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.

Outlines

00:00

😣 The Paradox of Job Scarcity Amidst Abundance

This paragraph discusses the baffling situation where despite a plethora of job openings, securing employment has become increasingly challenging. It highlights how the entry bar has been raised significantly, with even a good college degree no longer being a guarantee for a job. Companies now seek the top students and demand real-world experience for entry-level positions, which is often unattainable for fresh graduates. The script also touches on the dehumanizing effects of the internet on job seeking, where applicants are reduced to numbers and competition has skyrocketed due to the global reach of job postings.

05:01

🤖 The Rise of Applicant Tracking Systems (ATS) and Their Impact

The second paragraph delves into the prevalence and consequences of Applicant Tracking Systems (ATS) used by over 97% of Fortune 500 companies. These systems filter out applications based on set criteria, often leading to dehumanization and high rejection rates. The evolution of ATS from simple legal question filters to complex systems that can read and rank CVs based on keywords has made the hiring process more impersonal and numbers-driven. The potential integration of AI into ATS is also mentioned as a concerning development that could further reduce the human element in hiring.

10:02

👻 The Proliferation of Ghost Jobs and Their Wasted Impact on Job Seekers

This section exposes the issue of 'ghost jobs'—job listings that are either not genuine or are kept active for extended periods without any intention of hiring. It reveals that a significant number of job postings are either placeholders for internal candidates, a means to maintain appearances of growth, or a tactic to pressure existing employees. The paragraph criticizes job boards for perpetuating the illusion of job availability and benefiting from the listings, even if they are inactive, thus contributing to the frustration and wasted efforts of job seekers.

15:02

📊 The Shift to Questionnaires and Tests Over Traditional Interviews

The final paragraph criticizes the shift from traditional interviews to standardized questionnaires and tests, which often fail to assess a candidate's true skills and experience. It points out that companies like Walmart use these tests to filter out candidates based on their willingness to conform and jump through hoops, rather than their qualifications. The paragraph also suggests that these tests serve to remove human judgment from the hiring process, reinforcing the power of corporate management and further dehumanizing the job search experience.

Keywords

💡Job Openings

Job openings refer to the positions that are vacant and available for employment within a company or industry. In the context of the video, the script discusses the paradox of having millions of job openings while many people struggle to get hired, suggesting a disconnect between the demand for jobs and the hiring process.

💡Entry-Level Positions

Entry-level positions are jobs that typically require little to no prior experience and serve as an initial step into a career. The script mentions that companies are increasingly picky about even these positions, requiring unrealistic levels of experience or education for what should be basic roles.

💡College Degree

A college degree is an academic qualification awarded upon completing a course of study at a college or university. The video script points out that, despite over 70% of job listings requiring a bachelor's degree, only a bit over 30% of American adults actually possess one, indicating a potential mismatch between educational requirements and the available workforce.

💡Real World Experience

Real world experience refers to practical skills and knowledge gained outside of an academic setting, often through work or internships. The script criticizes the expectation of years of experience for entry-level jobs, which can be particularly challenging for recent graduates.

💡Internet Job Boards

Internet job boards are online platforms where employers post job vacancies and job seekers can search and apply for jobs. The video discusses how these platforms have changed the job application process, leading to a massive increase in competition and the rise of applicant tracking systems (ATS).

💡Applicant Tracking System (ATS)

An Applicant Tracking System is a software application used by employers to manage and sort through job applications. The script describes how ATS systems have become a dehumanizing part of the hiring process, often filtering out candidates based on specific keywords or criteria without considering the whole person.

💡Ghost Jobs

Ghost jobs are job listings that are posted but never actually lead to a hiring. The video script explains that companies may keep these listings up for various reasons, such as to appear as if they are growing or to potentially attract a 'perfect' candidate, wasting applicants' time and effort.

💡Recruitment Agencies

Recruitment agencies are organizations that assist job seekers in finding job openings and assist employers in finding suitable candidates. The script notes the growth of this industry, suggesting that it has adapted to and profited from the complexities and difficulties of the modern job market.

💡Aptitude Tests

Aptitude tests are assessments designed to measure a candidate's natural abilities and potential for success in a role. The video criticizes the use of such tests by companies like Walmart, suggesting they are more about conforming to corporate expectations than genuinely assessing skills or fit for the job.

