Talent acquisition software company Radancy acquired Ascendify, a cloud-based talent engagement software platform. According to the company, the acquisition enhances Radancy’s suite of solutions focused on helping enterprises find the talent they need to strengthen their business.

Comeet, a recruiting software provider, launches a new AI assistant that aims to enable better hiring decisions, improve candidate experience and promote diversity and inclusion. According to the company, the solution leverages OpenAI’s GPT to create job descriptions, pre-screening questions and email templates. In addition, the company said the assistant will soon be able to make interview questions and scorecards.

Oyster announced Oyster Total Rewards, a new suite of solutions meant to help companies design a compensation strategy and offer salary, equity, and benefits for teams. The company said the solutions are competitive, compliant, aligned with budget and—most importantly—aligned with employee expectations.

HireRight acquired a background screening provider based in Argentina. The company said this will Inquiro Vitae allow for more targeted local support for its customers hiring across Latin America.

Launched as the U.S stands on the precipice of recession, the Conference Board Job Loss Risk Index measures the likelihood of layoffs in individual industries, based on factors such as demographics, labor shortages and sensitivity to monetary policy. The Index measures the likelihood of layoffs in individual industries based on several key factors including demographics, labor shortages, and sensitivity to monetary policy.

Likewise, a pullback in e-commerce and discretionary spending on goods is likely to cause job losses in transportation and warehousing, while construction is at risk due to weakness in the housing market amid rising interest rates.

The post HCM Talent Technology Roundup April 14, 2023 appeared first on RecruitingDaily.

Reconsider Your Benefits

Your normal benefits package is likely less exciting to new graduates than to your more seasoned employees. If you want to successfully recruit fresh graduates, rethink the benefits you’re offering.

They’re often more interested in flexibility, values and giving back than they are in salaries or great health insurance. It doesn’t take much, but a few benefits specific to the younger generation will go a long way.

Logan Mallory
Vice President of Marketing, Motivosity

Make Relationships With Universities

Recruiters interested in recruiting recent graduates should create relationships with universities. Many universities have career departments that can help connect companies with recent graduates.

Partnering with universities can help recruiters reach a pool of qualified candidates. The relationships that recruiters build with universities can lead to participating in on-campus recruiting events, such as career fairs.

Bryor Mosley
Career Coach, Southern New Hampshire University

Emphasize Mentorship, Advancement and Development

Fresh graduates understand they’re going to be entering the workforce at the entry-level, but they don’t want to stay there forever. If you make it known that you’re a company where they can learn new skills, take on more responsibility and grow their career, you’re not only going to attract more recent graduates for your team, but you’ll also better target the top talent among them.

The graduates who will find advancement, mentorship and other ongoing development most enticing are the exact people you want to hire: those who are passionate about their careers and invested in ongoing learning and growth.

In many cases, these kinds of benefits will be more enticing for recent graduates than a role with a slightly higher salary or other workplace perks, because smart job seekers see how mentorship and skill building will lead to roles with a higher salary range in the future.

Matt Erhard
Managing Partner, Summit Search Group

Don’t Be Exploitive

Businesses have a bad habit of preying on those new to the field. We’ve all heard stories of terrible internships, paid or unpaid, and entry-level jobs that count on a person’s desperation to begin work in their field. Do not be a source of these practices.

New graduates, especially in current times, don’t have nearly as much luxury for gaining experience versus necessary compensation. Expecting someone to take a mediocre job with terrible benefits because they’re fresh to the field will be viewed poorly by graduates.

Even if they do take your job, you can be certain that they will split their attention due to needing to find other methods to make ends meet. If you want to attract recent graduates, offer opportunities that any worker would be interested in taking. When graduates are treated with respect rather than as opportunities for companies, they’ll be much more receptive to recruiting efforts.

Max Ade
CEO, Pickleheads

Use the Academic Calendar

Most senior college students are not likely to be job-hunting during midterms‌! To maximize the effectiveness of your recruitment campaigns, you must time them well.

Using firm funds to recruit recent graduates during test time is probably not a wise investment. Consider starting your recruitment campaign as the school year nears its conclusion. Not too late that all the other major businesses have beaten you to the top fresh graduates, and not too early that students have not yet considered their post-university employment options.

Strive for the sweet spot that will provide you access to recent graduates at the optimal time. If you are unsure of when to target recent graduates, your network of university and college career services departments can be helpful.

Alexandru Contes
Co-Founder, ReviewGrower

Participate in Career Fairs and Campus Events

Participate in career fairs and campus events to connect with potential candidates and build relationships with universities. This could include discussing the company culture and values, offering internships or entry-level positions and highlighting opportunities for growth and development within the company.

It’s important to be authentic and genuine in your interactions to build trust and a positive impression of the company. Additionally, utilizing social media and online job boards can help reach a wider pool of candidates.

Sam Chan
Founder, PiPiADS

Take a Holistic Look at Each Candidate

No matter the role, it is important to take a holistic look at each candidate to find out if they have the drive to excel and the soft skills to fit within the culture.

Recruiters should consider a few elements key to their strategy:

Identify opportunities to engage. Many campuses organize job fairs or on-campus recruiting. These events are great opportunities to connect with many candidates at once before they graduate.

Consider an internship program. A robust internship program is an ideal avenue to pre-train candidates, plus interns learn if the company culture is the right fit before they become a full-time hire.

Prioritize candidates who want to learn. New grads need to be brought up to speed quickly, and enthusiasm for learning helps them succeed.

Understand core competencies. The necessary skills for a new hire depend on a business’s talent needs. In some industries, candidates may need to have completed specific courses to succeed. In others, soft skills may be more important.

Jill Chapman
Director, Early Talent Programs, Insperity

Showcase Your Company Culture and Values

Recent graduates are often looking for a company that aligns with their values and offers opportunities for growth and development. By showcasing your company culture and values, you can attract fresh graduates who are looking for a company that aligns with their own beliefs and aspirations.

Brendan Bray
Team Manager at EC1 Partners

The post How Do You Recruit New Graduates? appeared first on RecruitingDaily.

According to a recent McKinsey/LeanIn study, women are re-evaluating their careers and switching jobs in unprecedented numbers. The global pandemic highlighted challenges associated with child care, family time, and mental health.

But, many of these workplace challenges began for women long before the pandemic started. We just finally seem to be talking about it – out loud and in front of decision-makers.

