The Future of Talent Acquisition is in Disruptive Innovation

Innovative technologies like electric vehicles and electronic payment systems are invading our daily lives, so it’s no surprise that this unstoppable tech juggernaut is driving a paradigm change in the recruitment industry. How should recruiters respond?  Emil Chan, fintech influencer and eBusiness evangelist, says that this “New Age” of recruitment must be open to disruptive innovation to ready itself for a shake-up of seismic proportions.

Self-Disruption Means Getting Ahead

Blessed with 20 years of banking experience, Chan started out as a programmer and worked his way up to CEO. Although he found success as a businessman, Chan says he aspired to be a photographer while at college.  “I think my IT background, banking experience, and keen interest in photography work well together. They allow me to approach problems from many different angles. Technology, management and culture are the mainstays of my problem-solving skills,” Chan says.

When the German bank BayernLB, Chan’s former employer, closed its Hong Kong branch during the 2008 financial crisis, Chan saw an opportunity to reboot his career. “I decided to found my own start-up, and I also began to perform professional start-up consulting. At that time, I didn’t know that a wave of start-ups would sweep the world. It was a turning pointing in my career, as it turned me into something of a multi-specialist in start-up consulting and fintech innovation,” says Chan.

Chan cited the Industrial Revolution of the 17th and 18th centuries in England as an example of disruptive innovation. “The Industrial Revolution was the catalyst which changed craft-based production to machine-based production. It also brought about mass production. Today, innovative technologies are on the verge of transforming and redefining every line of work in a similar way. Our established work practices and procedures will inevitably be rewritten. This is happening in the financial sector now. It’s only a matter of time before e-banking takes over the services which are still mainly carried out in actual bank branches.”

Disruptive innovations resulting from the technology explosion are posing potential challenges to every line of work. “Companies always want to get ahead, but to do that, they must take self-disruptive action right now. Innovations are appearing every day, and if companies are passive, and are only interested in guarding their own turf, they will be blown away by this whirlwind of technology. Conversely, if they are brave enough to disrupt their own business, they may become a trendsetter,” says Chan.

“Rewards-oriented” Recruitment Service

Chan believes disruptive changes are bound to happen in the area of traditional paid advertising for recruitment, too.  “The whole recruitment business is undergoing a disruption now. With the help of new technologies, companies lean towards contract-based employment instead of permanent employment. Short-term partnerships are more appealing, as they are inherently flexible and allow companies to offer better pay for the right talents. That means a new kind of talent acquisition service which emphasises flexibility and accuracy is required,” Chan says.

“The change of recruiting strategies has not brought about cuts in recruitment budgets,” Chan continues. “In fact, companies are willing to invest more resources to speed up talent acquisition, as they want the right people, and they want them immediately. The New Age recruitment platform should offer free job advertising to employers, and not ask them to foot the bill until the point in the process that potential hires are asked to submit their full CVs. This ‘reward-oriented’ type of recruitment service marks a major response to the new market trend. It fulfils genuine recruitment needs, and it also serves to enhance the accuracy and efficiency of acquisition efforts in recruitment drives,” says Chan.

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cpjobs Token is Disruptive and Innovative

Emil Chan, an eBusiness evangelist and fintech expert, says that if you want to get ahead in business, self-disruption is the first step. That approach even applies to finding the right talent for your company. That’s where cpjobs.com comes in. Existing online recruitment services are money-guzzling dinosaurs, but cpjobs.com, a front-runner in the race for disruptive innovation, has scrapped traditional methods to launch the revolutionary “cpjobs Token”. This perfectly meets the needs of the ‘New Age’ recruitment marketplace. Employers are offered free job advertising on cpjobs.com, and are free to preview the CVs of potential hires online before downloading the full versions by using pre-bought tokens. This saves the time which would usually be spent sorting and downloading CVs, and employers only pay if they want to look at a full CV. This ‘rewards-oriented’ platform will help employers and jobseekers alike.

Emil Chan, start-up consultant and vice president of the Hong Kong Blockchain Development Association, says that recruitment models desperately need disruptive innovation to catch up with the latest trends in corporate HR.

Sign up now at www.cpjobs.com/token10 and receive five free tokens to get started!