It’s never a good time to be looking for a job. But if you are in that unenviable position, the good news is that, in today’s labor market, the chances of you landing a good job – one you like and can excel in – have never been better.
The Current Job Market in the US
According to the U.S. Chamber of Commerce, in 2022 and 2023, millions of workers have left their jobs, and companies across all sectors of activity are struggling to fill the many open positions they have. With an estimated 3.5 million workers missing from the US labor force, in some regions of the United States – and in some industries – the amount of job offers exceeds the number of job seekers by a 2-to-1 margin.
Because of the difficulty companies are having finding employees to fill their open positions, we have seen an increase in the compensation offered and a decrease in qualifications and requirements demanded. This is true for traditional job offers as well as the pay and qualifications required for a successful remote job.
Additionally, companies in all industries are beginning to take notice of the changing expectations employees have in regard to their employment. This means that more and more businesses are adapting to the hybrid working model; they are making a concerted effort to respect their employees’ work-life balance, and they are placing additional emphasis on employee culture and candidate experience.
In addition to the high number of job offers – in relation to the relatively low number of job seekers – thanks to advancements in digital technology, there are now more online platforms than ever before where you can visit and find job offers in your field of interest.
Not all job portals are created equal, though. And in this short article, we’ll take a closer look at Lensa and examine just how they are revolutionizing the job search.
What Lensa Does Differently
Lensa is focused exclusively on the US job market. Lensa is an online AI-powered job search platform that seeks to use a combination of the latest technological advancements, in collaboration with dedicated industry experts, to match job seekers with job opportunities that fit their specific sets of skills and priorities.
In this respect – using AI and machine learning to improve the recruitment process – Lensa is not a unicorn among other job search portals. However, their conviction that technology can empower job seekers and help them make more informed, data-driven decisions, along with their guiding principles, make Lensa stand out from the crowd.
Lensa’s AI-powered job search engine combs through millions of resumes and job offers. From this collection of data, it is able to identify patterns, commonalities, and outliners and even make predictions about the future viability of jobs and their respective industries.
Lensa is completely free to use for job seekers. And employers and recruiters only pay when a successful match is made. There are no duplicate offers or unrealistic matches that you may find on some portals that charge employers per click.
At Lensa, it’s not about clicks; it’s about connections.
Benefits of AI and Machine Learning in the Recruitment Process
AI job matches are an incredible time-saver – for both the employer and the job seeker alike. The machine learning algorithms filter applications according to predetermined criteria. This relieves HR managers of a lot of repetitive tasks and gives them more time to focus on more personable and innovative recruitment strategies.
When job seekers are matched with jobs they are qualified for, likely to land, and likely to excel in, this goes a long way toward curbing the inevitable frustration and potential despair that can often be associated with traditional job searches. Better matches mean a higher chance of success. This means that job seekers can enter into their job search with confidence and even excitement at the prospects they are sure to land.
Additionally, AI search engines are free of conscious and unconscious bias. These biases are inevitable in humans. And unfortunately, they contribute to the perpetuation of unfair hiring practices, such as certain groups of people (either because of their race, gender, or background) being excluded from opportunities they would otherwise excel in. Hiring bias means that companies lose out on potential quality employees, and many qualified people are prevented from expressing their talents and growing professionally.
As more and more job portals, HR managers, and recruiters implement AI in the recruitment process, we will continue to see a reduction in hiring bias. This will help increase the amount of diversity we see in the workplace. And everyone benefits from more diversity and inclusion.