The media has reported that the online dating website eHarmony will be entering the recruiting business—matching employers with people looking for a job. Beginning first in the United States likely in June 2013, and soon thereafter in Canada, eHarmony plans to use its matching technology used to pair singles looking for love matches in a different way—it plans to help find the perfect employment union. That is, eHarmony will be using its technology to create the perfect harmony between job candidates and employers. How successful will this venture be, and will it change how employers find new employees?
The entire process of recruitment has undergone a sea of change in recent years. Just as new technologies have changed the face of communication and networking, this has had a profound impact on the way both job seekers and recruiters operate in this hyper connected world.
Human capital is a firm’s most important and profitable asset. Recall Swiss banking giant UBS’ rogue trading disaster in 2011, during which the bank reported a $2.3-billion loss as a result of one man’s unauthorized trading. UBS’ chief executive officer resigned as a result, and the bank also lost two high-ranking executives who took indirect responsibility for the incident...