The first phase of recruitment is arguably the most difficult one. Picking the best candidates out of the thousands that are employable is a daunting task. The difficulty of this process has for a long time vexed both employers and recruiters seeking to make the process more efficient and precise.
Fact is, employers are unsatisfied with the candidates they receive through recruiters. We interviewed hundreds of Canadian employers and found 58% of hiring managers feel their candidates lack necessary skills for their job requirements and 43.5% feel their candidates lack a knowledge of their job role. This means that the pre-vetted candidates are generally either too limited in skills or numbers, making placing the ‘perfect’ candidate nearly impossible. In fact, 46.5% of hiring managers compromise on the candidates they hire because the pool is so poor. This is disheartening considering more than 60% of the time the process takes between 2 and 6 months.
So, to fix this problem, most employers are increasingly turning to technology. Almost 80% agreed the recruitment industry could make better use of technology in aiding the recruitment process. This is unsurprising. While the other facets of business are rapidly evolving, most notably and predictably IT, the recruitment industry seems, to a large degree, the same as it was ten years ago.
Technology allows employers to make the selections themselves, alleviating the need for recruiters to provide candidates. However, most current technology forces employers to browse through thousands of unvetted candidates. But this is a costly and time-consuming process.
A better solution would bypass the need for recruiters to guess what employers are looking for when developing lists of potential candidates and employers to get the vetted candidates they desire. In fact, 56.5% of hiring managers in Canada would be happy with unlimited pre-screened candidates to avoid the bad ones. By allowing hiring managers to pursue candidates at their own pace and, more importantly, within their control, tensions between employers and recruiters would ease significantly. Globally over half (53%) of businesses often feel recruitment agencies are not sharing all their possible candidates with them. This scepticism hurts communication between recruiters and employers and poor communication means poor business.
Here at The Search Party, resolving this tension and achieving this efficiency is exactly what we are trying to do. By creating an online talent marketplace, we have taken away the unfair responsibility and expectations put on recruiters and given employers the control they need. Our system has an average of 12 days to fill a place in a company. This means more candidates can be placed, more money for recruiters, and more happiness for employers. A new technological age is coming for the recruitment industry, an age of efficiency and ease.