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SCIKEY's Research Indicates Last-Minute Dropouts of Candidates Touch 25 Percent in Mid-Size Companies
SCIKEY, one of the new age talent solutions ventures that provides a talent commerce platform, indicates that the last-minute dropouts of candidates are nearing as high as 25 percent for mid-size and small IT companies while the attrition is said to be more than 20 percent. The survey also identified that companies struggle to fill the gap while they struggle to add to a quality workforce to grow the business.
Shriram Viswanathan, Founder, SCIKEY, says, “SCIKEY Research found more than 90% of the dropout candidates had scored less than 40% on the parameter of 'Adaptability.' It was evident that most of the dropouts happen because of the anxiety level of the candidate in changing their existing familiar environment and seeing the next gig as a risk-taking rather than an opportunity. SCIKEY MindMatch algorithm provides inputs on 25 parameters relating to mind-set of the candidates and has the potential to answer many questions that remain unclear to the HR and recruitment industry”.
The recently launched SCIKEY Talent Commerce platform has an in-built psychometry assessment algorithm called ‘MindMatch’ that maps the candidates’ mind-set. MindMatch helped to find why some candidates drop off before joining while most others joins. SCIKEY’s another analysis finds that candidates with lower trust and integrity scores have the tendency to shop their offers using their notice period time. Candidates also hesitate to dishonor commitments if they receive better financial opportunities with another employer. In addition, SCIKEY’s research also states that better candidate engagement improved the joining ratio and only less than three percent of the companies studied followed any candidate engagement worth mentioning.
Karunjit Kumar Dhir, Co-founder, SCIKEY, comments, “We plan to offer MindMatch as a 'scientific-input' (as against a mere guess-work) to companies to get a deeper understanding of their potential and existing employees. We will also offer a certification training program soon to HR and recruitment executives to take full advantage of SCIKEY MindMatch data”.
Established in 2017, SCIKEY’s objective is to deliver extraordinary outcomes for various talent needs including employee experience management, employee learning & development with their MindMatch algorithm. Its Mindmatch algorithm focuses on disrupting and transforming the way hiring is done globally using AI & Psychology. SCIKEY also have collaborations with global universities and a team of expert researchers & data scientists with R&D centres in Europe and India.
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