Talent Insights: Attracting Talent From Outside the Industry

10 January 2023

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The Snapshot: Whether by necessity or by choice, sometimes hiring out-of-industry talent is the answer.

The Bigger Picture: In a challenging talent market, sometimes expanding the search beyond industry walls is the only way. Thankfully, there are actually many benefits to this approach. Getting the role filled is clearly the biggest ‘win’, but out-of-industry recruits can also bring fresh ideas and energy to the table. At senior level, these hires can be transformational. And at junior level, an out-of-industry hiring strategy is sometimes the best way to fill roles at the pace and volume required. 

The Scoop: There’s lots of talk out there to suggest that attracting talent from outside industry is well worth considering, including from: 

  • LinkedIn –The online working hub advises that employers are highly interested in transferrable skills. 57% of senior leaders – they report – say ‘soft skills’ are more important than ‘hard skills’. Included skills are “creativity, persuasion, collaboration, adaptability and time management”. Even those ‘hard skills’ (top of which are “cloud computing, AI and analytical reasoning”) aren’t necessarily industry-specific – why limit yourself? (Read More)

  • BBC Worklife–Industry-hopping is easier and more prevalent than ever, as profiled in this BBC report. It’s something that’s “typically easier for knowledge workers,” explains career-change coach Naomi Rothwell-Boyd. “The bigger the change, the harder it is to make,” she explains, advising that complete overhauls may require further study or taking a pay cut to start with. (Read More)

  • RealBusiness– Diversity of thought and experience can be a significant benefit for those reaching out-of-industry candidates. “It’s about bringing different ideas and opinions together within your organization,” says Cohesion CEO Will Shepherd, “and allowing them to work cohesively towards common business goals.” (Read More)

Our View: Here’s a reading from the recruiting floor about out-of-industry hiring in iGaming and payments:

“In my marketing practice, clients absolutely find benefit in transferring talent between iGaming and payments; the two sectors have a close relationship and often candidates bring with them highly valuable experience. There are also numerous industries, for example, from which clients can hire something like SEO or PPC talent – any industry that’s comparably fast-paced, competitive and tightly regulated.” – Gareth Mulley

“There are huge areas of cross-fertilisation between iGaming and Payments (so much so that we’ve built a global business in and between each space!) The two industries have a lot to learn from each other, and even industry networks can prove of significant value for those transitioning sector.” – Andrew Cook

“In tech, whilst it’s hard to fill CTO and leadership roles from outside industry (due to the specialist nature of iGaming and payments technologies), at the lower levels there is significant potential to pull in talent from a wide range of external industry backgrounds.” – Chris Gyere

Key Takeaway: Expand your horizons to uncover the benefits of out-of-industry hiring. 

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