Recruiter Insider are joining us at the technology showcase event on the 20th June and ahead of that Justin Hillier has penned this blog post for us.
A new economy and form of currency has started to take shape recently, one that can’t be seen, it can rarely be bought and most certainly should have everyone’s attention by now. It’s been in the news but you may have actually missed it. It has in fact become so valuable that people are scrambling to work out how to get involved and a piece of the action.
And it’s not Bitcoin…
I am talking about the “Experience Economy” and the currency that’s driving it is so fluid and far-reaching, that it’s value is almost immeasurable.
In a world where we now get a private car (Uber) for our commute or stay in a private home (AirBnB) for a holiday or business trip, amongst many services, the experience provided is now being measured and our feedback sought. You only have to look at the likes of TripAdvisor to see just how powerful providing a great experience to customers has become, a bad review or bad rating can literally cripple a hotel or restaurant.
The real estate industry has got into the act as well. Whether it be a new home loan businesses or real estate agents, the engagement and experience provided is changing to where the customer is centric and the end result secondary.
All of these business have focused heavily on the “experience” being provided, in large part even ignoring local laws. They have built a movement behind stepping up the experience offered and making it more personalised and memorable. When you stay in an AirBnB you feel like you’re at home, an Uber you can play the music you wish or have a conversation with someone solely focused on making sure you leave, having enjoyed the experience.
Recruitment isn’t there yet, but we should be. What is more personal than engaging with someone and discussing their career? Many people define themselves by what they do, it is who they are, and it’s how they earn a living. Yet as an industry, this experience has largely stayed the same.
Since going live 4 months ago, we have seen one major and compelling shift. One consultant in particular, by every metric we measure, was leading us to believe that they were out the door, by their own accord or pushed. But then something amazing happened, with no direct intervention at all.
Ownership began. Ownership of the experience being provided and knowing what the expectations were from candidates and clients, every metric now was seeing a dramatic increase, feedback from management was that the consultants attitude had also changed and by the end of the quarter, for the first time, this consultant was one of the top billers and continues to be this quarter.
This was a case of a measurable outcome on the experience this consultant provided by placing more people in jobs, producing more revenue and shifting attitude to be more positive person around the workplace. This impacts others and their experience in working with their colleague and also wanting to reach these new heights. Whilst not as measurable how much more valuable is that?
Experiences are a distinct economic offering for your candidates and clients and your business, but are you measuring it; is it relevant, not to you, but them, what value is yours?
