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		<title>3 Advantages of Outsourcing Your Technical Interviews</title>
		<link>https://resources.eteki.com/3-advantages-outsourcing-technical-interviews/</link>
		
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		<pubDate>Sun, 01 Jan 2023 10:00:22 +0000</pubDate>
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					<description><![CDATA[<p>The post <a rel="nofollow" href="https://resources.eteki.com/3-advantages-outsourcing-technical-interviews/" data-wpel-link="internal">3 Advantages of Outsourcing Your Technical Interviews</a> appeared first on <a rel="nofollow" href="https://resources.eteki.com" data-wpel-link="internal">Resource Center</a>.</p>
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			<p><span style="font-weight: 400;">First, yes, you can do this. Some companies aren’t aware that you can outsource </span><a href="https://www.eteki.com/9-keys-highly-effective-technical-interviews/" data-wpel-link="internal"><span style="font-weight: 400;">technical interviews</span></a><span style="font-weight: 400;">. But, with companies worldwide struggling to quickly identify and hire quality IT talent, more and more are turning to outsourcing technical interviews to ensure that candidates have the necessary skills to succeed at a given job. After all, most technical recruiters are non-technical professionals, and  do not have the qualifications to ascertain technical experience accurately.</span></p>
<h2>Outsourcing Technical Interviews Advantages</h2>
<p>Here are three, plus, the bonus, advantages you get from outsourcing your technical interviews instead of performing them internally.</p>
<h3><strong><img decoding="async" class="aligncenter wp-image-211212 size-full" src="https://resources.eteki.com/wp-content/uploads/2023/01/Technical-interview-outsourcing-advantages-by-eTeki.jpg" alt="Technical-interview-outsourcing-advantages by eTeki" width="1138" height="600" srcset="https://resources.eteki.com/wp-content/uploads/2023/01/Technical-interview-outsourcing-advantages-by-eTeki.jpg 1138w, https://resources.eteki.com/wp-content/uploads/2023/01/Technical-interview-outsourcing-advantages-by-eTeki-300x158.jpg 300w, https://resources.eteki.com/wp-content/uploads/2023/01/Technical-interview-outsourcing-advantages-by-eTeki-1024x540.jpg 1024w" sizes="(max-width: 1138px) 100vw, 1138px" /></strong></h3>
<h3><strong>1. Improve Quality of Hiring</strong></h3>
<p>The two primary internal approaches have shortcomings that negatively impact the quality of technical interviews, and as a result, quality of hire. Outsourced technical interviews don’t have these shortcomings.</p>
<p><span style="font-weight: 400;">Let’s take a look at the quality issues with the two primary internal approaches.</span></p>
<h4><strong>Pre-Submittal Tech Interviews by Third Party Staffing Suppliers</strong></h4>
<p><span style="font-weight: 400;">The typical approach for staffing companies is the use of an internal IT consultant or employee as a technical interviewer. The consultant is paid for a short amount of time—perhaps an hour or 30 minutes of their time. In some cases, a nominal gift card is shared instead of full compensation for the tech person’s expertise. While many firms have formalized this tech interview functionally, generally this is a “do me a favor, check out this candidate” type of situation. While the consultant generally has sufficient IT knowledge, interviewers may not be a role/stack match to the job and/or technologies required,  there’s no guarantee that the interview process is legally compliant, and there’s no common scoring or reporting system.</span></p>
<h4><strong>Post-Submittal Tech Interviews by Hiring Companies </strong></h4>
<p><span style="font-weight: 400;">The approach most often used by direct-hire companies like financial institutions is to establish a technical interview panel for each new open IT position. Most panels are composed of three technical team members who likely will work with the person once hired. While committees usually do prep, ask questions together, and vote together, the members often aren’t trained in doing technical interviews. Even if they are, there’s another major flaw: they’re making a decision about whom they want to work with. That creates bias, as people tend to want to work with people like themselves, which isn’t conducive for increasing diversity.</span></p>
<p><span style="font-weight: 400;">When you outsource technical interviews, they are performed by an external IT professional with the technical skill set required in the role, paired with </span><a href="https://resources.eteki.com/technical-interviewers-candidate-experience-checklist/" data-wpel-link="internal"><span style="font-weight: 400;">an intimate understanding </span></a><span style="font-weight: 400;">of how their actions impact candidate experience and interview compliance.  Meanwhile, the external IT pro is only concerned with who can best do the job, instead of who might be fun to work with. The result: a proper, extensive interview is conducted, and bias is minimized.</span></p>
