We all know that the hiring process is broken and inefficient – but the stats on exactly how bad it is will still blow your mind. Read how the the community is stepping in to fix this mess, and how they’ve already improved the numbers 48-fold.
How can everyone in the world of hiring be complaining? Job seekers are complaining because they’re tired of sending resumes to ‘black hole’ applicant tracking systems (ATS) and never hearing back, hiring managers are complaining of a lack of qualified talent for their positions, and recruiters are complaining about there being too many open positions with too little time to fill them.
How can there possibly be “too many jobs” and “too many applicants” at the same time? Simple answer: A bogged-down, old, messy, and terribly ineffective process.
Why You (Probably) Won’t Get Hired Through a Job Board
A large corporation will get anywhere between 100 and 250 applicants per open position, and will hire one person. And according to statistics compiled by Jobvite, if you don’t have a referral, your chances are even lower than 1 in 100 – then you’re down to 1 in 200, and in the case of job boards, 1 in 300.
Here’s a hard to believe compilation of how many separate job applications an average job seeker has to make through a job board to have a certain chance of getting hired:
If you apply to 100 different jobs on a job board, your chances of getting hired for one of them are about 29%.
Online applications are a pain to get through. And 299 out of those 300 exhausting attempts go to waste. It’s dark and ugly. The process is broken.
But don’t worry, people are on it. Who?
Referrals, Referrals, Referrals
Referrals provide the highest quality applicants by far in every measurable metric. It’s the cure-all for hiring that could finally kill the monstrous and deeply entrenched old hiring process, but it only makes up 7% of all job applications! Everybody should be pushing for more referrals!
And today it makes sense more than ever! Referrals are about connections. This is the ageof connections. The most powerful innovations of our time are not items and products produced by companies – they are platforms to help people find and provide value to other people.
Uber and Airbnb are perfect examples: No single company can operate so many taxis and drivers all around the world. People do. No single company can have so many places for rent all around the world. People do.
Referrals are by nature about connections. And yet, in our over-connected world, we see no useful technology that specializes in utilizing this mind-bending network to do what it’s most qualified to do – make people work where they belong.
EmployUs – 48x Better Than a Job Board
We are excited about EmployUs. So, so excited. We’re working day and night to bring it to you.
With the EmployUs app, we are building a community where anybody can refer anybody else for a job, and get paid if their referral gets hired. We are big believers in the sharing economy, and we think this is how you fix a broken industry – you empower people to do the job. People always do a better job than any company can.
And they will. Not just because of the financial reward for it (a hefty $3,000 payout on average!), but also because of the sense of satisfaction of helping a friend. Making something happen. The same satisfaction that we feel when we show someone a YouTube video and they love it.
We are often called the “Uber of recruiting” – we are flattered for sure, for Uber is a $50 billion company that revolutionized another deeply flawed industry, but it was only one industry. What we are working hard to do is to revolutionize “the industry”. Of everything. Everybody works somewhere, everybody gets hired, by companies big or small.
It is a daunting goal – we have no illusions. But America – we have never been more excited about anything else! The closed beta we’ve been running has been phenomenally successful – 1 in 6.2 applicants got hired. (Compare to 1 in 300 for job boards.) One guy referred just a couple of his friends and within a matter of weeks made $4,500.
We’re now gearing towards an early January launch. We won’t change the world overnight, but we believe we will lead the (long due) hiring revolution.