Finding and retaining top talent are the greatest challenges companies experience worldwide. Traditional job requisitions, recruiting practices, and interviewing and hiring processes are not working.
According to LinkedIn, the annual $2.5 billion spend to attract talent targets less than 15% of the talent pool, which results in companies’ hiring the best candidate who applied for the job, not necessarily the best candidate for the company.
In addition, the workforce is going through the largest shift in decades. Every day, 10,000 Baby Boomers retire, and 10,000 Millennials enter the workforce, with Gen Z closely behind. As a result, traditional recruiting and hiring processes are not working. In January 2020, over 50% of the workforce in the United States will not be working the traditional 40-hour workweek.