Recruitment Industry is dying. Future of Work is “Connecting”.
Answering the post of Oleg Vishnepolsky, Global CTO of DailyMail reckon that the recruitment industry has about 2 years left in it, 4 at most. This article were stating that machine learning, big data, propensity algorithms can deal with vast networks of connections much better than a human can.
YES algorithm do better than humans can! So now what’s up?
Let’s understand the situation first :
Critical mass of the new tools, some of which are available now, will arrive by 2018 right when the next recession is predicted to occur. That’s when the companies and internal recruiters will start pulling back on the recruitment agencies fees, and using the new tools en-mass. Once on the tools, they are not coming back, ever.
The latest text analysis algorithms can pick out skills and experience much better than humans can, about 10 million faster.
There are trends in the tech industry that are harbingers of a major disruption in the field of recruitment.
You might find these links interesting: Harvard Business Review: In Hiring, Algorithms Beat Instinct, How Machine Learning is Revolutionizing Recruiting, To all recruiters — use machine learning to hire better candidates, What Machine Learning Can Bring to Corporate Recruiting, Harvard Business Review: How to Hire with Algorithms, WSJ: Funding Snapshot: Machine Learning-Powered Recruiting Software Atipica Raises $2M Seed, 2016 will be the year of (machine) intelligence in recruitment.
“A change is not necessary, just like survival is not mandatory.”
We love recruiters. They are hard-working, fun-loving group of people. There are some bad apples there too who create fake jobs, do not return calls, treat candidates with prejudice and disrespect like cattle. Those bad ones give the bad reputation to the industry and will get eliminated by the more efficient marketplace.
Yes, great recruiters will always be needed. The question is how many.
How many travel agents we have now vs 10 years ago ? 2018 recession will be the catalyst and the tipping point. Say, recession lasts 2 years. Hiring always lags, and by the time the job market will be hot again we are in 2022. By that time the tools would be too powerful and proven to work.
With over a billion workers in possession of a smartphone, SMEs and job seekers can now reach each other like never before. At the basic level, geolocation means you can match the right person to the nearest and most appropriate job, reducing the time and money wasted on expensive and polluting commutes. With chat, reviews and integrated video capabilities, recruiters will have instant access to job seekers and face-to-face interviews will soon be a thing of the past. Automation will soon replace tedious manual tasks such as background checks, CV screening, contract negotiations and tax filing, reducing the hiring process from weeks to days. Machine learning will analyse a number of signals across job postings and applicants (such as salary expectations, skills and reviews) to match demand and supply in real time. This will fundamentally change how recruiters and employees interact with each other. As an employee looking for work, there will be no need to actively search because new jobs matching your criteria will be sent to you on your mobile via push notifications. Sophisticated matching and scheduling will help employees fill their time according to their preferences and flexibility, improving their quality of life. Employers on the other hand will finally have a tool to fill different roles, including shift work in near real time since they will have permanent access to a qualified pool of relevant candidates.
What is needed to change for candidates? With the Gig economy, today, even if millions of jobs worldwide are open online, candidates are still restricting their choices to their close network & direct locations. Visibility, transparency & flexibility of potential career choices need to be coached to candidates by recruiters. Candidate expect more and more transparency on the application review, speed of the interview process & access of careers worldwide & choice of flexibility.
What is needed to change for recruiters? To focus on doing what recruiters are the best at: connecting with people & change their lives. While using technology to scale “connecting interactions” to monetize their network with different approach, build influence, using trusted relationships, becoming “Connectors”.
Society Is Destroying and Rebuilding Itself for the Networked Age
Connecting industry will rise.
As automation rise on every fields, trusted connections & real humans experiences will prevail. Humans relationships will be valued greater than ever.
Amazingly, a connector with a smartphone proved more powerful than fighter jets and tanks.
“Connecting” : decentralized, trust based referral networks
There is likely a great disruption coming for junior headhunters because the technology and data provide a level playing field. The internal recruiting may not need the external agencies to the same extent as they do now. The internal recruiting will have the same tool set and data. Senior headhunting will reach highest profits while Junior headhunting will be replaced by decentralized referral networks “Connecting”
Recruiters will evolve
to become “Connectors” using tools like Linkedin to nurture a vast network of worldwide connections & monetize it with not only talents connections but also sales & investment connections. People will engage with opportunities worldwide like never before.
Recruiting VS Connecting :
Connectors, as former recruiters but also ANY person who know someone working on a project driven with purpose & in need of help, will connect their network of friends & talents with opportunities around the world. By using technology tools like Linkedin or Facebook they will be able to identify their past relevant relationships among the 1 Billion global talent pool.
As automation rise, trusted relationships will rule
Other Connectors have great relationships with managers & CEOs, and as the recession will occur, Connector will be the cheapest & most efficient way to engage companies decisions makers for value added services & sales opportunities. The world will shift from in house recruiting to freelance, decentralized & referral based recruiting : CONNECTING.
Connector, will be the last job on earth?
Think about it, after self programming robots, self driving cars replacing taxis, etc, what jobs will stand still?
Connectors reputation & trust will rule the success of these connections for anything related to people (hiring, sales, investments etc). Thus, connectors will be highly influential & that is probably one of the last job that will exist on earth.
This coming disruptive transformation is all about empowerment of people working on projects driven with purpose.
Remember : The World Is Complex, Not Complicated
Complexity scientist Samuel Arbesman has argued that our modern technological age is bringing with it an end to the knowability and control we may have once believed was coming.
More complexity produces more interaction, as you would expect, and that means that what lies ahead is going to be even harder, more challenging than what we’ve faced. Things won’t be good or bad, wonderful or terrifying — it will be all of those things at once. The world is shifting at an unprecedented rate, and this holds both promise and peril.
Whether you call this death of an industry or a disruptive transformation by the “Connecting industry” is open to a definition discussion.
[Next post] GetLinks is on that way to help create 100,000 connectors jobs & with the “Connecting industry”, will help change the world, one hire at a time.