May has been rough on the US tech scene, as companies start to freeze hiring and lay off employees. From a broader perspective, the tech crash is only the latest iteration of the economic roller coaster that seems to have started with the phenomenon known as the Great Resignation before and during the COVID-19 outbreak, followed by a hiring boom that followed suit as companies tried to shake off the pandemic.
These trends point to the underlying issue that employer confidence in finding the right fit for the role and retaining employees continues its downward trend from previous years, Monster’s global Future of Work report shows.
That lack of confidence largely stems from an outdated hiring method that relies too heavily on resumes, which fails to take into account things like workplace culture and compatibility with management—and also lends itself to bias on the part of the recruiter and interviewer. There’s no sense in hiring a superstar developer who will quit after three months because she can’t stand the management style or requires flexibility the hiring company doesn’t offer.
From the candidates’ side, a quick look at LinkedIn job offers would tell you that to find a new job is not an easy feat, as job requirements not only seem a little unrealistic, but their descriptions are often the same with little information on what the day-to-day looks like, what the work environment is like. Candidates feel that their CVs do not reflect the many skills that might give them an edge over their competitors, aside from education and previous employment.
That’s where Israel-based Unboxable steps in, injecting a much-needed technological update to the hiring market and empowering companies to take a more holistic approach to recruiting. Led by Yardenne Assa and Stephie Knopel, Unboxable’s platform uses artificial intelligence to match companies—at 93% accuracy—with qualified talent that is compatible with the team and stays on board for the long term, according to data collected from implementation of Unboxable in the Israeli tech space.
In only five minutes, hiring managers can build a contextual and code-less AI-based job simulator that describes the position more effectively than the generic descriptions used today. The platform produces an extensive report on the candidate’s compatibility with the job and work environment, as well as where they really shine. The report also covers key aspects the company should promote to bring the best out of its employees.
Just recently in response to the tech crash, Unboxable added a new layer to its product, aimed at supporting companies during times of recession. The new feature assesses candidates’ ability to perform in light of swift changes, and suggests steps to take with them during times of uncertainty.
For candidates, Unboxable found that most prefer to go through a longer process of assessment with a hiring company rather than just sending their CV, as they feel the resume alone doesn’t come even close to representing them wholly.
While candidates go through the simulation, they can surface their true abilities and personality. The CVs are shown with the candidates’ answers, as the platform’s AI creates the report tailored specifically for the role at hand and the company at large.