In the current world, websites like LinkedIn have become a great platform for people to seek out new job opportunities. Same for organisations.
Given the current COVID-19 crisis, almost daily I come across 2 or 3 posts of people seeking to find a job as their company let them go, due to the economic situation.
Such posts are very popular. The power of social media is really unravelled in these times with a clear case multiple strangers coming to rescue to the person who starts the post. This help is extended either in case of connecting for an opportunity or by simply commenting so that more and more see in their personal feeds and the post goes viral.
I am sure many prospective candidates or affected people may have found their job of choice or compulsion with this. Great effort indeed!
But this also brings out the fact that many people (and companies) may be little hasty in making the job decision.
Given that hiring is an expensive process, HR leaders and hiring managers have often struggled with the possibility of the candidate leaving the job in a few months or years from joining.
Problems become more complex with the fact that the current breed of young workers rate company loyalty relatively lower in their ranking of traits of a dream job. A better brand, a better culture or better compensation can sway them to the other side of the door.
Another study found that in some sectors, the average stay in the company is reducing rapidly due to the high attrition.
People who move from one job to the other very often are popularly known as ‘Job Hoppers’.
One study says that in 2018, the turnover cost was $680 Billion in the US economy. Here is the link to the study.
As a phenomenon, job-hopping has been an area of significant interest for both industry and academia.
Now a new study may have found the solution to this problem with the help of Artificial Intelligence techniques.
The study titled ‘Predicting job-hopping likelihood using answers to open-ended interview questions’ scanned through over 45,000+ interview responses to correlate them with personality types using multiple AI techniques to lead to conclusion.
The correlation models used for assessment of the personality types derived from the interview responses with the propensity of job-hopping are below –
The conclusion of the study is –
The full study with details of the future work prospects in the area can be found here.
Amitesh Tyagi, Grow Daily, 25/07/2020
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