MELBOURNE, AUSTRALIA – March 28, 2007 –
People management solutions company, PageUp, predicts that by 2010 corporates will be recycling their pre-screened candidate database intelligence and sharing it with their industry peers.
Paper resumes will be a thing of the past.
People will be moving jobs through networks and with them will follow artificial intelligence about them which will be automatically updated and found in an inter-industry password controlled central system.
PageUp chief executive, Karen Cariss says large corporations are struggling to find quality talent and will have no choice but to act laterally to find it.
Tapping into networks to find or be recommended jobs is not a new concept, but talking about it openly will be, and will have to be, if companies want to remain competitive.
With employees shortening tenure, people will move to other opportunities, so better to facilitate this with companies that can provide reciprocal talent in return.
Talent pool inter-industry sharing will be the future of recruitment, particularly in talent scarce industries such as IT and banking and finance.
Cariss also explains that the beauty of talent sharing is that top companies have been building independent talent databases for more than 2-years now, so the hard work of building the databases has already begun.
This means people have already been classified into their areas of specialisations, pre-screened through psychometric tests and in some cases already background checked.
Costs to a company to check the potential of a candidate have been greatly minimised and the time to fill a position has been reduced. As the candidate stands in a talent pool database, they are ready to be hired in less than 24hours.
Last year PageUp released a white paper on Talent Pools in Australia, which found that 47 per cent of the top 100 Australian companies
had invested in recruitment management software to start building their talent pools. Current research by PageUp People reports that this figure has increased slightly to 54 per cent.
According to Cariss, Australia has regularly been the catalyst for new initiatives in business, and talent management is no exception.
Page Up people has helped companies like CBA, Macquarie Bank and Coles Group lead the charge in talent pool management. Clients have even won industry awards for these initiatives.