What are the business skills most in demand?

In the workplace of the present and the future, companies are turning to a skills-based hiring approach to acquire the talent they need to achieve strategic goals and growth.

This is a departure from the traditional recruitment model where the search starts with a job description and then candidates are sourced based on similar job titles and experience.

Reverse engineering the hiring process

A skills-based approach starts with identifying strategic objectives and outcomes of the business. 

When a hiring company understands its own goals and pathways, it can identify the skills it needs to achieve its objectives and build a talent pipeline.

Larger pools of skills found with contract talent

A skills-based approach to hiring can help organizations struggling with labour shortages. 

Organizations that focus on skills are discovering that there is a vast inventory of skill sets available on the open market. They are finding contractors who come from many sectors and who can transfer their skills. 

Many of these are consultants or independent freelancers who are hired on a fractional basis. These are contractors who work part-time or project-by-project roles at a fraction of the time and cost.

7 fractional contract skills most in demand 

1. CEOs, Executive Directors – Good leaders are always in demand. Fractional leaders are often hired on a part-time or interim basis to bridge leadership transitions in companies. Contract leaders are also attractive to start-ups and early-stage tech companies that are charting pathways of growth. They possess leadership skills to chart the strategic direction in operations, projects, finance and hiring decisions.

2.  Project Managers – Experienced project managers possess critical skills critical in planning, procuring, managing and delivering projects in all aspects of an organization. These skill sets are in high demand because they launch projects and keep them on track when an organization is facing a talent crunch. 

3. Business Development and Sales Consultants –Companies facing labour shortages need these professionals to generate leads and to help companies acquire new business. These skills are highly transferable from sector to sector. 

4. Human Resources Professionals – For small businesses and start-ups, the contract HR professional is key for hiring and establishing policies and employee programs.

5. CFO/Financial Controller – These professionals create budgets, and financial forecasts and develop relationships with banks and investors. This is another skill set that is highly transferable from industry to industry.

6.  Marketing and Communications – With the rise of B2B marketing, sales and communication, companies require savvy professionals to help them reach new customers and grow their businesses. There is high demand for contract workers with expertise in these areas.

7.  IT Experts – Good software developers, data analysts and systems engineers are in huge demand globally. Increasingly, companies are facing cyber security threats and require specialized IT skills. Many IT experts use the contract model to sell their services.

Organizations that adopt a skills-based hiring approach will find better talent matches for the work that needs to be done to meet company goals. 

Evaluating job candidates and contractors based on skills rather than just relying on university degrees and previous job titles will help with these matches and promote business growth.