Resumes: Archaic and Inaccurate

Resumes: A Tool of the Past
For centuries, a resume has been the primary way of communicating an individual’s qualifications and accomplishments. It’s so ingrained into our way of defining “work” that we rarely stop to question how a brisk, one-page summary can provide a robust picture of a person’s unique skills, capabilities, and potential. 

Today’s business environment is changing in ways beyond recognition, yet we continue to organize work around “past experiences.” For a long time, resumes helped recruiters quickly assess whether or not a candidate had enough “prior knowledge” to be a productive and efficient employee. During the Industrial Era, being familiar with the equipment meant a greater chance of getting hired, which in turn helped the firm increase consistency in the quality of products produced, and—most importantly—increase its profits. 

However, in a time when embracing human connections is ranking higher on the C-suite’s list of strategic business priorities, selecting a candidate based on past experiences does not necessarily provide an accurate picture of their growth potential. Our economies are no longer industrial, but mainly knowledge-based—and this should be reflected in how organizations hire and retain employees. 

As AI and competency science replace the use of resumes and job descriptions, organizations will begin hiring on the basis of transferable skills and competencies that can’t be restricted to a single-page summary. Organizations are already focusing their attention to increasing key business outcomes by hiring individuals that exhibit the capacity to learn, grow, and adapt. 

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The Truth About Resumes and Job Descriptions
Resumes rarely provide a robust picture of an individual’s true competencies: They fail to highlight someone’s abilities and talents beyond what’s on paper. Given that nearly 70% of competencies are shared across industries, it’s critical for organizations to buy into a competency-based approach that will drive the most value. That’s where platforms like Claira come in: creating direct value by mapping out a firm’s human capital—but digitally.

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The Future is Digital: Machine Learning, Talent Acquisition, and Inclusion

Machine Learning:
The landscape of recruiting is currently being shaped by a candidate's potential, not just their resume or past experiences. While employee referrals will remain a key part of the talent acquisition process, AI will become an integral part of human capital optimization—and Claira is uniquely positioned to help executives ensure that the quality of the hires and sourcing channels are effective. Leveraging machine learning and natural language processing to provide executives with key insights, Claira identifies gaps within a firm’s internal talent marketplace by capturing the abilities of every employee and compares their talents to the business’s needs. 

‍Talent Acquisition:
Recruiting from your organization’s internal marketplace has valuable returns on bolstering employee retention—according to Linkedin’s VP of Talent Solutions, Mark Lobosco, companies that have high internal mobility find that “employees stay almost two times longer than those who don't, and employees who found new roles internally are three and a half times more likely to be engaged than those who haven't.” By integrating competency science into human capital management, organizations can identify key workforce development opportunities for their employees and better articulate upskilling programs.

Inclusion:
Despite conscious efforts by companies to remove hiring bias from the hiring process, our research shows that individuals who have a non-white sounding last name are 50% less likely to get a callback compared to their white colleagues. Claira’s unique machine learning platform helps executives ensure “intelligent inclusivity,” sourcing great talent from diverse backgrounds by reducing human biases. For organizations to sustain a competitive advantage within their respective industry, it’s imperative that executives attract, hire, develop, and support diverse professionals by getting a broader picture of the skills and potential each employee has. The benefits of investing in diversity can lead to a more inclusive way of working, unlocking innovation that drives market growth. Intensifying efforts to ensure that DEI becomes implicit and naturally embedded into organizational practices, talent acquisition, and client strategies can only improve employee engagement and business performance. 

As resumes become more obsolete, recruiters will have to shift their attention from trying to fill competency gaps with new people to optimizing the full potential of their people within an organization. Machine learning has the power to improve current talent acquisition processes, drive employee engagement, and create a talent pipeline that is diverse and inclusive. The future of work demands that jobs become more cross-functional and skill-based—and Claira has the tools to optimally match human capital to your organizational goals.