Are companies listening?  Well, women aren’t waiting around, twiddling their thumbs, waiting politely for an answer. Instead, they’re communicating with their feet – as they walk away from a job (and maybe a career) that doesn’t serve them.

Keep reading to learn more about the Great Breakup and its implications on hiring in 2023 and beyond.

Why Are Women Changing Jobs in Droves?

According to the McKinsey/LeanIn study, women are changing jobs for three primary reasons:

• Women leaders want to advance, but they face more challenges than men
• Women are underrepresented in their organizations but overworked
• Women demand a better work culture focused on diversity, equity, and inclusion (DEI), overall well-being, and flexibility

Let’s look at each.

1.    Women Leaders Want to Advance, But Face More Challenges than Men

Just like men, women want to grow professionally, advancing in their careers. However, women face unique challenges that men don’t. Here are some examples of these headwinds from the McKinsey/LeanIn study:

• Women leaders are twice as likely as men to be “mistaken for someone more junior”
• 37 percent of women leaders have had a co-worker take credit for their idea, compared to 27 percent of men leaders
• Women are more likely than men leaders to have co-workers who imply they are unqualified or question their judgment
• Women leaders are more likely to claim that their personal characteristics (such as being a mother or caregiver and/or their gender) have negatively impacted their ability to advance (through receiving a raise or promotion)

2.    Women are Underrepresented, Unrecognized and Overworked in their Organizations

Anyone feel this one? Statistically, women are still underrepresented in their organizations – especially in leadership positions. McKinsey/LeanIn’s Women in the Workplace 2022 Report says that women are “dramatically underrepresented in corporate America with only one in four women serving in an executive, C-suite role.

And, despite this underrepresentation, women are still unrecognized and overworked, giving way to burnout and mental health challenges. In fact, 43 percent of women leaders feel burned out compared to 31 percent of men in similar positions.

But here’s the rub. Women spend 2x more time and effort than men on supporting employee DEI initiatives – both of which improve employee retention and satisfaction rates. However, 40 percent of women leaders say this additional DEI work isn’t acknowledged in performance reviews. While work in DEI helps to attract and retain talent while improving corporate brand, this work doesn’t help women advance – it just stretches them thin.

3.    Women are Demanding a Better Work Culture

Finally, women are demanding a better work culture and changing jobs when they don’t find it. Women are more likely to change jobs to find a culture with more flexibility and commitment to DEI and well-being.

And although these demands were present before 2020, the global pandemic just emphasized the importance of these demands.

Here are some examples to consider:

• Women leaders are 1.5x more likely than their male counterparts to have left a previous job for one that prioritizes DEI
• 49 percent of women say that flexibility is a top reason they consider when accepting a job offer or staying at a job

To attract and retain female talent, especially in leadership positions, employers must support women.  If not, women will continue leaving in droves, setting diverse employment and leadership back decades.

Are Younger Generations of Women Changing Jobs Too?

So, what about our future female leaders? Well, the news isn’t much better there. With mid- and senior women leaders leaving for more flexible, diverse, supportive positions, there will be fewer female mentors at a majority of companies – leaving younger women with no one to watch advance up the ranks.

And young women want to advance.  According to the McKinsey/LeanIn study, more than two-thirds of women under 30 want to advance to senior leadership positions. Additionally, more than half of these women say that advancement has become more important to them over the pandemic. Finally, just like their more experienced counterparts, younger women also want to work for an organization that prioritizes flexibility, DEI, and overall well-being.

Companies that fail to focus on these issues will have difficulty retaining women leaders they already have while potentially losing out on recruiting young talent, creating a weak (or broken) leadership pipeline for attracting the next generation of leaders.

Instead, companies must continually embrace flexibility and commitment to DEI and well-being all while providing women with opportunities to advance – free of headwinds. After all, a diverse and inclusive company will continue to attract and retain the best talent while keeping its well-deserved competitive edge.

The post Why Are Women Leaders Leaving their Jobs in Unprecedented Numbers? appeared first on RecruitingDaily.

Creates More Person-Job Misfits

During a recession, most companies try to cut costs by laying off several employees at once. Of course, a job market with few jobs and many job seekers can often result in more person-job misfits.

A person-job misfit happens when an applicant is hired for a position for which they do not fit. It can be because of over-qualification or irrelevant skills and experience. Basically, this leads to a mismatch between job seekers and available jobs.

During a recession, companies may focus on hiring individuals with more experience, regardless of their skills and values. This is because companies are less willing to put time and money into training new talent. They would rather have someone who can start off strong.

Additionally, job seekers would be more eager to secure employment, so they would accept jobs that are not a good fit for their skills and experience. This means that they could settle for jobs that do not use their full potential.

Paw Vej
Chief Operating Officer, Financer.com

Transforms Entry-level Applicants from More Experienced Careers

Recessions can wreak havoc on entire industries, and the employees in those industries are going to transition to other spaces that aren’t as affected by economic downturns, even if it means starting over. Someone with ten years of retail experience is going to move on to something in the digital realm because that is where the jobs are going.

If you’re in an industry that is attractive to those leaving a floundering industry, you’re going to have more applications to wade through, and a higher percentage of those applications are going to be filled out by people with little-to-no experience in your sector. You also have to decide whether to take a chance on one or more of those candidates, which can be a big thing to consider.

Brittany Dolin
Co-Founder, Pocketbook Agency

Lowers Overall Likelihood of Hiring

One significant effect is that organizations are less likely to hire new workers due to cost-cutting measures. This means that employers are more selective in choosing candidates and may even place a moratorium on certain types of positions.

Additionally, job seekers may be more cautious during a recession since they may not be sure if their job is secure or not. This can lead to more competition for fewer positions and longer hiring times. Companies are also likely to offer lower salaries than during periods of economic stability, which can lead to job seekers feeling less motivated to apply for jobs.

Brenton Thomas
CEO, Twibi Digital Marketing Agency

Places More Obstacles in Front of Recruiters

In the short term, businesses may lay off existing employees or stop hiring new ones altogether. Additionally, businesses may freeze pay increases or salaries may be reduced because of less demand for products or services by customers and clients.

Recruiters will have a harder time convincing potential candidates that this is an ideal time to join the business when there are no benefits, like increased pay or job security. On the other hand, in the long term, recessions often lead well-positioned organizations to target new markets with innovative solutions by newly hired personnel during economic upturns as they prepare for future growth prospects.

