A Smart Data Collective post entitled Robot HR: How HR Is Contributing to Unemployment asserts that human resource professionals have no real ability to have an in-depth awareness for each position, and therefore rely on keywords and software to do their pre-screening for them. Often in this scenario, the "right" people are never passed along to the hiring manager -- the folks who really understand the positions and can distinguish beyond keywords to identify true skill sets.
At the same time, this inefficiency drives higher employee costs and requires more resources to effectively manage an organization. According to the Bersin report by Deloitte Research, a fully-integrated, mature HR organization that is fully integrated into the business will require one HR staff person per 64 employees, and cost $4,434 per employee per annum.
This compared with just $2,112 among those at the lowest level of maturity, which tend to have compliance-driven HR functions. There is a three percent disparity of involuntary turnover in companies with the higher investment, in other words, they keep more people.
Clearly, there is a lot of cost associated with effective HR, but even that doesn't really solve the problem of getting the right eyes on resumes early in the process. According to the April 2015 Aberdeen report "Hiring Success Management: Moving Beyond The ATS," there is a stat that businesses that employ an end-to-end talent acquisition solution will improve their time to hire by three times compared to those that don't. What this tells me is that appropriate use of technology that goes beyond simple keyword matching is the solution that is needed to help solve this crisis.
A new, interesting industry solution comes from Gild. By using data science, social media integration and predictive analytics, Gild's human resources platform makes finding, engaging and hiring the right talent simple and smart.
The company has a really impressive suite of technology crawling various networks and systems (e.g., GitHub) where talent has their information. There's a massive repository of talent in the Gild system, and though its not designed for such, a user can add himself if he or she isn't aren't already there. From that point, a company or hiring manager can use Gild to search for talent with a broad range of keywords and get instant metrics and result sets on the various keywords, and candidate profiles are saved for further review.
The interface paradigm matches that seen in current social media platforms so it is familiar and intuitive.
Linking in Better than LinkedIn
TripAdvisor learned this first hand. The travel site's sourcers and recruiters typically seek to find senior talent with specific expertise to fill niche roles within the company. But, top prospects on LinkedIn are often inundated with recruiting messages, leading to disappointing response rates.
Using Gild's consolidated, comprehensive information about candidates, the company's recruiter was able to identify a target and craft a personalized message delivered to the candidate's direct email address. The prospect replied quickly to the recruiter's customized message, and impressed with the specific information the recruiter referenced about his interests, ultimately accepted TripAdvisor's job offer.
Where Gild is going and brands like TripAdvisor and others are discovering, is where hiring needs to be moving. It will help reduce HR costs and improve effectiveness.
Get the best person in for the job and help reduce overall unemployment by effectively and efficiently connecting people together.