💡Dehumanizing

Dehumanizing refers to the act of depriving individuals of their individuality and treating them as mere objects or numbers. The script argues that modern hiring practices, particularly the reliance on ATS and the use of aptitude tests, have dehumanized the job search process, reducing applicants to data points rather than considering them as unique individuals.

💡Corporate Management

Corporate management refers to the individuals or teams within a company that oversee and direct its operations. The video suggests that the shift towards automated systems and tests has centralized power within corporate management, often at the expense of personalized judgment and the genuine assessment of candidates.

Highlights

Despite millions of job openings, it's harder to get hired due to increased competition and higher entry barriers.

The traditional advice of asking a manager directly for a job is no longer effective in today's job market.

A good college degree used to guarantee a good job, but now it's just the minimum expectation for most positions.

Over 70% of jobs require a bachelor's degree, yet only 30% of American adults have one.

Real-world experience is now demanded even for entry-level positions, making it difficult for fresh graduates.

The rise of the internet has led to a massive increase in competition for jobs.

Job listings on websites can attract thousands of applicants, making it harder for individual applications to stand out.

Using personal phones for business can harm professional image and efficiency.

Nextiva is highlighted as a solution to consolidate business communication into one app, improving professionalism.

The job market has become dehumanizing, with applicants treated as data points on a spreadsheet.

Applicant Tracking Systems (ATS) are widely used to filter out candidates based on set criteria, often leading to dehumanization.

ATS can automatically reject candidates based on their CV's content and format, regardless of actual qualifications.

Ghost jobs are listings that are never intended to hire anyone, wasting applicants' time and effort.

Companies may keep ghost job listings for various reasons, such as to attract potential candidates or for appearances.

Job boards benefit from ghost jobs as they inflate the number of available positions, attracting more users.

Recruitment agencies have grown despite the internet, often solving problems created by the industry itself.

Interviews have been replaced by questionnaires and tests that may not accurately assess a candidate's fit for the job.

Tests are often used to filter out candidates based on their willingness to comply rather than their skills or experience.

The modern hiring process is criticized for being a numbers game that favors corporate management over applicants.

Despite the challenges, the reward for getting hired is often a job with a wage that hasn't significantly increased in decades.

