Are employers and candidates ready to ditch the resume?
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The end of resumes? On the surface, it seems like an impossible statement, but an office without floppy disks and pocket calculators would have once been considered unthinkable.???
The truth is, like any workplace tool, resumes are subject to obsolescence and will eventually be replaced. And that sell-by-date might be arriving sooner than you think.
One of the most notable statistics in our 2023 State of Skills-Based Hiring report is that 87% of employers say they experience problems with resumes.
Some of the frustrations cited include difficulty determining the accuracy of resumes and issues identifying whether candidates had the necessary skills for the role.?
Now, these problems aren’t new. Hiring managers and HR teams have been wrestling with the shortcomings of traditional resumes for ages.
However, in today's fast-paced work environment, organizations are facing a crucial choice: adapt and thrive, or stay stagnant and risk falling behind. ??
We’re seeing new technologies constantly emerging in the marketplace, creating a need for new technical skills. At the same time, we see many organizations rethinking the way they work – in an effort to keep their competitive edge, they’re moving to agile and cross-functional working models, which demand more from employees than ever before.
With these trends in play, it’s no surprise that 60% of organizations face talent shortages.
Candidates are frustrated, too ???
Occupational mobility is at the front and center of candidates’ minds in 2023. Over half of them tell us they have moved from one department to another or from one profession to another (e.g., from the military to software) over the past year.?
Amongst many of these individuals, there’s an implicit understanding that simply continuing along a linear career path is not a feasible strategy for success in the current job market.
As a result, they’re more than willing to give up the safety of their specializations in search of new skills, experiences, and opportunities.
There’s just one thing standing in their way, the resume. ??
Of the employees we surveyed, 42% felt they had been filtered out of the hiring process because of a lack of formal qualifications or experience. Yet another 42% said that they had trouble “standing out from the crowd” when submitting resumes.
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Skills-based hiring is the way to go ?
Over the past couple of years, skills-based hiring has gone from a fast-rising trend to a dominant approach.?
?? This year’s data shows that 73% of employers prefer skills-based hiring to resumes, a 17% growth from 2022.?
?? Meanwhile, 66% of employees say they have gained access to new employment opportunities through skills-based assessments.
And that’s just the tip of the iceberg. From significant reductions in mis-hires to substantial improvements in workforce diversity, employee happiness, and retention, the benefits of making the switch are clear and obvious.?
But, as with any traditional approach, resumes still have their supporters, 82% of employers have used resumes to hire in the past 12 months.
It seems then that we’re at a crucial tipping point in the battle for the future of recruitment.
Organizations could trust innovation and take concrete steps to solve their talent acquisition challenges once and for all, or they could continue with business as usual and hope these systemic problems will just…sort themselves out.??
?? We're cutting through the BS. Will you join us?
On 11th October, we’re going to dive deep into the data thrown up by the 2023 State of Skills-Based Hiring report to answer the question, Is this the end of resumes??
Stay tuned for the panel discussion, where we’ll feature insights from:
Our guests will also be standing by for questions and comments from attendees, so be sure to sign up for the live event now! Book your seat! ??
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