Academia may come up with ideas on how to reduce friction in the labor market, but it is the businesses’ responsibility to implement the methods for real growth in output. Dale Mortensen won the 2010 Nobel Prize for his thoughts on how to reduce friction in the labor market. SmartRecruiters looks to Professor Mortensen as proof that the labor markets can and should be made more efficient.
New Features This Week:
- New and improved payment process: We have updated the user experience of the payment process to make it easier to use and visually more appealing.
“We need to leverage technology to bring recruiting back to its’ roots as a social activity.”
The Founder of the Zero Unemployment Movement and CEO of SmartRecruiters, Jerome Ternynck, explains, “We created unemployment by allowing our economy to build a labor market that is not functioning properly; a labor market that is not effective.”
It’s no secret that Twitter is an information search engine. With more than 340 million tweets per day, it is now the place for breaking news. Even the raid on Osama bin laden was accidentally live tweeted by someone who was complaining about loud helicopter noises in a remote area of Pakistan. He later realized via Twitter once the news broke of the raid, how exactly he had been involved.
At the recent HR and Tech event in Mountain View, Saad Khan, a partner at CMEA Venture Capital, said determining cultural fit is one of the biggest unsolved challenges for hiring managers today.
The explosion of job boards and syndication platforms means it is relatively easy to get job opportunities in front of candidates. New technologies that parse resumes and give scores on the skill-fit of candidates make filtering and hiring easier. Still time and again companies spend thousands of dollars hiring then firing the wrong candidates, after missing the mark on whether a candidate has the right cultural fit for a given office or department.
With all the news surrounding LinkedIn’s impending IPO, one must wonder, how firm is their grasp on professional networking industry? Can Facebook take over the professional network? How people apply to jobs is a good indicator of where people prefer to store their professional information. Let’s examine the activity of applicants through the two most powerful social networks, Facebook and Linkedin, within the SmartRecruiters’ ecosystem.
Today we are excited to share the new features of our platform. We revamped the interface of the jobs list. You will be able to sort through your jobs faster than ever before.
In the ongoing search to figure out new ways for technology to improve the recruiting process, I spoke with Kevin W. Grossman in Santa Cruz, CA. “The world is changing with regards to employment. It’s never going to be the same way it was,” Kevin Grossman said.