Today’s employers are faced with the challenge of recruiting, training, and retaining top graduating talent from the university / college talent pool. With the current unemployment and underemployment rates of recent graduates in Canada and the United States hovering around the 40% mark, graduates are desperate to get their resume in front of an employer. These resumes, however, are no longer handed straight to a hiring manager. With technological advances in Applicant Tracking Systems (ATS), employers no longer have to manually sift through sometimes thousands of resumes to make a short list of candidates.
The challenge for employers is recruiting and retaining the top graduating talent. With current hiring practices, employers could be missing out on 80% of graduating students that apply for a job. Graduating students have not yet learned to “beat the ATS” but organizations are starting to see a trend in resumes being doctored to be noticed by the automation tool. Employers need to recognize that within this 80% of graduating students lies untapped potential that won’t be discovered through traditional hiring practices.
While ATS’s save organizations time and money, research is showing that this technology may not be uncovering the candidates with the greatest potential. Job services provider Preptel found that the ATS can eliminate up to 75% of candidates’ chances of landing an interview as soon as they submit their resumes. Bersin and Associates , a technology and research firm, created a perfect resume matching the job description for a clinical scientist position. This resume was sent in through the ATS system and only scored a 43% relevance to the posted job because the ATS misread the content of the resume.1
Paul Smith, Executive Director of the Canadian Association of Career Educators and Employees (CACEE) stated the problem: “Today 10% of graduating students understand and have been trained to beat the ATS, 10% of graduates are learning how, and 80% of graduates aren’t aware of how the ATS works”. Employers today need to realize their current hiring practices may be eliminating close to 80% of graduating students who are full of potential and could be their next great hire, if given the chance (figure 1).
Employers need to begin looking past the resume and interview and begin looking for “the potential” in graduating students. Instead of using ATS’s with keyword searches, employers of new grads need to be looking for candidates who can execute in real life business / job relevant settings while understanding if the individual will fit into the culture, team and working environment. A traditional resume and interview process will not assist in understanding the candidate and assessing whether this specific job will be right for them.
Secondly, employers need to understand how the graduates think, how they engage with team members, and most importantly, how they conduct themselves in what might be their future role at the company. Graduates have learned to polish their interview skills and are great at selling themselves in an interview. The question that needs to be asked is simply “How will this graduate handle him/herself in a real life business setting?”
To meet the needs of employers who are hiring graduates, Hire Results Ltd has designed and created Grad Potential. Grad Potential’s hiring process is aimed at assisting employers in hiring the highest quality graduates.
Grad Potential’s unique candidate sifting process provides all candidates an equal opportunity to move to the next step of the hiring process. This is accomplished by moving past the resume of a candidate and looking deep into their make-up on Team Fit, Culture and Psychological makeup. Filtered and short listed candidates are moved to the second stage of our hiring process.
Engage with Candidates through Simulations
Our second step allows hiring teams to engage with the candidate through the Hiring Simulation Assessment process which allows teams and candidates to engage in real life business settings with a unique scoring process. The real potential of a graduating student is seen and experienced in this element of the hiring process.
Benefits of Grad Potential
- Graduates with great potential will not be overlooked
- See graduates in action – understand how they think, react, problem solve
- Risk management in making a costly bad hire
- Ensure the new hire is a fit for the role
- Lower turnover
Grad potential is a division of Hire Results Ltd (HRL). Over the past 12 years HRL has leveraged the use of their Hiring Simulation Assessment process to move past the interview and allow organizations to “test drive” a candidate. It is time for employers to shift their thinking regarding the “how” of hiring graduates. Grads need the opportunity to show that they have potential and what it takes to be successful on the job.
“I have seen firsthand graduates who are coming out of school that have great potential and unfortunately employers are missing out on them” – Kyle