Peer-to-Peer Hiring, empowering companies with the ability to exchange skilled workers directly. It defines the future of recruiting and should be part of every company’s recruiting stack. In this blog, you will gain insights into the following:
The shortage of skilled professionals in Germany
The labor market is currently facing major challenges. Companies are desperately searching for suitable employees and must invest vast amounts of resources in their search. In the meantime, it is the standard practice of many company’s daily operations to use several channels in order to generate the greatest possible reach for job advertisements. The reason for this is that the number of skilled workers has been steadily decreasing for years- which we can see reflected in the current situation of how many days it takes to fill a job. On average, jobs were vacant for 129 days in 2019 before they could be filled. Corona has seen the number of jobs available drop dramatically, but we are seeing a recovery after the recession. According to the latest figures from the German Federal Employment Agency, the labor market is recovering from the pandemic and the number of job postings increased by 195,000 in 2021 compared to the previous year (© Statistik der Bundesagentur für Arbeit). The IT sector is also strongly affected by this, with 66% of the IT companies surveyed having difficulties filling vacant IT positions, according to the Federal Statistical Office (Statistisches Bundesamt).
With an eye on the future, we should also keep in mind the potential effects of rising inflation has on the recruiting market. The labor market needs new innovative ideas to address this problem and a potential solution is offered by the new concept of Peer-to-Peer hiring.
What does Peer-to-Peer hiring mean?
Peer-to-Peer hiring is a future model designed to give hiring managers direct access to professionals and candidates from other companies. This means that a company has direct access to the talent pool of other companies and also shares its own talent pool without having to go through several middlemen. MoBerries was founded with the aim of cutting out the middleman and driving transparency. At the heart of this is Peer-to-Peer hiring as a recruiting standard. Our mission is to bring companies and candidates together and make the process more flexible.
MoBerries' new Monetization feature also gives us the ability to add the candidates we did not hire to our talent pool and recommend them to others. In case of successful referrals to third companies within the MoBerries network, we benefit.
This form of Peer-to-Peer hiring is highly effective, especially when both companies operate in the same industry or share the same location They can find candidates who have experience in the required areas or come from the right region faster. Peer-to-Peer Hiring enables industry and location-specific searches and helps companies support each other in finding the perfect candidates. Even if candidates are not suitable for the advertised position or decide against a job offer, companies that have put effort into the application process should be rewarded. In the past, all the effort in the application process has been lost after a rejection. Peer-to-Peer hiring finally converts the effort of the application process into value. The change in paradigm is simply that no one really owns a candidate however companies should make the data generated from every encounter matter.
We already have the future of recruiting. At MoBerries we are already at the forefront of recruiting– by offering Peer-to-Peer hiring with our Shared Talent Networks. A Shared Talent Network gives companies the chance to create open or exclusive talent pools and share candidates with each other.
MoBerries establishes the connection between the companies and the MoBerries Talent Engine acts as an intermediary. Skilled employees can be transferred easily and simply from one company to another via MoBerries. MoBerries also compares the requirements of the companies and the candidates and, thanks to the extensive filtering options, provides the companies with precisely fitting candidates with industry knowledge.
Learn more about the Shared Talent Network on our blog.
What are the benefits of Peer-to-Peer hiring?
One advantage of Peer-to-peer hiring is that companies have access to a large number of specialists and can therefore refrain from using other channels. Talent acquisition teams are always busy looking for ROI-positive channels as it is one of the most important aspects of talent acquisition. Through Peer-to-Peer hiring, we increase ROI by finally creating value from the application process, even for unsuccessful candidates. We reduce the dependency on cost-intensive job portals such as Stepstone and LinkedIn. This means that recruiting costs can be reduced and the selection of candidates becomes even more qualitative thanks to MoBerries’ intelligent applicant filter.
To further drive down recruiting costs, a company can activate MoBerries’ monetization feature. The monetization feature allows non-recruited candidates to be referred to MoBerries, allowing companies, in turn, to lower their recruitment costs on MoBerries.
Referrals are 5x more effective than all other means of hiring.
According to a report, 51% of companies say that with a referral program their cost per hire is significantly lower than any other recruiting source. Referral hires have better job satisfaction and stay longer at companies.
The first time I heard about MoBerries was when an HR manager sent me a referral link after declining my job application for their company. I was interested to find out more about new job searching tools and fortunately, MoBerries turned out to be the most successful on.
– Andreja Milosevic
Peer-to-Peer Hiring eliminates the need to hire a large number of lateral hires, which in turn retains and promotes industry knowledge. This new way of acquiring applicants reallocates skilled workers more efficiently, making the labor market more dynamic and flexible. Talent is not lost as a result, and skilled workers can be absorbed quickly and easily, even in the event of company liquidation. In addition, the overall selection of skilled workers increases, since candidates do not have to register with several job portals, and can directly receive job offers from many different companies.
With MoBerries you have a committed and knowledgeable partner for the future and can quickly and easily find candidates tailored to your company.