It could be the Great Attrition, the economic disruptions, and/or simply the evolving hiring landscape, organisations are increasingly struggling with hiring the right candidates. The competition remains fierce as professionals are more willing to experiment with switching jobs, taking up non-traditional roles, or starting their own businesses.
In fact, a recent research by Aon, a leading global professional services firm, confirms that despite salary hikes, the attrition rate in India still stands at 20.3%, which is only marginally lower than 2021.
This struggle increases significantly when it comes to the tech industry. Since “every company is a tech company these days” — the competition for top tech talent is fiercer. So, how do you identify and attract the right companies/candidates?
Enter hackathon hiring drives!
Influx of passionate and creative minds, innovative ideas, brainstorming, effective solutions to address real-world business problems — welcome to the world of hackathons!
By bringing developers, business problems, and recruitment managers together, hackathon hiring drives have become great tools to scout out the best talent in the industry.
A notable case in point is Hack & Grow. To put themselves at the forefront of innovation, Magnit (formerly PRO Unlimited) partnered with WeAce for a hackathon hiring drive to hire high performing developers for their top tech positions. The quality engagement and participation at this hiring drive simply goes to show how hackathons are an effective way to identify top creative tech minds and to stay ahead of the curve, always!
This collaboration of the pioneers in workforce management with a platform on a mission to balance workplaces is truly an initiative worth paying attention to.
Here’re our takeaways from the collaboration on why leveraging hackathons for hiring/ job opportunities is a wagon you should not miss to foster innovation and change.
Benefits for Organisations
Find fresh (& many) solutions to a problem
A hackathon hiring drive by leading with a problem statement to be solved for, truly gives a platform to tech minds, offering them freedom, inspiration, and creativity to innovate. The day-to-day operational activities can consume employees. The diversity of tech minds at such hiring drives gives you various ways to approach the problem from a different angle and perspective.
Save Time & Be Cost Effective
Cut the hiring process time by 80%! Since the candidates hired through a hackathon hiring drive have a chance to get familiar with the company products, dynamics and culture — ‘this can cut down the time required for training from 3–6 months to less than 6 weeks.’ And because ‘you don’t over-hire, you don’t overpay’.
Distinguish Efficient & Dedicated Professionals
Hackathons for hiring attract tech minds who are ready to go that extra mile, beyond the regular work and responsibilities. Such dedicated and driven talent is exactly what organisations need to encourage innovation.
Enhance Employer Branding
Maximise outreach by creating meaningful conversations around your organisation and what it does. It can serve as a great way for potential candidates and the world to learn about your brand, leading to new opportunities and promotion.
By bringing developers, business problems, and recruitment managers together hackathon hiring drives have become great tools to scout out the best talent in the industry.
Benefits for Tech Professionals
Showcase your Skills & Ideas
A traditional one-on-one interview might not give you the opportunity to truly exhibit your tech talent and cutting-edge ideas. Hackathon hirings provide a platform where your talent, efficiency and creativity comes first. It could be a chance for you to flaunt specific ideas or skills that you might not be able to otherwise.
Learn in an Interesting Way
Industry trends keep changing and keeping up with all of them just might not be possible. A hackathon could be a great learning resource & a platform for you to develop new skills and even test new concepts for further understanding.
Access to Great Mentors and Interaction with Leaders
A platform to connect people with ideas, hackathons are a great place to connect with potential mentors and industry experts. You could also get a chance to interact with seasoned professionals and organisation leaders.
Break Away from the Mundane
Breaking away from the mundane serves as one of the best ways for new ideas and creative juices to flow. Solving real problems innovatively at hackathons can provide you with just what you need to inspire fresh thoughts.
Hackathon hirings provide a platform where your talent, efficiency and creativity comes first.
Considering the impact a hackathon hiring drive can have on the growth of your organisation, the opinion seems to be unanimous — hackathons are here to stay! It’s what you make with it that matters.