Hello. I'm Watanabe Tenmei from Seito Medical School Clear File. This is another rewrite article. I'm going to rewrite the article titled "Is the 80:20 rule true? If the skills of the top 20% of employees were given to the remaining 60%, sales would more than triple. by Nada 20231004".
Recently, I thought that it would be good to conduct job hunting for workers through an auction system. In economics, there is a story called the market for lemons in the used car market. In the market for lemons, due to information asymmetry, the sellers of used cars have a lot of information about the used cars, but the buyers of used cars have no information at all about the used cars.
In other words, there is a difference in the amount of information available to buyers and sellers of used cars, and as good quality and poor quality used cars are sold for the same price, sellers of good quality used cars disappear from the used car market, leaving it filled with poor quality used cars.
The same can be said about workers. Generally, a company's job information is presented in a single job posting with monthly salary and benefits. Even if a worker is of a level that would be hired for that job, the salary and benefits when hired will be the same for those hired for the barely available job and those hired with a margin of error. If the people hired for the barely available job are in the bottom 80% and those hired with a margin of error are in the top 20%, the amount of sales will be significantly different due to the 20/80 rule.
The 80/20 rule is the hypothesis that the top 20% of employees contribute to 80% of sales, and therefore the top 20% of employees who generate 80% of sales and the bottom 80% of employees are offered similar salary levels and benefits when they are hired.
Of course, there will be many employees who achieve great results after being hired, and who receive raises and promotions, but if talented employees and less talented employees are offered the same treatment at the time of hiring, it is possible that the same thing will happen as in the market for used car lemons.
Well, I would like to offer my own proposal on what the auction method is for workers' job hunting. First of all, in job hunting, it is of course the workers who have most of the information about the workforce. The workers themselves know best what companies they have worked for, what kind of achievements they have made, their own strengths and weaknesses, and whether they are an excellent worker.
After that, workers submit documents and videos including their work history and self-promotion on a labor auction site, which we will call "Worktion," and undergo screening by companies. When a company wants to hire a certain employee, it is selected by the worker by offering better treatment than other companies.
In other words, the modern method of recruiting is the opposite, with companies posting job postings and having workers choose from them. In workshops, workers submit their job search information and companies set a price for that labor. By posting a job posting, companies can approach people they consider suitable for employment in advance, instead of having unworthy workers apply.
If we are talking about the top 20% of talent, there is a high possibility that companies will compete with each other for them, so the auction will select the company that makes the most attractive proposal for that talent. Of course, it would be a waste to lose the labor force you have selected after going to such lengths after just one interview.
So, for example, I would like to suggest that you conduct a formal interview and then have the person actually work for a month as a trial period. In the case of information asymmetry, the employee has overwhelmingly more information about the person's workforce, and by having the person work for a month, both the employee and the company can confirm whether the person is truly suitable.
Of course, one month is not a very long period. For example, there may be some excellent personnel among the employees who will finally be able to show their true potential after a year. However, a probationary period that is too long can be a burden on the company, and it is expected that the longer the period, the more of a burden it will be for the employees if they are not officially hired.
If you want to eliminate information asymmetry in the used car market, you should set up a trial period for the used car. By doing so, information will be shared between the seller and the buyer of the used car, minimizing losses due to differences in information.
The same is true in the labor market. Auctions allow workers to receive better treatment and companies to avoid interviewing unnecessary candidates, which is thought to reduce the waste of job hunting. Furthermore, by setting up a trial period in addition to interviews, it is possible to aim for a sufficient return for the burden of the auction and to reduce the information gap.
By adopting the auction system in the market for lemons, talented people can be properly evaluated and receive the treatment they deserve. Furthermore, companies can also determine whether or not they have talented people, so it is beneficial for both parties.
This labor auction method can be automated by creating an online website, and it is thought that efficient operation is possible by using manpower from the auction side only when it is needed.
The top 20% of talent generates 80% of sales. By finding a way to properly evaluate the top 20% of talent, talent in the labor market will be allocated efficiently. I would like to propose an auction method for this purpose. The time is ripe. All that remains is to remove preconceived notions of workers and companies. That's all. I hope the labor market will become more sophisticated. Bye.
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