Recruitment is broken, what are businesses doing to fix it? | FT Working It

Businesses are fighting a skills shortage as two massive shifts are happening at once - a rapidly ageing population with fewer young people entering the workforce and generative AI changing how candidates and employers tackle recruitment. With big investments at stake, how do companies find the right candidates?

#recruitment #companies

[armandlize]

the only real skill shortage is in HR departments

[RolopIsHere]

"Skill shortage" ... they ask 10 years of experience on tech that only has 3 years of existing....

[mayormccheese]

Most companies expect you to know everything yesterday. There's no on the job training. I'm not going to bust my hump hyper-focused on learning one particular role when it could be gone tomorrow and there's only a 5% chance of actually getting hired.

[Arinamee]

as someone who is looking for a job for months I find this recruitment with AI stupid. I applied for the same job with almost the same criteria as my last job and I didn't even get a phone call, so of course you have a shortage of people. Humans can't be replaced!!

[JogBird]

i came here from a cnbc video on the rise of ghost jobs

[veronaconley]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[deelawdazhahs]

Perhaps companies and recruiters need to start evaluating potential rather than work experience. Particularly in tech where things are moving really fast, msc and phds become redundant after two years, companies ought to invest in upskilling candidates with potential. Create the finished product rather than looking for one

[chrisdiboll]

It’s all lovely, but we’ve known for decades that the standard CV, cover letter, interview format is about the worst way possible to hire the right candidate. I see no reason why AI should be more effective than any of the other advances that have shown the inadequacies of this approach in getting companies to stop doing it. 9/10 times the ‘this is how we’ve always done it’ crowd wins at big firms.

[momo]

It's funny how firms are complaining about not being able to hire whilst they have huge pools of talent to pick from and also don't pay good wages given the current inflationary environment we're in lol. Someone working in accountancy in a top London firm only gets paid 27-30k what a sham for working 10 hour plus days. Yet they still expect 'top talent'.

[danielgrayling]

"...lets just scroll down to the comments to find out the actual problem expressed in a single sentence."

[desdicadodog]

Well the best birth control is an educated society

[tdtm]

It's not a 'skills-shortage'. It's recruiters asking for EVERYTHING under pre-requisites and not bothering to train staff anymore. I cite one example when someone programmed something from scratch and got interviewed by people who wanted the programme. They choose not to employ him because he didn't have the 3 years + experience on the software they had requested. Also how does a year's experience make any difference from knowing how to do something? I did a 0 hours' contract a few years' ago and I was let-go as the HR person failed to understand how basic law in recruitment works (I discussed an employee's holiday with her) and finished my contract. They hired for the position full-time. With experience with the software which no one has. Also have you been on dating apps as a man? It's impossible. Every woman wants top ten percent man which is impossible. And I've got a lot of work experience and worked in technical management and have a disability before anyone starts. Average job application is 75-100 people and it's impossible. Also there's degrees but nothing which prepares people for work which would actually halp companies recruit a lot more. Plus the lack of awareness of neurodivergent talant is staggering....

[danielgrayling]

So people aren't having enough kids...
So we need to get all the people over 50 to go back to work, earn more money, buy more rental properties to let out to 4 to 5 people in their 20's and 30's...

20 years later: "We have a serious shortage of young workers and the ones that we have are all depressed, what's going on?"

[GrooveTasticThang]

Companies don’t train and they concentrate on getting rid of the over 55’s as they are considered expensive and slow ( ie won’t work every waking hour for nonsense targets)- time to train and retain, simple

[afroscifizianzcomix]

Lol,
This has been one of the most pathetic videos I have seen. This is the business world you wanted and are now crying about it. Also, I can't believe companies are still talking about skill shortages. More like a decent pay shortage 😅😅. Humans and AI working together still struggle to find the right candidates 😅😅.
You couldn't make this up.

[agushi]

create better teaching systems that integrate with the workforce (skills or knowledge whatever is demanded). When you don't invest in young people's development and only want the rewards of those talents. It's no surprise that recruitment is facing these problems. Make better academies (not literally, and you will find a greater talent pool). Invest in people is more important than random businesses and companies that doesn't align and give u a ROI

[davidegan]

It they own fault for not training young people and going to third world and importing cheaper labour.

[TheShadowSlaughter]

They asked for "good work Attitude" & "Drive". Ok, the next plan will be acting the hell out of their "Expected Best Work Attitude"

[supr_be]

skill shortage in my country is just an excuse to hire experts from abroad for half the wage.

[henlohenlo]

immediately you send a misrepresentation to the public. there IS NO SKILLS SHORTAGE. this is true for just about all sectors of the market.

some sectors have SERVICE shortage, but that is linked to antitrust and anticompetitiveness of those markets. but here is NO SKILLS SHORTAGE. in just about ALL FIELDS OF WORK. anyone who tells you othersides is deliberately misrepresenting the market conditions to fool the public.


you are presenting to the public false information about the markets. it still bothers me to hear it. for example werner enterprises the trucking company would misrepresent the market when trying to fool the government and new recruits. but their company size has stayed 9k employees for 15 years strait, they hire 1000s of people each year. they OVER HIRE, and generally this leads to bad treatment of all of the workers as a whole, intolerable work place. but this reckless behavior is still occuring and stems from their misrepresentation that keeps enabling it. it's reckless overhiring with fraud attached, they misrepresent the market conditions while harming alot of workers.