In addition, during times of economic uncertainty, there is less competition among applicants, making it easier for recruiters to select top talent from a larger pool of applicants compared with previous years when the competition was fierce. Astute recruiters can look past general resumes and focus on what makes each applicant unique.

Travis Lindemoen
Managing Director, nexus IT group

Limits an Employer’s Ability to Give Raises

A recession can have a notable effect on recruiting efforts, as businesses struggle to maintain multiple departments with limited financial resources.

An example of this is the inability of many employers to give raises; although it is likely that workers will continue to be recruited, it may be at the same salary as before or even lower sometimes, which reduces the overall money available. This lack of growth potential could further limit the pool of qualified applicants who are willing and able to take on new job opportunities.

Grace He
People and Culture Director, TeamBuilding

Changes Recruiting from One Phase to Another

Although the number of job opportunities may decrease during a recession, the recruiting function remains robust. It alters from trying to find qualified applicants who are looking to change building a talent pipeline for future needs.

Many more talented people who are currently employed are open to a dialogue in an uncertain economy, so if you concentrate your efforts on talent acquisition, you can create a pool of fantastic candidates that you otherwise might not have been able to reach if the economy was strong.

Dave Haney
CEO, Surety Systems, Inc.

Generates a More Helpful Situation

Contrary to what many companies believe, as a veteran recruiter, I contend that one of the best times to recruit is during a recession. Here’s why—during a recession, most companies halt their hiring. By continuing to interview, and possibly hire, during slow economic times sends a clear message to those talking to you that your company is resilient.

In addition, with fewer companies interviewing, you are less likely to get into a bidding war against another firm vying for the same candidate. Also, your chosen candidate will probably not be receiving a counteroffer from their current company.

Obviously, you don’t want to offer them a lower compensation package, but you definitely will not get into a bidding war and have to overpay. Finally, during a recession, many external recruiters may discount their fees in order to get your business. All good reasons to continue recruiting regardless of the economic climate.

Jamie McCann
Executive Recruiter, 3AM Marketing Services

Shifts to Working With Limited Resources

Business owners and leaders are feeling pressure to reduce costs and overhead, leaving recruiters to work with very limited resources, especially as costs continue to increase. As such, the cost of recruiting has gone up significantly, and resources available to recruiters will continue to decrease.

It’s no secret that economic uncertainty impacts recruiting. 2022 was a year of increasing inflation, leaving many companies actively contemplating cutting recruiting resources in order to save costs. This not only slows hiring in different industries, but it also can negatively impact the company’s bottom line.

Yes, recruiting is expensive, but it’s also necessary. The recruiting process sets the tone for a new employee’s entire experience. As a company, you want to present yourself as strong, inclusive and encouraging. Cutting recruiting resources will make your company seem essentially cheap and uninviting, and this deters quality talent from walking through your doors.

David Lewis
CEO and Founder, Monegenix

Increases Talent Quantity, but not Necessarily Quality

The reality is that yes, there’s more talent on the market, but that doesn’t mean there’s more exceptional talent on the market.

The last few years were a candidate’s market, where they were demanding high salaries and expected certain lifestyle accommodations. Many companies had to make hires based on tight budgets and where the market was, which was extraordinarily competitive.

This is a time to really dive in and assess your team’s skills against the business outcomes you seek. If you do not feel you have the best-in-class talent to achieve those outcomes, it’s a good time to network and up-level your talent or invest in upskilling your current team.

Kristine Shine
Founder and CEO, Shine Talent

The post How Does a Recession Affect Recruiting? appeared first on RecruitingDaily.

Numerous talent acquisition (TA) individuals have been confronted with job layoffs over the past year and potentially even this year. This situation has caused a significant amount of anxiety not only for those who have managed to hold onto their positions but also for those who are seeking new career opportunities or have just secured a new role. 

6 Ways to Cope with Layoff Anxiety

With predicted shortages of human talent by 2030, it’s crucial to stay at the top of your game and take active steps to feel confident and like you have a worthy skill to offer your current or future employer. 

Here are some ideas on how to cope with layoff anxiety and keep doom-and-gloom uncertainty at bay. 

1. Know Your Worth

A Korn Ferry study concluded that by 2030, the world would see a human talent shortage of more than 85 million people, resulting in about $8.5 trillion in unrealized revenues. As a talent acquisition coordinator, your skills are vital in recruiting new talent, preparing companies for future positions by hiring staff with potential, and proactively hiring faster than competitors who do not have a TA expert in their business arsenal. 

Step up to the plate and shine as you proactively go about your job, making yourself indispensable.

2. Find Other Ways to Generate an income

Finding yourself without a job doesn’t mean you need to move into your mom’s basement and become nocturnal. Why not embrace the opportunity to shift gears in your career? There are recession-proof industries to consider if you’d like a change, or you can invest time and effort into a side-hustle business that includes your most-loved hobby. It could turn into a booming business or ease stress as a gap-filler until something permanent comes along. 

3. Upskill and Step Up

Even if you’re safe in your current job, upskilling sets you apart from other vulnerable employees. Staff interested in developing their skill show improved morale, productivity, efficiency, and more. If your current employer offers development opportunities, now is the time to put your hand up to take extra courses and show your desire to grow. 

If you’re between jobs, plenty of accessible or affordable courses will keep your mind sharp and motivated. You may even stumble across a new passion that leads to fresh career possibilities.

4. Have a Plan B in Place

Rather than wallow in layoff anxiety, take control of the situation and spend time planning what you’d do if you were laid off. Updating your resume, being diligent with savings, networking with industry professionals, and upskilling are all things that can have an impact on D-Day (if it comes). 

5. Seek Help 

Studies have shown that uncertainty can have a crippling impact on our ability to function. Visiting a therapist can help you deal with stress or that annoying imposter syndrome that tells you to panic. Adopting tools to deal with your anxiety is a lifelong skill. Beyond professional assistance, stay connected with people who can provide emotional support. 

6. Take Care of Your Physical Health

Exercise, eat well, and get enough sleep to protect your overall well-being against long-term stress.

Empower Yourself for the Future!

While coping with job loss may seem overwhelming, focusing on your health and creating a plan for the future empowers you to find new opportunities for growth and success. You can overcome the challenges of layoff anxiety and emerge more resilient and skilled than ever.

The post When Your Job is on Thin Ice: 6 Tips for Managing Layoff Anxiety appeared first on RecruitingDaily.

