It may be time to move away from cumbersome resumes as the primary resource when it comes to hiring tech candidates. The future of recruitment may lie in hackathons, which are sessions with specifically designed job-related challenges to test candidates and fill in crucial tech positions on a company's roster. The process is faster and, of course, they'll eventually look at the CV.
Cab aggregator service Ola and real-estate portal Stayzilla had their product management teams put in place by Venturesity, a startup that creates challenges specific to a job description provided by the company. The company plans to introduce an auction-meets-hackathon model, where multiple companies can offer a job to a candidate with a good profile.
"For start-ups and product companies, hiring is yesterday's problem," says Subhendu Panigrahi, co-founder of Venturesity, incorporated in 2013. "We provide the employers a platform to create challenges on par with the actual job role. This brings down the time to hire a candidate to one-third."
The startup charges recruiters based on the number of successful hires as well as a subscription fee.
While top companies and well-funded startups have the bandwidth to hire students through campus placements, most don't have the wherewithal to screen 1,000 candidates to hire a team of five.
"For traditional campus placement, the hiring pipeline is long and with the lean-bench model companies follow these days, the need to fill positions is immediate," observes Santanu Paul, CEO of TalentSprint, which helps engineering graduates upgrade their IT skills for the job market.