Resumes may soon be out of business. The world’s leading job finding company said that it will be trying to get rid of the document. Japan's Recruit Holdings Co., which runs and owns Indeed.com and Glassdoor, is trying to move ahead of the resume-based hiring process that currently dominates corporate practices across the globe, reported Bloomberg.
“The hiring process is still resumes, sending resumes, checking resumes. This is a great opportunity for us to move forward from old-school, incumbent resume-profile culture to asking: what can you do?" said Hisayuki "Deko" Idekoba, chief executive officer at Recruit.
Countries across the world are experiencing significant labour shortages as COVID-19 lockdowns disrupted labour patterns across regions. Easily available migrant labour willing to work for minimum wage and in terrible conditions has disappeared as migrants were unable to cross international borders. Many migrant workers also made their way back home when lockdowns caused them to lose their jobs.
Retail, agriculture and infrastructure are just some of the segments that have been affected due to the labour shortage. The demand for workers, in both blue and white-collar positions, has caused hiring activity to return to pre-pandemic levels in several countries.
In the US, companies are struggling to fill positions amid what is being called the “Great Resignation” where workers are demanding better conditions and more pay. The country is in the middle of one of the tightest job markets since the 1950s, some estimates suggest.
For Recruit, the surge in hiring activity has meant an increase of more than 100 percent in revenue as shares have climbed 80 percent in a strong rally. The company is now Japan’s fourth-largest corporate entity.
Idekoba has made Recruit ask companies to update their job descriptions and rely on other metrics than candidates resumes. Recruit now suggests companies ask posing questions and assessment tests for potential candidates in order to determine if they are able to successfully perform the tasks required at their position. Recruit then will store the answers so that unsuccessful candidates can use them someplace else.
The company also offers chat-based hiring processes for truck drivers, a profession that desperately needs more workforce, as truck drivers usually don’t spend a lot of their time in front of their laptops. The company is also focusing on training tools to help people write better resumes for the jobs that require them and help candidates identify skills that can be transferable to other areas of expertise.
(Edited by : Aditi Gautam)
First Published: IST