Transcripts

despite the millions of job openings

that are apparently out there it's

harder than ever to get hired the news

is constantly telling us that companies

are desperate for workers and that

there's tons of jobs just waiting to be

filled meanwhile there's stories

everywhere of people sending out tens or

hundreds of applications without ever

getting a single interview it just

doesn't make sense so what really

happened a turn finding work into a

full-time job but a few decades ago even

when there were job shortages it was

still much easier to get a good job the

advice the Boomers give of putting on a

and asking the manager for a job really

worked all it took was enough tries

before you finally met someone who liked

you today you could try this thousands

of times and you probably still wouldn't

get a chance one difference that's easy

to notice is that the bar for entry has

gotten significantly higher for most

jobs before 2000 a good college degree

was almost a guarantee of a good job

companies would compete with each other

to get the most recent graduates they

were forced to offer a wage that could

support a family if they didn't they

wouldn't get any employees but now the

tables have completely turned and

they're only really interested in the

very top percent of students what used

to amount to a free entry ticket has

become the very minimum of what they

expect despite over 70% of listed jobs

requiring a bachelor's degree only a bit

over 30% of American adults actually

have one but you don't just need a good

degree of course you also need Real

World Experience even for so-called

entry-level positions companies are so

picky now that they're asking people who

have just left College to have years

worth of experience or for a salary they

can barely survive on the only way to

get this is to work while studying

fulltime time which is rarely possible

if you need to do an internship for the

field you plan on entering the past

always looks better in hindsight of

course there were still job shortages

and people still got rejected but the

key difference between then and now is

the massive rise in competition because

of the internet if you were a company in

the 1980s looking to hire a few new

employees you didn't really have many

options small companies could only

recruit through inperson events word of

mouth or physical leaflets posted to

boards it was a slow long process with

only a few applicants to choose from

hiring managers had to treat each

applicant like a real person using their

own judgment to figure out who would be

the best fit large companies only had a

few more tools at their disposal with

their size they could get a foot on the

door at colleges or high schools and

Hoover up applications that way but even

then they were still much more limited

so just think about how much this

process has changed in such a short time

if any company wants a new employee all

they need to do is put a listing out on

one of the many websites for That

explicit purpose and this will almost

immediately be seen by thousands and

thousands of people along with a whole

way of different recruiters who will

spread it even more without any barriers

to applying like showing up in person

these jobs can get thousands of

applicants there's no reason not to try

your luck so why not send off 50

applications as it's gotten harder and

people need to send even more

applications to get a chance it's only

gotten

worse if you're using your personal

phone number to close business deals

you're not just mixing work and play but

you're sabotaging your chances of

success recently I've been doing a bunch

of traveling and I've been trying to

operate my business through just my

personal f phone it was a terrible idea

you can't really communicate with people

properly you're trying to manage all

these different sections of your

business with multiple different apps

you lose track of everything it's just

an absolute nightmare especially when

other people notice this and don't take

you as seriously because you're just

working from your phone not only can

this look amateur but you and your team

are probably using 18 different apps to

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your plan it's exactly the same thing