HireLogic announced a $6 million Series A funding round led by Joseph P. Landy, former partner and co-CEO of Warburg Pincus. Existing investors from HireLogic’s seed round also participated, bringing the company’s total funding raised to over $10 million. The investment will be used to advance the capabilities of HireLogic’s conversational analytics platform, expand go to market activities and meet the demands of the firm’s customer base.

Nucamp, a coding instruction company, said it will add all of its coding bootcamps to Degreed’s platform of training programs. According to the company, the partnership will give businesses access to web development skills for their employees.

Wolfe Inc. expanded its WolfeOne software to include HRIS functionality. With the expansion, the company’s clients can document and store employee information such as salary information, start date and end date, while also uploading supporting documentation.

ShiftPixy released its new “Fast Fill” recruiting technology, which the company says facilitates employment in the rapidly growing Gig Economy. Fast Fill can identify and target potential shift worker and connect them to open shift opportunities. The tech uses a mobile application to reach available workers directly.

The post HCM Talent Technology Roundup February 24, 2023 appeared first on RecruitingDaily.

On February 16, 2023, Indeed published its results from a recent study about Black job seekers and employees.  Keep reading to understand what Indeed found and how these results may impact your recruitment efforts.

Close to Half of All Black Employees Are Considering Leaving their Jobs

In a shocking statistic, Indeed found that 49 percent of Black workers aren’t satisfied with their current job for two primary reasons:

• 43 percent of Black workers feel like they’re working in a hostile environment where they experience microaggressions from coworkers and leadership
• Employers and Black employees have a disconnect regarding diversity, equity, inclusion, and belonging (DEIB) efforts. In other words, Black workers want employers to prioritize DEIB initiatives while employers think they are prioritizing them. Clearly, there is a gap

Indeed noted that Black workers want to work for organizations that are transparent about salary (78 percent), where personal and organizational values align (63 percent), and that support a diverse leadership team (60 percent) while prioritizing their DEIB initiatives to the same level as Black employees’ expectations. Doing so would not only attract more Black talent, but it would also increase retention rates – something that’s not happening now.

DEIB Policies, Procedures, and Training Are in Need of Continue Improvement

While we’re definitely not implying that DEIB policies, procedures, and training haven’t been effective – in fact, the statistics prove that Black workers believe most DEIB initiatives are effective –  we do agree with Indeed that improvement is needed.

For example, here’s an issue. Black workers generally believe that their employers are “implementing DEIB initiatives with ulterior motives.” Further, 24 percent of respondents believe that DEIB efforts are “performative in nature.”

While this is concerning, the inverse is true. Just over 75 percent of respondents believe that their organization’s DEIB initiatives are effective and perhaps even more important, genuine.

So, How Do Black Employee Demands and Employer Actions Line Up?

With these baselines established, what are Black employees demanding from their employers?  Here are some DEIB demands identified by Indeed:

• 58% want pay transparency and equity
• 52% are looking for more worker flexibility to improve work-life balance
• 44% would like increased representation

On the other hand, the top three DEIB initiatives implemented by employers are:

• 64% of employers implemented diverse hiring practices
• 44% noted diversity committees
• 40% cited DEIB employee awareness events

The Cost of Not Prioritizing DEIB Initiatives

So, what is the cost of not prioritizing DEIB initiatives?  Indeed found that employers who fail to prioritize diversity, equity, inclusion, and belonging among all demographics are not only hurting their employees, but they’re hurting themselves – and their futures.

Fifty-eight percent of Indeed respondents “skipped applying to a job they would have otherwise been interested in because the company did not appear inclusive and/or diverse.”  Of those employees, 45 percent said they “experienced discrimination in the job interview process.”

But it’s not just Black employees that demand a DEIB-forward workplace culture. According to an Indeed & Glassdoor’s Hiring and Workplace Trends Report 2023, 62 percent of all U.S. employees – across all different demographics – would consider turning down a job offer or changing employers if their company – especially their manager – did not support DEIB initiatives.

DEIB initiatives are continually essential to attracting and retaining top talent. However, employers should take survey results – like these from Indeed – to tailor and tweak their current DEIB efforts, ensuring that they still positively impact Black employees now and in the future.

The post Indeed 2023 DEIB Report: Black Worker Trends – What Recruiters Need to Know appeared first on RecruitingDaily.

Founded in 2007, the NFL Player Care Foundation is an organization dedicated to helping retired players improve their quality of life. The PCF provides assistance for multiple areas of life, including medical, emotional, financial, social and community. This year marks the third year of collaboration between the PCF and Atrium.

At the beginning of their relationship, the program primarily aimed to help retired players through building their resumes. According to Atrium Director, People and Engagement Joanna Chavers the work with the Player Care Foundation specifically took shape as career advising. “We started with doing resume editing for them – making sure these players had a great resume that really communicated their transferable skills,” she said.

Furthering Careers

“Post the resume advising, it became quite clear that yes, we could set them up with a really great resume, but they needed to know how to articulate this resume,” Chavers added. “So, the career coaching and career advising emerged within the last year along with our suite of services.”

As such, the players – or as they say, the “legends” – can better communicate their current skill set and how that will be applicable to their prospective career.

The collaboration now also includes access to a suite of Atrium products, including career advice, Predictive Index assessments, resume building consultations, interview coaching and job matching for the former NFL players.

On the topic of the expansion Chavers commented that the program is starting to take the form of 360-degree full support. “The program has turned into this journey of understanding how can we help the players through this process. It starts at the resume, and it ends in placement.” In addition, the two organizations also strive to empower the players they work with to be able to do it all on their own.

This past week, the PCF held their 5th Annual Super Bowl Career Fair, to facilitate meetings between legends and talent acquisition representatives. According to the company, the goal of the fair is to help players “explore how the skills learned on the field can successfully translate into the business world.”

The post The NFL Player Care Foundation Expands Collaboration with Atrium appeared first on RecruitingDaily.

Recruiters aren’t being spared either. Many of these layoffs included sourcers and recruiters. In some cases, entire teams were let go.

Apple is seeing much of the same challenges other tech companies are facing. Its stock price dropped 27% in 2022 and the company’s latest earnings report showed the first decline in quarterly sales in more than three years.

Yet, Apple is avoiding layoffs. Why and how?

