If Everyone Is Hiring, Why Can Nobody Get A Job?

Summary

The video script delves into the paradox of job scarcity amidst millions of openings, highlighting the increased barriers to employment. It discusses the rise of applicant tracking systems (ATS) that dehumanize the hiring process, the prevalence of 'ghost jobs' that never lead to hiring, and the role of recruitment agencies that exploit the job market's complexities. The script criticizes the shift towards questionnaires and tests over interviews, suggesting these methods test compliance rather than capability, and underscores how these changes disadvantage job seekers, creating a frustrating and often futile search for employment.

Takeaways

• 📈 The job market has become more competitive with the rise of the internet, leading to a higher entry bar for jobs and less personal interaction in the hiring process.
• 🎓 A college degree, once a guarantee for a good job, is now just the minimum requirement, with companies focusing on the top percent of students and demanding real-world experience even for entry-level positions.
• 💼 The expectation for new graduates to have years of experience is unrealistic, often necessitating full-time work while studying, which is rarely feasible.
• 🌐 The internet has globalized the job market, increasing competition and leading to a numbers game where applications are treated as data points rather than individual candidates.
• 🤖 Applicant Tracking Systems (ATS) are widely used to filter out candidates based on set criteria, often leading to dehumanization and a lack of personal touch in the hiring process.
• 🔍 ATS can automatically reject or rank candidates based on keywords and experience, sometimes disregarding actual qualifications if the 'right' words aren't used in a resume.
• 👻 The prevalence of 'ghost jobs'—job listings that don't lead to hires—wastes applicants' time and creates a false impression of job availability.
• 📊 Companies use tests and questionnaires instead of interviews to screen candidates, often focusing on compliance and the ability to jump through hoops rather than actual skills or fit for the role.
• 📉 The power in the hiring process has shifted from applicants to corporate management, with processes designed to filter out as many candidates as possible early on.
• 💬 The trust between employers and employees has eroded due to the impersonal and often misleading nature of modern hiring practices.
• 🏢 Despite the challenges, the reward for navigating the complex hiring process is often a job with a wage that hasn't significantly increased in decades.

Q & A

Why is it harder to get hired despite the high number of job openings?

The script suggests that the job market has become more competitive due to the internet, higher entry requirements, and the prevalence of applicant tracking systems (ATS) that filter out a large number of applicants.

What was the traditional advice given by the Boomers for securing a job, and why does it no longer work?

The traditional advice was to put on a suit and ask the manager directly for a job. This approach no longer works because the job market has become more impersonal and competitive, with companies using ATS to filter candidates.

What role do college degrees play in the current job market?

A college degree, once considered a guarantee for a good job, has now become the minimum requirement for most jobs. However, despite this, only a bit over 30% of American adults have a bachelor's degree.

Why do companies now require 'Real World Experience' even for entry-level positions?

Companies are being more selective, expecting candidates to have years of experience even for entry-level positions, likely due to the large applicant pool they can draw from and the desire to minimize training costs.

How has the internet changed the process of hiring?

The internet has increased competition by allowing companies to post job listings that can be seen by thousands of applicants instantly, leading to a massive increase in the number of applications received.

What is the impact of using personal phones for business on the success of business deals?

Using personal phones for business can lead to poor communication, difficulty in managing different aspects of the business, and a lack of seriousness from others, which can sabotage the chances of success.

What is an ATS and how does it affect the job application process?

An Applicant Tracking System (ATS) is a software used by employers to filter out applications based on set criteria. It can dehumanize the process by turning applicants into data points and may lead to qualified candidates being overlooked.

Why do companies leave job postings up even when they do not intend to hire?

Companies may leave job postings up for various reasons, such as to appear as if they are growing, to maintain appearances, or to hope to attract a 'unicorn' candidate who is highly qualified and willing to work for less.

What is the concept of 'ghost jobs' and how does it affect job seekers?

Ghost jobs are job listings that are never intended to be filled. They waste job seekers' time and can lead to frustration as applicants may never receive a response or rejection.

How have recruitment agencies adapted to the modern job market?

Recruitment agencies have grown in the modern job market, often acting as middlemen to bridge the gap between job seekers and companies. However, they may also contribute to the problem by charging fees and not always providing effective matches.

What is the purpose of aptitude tests in the hiring process, and do they effectively measure a candidate's fit for a role?

Aptitude tests are often used to filter candidates and assess their suitability for a role. However, they may not effectively measure a candidate's skills and experience, and can sometimes be more about compliance and eagerness to complete the process.