that's happened to dating modern

technology has globalized the potential

pool of competition finding a job or

partner used to be so much more personal

it all hinged on the impression you gave

to the person across from you now it's a

total numbers game how you feel out your

application form or your Tinder profile

has much more of an impact than pretty

much anything else and as a result the

standards have also gone up by ludicrous

amounts on both job sides and dating

sides it makes people in companies think

they have far higher standards because

they have so much more choice the

reality on the ground though hasn't

really changed and the effects this has

had on the job market have been

catastrophic it's led to the whole

process getting much more dehumanizing

for applicants who have been turned into

numbers on a spreadsheet so those are

the biggest reasons why finding a job

used to be much easier than it is today

but the real devil is in the details

even with all of these changes finding

work really shouldn't take hours of

searching in hundreds of applications

the reason it's all so frustrating are

the things that companies have done to

deal with this new reality so let's

explore the different ways they found to

make getting hired even harder today the

problem for companies have been

completely reversed instead of not

getting good enough applications to

choose from they get hundreds or

thousands more than they need every time

they need to hire someone new it means

reading through hundreds of applications

and filtering out all the ones that

aren't suited in a perfect world

companies would put more time and effort

into this but we all know that hasn't

really happened instead they've turned

to one of the most frustrating and

dehumanizing parts of the modern job

market automatic rejection systems today

over 97% of fore 500 companies use

what's refer ref to is an ATS an

applicant tracking system the basic idea

is simple an ATS works like a Civ

filtering out any applications that

don't mean whatever requirements the

employer has set when they first came

into widespread use in the early 2000s

with the rise of the internet they could

only deal with a few basic questions if

someone ticks the book saying they're

not legally allowed to work for example

they'd get rejected today ATS companies

advertise their services to the public

like this is still the only thing they

do companies like Greenhouse lever

workday have to admit their products

automatically reject people it's far too

obvious for them to deny it but they try

to give the impression that it's only a

few legal questions that do this of

course this isn't the case at all

rejection questions by giving the wrong

answer P your CV in the reject pile are

everywhere today in fact there are only

the first herdle an applicant needs to

get P to beat the machine as the

internet becomes the main place to

search for jobs ATS companies had to

adapt they needed to keep up with the

increasing amount of applications so

they added more rejection questions

instead of filtering out the people you

legally can't hire they started giving

companies the option to reject people

based on whatever legal criteria they

wanted your address your experience any

question they ask can make the

difference between getting an interview

or getting ghosted normally they don't

outright reject CVS of course they just

rank them more based on the criteria

they're using technically all an ATS

really does is turn tons of applications

into a rank list of candidates if you

end up on the bottom of the pile though

or anywhere near except the very top

you'll never get looked at anyway and

ATS probably won't automat asically

reject you it will just put you so far

back in the queue that you might as well

not even be there but even this approach

still left too many applications for

companies to look through to fix it they

made the ATS able to read the CV itself

today these systems can go through

applications and pick out certain key

words they want to see if you didn't use

those certain words they wanted you'll

end up at the back of the queue and

eventually get rejected they can also

read how much experience you have in

certain areas making notes of everyone

who doesn't make the cut even today

these systems are far from perfect if

you don't have the same key wordss they

use in the job posting then your CV can

often end up on the bottom of the P

regardless of whether you're qualified

or not similar problems can come from

how you format your CV some templates

don't get read as well by the system

meaning they miss out important parts

and unfairly reject people there are

ways to avoid this like making sure you

use the same words they use in the

advert or using a standard template that

the system will be designed to read at

the end of the day though it's not

something that people should have to do

rewriting your entire CV every time is

part of what makes finding a job in the

mod world so Soul crushing especially

when you just get ghosted over and over

again pretty much every single company

in the west uses these systems now but

even with almost 100% adoption the

situation could still get worse AI is

perfectly suited for use in an ATS it's

already widespread and it makes these

programs far better at understanding

people's CVS and filtering people out so

companies will be eager to cut out just

a little bit more of the human element

from finding new employees as they might

just save a little bit extra on

Personnel costs this is the Croc of the

problem with ATS and how they've taken

over the entire process finding a job

used to be a human experience where you

were in at least limited control of the

situation obviously you can make it a

certainty that you get hired but you at

least got a chance to make a unique

impression on whoever did decide by

turning all of the applicants into a set

of data companies dehumanize the entire

thing so out of the thousands of

applicants that usually are for each

good job you have to stand out in spite

of a system intentionally turning you

into a data point on a spreadsheet but

even this incredibly infuriating role of

the DI PR is still the best outcome you

can have when applying to one of these

jobs people talk about the Thousand to

one odds of getting a job once it's

posted and they might think they're over

exaggerating in reality though the odds

are even worse a large part of the

rejections people get are because the

jobs they're applying to don't actually

exist it's a problem that's only been

getting worse the ratio of people

getting higher to job openings in the US

actually fell below .5 in 2023 which

means at least half of all job openings

are for so-called ghost jobs which are

never going to get anyone hired in the

first place so let's explore the

Insidious reason companies keep these

listings up and why so many people's his

time is wasted by them ghost jobs are

everywhere on sites like indeed you can

apply to a job listing and wait

anxiously for a response but after weeks

or months you either get rejected or you

don't hear back at all in a lot of these

cases it probably has nothing to do with

you or your CV instead it was all

probably because the company wasn't

planning on hiring anyone anyway in a

survey of over 1,000 hiring managers

over 2/3 admitted to leaving their short

postings up for a month 10% had left

listings on the internet for over 6

months without filling the role there's

a ton of different reasons that

companies do this today none of which

are a good excuse for the time they

waste sometimes people already know

who's actually going to get the job some

executive Su might need something to do

or maybe they've already decided on an

internal candidate maybe they're just

going to dump the workload on one of