Apple Operates and Hires Differently

Apple runs a little differently than other companies. For example, compared to its tech rivals, Apple tends to operate very lean. They don’t tend to offer the laundry list of perks that other tech companies do, and they tend to hire at a slower pace.

More Methodical Hiring

Compare the hiring patterns at some of the major tech companies over the past three years:

• Meta employment expanded by 94%.
• Google employment grew by 57%.
• Microsoft employment increased by 53%.

Yet, Apple only grew its staff by 20% during the same period. Although the company did scale back 100 contract recruiting jobs last August, so far mass layoffs have been avoided.

Industry analysts say Apple’s restraint in hiring during the pandemic is key to its ability to withstand economic challenges. While other companies added huge amounts of employees, Apple held off.

CEO Pay Cuts

There’s another significant step Apple took amid economic uncertainty. Tim Cook, Apple’s CEO, took more than a 40% cut in pay. While still set to earn an astounding $49 million in 2023, his comp package was reduced from $84 million in 2023. You can save a lot of jobs that extra $35 million.

FYI, CEOs at Alphabet (Google), Meta, and others didn’t take pay cuts.

So, No Layoffs at Apple?

 “We manage for the long term,” Apple CEO Tim Cook said during a February call with analysts. “We invest in innovation and people.”

That long-term thinking has paid off so far.

Tom Forte, senior research analyst at DA Davison predicts there will be reductions in headcount at Apple. Forte told Bloomberg Radio that the cutbacks are more likely to occur through attrition. Apple’s been vocal about employees returning to the workplace full time and that may shrink the ranks of employees who want to continue to work remotely. Forte expects any layoffs to occur at the retail level based on consumer demand.

Still, Forte says he sees an underlying structural shift in the tech industry. Despite record gains over the past five years, he says you can no longer count on these companies to automatically outperform other industries. “I think it’s a change in dynamics,” he said. “I think it’s something that’s going to continue to play out over the next 12 months.

Cook says they will work hard to avoid layoffs. “I view layoffs as a last resort kind of thing,” Cook told the Wall Street Journal. “We want to manage costs in other ways to the degree that we can.”

Still, he said, “You can never say never.”

What’s Next?

Right-sizing an organization and balancing employee headcount versus bottom-line expectations is always a challenge. Many companies overhired in the wake of the pandemic as consumer behavior changed. Now with slowing in eCommerce sales and digital advertising, companies are seeing growth patterns that align more closely with pre-pandemic levels.

What will happen next in hiring and recruiting? Expect more cutbacks across industries as companies right-size their organizations for the future. While mass hiring and layoffs in the tech industry get a lot of attention, hiring shifts are happening across nearly every industry.

Apple was more cautious than other tech competitors when it came to hiring and it looks like that decision is paying off so far — for both the company and its employees. As Cook notes, Apple is still hiring for strategic positions.

The post Can Apple Continue to Dodge Mass Layoffs? appeared first on RecruitingDaily.

“How big is the team?” The typical question, right, especially since I noticed that the fintech startup was about 140 people deep and was established about five years ago.

There was a pause. “That’s the best part; this person will get to build the team!”

“Oh, cool-cool. So…” I paused and took a deep breath because I knew exactly where this was heading. “Where is comp on this?”

After muttering that they were looking for a “real up-and-comer,” I knew where compensation was. “Help me understand, is this an IC or a leadership role?”

“Both!” they exclaimed.

“Both? How can this be both?” I had to ask. After reiterating that this was a startup and that the ideal candidate would wear many hats, I got the picture: my friend was asking me to refer to them a recruiter who would be enamored with the title and the prospect of being a startup’s only recruiter at a salary well-below market.

Games, Games, Games

Are companies playing Monopoly with job titles?

You betcha! It’s the ultimate game of inflation and deception. Smaller companies with limited resources may use job titles creatively to attract and retain talent or make themselves look like a big deal. But let’s be real; the only IT guy at a company could be the CIO, but companies may use different titles to stretch their budget and make the most of their limited resources.

Additionally, companies may use more general or ambiguous job titles to avoid having to pay for higher-level positions. This can inflate job titles to create a better image of their company and to attract and retain top talent. Or to make the job sound more important or prestigious to attract top talent. But let’s face it, people are emotional and ego-driven, so if it’s a title that seals that deal, often, organizations might be willing to flex on titles.

Title inflation happens for perfectly understandable reasons. Businesses are now in cost-cutting mode. Corporate-title inflation has crept into the workplace and is rising precipitously. Layoffs, hiring freezes, and concerns about a recession are spooking C-suite executives

Employers — and recruiters — have a clear incentive to make titles sound more attractive. A loftier title can go a long way when they’re tapped out on compensation

Experts say that title inflation can usually crop up in a few ways. Vanity titles are common in the startup world, especially in companies that lack a clear organizational hierarchy. With fewer rungs on the corporate ladder, promotions might occur less often — but that doesn’t stop companies from offering title-only upgrades, where employees assume a more prestigious job title without a pay increase or added responsibilities.

It serves to solicit unqualified candidates. Excessive title inflation can hurt the reputations of companies and their recruiters and could even question how qualified existing teams are. I mean, can you imagine a finance team with a bunch of inflated, ridiculous titles? That would be a disaster! And let’s not forget about the bizarre titles like “customer happiness hero” or “office ninja”. These are just empty buzzwords that don’t give any information about the role. So, job title inflation is like trying to put whipped cream on a turd, it may look nicer, but it’s still a turd.

When money is tight, a bump in the title is a way of recognizing someone’s efforts cheaply. Job title inflation is the increasing number and size of grandiose job titles in corporations and organizations without a corresponding increase in pay or increased importance. For organizations looking to bring in new employees, an inflated job title may confuse and disappoint applications if the role turns out to be a lower-level position than they were expecting. Ultimately, that can waste time and money in the recruiting process.

Knock-Knock

Who’s there?

The CIO.

The CIO who?

The CIO of the company, but don’t let my title fool you, I’m still just the only IT guy here.

Additionally, companies may use more general or ambiguous job titles to avoid having to pay for higher-level positions. Could companies inflate job titles to create a better image of their company and to attract and retain top talent? To make the job sound more important or prestigious to attract top talent?

Job titles are a key part of an employee’s currency on the labor market and can affect how someone’s career progresses, how much money they make, and even their status among peers and customers. And just like with any asset, a disconnect between the supposed value and the fundamental truth can end poorly.