<h3><b>2. Decrease Time for All Stakeholders</b></h3>
<p><span style="font-weight: 400;">It’s important to get technical interviews for candidates—especially top candidates—scheduled quickly. The best technical interview solution providers, often within 24 hours, can schedule a technical interview, conduct it and provide results in the form of a detailed candidate report.</span></p>
<p><span style="font-weight: 400;">Our research shows that it often takes a week or more for recruiters to schedule interviews with internal IT consultants, which delays getting feedback on the candidate. Combine candidate expectations for hiring decisions as if it were</span><a href="https://www.totaljobs.com/recruiter-advice/managing-candidate-expectations-in-the-recruitment-process" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><span style="font-weight: 400;"> a buying experience</span></a><span style="font-weight: 400;"> not a hiring process with</span><a href="https://www.linkedin.com/pulse/can-you-wait-49-days-why-getting-hired-takes-so-long-george-anders/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><span style="font-weight: 400;"> LinkedIn’s findings</span></a><span style="font-weight: 400;"> of time to hire in the IT sector at 44 days and your best candidates could very well accept another offer before you have the facts needed to make a next round decision based. Especially considering that IT professionals in high demand are more apt to receive </span><a href="https://www.roberthalf.com/blog/job-market/job-offers-aplenty" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><span style="font-weight: 400;">multiple job offers simultaneously</span></a><span style="font-weight: 400;">, according to Paul McDonald, Senior Executive Director at Robert Half. </span></p>
<p><span style="font-weight: 400;">In short, outsourcing technical interviews helps you minimize time to fill and time to hire while ensuring new hires have technical fit—a recipe for building and maintaining a top-caliber IT department. </span></p>
<h3><b>3. Reduce Costs Substantially</b></h3>
<p><span style="font-weight: 400;">Whether you’re looking to improve client retention by delivering high-quality candidates to the hiring manager on a consistent basis or you’re fed up with recruiting metrics outside of the norm, leveraging outsourced technical interviews makes financial sense. </span></p>
<p><span style="font-weight: 400;">Internal costs for technical interviews can add up surprisingly quickly. Assuming you have a team of three IT pros interviewing three candidates at a minimal cost of $50 per hour, you’ll absorb a minimum soft-cost of $900 Here’s how the math works:</span></p>
<ol>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Two hours of prep time for three IT pros, to agree on questions and format: $300</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Three one-hour technical interviews with three IT pros: $450</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">One hour of deliberation with three IT pros: $150</span></li>
</ol>
<p><span style="font-weight: 400;"><img decoding="async" loading="lazy" class="aligncenter wp-image-210848 size-full" src="https://resources.eteki.com/wp-content/uploads/2021/12/interview-cost-it-pro.jpg" alt="interview-cost-it-pro" width="1138" height="510" srcset="https://resources.eteki.com/wp-content/uploads/2021/12/interview-cost-it-pro.jpg 1138w, https://resources.eteki.com/wp-content/uploads/2021/12/interview-cost-it-pro-300x134.jpg 300w, https://resources.eteki.com/wp-content/uploads/2021/12/interview-cost-it-pro-1024x459.jpg 1024w" sizes="(max-width: 1138px) 100vw, 1138px" /></span></p>
<p><span style="font-weight: 400;">The more growth or turnover in your department the more interviews and the costs can quickly escalate. A technical interview partner, meanwhile,  conducts interviews at around one-third of the cost while reducing your company&#8217;s exposure for mistakes made by untrained interviewers.</span></p>
<h3><b>4. Boost Revenue per Employee (</b><b>BONUS Benefit)</b></h3>
<p><span style="font-weight: 400;">While technological advancements continue to grow in leaps and bounds, unfortunately, IT hiring processes have not experienced optimal modernization to keep pace with hiring demands. </span></p>
<p><span style="font-weight: 400;">The result? Declining productivity due to disruptions in project timelines related to 1) reviewing embellished resumes from talent acquisition and/or staffing partners, 2) pre-screening tech skills of unvetted potential hires by phone and/or video, and 3) running technical interview panels ranging from 2 to 7 key tech pros already feeling the heat of being understaffed. </span></p>
