Is the recruitment system broken?

Our research team has been trawling the net for stats and facts about the recruitment sector and about the working world - so we can start to proactively prepare for the coming years - and these are some of the most mindboggling and exciting ones they found - the numbers may shock some of you.

- 80% of all jobs that we will work in, in the next decade, have not been invented yet. (Dell)

- Approx 70% of all Attorneys (globally) will be working in the gig economy in the next 7 years (various)

- Emerging economies, with larger and younger populations, are changing the global picture with millennials making up an estimated 75% of the global workforce?(Deloitte)

- Millennials are the most likely to want a remote option. A whopping 84% of millennials say remote work is important vs. 66% of Gen Z, 75% of Gen X?(Axios)

-?84% of Millennials and 81% of Gen Z’ers say they value the variety of work in the gig economy/freelancing as opposed to a permanent role.?(Mint)

-?Korn Ferry?predicts that as many as?85 million positions?will likely go unfilled in 2030 as global skills deficits reach an all-time high, likely to cost businesses over US$ 8 trillion in lost economic opportunity.

- The past two decades in recruitment have been largely directed by access to data, that's what LinkedIn gave us, but with LI now being recognised as largely an unverified mess, the future of recruitment is in verification, accessibility and connectivity. (Nabii Research)

- The annual spend on recruitment services is US$761Bn. (Various)

But the cost of bad hires is estimated at?US$3 Trillion?Globally which inc Re-Hiring costs, Lost: Training costs | Legal Costs | Productivity at 36% - Impact on Morale at 32% and Client Relations at 18%?

And the cost of Low engagement, or “quiet quitting” is put at US$7.8 trillion per year. (IBIS World, Society for Human Resources Management, Gallup Research).

So let's get this straight: -

• Most people prefer the flexibility of working in the gig economy to having a full-time job and this trend is set to continue.
• 70% of lawyers will be working in the gig economy in the next 7 years, as firms stop hiring “full-timers” and just bring in specialists to do each project
• 85 million positions will go unfilled because of skills deficits
• In the next 10 years, 80% of available positions and projects, haven’t yet been invented
• A combined US$18 trillion is due to be lost in recruitment spending, hiring the wrong people, and people not engaged and not trained.

Yes, that's a Trillion with a T.

All of this combined is leading to huge shifts in the way we work and recruit for specific projects, which means the future of staffing, resourcing and careers is going to look completely different from now on.

The way you will work and the way you will build a team to deliver - has now changed forever. To some degree, we all dislike change, but change is inevitable and the best way to counter it, is to embrace it and “own” it.

So what are we going to do to bring excellence in recruitment to all our clients and candidates?

Well, one thing we did is we looked at the only skills-matching software platform we could find, across the world that had the solution for all of these changes in the world of work.

We had to embrace that recruitment is largely reactive, and we need to be more proactive

We wanted a platform that genuinely understands the meta trends in the hiring market, understands the symbiotic relationship between the skill holder and the skill-needer, and recognizes that it's time the data and revenue are circular in the recruitment process, a platform that rewards accuracy and verification.

We found Stiint-It and we launched Umbiie

Stiint-It is the first skills-matching technology that every business can private label, that shares anonymized, protected data and introduces a circular revenue model. For businesses that deploy a Stiint-It platform, they turn recruitment costs, into a profit-making department within 12 months.?

We wanted a platform that we can get behind and tell others to use.

Stiint-It.com is truly the best thing I have seen in the last 15 years in global recruitment. Not because it's AI, not because it has deep analytics, not because it's all fancy bells and whistles, but because it's a simple, effective skills matching tool and it actually does what the candidates and clients genuinely want - it is fast, it rewards all the stakeholders, it recognises the importance of the candidate's skills, experience and verification above all else, it builds a genuine community of skills sharing, and it is not looking to replace any platforms, it can work alongside existing tech, it doesn't pertain to be "the answer", it doesn’t aim to replace anyone, it promotes community? - AND it introduces a unique concept....people share the revenue generated....this is revolutionary, it turns a $10 trillion cost (recruitment, bad hires, loss of productivity, lack of engagement)?into a profit and very soon every business will be using Stiint-It alongside their other recruitment software platforms.

I have spent 20 years in global staffing and I advise everyone in TA, HR, Recruitment Agencies, and Innovation - in every department - to check out Stiint-It today, and let's all get one!