Companies understand that a great vision is useless without the necessary skills to achieve it
Employers, whether they like it or not, understand that the degree of success of their companies revolve around the quality of employees they have. Co-founder and former CEO of Apple Computers, Steve Jobs, once said, “The secret of my success is that we have gone to exceptional lengths to hire the best people in the world.”
In that sense, the job market is a candidate-driven one, which 90% of recruiters believe. However, over 50% of employers and candidates believe the current labor market is employer-driven. This is because according to statistics, one job ad receives, on average 250 applications. Employers believe they “still have the opportunity to pick from a pool of potential employees,” and are, therefore, in the driver’s seat. However, recruiters and hiring managers see that “Candidates are in higher demand. There are more open positions than qualified, interested and motivated candidates to fill them.”
In particular, sifting through hundreds of resumes, recruiters and hiring managers are despondent, unable to find suitable candidates with required qualifications to fill open positions. This factor as well as a frustratingly lengthy hiring process prevents netting in good candidates.
Even as recruiters and hiring managers receive hundreds of resumes, they are confounded by the negatives that make it difficult for them to consider the job-seekers as potentially viable candidates. For instance, according to the recruiting website CareerBuilder, 34% of hiring managers seek quantifiable results on a resume. According to a recent survey by a recruiting website, there are specific significant reasons for recruiters to dismiss applicants as unviable. 84% of them find as unacceptable, impersonal applications, which do not mention the hiring manager’s name, while 57% believe a Thank You note after the interview is essential. 54% of hiring managers want to see customized resumes and 45% disapprove if there is no cover letter.
Above all, social media is having a significant impact on how hiring managers and recruiters view job applicants. In the U.S. alone, there are 30,000 job search websites. Even as job applicants are able to apply for any and every job they see online, company hiring managers are equally able to gauge online if the applicants are indeed suitable, and have the skills they say they do. Social media presence, therefore, has become increasingly important in the hiring process. Recent surveys show that 3 in 10 employers have someone dedicated to solely getting the scoop on applicants’ online persona. Surveys aimed at job applicants indicate that the applicants are aware recruiters and hiring managers look up their social media profiles, specifically on LinkedIn. As global organizational consulting firm, Korn Ferry found, about 40% of U.S. companies have outsourced most of the hiring process in their organizations to Recruitment Process Outsourcers (RPOs) or outside recruiting companies, who, in turn, often use subcontractors, generally in India and the Philippines.
When companies try to find their own candidates without the help of recruiters, they find they are almost immediately overwhelmed. With only 35% of applicants being actually qualified for the jobs they apply to, one job advertisement may attract hundreds of applicants, many of them unsuitable. However, the volume of resumes makes it hard if not impossible for hiring managers to consider each application in detail. In fact, the average time spent by recruiters looking at a resume is 5 to 7 seconds. This is actually unfair to all because, with this cursory method of weeding out the unsuitable, the really worthwhile candidates may get weeded out as well.
This is where the importance of recruiters can be seen, for they are able to devote time for in-depth reading and analysis of resumes, for that is their job.And so, they are able to zero in on essential skills through skills matrix templates.
Thus, it is critical to identify the candidates with the skills needed for the position without too much delay, for, companies can easily miss out on the best candidates by not giving the necessary time to skills each one brings. Furthermore, if the volume of resumes delay hiring managers in reaching out to qualified candidates, they may lose them altogether to competition.
Complicating the hiring process is the contemporary way of drawing talent to a company. Human Resources Departments of organizations post-World War II, were heavily into analyzing jobs, and determining the tasks for those jobs, then conducting a job evaluation to determine how a particular job fitted into the company’s organizational chart, then determining remuneration for the position in relation to other jobs in the organization. When the job was posted and applicants applied, they sorted out applications through skills tests, reference tests and personality and IQ tests. It is significant that most non-entry level positions in those earlier times, were filled by promoting from within, and training the employees accordingly.
However, in the current job market, most non-entry level positions are also filled from the outside, with the hired employees already possessing the necessary skills and experience to hit the road running. As census data shows, many people who accept new jobs today, are not even seeking one. Someone simply approaches them and lure them into a new position. Also, many employers today advertise positions they are not looking to fill, which probably don’t even exist. Through this strategy, they hope to find possible candidates for future needs, or to find candidates for hiring in a different context.
The focus is finding extraordinary talent. As American author and business management consultant put it astutely, “Great vision without great people is irrelevant.”