<p><span style="font-weight: 400;">IT teams have begun to put this necessary activity into the bucket of <a href="https://resources.eteki.com/a-technical-debt-you-may-not-be-thinking-about-now/" data-wpel-link="internal">technical debt</a>. This kind of debt refers to sacrificing revenue facing responsibilities, employee morale, and/or quality of hire to fill an empty seat. By outsourcing the technical interview you are saving employees at your company valuable time—no more scheduling ping pong for unqualified candidates, technical panelists stay focused on critical revenue-producing projects outside of interviewing the top 3 candidates, and open IT roles close faster. Hear our executive team speak with Future of Work Influencer, Paul Estes, on his <a href="https://www.eteki.com/benefits-of-outsourcing-interviews-in-technical-hiring-podcast-work-on-demand/" data-wpel-link="internal">Work on Demand podcast</a>.</span></p>
<p><span style="font-weight: 400;">Find out <a href="https://www.eteki.com/hiring-managers/" data-wpel-link="internal">how much your company invests</a> in technical interviewing.  </span></p>

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			<p><strong>Amanda Cole, Vice President at eTeki</strong></p>
<p>Amanda Cole has more than 15 years of experience developing innovative programs staffed by non-traditional workforce’s including freelancers, paid &amp; unpaid interns, boards of directors, special event volunteers, and skill-based volunteer programs. The annual value of services rendered for the largest programs exceeded $18M. She is a communications professional with superior facilitation and training skills, an engaging public speaking presence, and a fanatic about synergistic business relationships.</p>

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<p>The post <a rel="nofollow" href="https://resources.eteki.com/3-advantages-outsourcing-technical-interviews/" data-wpel-link="internal">3 Advantages of Outsourcing Your Technical Interviews</a> appeared first on <a rel="nofollow" href="https://resources.eteki.com" data-wpel-link="internal">Resource Center</a>.</p>
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		<title>Beyond the ATM: 4 Critical Talent Trends Driven By Banking and Financial Technology</title>
		<link>https://resources.eteki.com/beyond-atm-4-critical-talent-trends-driven-banking-financial-technology-2/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Thu, 02 Feb 2017 15:01:52 +0000</pubDate>
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		<guid isPermaLink="false">https://www.eteki.com/?p=1283</guid>

					<description><![CDATA[<p>The post <a rel="nofollow" href="https://resources.eteki.com/beyond-atm-4-critical-talent-trends-driven-banking-financial-technology-2/" data-wpel-link="internal">Beyond the ATM: 4 Critical Talent Trends Driven By Banking and Financial Technology</a> appeared first on <a rel="nofollow" href="https://resources.eteki.com" data-wpel-link="internal">Resource Center</a>.</p>
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			<p><span style="font-weight: 400;">Artificial intelligence. Machine learning. Digital currencies, Fintech. Mobile and online apps. </span><br />
<span style="font-weight: 400;">Thanks to technology, the banking and finance industries are almost unrecognizable from 20, 10 or even five years ago, when business was done via brick and mortar and handshakes. With the impact of some of these technological developments just beginning to be felt, much more change is coming.<br />
</span><br />
<span style="font-weight: 400;">All of this change has a tremendous impact on talent needs and priorities. In this post, we examine four critical talent trends for banking and financial institutions that are being driven by technology.</span></p>
<ol>
<li><b>High Demand for Tech and Tech-Savvy Job Roles</b></li>
</ol>
<p><span style="font-weight: 400;">The rapidly growing need for IT professionals is the top talent development in the banking and financial industries. These industries are now clearly tech companies’ biggest competitors for tech talent.<br />
</span><br />
<span style="font-weight: 400;">It’s easy to see why. Someone needs to build and maintain all of this hot banking and finance technology. Plus, as Geoff Fawcett of recruiting provider Hays </span><a style="color: #44c8f5;" href="https://social.hays.com/2017/01/18/top-five-2017-recruitment-trends-in-financial-markets/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><span style="font-weight: 400;">points out</span></a><span style="font-weight: 400;">, companies have a greater need for risk control, especially in regard to cyber security—and that means “information technology engineers and security officers will be, once again, very much in demand in 2017.”<br />
</span><br />
<span style="font-weight: 400;">We fully expect this need for IT talent to continue to grow. Global investment in the financial technology sector increased 67% from the first quarter in 2015 to the first quarter in 2016, according to Accenture. There’s tremendous room for growth in areas like digital currencies, given that most of the world still deals with cash, checks and plastic. Plus, traditional banks are exploring incubators. And fintech companies are trying to use tech to differentiate themselves. We could go on…<br />
