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Traditional methods of hiring have generally been pretty straightforward. Certain skills are needed for a job and if the candidate’s CV matches, then they are deemed qualified. But as turnover rates increase and only 1 in 5 New Hires succeed, HR managers see more and more that these methods need to be adjusted.
For starters, being a good fit for a job requires way more than just the required skills. In fact, skills are only part of the equation. What’s arguably more important is being able to fit into the company’s culture. Culture includes many things, but perhaps the most important feature includes being able to keep up with the pace of the workplace– something not shown on paper.
Being good on paper isn’t everything
Let’s take the example of a Talent manager looking to hire an engineer. On her desk, there are two candidates, Jeff and Denise. After graduating with distinction from a top engineering college, and having a prestigious internship in the field, Jeff perfectly matches all the requirements for the job. Denise on the other hand graduated from a community college with an equally impressive internship.
The Talent manager would probably pick Jeff for the job, due to his higher level of education. But after a few months, Jeff left suddenly, leaving the hiring manager befuddled. What happened?
And here lies the problem with traditional methods of hiring that put candidates into boxes based on CVs. What the CV didn’t show about Jeff was his need to know exactly what his tasks were in advance. The job at hand was for a fast-paced hi-tech company with a million moving parts and constant change, making it hard for Jeff to thrive and causing him to leave after several months.
If the Talent managers had taken these factors into account, Denise would have been chosen over Jeff, since her internship was at a fast-paced startup where she was used to that type of work environment. Instead, when the Talent manager focused exclusively on what’s on a CV and was unconsciously biased toward education pedigree, they lost money due to turnover.
Rethinking traditional methods of hiring
Led and founded by Yardenne Assa and Stephie Knopel, Unboxable strives to decrease turnover rates by getting hiring right the first time around. Unboxable’s contextual and code-less AI-based Job Simulators help Talent managers predict the success of candidates based on compatibility with a 93-percent accuracy rate.
How does it work? While applicants complete the simulation, they surface their true abilities, skills, predictors of success, and potential, rather than only their previous work history and education as they do on a CV. The simulator predicts the specific work style of the candidates so employers can assess their compatibility with the position’s requirements, including compatibility with their direct supervisor.
So if the Talent manager looking to hire Jeff and Denise had put them through the simulator it would’ve been clear that Denise was the candidate most suited to the specific opportunity. Unboxable would’ve saved the company precious time and money, by allowing the Talent manager to hire the right candidate the first time around.
By focusing on compatibility, Unboxable not only saves companies money by avoiding turnover, they also unveil a hidden Talent pool and foster more sustainable employment and diversity in tech. 90% of employers look to hire the 15% of Talent, that Unboxable calls “explicit” Talent, who look great on paper. Unboxable claims that 85% are still relevant and give these candidates who would have traditionally been overlooked due to outdated criteria, a chance to break into tech.
Unboxable’s Job Simulator also assesses a candidate’s ability to adapt to the changing conditions characterized by today’s market. Especially now, in a time of market volatility, it’s critical to have employees that can weather the storm, in order to decrease turnover rates, and contribute to making companies as successful as possible.
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