Think about what’s happening in the world of Engineering recruiting. Title inflation for engineers is becoming more common, even in large companies. A senior software engineer at Uber, who spoke anonymously to Protocol, said she was promoted to senior engineer within three years of starting her first engineering job. This promotion allowed her to double her salary when Uber hired her and many of her peers are advancing at the same rate. The engineer said she expects her career to “plateau” a bit after climbing early.

So What’s the Harm to Recruiting?

Job title inflation can hurt recruiting efforts by making it difficult for companies to attract and retain top talent. When job titles are inflated, it can create confusion and mistrust among potential candidates and employees, as they may question the validity and value of their role within the company. Additionally, inflated job titles can also create unrealistic expectations and a lack of clear career progression within the company, leading to dissatisfaction and high turnover rates. Furthermore, when job titles are inflated, it can also make it harder for companies to compare and compete with other companies in terms of salary and benefits, which can also hurt recruiting efforts.

Also, consider the candidate and their future job prospects: job title inflation can make it difficult for candidates to stand out in the job market as their title may not accurately reflect their experience and expertise. It can also create confusion for recruiters and hiring managers as they may need help to distinguish between candidates with inflated titles and those with experience and qualifications. Additionally, candidates can struggle to negotiate salary and benefits as their inflated title may not align with their actual experience level. Overall, job title inflation can create a lack of trust and credibility for the candidate in the job market.

What’s Next with Job Title Inflation?

Inflating job titles is a growing trend in the workplace, particularly among smaller companies looking to attract and retain talent or make themselves appear larger than they are. Inflated titles can stretch budgets, make jobs sound more important or prestigious, or avoid paying for higher-level positions. However, this practice can harm the company and the individuals involved. It can create confusion, mistrust, and unrealistic expectations among employees and candidates, leading to dissatisfaction and high turnover rates. It can also make it difficult for companies to attract and retain top talent, compete with other companies in terms of salary and benefits, and for candidates to stand out in the job market. Therefore, recruiters should be aware of the potential pitfalls of inflated job titles and consider them when evaluating candidates and positions.

The post Now, There’s Job Title Inflation On The Rise? appeared first on RecruitingDaily.

Get part 1 of what you could and should be doing during your downtime.

What’s that, you say? My applicant tracking system (ATS) is fine the way it is! If that is the case, then you are definitely one in a million. As a contractor, consultant, and in-house sourcing leader, I can’t think of one organization of the twenty-plus I’ve done projects with that had a perfectly set up, well-organized and accurate ATS. And therefore providing every benefit it could perform.

According to Josh Bersin, “HR Tech spending is going to slow… [This] include[s] software for recruiting and ongoing systems for wellbeing.” So getting the most value out of current technology is a must. And I promise you, big or small, fortune 50 or start-up, your ATS can always use an occasional tune-up. 

Benefits of Applicant Tracking Systems

When an ATS is set up correctly, it can do miracles:

• Manage candidate flow
• Perform automatic candidate engagement and outreach to talent communities
• Set up interview scheduling for you
• Provide metrics that can show snags in your recruiting process
• Report actual activity needed to fill different kinds of jobs

Some ATS’ such as Loxo, have built-in resume parsing, outreach tools, sourcing tools, and automated candidate response capabilities that can boost candidate flow, improve candidate experience and automatically source past applicants – but only if they are set up. 

I was in awe when I was consulting for a unicorn tech company that had reached a staggering 1,200 employees to discover their recruiting activity was still being tracked on a gigantic spreadsheet. It was so interlinked to other sheets that daily updates took over five minutes to disseminate through all the pages. Not only was it clunky, but mining the information of past candidates, interview results, rejection reasons, and possible “keepers” was nearly impossible. 

ATS: It’s More Than You May Think

Many organizations simply see an ATS as a centralized location for all recruitment-related information. With all resumes, applications, and candidate information stored in one place, recruiters can easily access and review all relevant data, which can help make more informed decisions about which candidates to interview and hire. However, an ATS setup in alignment with an organization’s needs can also provide valuable insights into recruitment metrics such as time-to-hire and cost-per-hire, which can help companies better understand and optimize their recruitment process.

During a slow job market, I can think of no better (though mundane) task that will have big payoffs than a thorough ATS overhaul. The TA leader, sourcers, recruiters, and coordinators alike can all participate in the fun.

In fact, this is a project that should be a true team effort. In smaller organizations, the entire department should participate. In larger ones, there should be representatives from all the TA departments to provide input on the candidate journey, interview process, presentations and projects that are part of the interview process, and the offer process for different departments. 

Other Aspects of ATS and Beyond

Other items that should be looked at by the team include reformatting job postings in alignment with DEI, updating the old postings with this new verbiage in case they are reused, removing duplicate resumes, and ensuring that candidate information is accurate and up-to-date. Take a good, hard look at the recruitment process and find a way to standardize it between business verticals so that metrics are consistent and more meaningful. Examine sourcing activity tracking and make sure there is a CRM capability set up that seamlessly moves a candidate from prospect to being an active applicant.

Now, would also be the perfect time to add new features, such as a parsing engine or outreach tools to your ATS if you can swing the budget. Training on new technologies and sourcing tools, integrating them into the ATS, and the processes as you build them, will be a huge game changer when the market picks up.

Once all are set up, if so equipped, your ATS could deliver better results by automating many of the manual tasks associated with recruitment. For example, setting up a “drop box” or automatic parsing engine will allow your ATS to automatically search for keywords and qualifications that match the requirements of a particular job, and even schedule prescreens with the most promising candidates. This significantly reduces the time and effort required to find and hire the right people while ensuring that the recruitment process is more efficient and effective.

Some other benefits of making your ATS a well-oiled machine include:

• Improving the candidate experience. With the ability to easily apply for jobs online and receive automated updates about the status of their application, candidates can be kept informed and engaged throughout the recruitment process.
• Provide a platform for online assessments, which can help to identify the best candidates based on their qualifications and skills.
• Improve the overall performance of an organization by providing a more diverse and qualified candidate pool. With the ability to search resumes and applications by keywords and qualifications, you can identify candidates who may have been overlooked in the past.

Final Thoughts

An applicant tracking system can deliver a wide range of benefits to organizations looking to streamline their recruitment process and identify the best candidates for open positions if they are organized, set up correctly, and old, duplicate data is consolidated. Whether it’s through automating manual tasks, providing valuable insights into recruitment metrics, or improving the candidate experience, an ATS can help companies to make more informed decisions. This can reduce the time and effort required to find and hire the right people, and ultimately improve the overall performance of the organization. 

