Revolutionizing The Job Hiring Process
Since the 1500s, resumes have been the prime way to apply for jobs and recruit applicants. Even so, research shows that this long-time way of job searching can be ineffective, expensive and time consuming.
The Job Recruiter:
Employers end up hiring applicants who are less qualified than expected based on their resumes (and miss out on applicants who may have more potential than what is written on their resumes.)
Employers end up spending time and resources on training and bad hires
In order to remain as efficient as possible with so many resumes being run through companies, many companies use ATS which filters through resumes based on key words. Recruiters/Employers miss out on applicants who may have a lot of potential, because they didn’t have key-words in their resumes.
“In 2015 alone, 80% of employee turnover was due to bad hires” (Yager)
“63% failure to produce the proper quality work” (WePow)
“619 thousand new resumes a month in the U.S. alone; up to 1 million new resumes a month worldwide.” (Monster)
“60% of all companies have some type of ATS (Application Tracking Systems.” (Bersin)
The Job Seeker:
Applicants who have a lot of potential missed opportunities not because of a lack of talent/hard work but because of what is written on their resumes
Applicants cannot be accurately portrayed with one piece of paper
There is a limited way for an applicant to get started to increase experience/networking. Catch 22: You need a job to get experience, but experience to get a job.
Challenge X is a platform that focuses on discovering ability and talent by allowing job recruiters to post challenges directly related to their open positions.
The terms of the challenges are completely up to the company posting them, including: timeline, requirements, and awards; and the winners of the challenges will always receive either an interview, internship, or position.
Applicants that do not get called back by recruiters keep the work they do for their challenges in their Challenge X profile as intellectual property.
A leader board will be provided for each field to showcase highest scores of challenges - this creates potential for those job seekers who did not get a call back from a particular company, to be sought out later by other companies/recruiters/scouts; this also allows job seekers to build a resume of challenges for future reference.
This is a practical idea because it has a natural screening process. As the process requires time, effort, and dedication, it will naturally filter out the noise, leaving behind only the serious and talented candidates.
Challenge X addresses the primary issues, for both the job recruiter and the applicant. It saves companies money in the long run by investing into the right candidates, and it allows qualified applicants to progress in their career based on their talent, not pedigree.
This solution focuses on ability, it is more efficient, and it eliminates the possibility of bad hires.
Bersin, Josh. “Are Applicant Tracking Systems Now a Commodity?” Bersin by Deloitte, 7 Sept. 2016, blog.bersin.com/are-applicant-tracking-systems-now-a-commodity/.
“Labor Statistics & Trends.”, hiring.monster.com/hr/hr-best-practices/market-intelligence/labor-statistics-trends.aspx.
“The Cost of a Bad Hire.” Wepow, www.wepow.com/en/blog/the-cost-of-a-bad-hire/.
Yager, Fred. “The Cost of Bad Hiring Decisions Runs High.” Dice Insights, Dice, 5 Jan. 2012, insights.dice.com/report/the-cost-of-bad-hiring-decisions/.