their current employees but need to make

it look like they tried to find someone

else it barely takes them any time or

resources a tool to drop some templated

job listing online and the longer they

leave it up the higher the chance that

they'll hook that magical unicorn

employee that they've been looking for

the person is qualified and experienced

but will probably work for under market

rate and won't ask for any benefits

other times these listings will just be

there for appearances it looks good for

the company if they're growing and

hiring new people for example they might

also think that the current employees

will wonder who's getting replaced and

work harder to avoid it there's a

million sleazy reasons for companies to

create fake listings the job sites will

be happy to take their business and

that's another reason it's such a

massive problem today the job boards

actively won dead listings fake listings

SPO their numbers and let them brag

about the thousands of jobs they have

available given this illusion of Plenty

even when there's only scraps on the

table these websites aren't there to

cater to job Seekers they only need to

do the bare minimum to stay functional

if you're not paying for it then you're

the product not the customer job Seekers

on these sites don't have any Agency for

most it's a choice between using them or

going hungry the real customers are the

companies who post the adverts and pay

for the extras if they want to post dead

listings why would indeed or any other

job board stop them all of these things

have made finding a job that much harder

today it's an excruciating trial of

patients unless you get unusually lucky

early on in your search of course if

there is a problem even when that's been

entirely fabricated an industry will

spring up to solve it middlemen and

recruitment agencies used to be

necessary parts of the professional

world if you couldn't get your job seen

by the right people they could bridge

the gap and find good candidates for the

opening you would think that this

instant communication and the ability to

have your job opening seen by thousands

of people in seconds would have damaged

this industry but instead the

recruitment industry has grown massively

in the past few decades in the UK the

recruitment industry grew to be worth

over 140 billion at the end of 2022 20

billion more than just 3 years before

that 30,000 recruitment companies now

employ over 200,000 people for a

considerable sum they'll eventually find

you a job if they don't just string you

along for more payments even in the best

of cases all these agencies do is

reverse the changes of the past 20 years

and give you a real shot at a job

opening most of the time though they're

only really solving a problem that the

wider industry created for people in the

first place it's a whole lot of money

which only keeps flowing in because of

how hard it is for regular people to do

it themselves now so maybe you got lucky

with automated systems or perhaps you

went through the hassle of dealing with

recruiters but either way you've somehow

got yourself an interview except even

that crucial stage of the process has

been changed beyond recognition while

there may be a short often meaningless

interview to was the end of the process

tons of companies have substituted that

for questionnaires and tests instead

while the questions might vary most of

these kinds of tests are pretty similar

some of them might ask you about what

you would do in an imaginary situation

supposedly to test your critical

thinking others ask the kinds of

questions where you can either lie and

give the obviously correct answer or be

honest and get marked down all of them

though are a complete waste of time it

hasn't stopped anyone from Microsoft to

Walmart all of these companies using

them to S through potential employees in

fact in fact big retail chains are some

of the most infamous companies for just

giving people these tests instead of

ever actually interviewing them why they

need to know your star sign to see if

you can stack shelves fast enough is

another matter entirely but the reason

Walmart is the most enthusiastic about

these tests above all other companies

will become clear soon enough these

tests don't come close to giving

employers information on the skills and

experience and candidates might have

either most people rationally just try

to figure out what answers they want you

to pick the integral question of whether

you'd be a good fit on which the entire

process should depend on has almost been

completely forgotten today even

references are nearly always just a

confirmation that you worked at a

company for a certain amount of time any

information on whether you were actually

a good employee can't be given anymore

because you can sue people who give you

bad references it means that companies

just don't make themselves liable so if

they don't actually measure your

aptitude what's the point of all these

aptitude tests a lot of the time the

actual content of the questions doesn't

matter the main thing they're testing

people on is how eager they are to jump

through the Hoops in the first place if

you can see through the corporate

language and spend the time figuring out

what they want you to say you're already

conforming it's also why there are often

multiple different tests at different

stages in the hiring process the more of

their Hoops you'll jump through the more

likely you are to be a good corporate

drone Walmart's tests have the same

purpose as the humiliating dances they

make their employees do they break

people down just a little bit more

another reason for these tests has

nothing to do with the candidates at all

instead they're in place because the

upper management has no faith in the

people further down the pyramid to

choose good employees once companies

start hiring by questionnaire they can

take Metal Management out of the loop

entirely it means they can put even more

of their faith and trust into data and

spreadsheets over real human judgment

with all of the changes we've seen in

hiring in the past two decades a common

theme has emerged all of these changes

take the power out of the hands of the

applicant and put them into the hands of

corporate management the process of

getting your applications noticed is an

exhausting numbers game either getting

lucky or sending off dozens or hundreds

of of applications is the only way

people can actually survive I looked at

the data if you just applied to a job

through a job board the odds of you

getting hired were about 3% so you got

to apply a lot of different jobs in

order to have a chance to get them and

you're going to get lots and lots of

just no responses even if you do get

through the first stage employers will

happily waste months of your time

they'll put you through endless

different stages of interviews tests and

trial periods or to just ghost you after

they choose somebody else it's a truly

dystopian part of our modern society

that all of these barriers have been put

in the way of people simply surviving

and the reward at the end of this uous

journey is just usually a job that pays

the same wage as it did 20 years ago

before all of this even happened in

today's economic climate it's a question

of survival every paycheck can make or

break someone's entire life these

artificial delays have done serious

damage to society and eroded what little

trust there was between employes and

employees so you can play nice to try

and dupe the system but never really buy

into any of the restur about family or

trust don't fo yourself into thinking

these companies actually care about you

or an equal system or any other garbage

it's a myth that everybody's hiring as

it's been shown repeatedly that there's

much more to this equation that first

meets the eye