Your skills + experience = your ‘Employment Capital Score’
We’re making recruitment and job hunting a whole lot easier, and better. By ranking peoples’ scores against the
Magnetics Employment Capital Index recruiters and employers can accurately measure the potential suitability of each candidate.
While on the face of it, the Magnetics platform is a decentralised blockchain hybrid, and are creating social recruitment platform– where skills and opportunities click, beneath that it’s a massive time saver. Saving time for those recruiting, saving time for those job hunting.
A recent study, commissioned by 8×8, provider of the world’s first Communications Cloud, surveyed 500 recruitment consultants in the UK, to uncover which working practices are wasting time and budgets within the industry. The results are somewhat shocking – revealing that the recruitment industry wastes more than 25% of the working week on inefficient practices. Recruiters say the biggest drain on resources is manually updating CRM systems, with consultants spending an average of four hours per week inputting information, because there’s no ability to integrate with phone systems. The research also reveals the flexible working revolution has been slow to reach the recruitment industry – 63% are worried about working away from the office in case they miss vital calls. Yet, if they could pick up calls to their office phone anywhere, from their mobile or laptop, an overwhelming majority (96%) would feel more comfortable working remotely.
Furthermore, while two fifths of recruiters are already using video conferencing to communicate with clients and candidates, recruiters still waste the equivalent of five hours every week visiting candidates who aren’t ‘up to scratch’. That’s why a further 40% would like to use video conferencing to screen candidates quickly, increasing productivity.
Technology is already improving consultant productivity in some areas. Six in ten already listen in to successful or unsuccessful calls to establish best practice and a third (34%) would like the ability to do so in future. In addition, almost half (49%) of the recruiters surveyed are already using messaging apps to communicate with clients and candidates and a further 36% would like to do so.
“While many recruiters are already using technology to increase productivity and improve the experience for both clients and candidates, a significant number have yet to take full advantage”, said Kevin Scott-Cowell, UK MD 8×8.
Adam Kilshaw, CEO and Co-Founder of Magnetics commented, “The recruitment industry is long overdue for disruption. It is currently a laborious process for employers, recruiters, and candidates alike. Leveraging Blockchain technology, Magnetics will radically improve and expedite the process for all involved. Saving time, saving energy, and ultimately saving money”.
How scared are the world’s workers about automation?
Workers in many countries think that automation will lead to ‘significant’ job losses and are doubtful about the technology’s impact on efficiency and output, according to a survey just released by the Pew Research Centre.
Coming in at the top of the chart is Greece, with 91% of the population believing that automation will ‘definitely’ or ‘probably’ replace many jobs currently done by humans in the next 50 years. Japan (89%) and Canada (84%) follow closely behind, although most of those respondents thought that it was ‘probably’ likely. After Greece (52%), the ‘definitely’ countries were South Africa (45%) and Argentina (40%).
As we know, in many countries the transformation of the workplace has already begun. Let’s take South Korea as an example, there are more than 600 installed industrial robots for every 10,000 workers in manufacturing facilities. A short distance away in Japan there are more than 300 and in the United States, nearly 200. The impact automation can have on the workforce is obvious when it comes to profit maximisation and labour outlay resources.
The average hourly cost of a manufacturing worker is $49 in Germany and $36 in the U.S. The hourly running cost of a robot is $4. How far will the use of computers and artificial intelligence spread? The Organisation for Economic Cooperation and Development (OECD) estimates that 14% of jobs in advanced economies could become automated away completely and another 32% substantially changed, affecting the lives of millions of workers in the near future.
“That’s why the Magnetics platform is so important” says Magnetics founder Adam Kilshaw. “We know that millions of jobs are at risk of automation, but workers lack the support to re-enforce their value-add to industry. That’s why the Magnetics jobs platform not only provides quantified information regarding automation, but how workers can safeguard themselves against it. All within a social recruitment and HR platform.”