HR tech empowers people. This title speaks as much about the HR departments as it does the people they address. But in order to get to the solution, let’s first tackle the issue, aka:
94% of candidates don’t get hired. How did we get here?
One irony of technological advancements is that, although it’s never been easier to get in touch, the recruitment funnel is one of the worst performing verticals out there, with well over 95% investment with no return.
In the face of this staggering number, most companies out there tried to push more resources in this direction, hoping that the problem will solve itself with more manpower spending time on the same tedious tasks.
Pre-screening doesn’t just lack value, it also fails to address the problem at hand – candidates are no longer happy with being treated as a statistic. Strategies that would have propelled an HR department 10 years ago are now bringing zero results.
In order to fix this issue, companies must first understand its source. Candidates have started changing their behavior when it comes to changing jobs, as well as their attitude towards their professional goals since even before the pandemic.
Wanting to prioritize work-life balance and their personal lives above climbing up the corporate ladder, they turned to the gig economy, the passion economy and any other alternative to the stiff 9 to 5 that no longer sounds like a healthy investment of their time.
Silent voices speak volumes. 82% of candidates don’t apply for a job
Job loyalty is a thing of the past in most of the companies out there, unfortunately. Since we’re in the middle of a very profound societal change, it can still feel from the eye of the storm that things are standing still.
In fact, the happiest and most senior employees in most companies out there are passively willing to change their jobs if the right offer comes along.
Learning to keep the voices of your employees active takes much more than constant company-wide feedback forms. It’s about understanding that, in their pursuit for meaning, Millennials and GenZ (who are now a large chunk of the workforce) younger professionals are willing to go through the discomfort of change.
In other words, if you don’t strive to find out what motivates your employees, what makes them tick and what they really want to accomplish from their professional lives, someone else will. That someone else could as well be a start-up or generally a more flexible organization, where they’ll have the freedom to explore and the room to grow.
We already knew that Millennials choose meaning over money since even before the pandemic and the new work-from-home normal, and they were only paving the way:
‘What Gen Z wants is to do meaningful work with a sense of autonomy and flexibility and work-life balance and work with people who work collaboratively,’ according to Julie Lee, director of technology and mental health at Harvard Alumni for Mental Health, and an expert on Gen Z health and employment.
On top of this, reputation matters
While a professional might not apply for a job at your company even if they’d be interested in one, they will almost certainly turn it down if their peers had negative experiences during the recruitment process. And not only this, but your company might be stained with a negative employer branding.
As you might have guessed by now, making a good impression as an employer is crucial, and candidates are pickier than ever.
Where does HR Tech come in?
Like any other piece of technology, HR tech solutions like Jobful can’t do wonders on their own. They have to be used in healthy professional settings, and target companies that understand the shift in paradigm we’re going through.
For these ethical, mindful employers technology amplifies the messages and helps create a faster and more real connection from before the actual work experience.
Value, in HR tech, extends past finding volumes of people that will fall off in an impersonal pipeline, and it creates an opportunity for honest dialogue and healthy expectation management from both parties.
Compatibility-based recruitment caters to the idea of creating a strong match, and there are multiple layers of technology that help us accomplish just this here at Jobful.
Curious to see how we do it? We don’t gatekeep, let’s chat.