So take a few weeks, grab your cleaning gloves, and dig in. When the job market fires back up – and it will soon – you will be amazed at the boost to productivity and results.

The post What Recruiting and Sourcing Teams Can be Doing During Slow Times: Part 2 appeared first on RecruitingDaily.

But, almost three years later, the global pandemic’s lingering effects continue to impact the job market. Enter long Covid.

According to the Brookings Institute, about 16 million working-age Americans suffer from long Covid, with anywhere from two to four million out of work because of Covid’s lingering symptoms. The cost to these employees? Lost wages ranging from $170 billion to $230 billion annually, creating a “meaningful drag on U.S. economic performance and household financial health.”

Add to that:

• 260,000 working-age adults that have been lost to Covid
• The slowdown of immigration, costing another three million workers
• Baby Boomer retirements
• Lower birth rates

And, the job market just received another gut punch, along with suffering from its own lingering, seemingly incurable viral symptoms.

Long Covid and the Job Market:  Going Hand in Hand

In the U.S. alone, the coronavirus infected almost 102 million people, putting the brakes on the economy. However, doctors and scientists (and economists) thought that once people started feeling better, they’d get back to work.

A reasonable assumption, no doubt.

However, this hasn’t exactly happened.  Much like long Covid itself, the job market just can’t shake this sick feeling.

U.S. job openings are holding pretty steady at just over 10 million jobs (e.g., 10.3 million in October 2022 and 10.5 million in November 2022), just under the record high of 11 million job openings in 2021 and early 2022. But, where are the workers?

Well, some employees are being laid off by America’s largest companies, such as Amazon, Meta, Twitter, and Peloton. But, employees are quitting their jobs in droves as well – with quits exceeding “the pre-pandemic high for 21 consecutive months, as more than 4 million Americans voluntarily left their jobs in each of the past 18 months.”

In 2022 alone, 46.6 million employees voluntarily quit their jobs.

That’s shocking, to say the least, but the tides have turned. Employees are no longer willing to put up with inflexible, unfair working conditions, causing both workers and companies to re-evaluate the employer-employee relationship.

From the Great Resignation to the Great Reshuffle to the Great Layoffs, the job market is still trying to figure out how to heal itself, getting back to “normal.”

But is there a getting back to normal?  Or just learning to live with long Covid?

Looking for a Cure (or just a way to stop the bleeding)

According to the U.S. Chamber of Commerce, “[i]f every unemployed person in the country found a job, we would still have 4 million open jobs.” Wow-za.

How do you solve that?  What’s the cure?

We are definitely living in unprecedented times – but is it a crisis?  According to HR expert Josh Bersin, yes – almost.

Last fall, Bersin said:

[Q]uite simply, we cannot “manufacture more people” in a flash. We can solve the global supply chain problem by building a factory, buying a ship, or scaling up a distribution center. People don’t work that way. We need to educate them, train them, and coach them to perform at work. And as all the data now shows, when you “push” people too hard, they just quit, check out, or change careers.

The cure? Treat people like an asset, according to Bersin. Perhaps easier said than done…

The post Lingering Symptoms & Long Covid: The Job Market Continues to Struggle With its Own Chronic Illness appeared first on RecruitingDaily.

This represents a major opportunity for proactive hiring professionals who are looking to gain an edge amid fierce competition for talent. There are millions of overlooked Americans who aren’t included in the official unemployment rate of 3.5 percent because they aren’t currently searching for a job or they fall outside the DOL’s time window. But this doesn’t mean these people are unreachable – if companies expand their efforts to identify and recruit candidates, they’ll discover future employees who aren’t showing up in government statistics. This won’t just connect companies with the talent they desperately need – it will also help to draw workers out of the shadows. 

There’s a lot of talk about the strong labor market today, but these conversations need to consider the entire economic picture instead of the deceptively low unemployment rate. When HR teams focus on the millions of available workers who aren’t technically classified as unemployed, they’ll alleviate their talent shortages while contributing to a healthier labor force more broadly. 

Real Unemployment is Higher Than You Think

At the beginning of the COVID-19 pandemic, the labor force participation rate collapsed as the unemployment rate surged. But as the latter returned to pre-pandemic levels, the former has remained depressed – from 63.3 percent in February 2020 to 62.3 percent in December 2022. This rate is critical because it captures a reality that the unemployment rate misses. As the U.S. Bureau of Labor Statistics explains: “All persons who are without jobs and are actively seeking and available to work are included among the unemployed.” This leaves many people out. 

While early retirements, a legal immigration slowdown, and other factors have contributed to the shrinking labor market, a February 2022 working paper published by the Federal Reserve Bank of Chicago found that a lower willingness to work was also having an impact. This should come as no surprise – the quit rate remains high as employees continue to demand more flexibility on the job, better benefits and compensation, and greater opportunities for professional development and talent mobility. Meanwhile, we’re in the middle of an employee engagement crisis – Gallup reports that just 21 percent of employees say they’re engaged at work, which can lead to turnover, cultural problems, and lower productivity. 

Even when employees stick around, their lack of engagement and frustration with the status quo can lead to quiet quitting (a term I loathe, but that’s an article for another day), which refers to workers becoming less invested in their jobs and doing the absolute minimum necessary to remain employed. Is it any wonder that many of the workers who’ve dropped out of the labor force are feeling similarly disenchanted about their prospects? Just as many employees are merely going through the motions at their jobs, many would-be employees don’t see a compelling reason to rush back to work in the first place. 

How Companies Can Reach Overlooked Workers

While the labor force participation rate has remained stubbornly low over the past two years, this doesn’t mean companies should write off millions of potential employees who aren’t lining up to go back to work. In many cases, these apprehensive former workers are experienced professionals who would make a great addition to your team. They’re just deterred by the frustrating process of reentering the workforce, anxious about shifting workplace demands and environments, or in the process of reassessing their professional lives. 

But before hiring managers and HR teams even think about how to convince these professionals to return, they have to be capable of finding and contacting people who are no longer classified as “actively seeking” work. This is where talent rediscovery can be a powerful tool. Hiring managers are increasingly scanning their records to resurface potential employees who have previously applied for positions at their companies, as these candidates are more likely to suit their needs, and they’ve already expressed interest in a position. There are also great tools that seek to operationalize this process like Retrain. These candidates’ former applications will provide invaluable information for personalized outreach, and this level of engagement may be enough to bring them back into the labor force. 

