According to many employers across the U.S., candidates are overconfident about their ability to perform basic job functions.
A recent study by Bryant & Stratton College and Wakefield Research reveals an alarming perception gap between what candidates believe to be worth and how they are viewed by potential employers.
The study, which surveyed U.S. adults age 18 to 34, found that 80% of workers believe they are “job ready and possess the skills, experience and education needed to advance in their desired career path or obtain their next job.”
However, nearly half (40%) of employers nationally said that most entry-level job candidates lack the basic skills necessary to fill open positions.
Additionally, while only 16% of job candidates surveyed found critical thinking and problem solving to be crucial skills for career advancement, 93% of employers found these skills to be weighed more heavily than others when assessing potential candidates, above academics and credentials.
Becoming knowledgeable about turnover rates and employee retention can alleviate the costs associated with poor performers. It can cost up to a third of a new hires' salary to replace them. According to "Hiring for Attitude" by Mark Murphy, as much as 46% of new hires will fail within the first 18 months on the job.
Clear communication between hiring managers and recruiters can reduce the risks associated with an under-performer. For more information about clear communication between hiring managers and recruiters, check out our infographic.