It’s an exciting time for tech as technological advancements continue to open new possibilities and change the way we solve problems. This is true for nearly all sectors of activity. And recruitment is no exception.
Technological solutions in recruitment come about at a time when HR professionals are having a hard time filling open positions and retaining top talent. In fact, in the US, employee quit rate is at an all-time high. And in some regions of the country, there are a reported two open positions for every one job seeker. In short, HR professionals need help finding talent, and traditional recruitment methods simply aren’t able to meet the challenge.
Hungarian entrepreneur, George Vari, has spent decades developing recruitment solutions and creating companies that meet the challenges faced by HR professionals. And his latest venture, Lensa, is perhaps his most ambitious yet.
The Man Behind the Mission
The founder of Lensa, George Vari, is above all a creator. After completing his business studies at McGill University in Montreal, Canada, and complementing his studies in Koblenz, Germany, Gergo returned to his native Hungary to begin his professional career. He would discover that in the early 2000s, there did not exist any effective platform in Hungary to help job-seekers and recruiters find one another.
So instead of pounding the pavement (in a more or less literal sense of the expression), he decided to put his business acumen and love of technology to practical use and build a much-needed recruitment platform. This decision led to the creation of profession.hu, and it was a big success. In fact, a mere four years after its creation, Gergo Vari sold profession.hu to the media giant Sanoma Media Budapest. At the time, this sale was the largest sale of its kind in the history of Hungary.
And Gergo Vari did not stop there. He went on to create other companies that proposed recruitment solutions, companies such as Network.hu, AffilateMedia, and Replise.
Behind the Creation of Lensa
In the early 2000s, job search platforms began appearing online. However, these early iterations were little more than digital replicas of the traditional classifieds section you’d find in print newspapers or the corkboard you’d find at your local cafe. They served simply to propagate the traditional recruitment methods, and those methods simply can’t meet the challenges of today’s HR professionals.
Lensa, in contrast, was created with the aim to implement the latest in technological advancements and put them to the service of job seekers and HR professionals alike. These technological advancements notably consist of AI and machine learning.
Recent headlines such as “the godfather of AI quits Google to warn of the tech’s danger” or “alternatives to AI chat bot ChatGPT” have a tendency to paint AI with a broad brush and cast it in a negative light. However, it’s worth pointing out that AI is a tool, and it is not the tool itself that is problematic but rather in how one chooses to implement the tool that could pose a problem.
In the case of Lensa, its AI-powered search engine combs through millions of job offers and CVs. From these data points, Lensa’s machine learning algorithms identify commonalities and detect patterns in the hiring process. From there, the algorithms can make predictions about recruitment practices and the likelihood of candidate-employer matches. With these predictions and by filtering for targeted keywords, Lensa’s AI-powered job search engine matches job seekers with jobs they are likely to get and perform well at.
A Targeted Search With Sustainable Results
Back in 2001, when Gergo Vari created profession.hu, he sought to respond to a market need: a platform where job seekers could get instant access to available job openings. With the creation of Lensa, Gergo is seeking to respond to a different market need, one that is arguably more complex, which, thus, requires a more complex solution.
The recruitment process is broken. This is evidenced by the unusually high quit rate that plagues nearly all sectors of activity. This high quit rate is due, in part, to the fact that employees are finding jobs that just aren’t suited for their specific skills, priorities, and interests. Additionally, there is a labor shortage afflicting both the US and the UK. HR professionals aren’t finding the requisite talent to meet their recruitment needs.
With Lensa’s combination of advanced machine learning algorithms and a dedicated staff of recruitment experts, Lensa aims to meet the intricacies of today’s recruitment challenges with today’s intricate solutions. The role of HR professionals today is arguably more challenging and more important than ever before (not to mention how fierce the competition is in attracting and retaining top talent).
HR professionals simply can’t afford to revert to the broken recruitment methods of yesteryear. But fortunately, thanks to companies like Lensa and entrepreneurs like Gergo Vari, new solutions are only a click away