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TTL V4 Lookback-State Of The Industry: The Algorithm Age

Welcome to Talent Tech Labs Lookback. We spend a lot of time exploring the Talent Acquisition Ecosystem and Marketplace, but while every TTL Trends Report focuses on a different theme, we occasionally like to look back at some of our greatest hits.

This lookback features insight on the new age of algorithms in recruiting from Matthew Franklin, Director of Recruiting at Mitchell Martin, Inc. He touches base on what algorithm means in talent acquisition, the formula for success with algorithms and overall recruiting efforts when it comes to the algorithm age. Take a look below to find out exactly what you’re missing out on and why talent acquisition and algorithms are more important than ever before.

Understanding the algorithm age has never been easier with the latest V4 Trends Report Lookback. Take a glimpse into the world of algorithms and recruiting:
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Finding Recruiting Success in the Algorithm Age

I have been in the staffing industry for more than 18 years as a researcher, recruiter and an executive who currently leads a global team of more than 60 IT recruiting professionals. Part of my job is to demo and review the hundreds of new service offerings and platforms that have hit the talent acquisition landscape in the past couple of years.

After participating in more than 75 new product demonstrations, let me simplify and summarize the sales pitch I hear most frequently:

— Product ABC is going to boost efficiencies in your most inefficient process in your enterprise: Recruiting and Hiring

— Product ABC is best in breed and is battle tested

— Product ABC has a great UI/UX that your users will love and integrate seamlessly into their toolkit.

At this point, I usually ask a simple question: “What differentiates Product ABC from some of your competitors?” I receive the same answer 95% of the time: “Our Proprietary Algorithm.” “Algorithm” is by far the most over-utilized word in talent acquisition space. As a refresher, an algorithm is a procedure or formula for solving a problem.

And there you have it. The sales rep is basically telling me that Product ABC has the BEST formula for solving my problem: finding and hiring talent! I feel much better now! I am ready to sign the contract!

All kidding aside, algorithms have advanced and helped many of us in the recruiting field. Search technology is better and more robust than 10 years ago. Recruiting professionals are able to search through 1000s of applicants in nano-seconds for certain skills, educational backgrounds etc.

Curious how you can find success in recruiting? Take a look into the V4 Trends Report Lookback to get the answers you’ve been searching for:
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However, what is often under-reported is how profoundly technology and algorithms have changed the job seeker experience. An active candidate—and I believe that 90% of all people are active and willing to listen to new job opportunities—has never had more powerful tools to help find a job. Job aggregators like Indeed, plus traditional job boards, have harnessed these algorithms in ways that have made the role of the recruiting professional that much more important. Candidates are being constantly bombarded with job alerts and applying to jobs has in many cases never been easier. It’s hard to imagine anyone being “passive” in this environment. Recruiting professionals currently occupy the bridge from algorithm to successful talent acquisition. I believe that all of this technology has actually made the role of the recruiter MORE important than ever.

Any recruiter is able to utilize technology to get to a potential pool of candidates. The SUCCESSFUL recruiter is able to engage with candidates outside of email, build relationships with talent, take a personal interest in their careers, and leverage that relationship for referrals, leads, and turn a transactional interaction into a more meaningful long-term affiliation. As the war for talent intensifies these skills will only become more important.

Fortunately, I am not aware of any algorithm that is capable of doing ALL of that! And that is why I am more confident than ever that recruiting professionals will never be replaced by technology. They will be augmented, they will be enhanced, but they will continue to be a cornerstone of any successful talent acquisition strategy.

About the Author: Matthew Franklin is the Director of Recruiting at Mitchell Martin, Inc. He is responsible for leading the recruitment function for MMI’s national account delivery team, sourcing contract and full-time IT professionals across the United States.

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Published on Feb 22, 2018