the number of applications, but their quality.

More specifically, the degree of compatibility between the applicant and the position in question is essential. Basically, a single application may suffice – if it is the right one. The good news is: organizations are in a position to exert considerable influence on the quality of their recruitment efforts.

Requirements analysis – the foundation of successful recruitment

“Of course we conduct a requirements analysis!” – this statement, or something akin to it, is the credo of most HR departments. Yet, upon closer scrutiny, doubts arise. After all: requirements analysis is a systematic process for determining the exact needs of a vacant position. Beyond the necessary qualifications, its main focus is on pinpointing the relevant professional, methodological and personal competencies that are crucial for success in the given position.

The requirements analysis thus lays the groundwork for ensuring that the candidate’s skills align with the specifications of the position as part of the recruitment process. In other words: only a systematic requirements analysis can ensure valid and sustainable staffing decisions.

The KSAO model

Over the past decades, various approaches have been established for a target-oriented requirements analysis process. This article cites the KSAO model as an example. According to this model, the requirements critical to the success of a position are divided into four categories, allowing for their systematic and thorough identification:

A) Knowledge

• This comprises the general and specialist knowledge that prospective employees need.
• Examples: expertise in financial products and services, basic legal concepts in banking, knowledge of regulatory requirements and compliance guidelines, understanding of market analyses and economic trends.

B) Skills

• These refer to particular abilities gained through training and experience.
• Examples: competence in client consultation and support, negotiation prowess, risk analysis and evaluation capability, mastery of banking software and IT infrastructure, and sales acumen for cross-selling banking products

C) Abilities

• These are the essential, verifiable skills necessary for the successful execution of the future responsibilities.
• Examples: analytical reasoning, numerical skills, problem-solving ability, attention to detail, cognitive flexibility to respond to changing market conditions

D) Other characteristics

• These encompass additional relevant attributes, such as personality traits or motivation, which, to a certain extent, are also decisive for success.
• Examples: high integrity and ethical conduct, customer orientation, resilience under pressure, collaborative spirit, willingness to undergo continuous training, motivation and commitment to the company’s goals

Added value for the entire HR value chain

The information gathered is then compiled into a detailed requirements profile. This is a central component of the entire HR value chain. With regard to personnel recruitment, numerous success levers can thus be activated.

On this basis, job advertisements can be created that formulate concrete expectations of potential applicants while also providing a detailed impression of the prospective role. This strategy not only encourages candidates to make more informed selections, resulting in a higher quality of incoming applications, but it also increases the employer’s attractiveness to those candidates who strongly identify with the position.

The requirements profile also assists in selecting the most fitting platform for ad placements and in actively pursuing and approaching suitable candidates with greater accuracy, i.e. in a manner more tailored to the target group.

This strategy not only circumvents the time-consuming processing of countless unsuitable applications, but also enables a targeted and efficient search for the right person for the right job.

The quality benefits of using a requirements profile also extend to other areas of responsibility in the HR department. The evaluation of incoming applications is systematically supported, allowing for an effective and targeted allocation of resources.

The selection process also benefits significantly from a precisely tailored requirements profile. Candidates are chosen specifically based on the requirements critical to success. This strategy avoids hiring the wrong person, which in the long term would lead to additional effort and entail recurring recruitment costs.

Moreover, needs-based development activities can be implemented that directly correlate with practicality and the individual proficiency levels of employees. The resulting performance not only boosts satisfaction on both sides but also fosters long-term commitment to the organization.

Efficient personnel recruitment: our conclusion

The key to successful recruitment does not lie in the sheer number, but in the quality of applications. Meticulous requirements analysis and a precise requirements profile are indispensable for finding the right talent and ensuring their long-term retention within the company.

Beyond optimizing the recruitment process, these elements also play an important role in personnel development and employee retention. In the long run, these measures will also be reflected in the organizations’ financial stability.