</span><br />
<span style="font-weight: 400;">In addition to IT talent, another talent need we expect to see grow is for lower- to mid-level talent who are as comfortable with technology as they are with financial clients. The reason: we expect more and more banking and financial services like H&amp;R Block’s model for doing taxes, in which tech tools drive the process and provide the recommendations. Of note here: because of what the tech tools will be doing, these professionals won’t necessarily need financial expertise—proficiency will be good enough.</span></p>
<ol start="2">
<li><b>Less Demand for Some Traditional, Highly Trained Roles</b></li>
</ol>
<p><span style="font-weight: 400;">The flip side of tech tools sparking growth in technologically proficient lower- to mid-level talent is they could decrease demand for certified financial planners and other highly trained financial professionals. While this could take some time, the more tech tools drive investment/finance decisions, it could mean the less need there will be for those with high levels of financial expertise.<br />
</span><br />
<span style="font-weight: 400;">However, technology doesn’t always eliminate jobs; sometimes it changes them. Take bank tellers. Despite the proliferation of online banking and ATMs, employment of tellers is projected to only drop a modest 8% by 2024, according to the Department of Labor. And teller employment was on the rise until recently. As an interesting article by the </span><a style="color: #44c8f5;" href="http://www.aei.org/publication/what-atms-bank-tellers-rise-robots-and-jobs/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><span style="font-weight: 400;">American Enterprise Institute</span></a><span style="font-weight: 400;"> points out, bank tellers’ jobs, instead of being largely eliminated by technology, have instead become more marketing oriented.</span></p>
<ol start="3">
<li><b>Focus on Tech Hiring</b></li>
</ol>
<p><span style="font-weight: 400;">As technology becomes more and more important for business success, having a strong IT team will become a critical business priority. This means banks and financial institutions will need to focus on hiring measures such as:</span></p>
<ul>
<li style="font-weight: 400;"><i><span style="font-weight: 400;">Quality of hire</span></i><span style="font-weight: 400;">. With all the uncertainty occurring due to technology and global events, having stability in your tech team helps your business and technology be more agile. Stability begins with having high-quality talent, so hiring the right people is essential. This means candidates need to be screened carefully, with special attention paid to whether they have the technical skills and experience necessary to succeed in the roles they’re being hired for&#8230; </span></li>
<li style="font-weight: 400;"><i><span style="font-weight: 400;">Time to hire</span></i><span style="font-weight: 400;">. If your IT team goes understaffed too long, it will impact performance and innovation—and could reduce cyber security. As a result, strong talent sourcing and efficient hiring processes for IT roles become even higher priorities.</span></li>
</ul>
<ol start="4">
<li><b>Competition for Tech Talent</b></li>
</ol>
<p><span style="font-weight: 400;">Financial institutions and banks are going to need more <a style="color: #44c8f5;" href="https://resources.eteki.com/hiring-tech-talent-company-needs-know/" data-wpel-link="internal">tech talent</a>. Tech companies are going to need more tech talent. Other companies need more tech talent. Everybody needs more tech talent. Where’s it all going to come from?<br />
</span><br />
<span style="font-weight: 400;">It’s a huge question. After all, for 2016, 91% of companies anticipated some (56%) or a significant (35%) increase in competition for talent, according to a Mercer study. And no role is harder to hire for than tech. According to a recent CareerBuilder report, </span><span style="font-weight: 400;">five of the top 10 jobs</span><span style="font-weight: 400;"> that companies can’t find enough qualified employees for are tech jobs.<br />
</span><br />
<span style="font-weight: 400;">The result of it all is, unless the tech talent shortage disappears somehow, those companies who are able to identify and hire the tech talent they need are going to have a major competitive advantage.</span></p>

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<p>The post <a rel="nofollow" href="https://resources.eteki.com/beyond-atm-4-critical-talent-trends-driven-banking-financial-technology-2/" data-wpel-link="internal">Beyond the ATM: 4 Critical Talent Trends Driven By Banking and Financial Technology</a> appeared first on <a rel="nofollow" href="https://resources.eteki.com" data-wpel-link="internal">Resource Center</a>.</p>
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