Friday, 22 November 2013
Identification of potential is critical to growth
IT is a well-known fact that businesses lack the necessary skills to aggressively grow their market share. Research suggests that the mining, energy, engineering and construction industries are lacking the most in this area.
With limited skills abounding, the need to proactively identify potential for acquiring appropriate skills in a short period of time is a given.
Although it is understandable that companies are reticent to invest in identifying potential when tenders are awarded and kick-off has to happen within steep deadlines, or when economic bursts, as experienced with the pre-World Cup bubble, come to an end and contingent workers come to the end of their contracts, short-term practices are not going to yield the necessary talent in the longer term.
Drawing from the tradition of aptitude testing, the field of industrial psychology is enabled to determine technical/industrial potential, i.e. whether a person has mechanical insight, aptitude for fault diagnosis, a propensity for unsafe working habits, etc. Apart from enabling a higher quality selection decision when taking on semi-skilled or skilled workers, these tests will be able to indicate those individuals who are most likely to benefit from up-skilling and further development, thereby increasing the likelihood of positive ROI. Early detection of such potential will also help organizations in advancing employment equity and achieving more positive BBBEE ratings.
The proactive identification of potential is also beneficial in developing leadership skills and enhancing active succession planning.
Research indicates that, despite the difficult economy, businesses are continuing to hire. What could be a better investment of their recruitment spend than to identify potential for success at the same time.