There are many other strategies hiring managers can explore to identify overlooked workers. They can forge relationships with educational institutions, community groups, and other organizations where former workers may be active. They can reach out to part-time gig workers who were full-time employees before the pandemic. At a time when there are still many more jobs than workers, hiring managers will have to get creative about expanding their networks and finding talent where their competitors forgot to look.

Meeting Potential Employees Where They Are

As the quit rate soared over the past several years, the “Great Resignation” quickly became part of the lexicon for many HR professionals. But some in the industry prefer alternative terms like the “Great Reevaluation” to capture the fact that the social and economic turmoil caused by COVID-19 convinced many employees to take a hard look at what they want out of their careers. Employees are increasingly demanding remote work options, more robust financial support, a wider range of benefits such as mental health coverage, professional development opportunities, and greater flexibility.

HR teams are attempting to meet these emerging demands and expectations, which will lead to long-overdue changes in their relationships with employees. These changes may also appeal to former employees who dropped out of the labor force, and the companies that want to attract these potential workers should make it clear that they take employees’ shifting concerns and priorities seriously. At a time when household debt is surging – including a 15 percent year-over-year increase in credit card balances, which is a two-decade high – and the personal savings rate has collapsed, many workers who’ve been on the sidelines since the beginning of the pandemic may start exploring their options to return to the workforce. Your company should get a head start by finding these future employees now. 

Although the unemployment rate is hovering around 3.5 percent, it’s clear that this figure is undercounting how many Americans are out of work. Instead of writing these workers off, hiring managers should be doing everything possible to bring them back into the fold. 

The post How Hiring Managers Can Find Millions of Overlooked Workers appeared first on RecruitingDaily.

For starters, we know that seemingly everything has changed. A small comfort, sure, though it represents our ability to shift the narrative in our favor – to one that we can make sense of and master even as circumstances continue to evolve. Let’s consider.

The Market

To echo the sentiment from the top of this article, today’s job market is … intense. The monthly jobs reports seem to show growth and increased wages, while economists scratch their heads and issue warnings. At the same time, some companies are experiencing massive layoffs while others are hiring like crazy. This “will we, won’t we” recession dance adds exhaustion on top of frustration and makes it much harder to figure out what’s going on. Sadly, I do not own a crystal ball, nor do I pretend to possess some seer ability. Rather, when it comes to figuring out the market, I tend to abide by the following advice: 

1. Don’t look back. This is not 2008. What’s happening now has nothing to do with toxic mortgages. Do not use the Great Recession or Dot-com Bubble as a touchstone. 
2. Don’t panic. As the saying goes, this too shall pass. There may be some turbulence, but nothing you can’t weather. 
3. Do look ahead. Even without a map, you can still plot a course. Assess the tools and resources at your disposal and create actionable strategies to get through the coming weeks and months. 
4. Do stay grounded. Even during periods of prolonged instability, there is still work to do. Focus on enhancing and improving what you’ve got now.  

The Candidates

Now that we have the markets out of the way, it’s time to talk talent, and this is where we’ve seen the most significant shift as of late. Candidates are more critical of potential employers than ever before. They are the prize, and they know it. The impact of the pandemic and the ensuing Great Resignation brought about a power shift that crosses vertical markets, generations, and other distinguishing characteristics. Today’s candidates hold all the cards, especially in sectors like healthcare and light industrial. 

Even in the face of a slowdown, candidate expectations have changed, and they aren’t willing to settle for any ol’ job. As such, navigating the candidate engagement gap means understanding that engaging with a candidate is no longer a chance for them to impress you; it’s a chance for your organization to impress them. So, what does that look like? An emphasis on values, culture, team, and opportunity are all strong openers. Competitive compensation and benefits, flexible work environments, and an open, transparent hiring process will also help. But at the end of the day, each candidate is different and recruiting and retaining the right ones for your organization will require high-touch relationships. 

The Process

Despite the need to emphasize relationships, in the eyes of most organizations, successful recruiting is about three factors: speed, cost and quality. Still, when you operate in a world where talent is the prize, scarce even in an unpredictable market, your recruiting processes must reflect this shift in mindset from end to end, pre-hire to post-hire. That’s not to say that speed, cost and quality don’t matter anymore. Always have and always will, but you need to balance the quantitative against the qualitative. 

A recent CNN segment looked at how this plays out on both sides of the process, with candidates hoping for quicker response times and recruiters still relying on tactics like evergreen job ads to create pipelines. Ultimately, this is the type of gap we need to close, adapting current processes to current candidates versus trying to replicate what worked in the previous markets. Technology helps, particularly with the metrics, but at its foundation, recruiting is really about connecting with others, which means meeting candidates where they are today, not yesterday or the day before. 

The post Today’s Talent Mindset: What’s Changed & What’s Changing  appeared first on RecruitingDaily.

The vast majority of respondents – around 79% – said their focus for 2023 was hiring full-time employees. However, openings for contingent and contract positions were also noted as growing areas, with 50% and 57% respectively.

This may come as a surprise, especially with the state of the labor market and the possibility of an economic downturn to come. Regardless, most of the survey’s respondents said the revenue outlook for 2023 was average or better than in 2022– supporting an opportunity for a stronger job pipeline in many companies. In fact, only 13% of those surveyed reported concern about the state of their revenue in the year ahead.

Increased Focus on Skills

There was a clear emphasis on skills, especially technical skills, for 2023 based on the results of the survey.

The survey found that upskilling current employees is on the minds of many, including the participants of the survey. Fifty percent rated upskilling as a high priority in the year ahead, while only 2% said it was not a priority at all. As much can be expected as upskilling serves as a more cost-effective way to gain new skills without outsourcing labor or hiring for a new role.

Despite the number of tech-related layoffs in the last few months, the study also found that the bulk of open roles are technical in nature. The demand for talent in non-technical roles was not as high, being noted as medium priority for the respondents.

In addition to the increased demand, the survey also found that people were more intentional about seeking and vetting “quality talent.” A need for validating the skills and overall fit of candidates was shown to be high on the list of priorities for 2023, with 66% of respondents ranking it as such.

The post Survey Finds Positive Outlook for Hiring in 2023 appeared first on RecruitingDaily.