Curated Intel from the Talent Tech Industry
April 1-7, 2024:
• Grabbing talent now the norm: ZipRecruiter survey finds almost half of jobs filled by poaching;
• Consolidating the Baltic job market: Estonia-based CV Keskus acquires Lithuania-based cv/lt;
• Making careers possible: Indeed survey finds remote work helpful to parents, especially women;
• Adding visual content to job ads: CareerArc acquires SaaS recruitment video platform Lumina;
• Hallucinating in the Big Apple: New York City’s AI chatbot tells businesses to break the law.
PLUS
Seats are going fast at TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
The great talent grab: More people who recently switched jobs say they were approached by a recruiter instead of applying themselves
The job market may be tighter than it used to be, but the war for talent isn’t over, and HR teams have a new challenge to deal with: other businesses aggressively courting their staffers. A growing share of people who switched jobs in the last six months say they were actually recruited by another company, according to a recent survey by ZipRecruiter of more than 1,500 employed adults in the U.S. Around 46% of new hires polled in the first quarter of this year say they were recruited to their jobs instead of applying themselves, up from 34% who reported the same during the fourth quarter of 2023. In some cases, they were approached because they signaled on job platforms like LinkedIn that they were open to being contacted for a new job. “As the talent acquisition landscape evolves, we're witnessing a significant shift where proactive recruitment by employers is becoming the norm,” Amy Garefis, ZipRecruiter’s chief people officer, told Fortune in an email interview. But it’s not all good news for workers. Employees as a whole are having more difficulty finding a job on their own as the job-hunting process gets longer. Only 46% of people surveyed by ZipRecruiter in the first quarter of 2024 who recently started a new job said they found their role in under one month, a steep drop from 60% of job switchers who reported the same last quarter.
CV Keskus expands its presence in the Baltics by acquiring Lithuanian job marketplace cv.lt
CV Keskus, the Estonia based operator of leading job marketplaces platforms in the Baltics and part of the Swiss media group Ringier, has successfully completed the acquisition of cv.lt, Lithuania’s pioneering job marketplace founded in 1999 and specializing in white-collar jobs. cv.lt was previously operated by the leading business media company Verslo Žinios, which is majority-owned by Swedish Bonnier News Group. With the acquisition, CV Keskus both expands its existing portfolio of leading job marketplaces in the Baltic States, which includes the job portals CVMarket.lt in Lithuania, CVKeskus.ee in Estonia and CVMarket.lv in Latvia, as well as its service offering specifically for Lithuanian job seekers and employers. Povilas Kytra, CEO of CV Keskus: “With CVMarket.lt, CV Keskus currently operates a well known job marketplace in Lithuania. The integration of cv.lt into our existing network of job portals will further boost our presence in the market and significantly increase the opportunities for our clients to connect with top talent. At the same time, job seekers will have access to an even wider and more attractive range of job opportunities.”
Remote work holds more appeal for women, Indeed finds
Women with a job are about 25% more likely than employed men to say remote work is a reason for starting a new job search, according to a March 27 report from Indeed’s Hiring Lab. In surveys conducted between July 2021 and December 2023, nearly 15% of women listed a desire for remote work as a motivator during the job hunt, while about 12% of men said the same. “The stark gender differences revealed by our survey are in line with both speculation and evidence that remote work is even more appealing to parents, particularly mothers,” Nick Bunker, economic research director for North America at the Indeed Hiring Lab, wrote in the report. “The rise of remote work seems to have reduced some of the hit to employment experienced by many mothers.”
CareerArc Acquires Recruitment Video Platform Lumina
CareerArc announced this week that it has acquired Lumina, the #1 SaaS platform for generating visual job postings at scale. The acquisition reflects an aggressive investment in automated video creation as CareerArc takes a major step towards alleviating one of the greatest challenges for talent acquisition teams in their recruitment marketing efforts: content creation. The addition of automated video creation, powered by Lumina, makes CareerArc a more powerful player for employers looking to attract job seekers and optimize their job postings for sharing on social media. “On Facebook, we’ve seen a 40% increase in applications as well as a 50-60% increase in engagement when we use Lumina videos,” reported a Fortune 500 staffing and recruiting agency. A top healthcare system in the United States activated the Lumina integration within CareerArc and reported, “more engagement, more job clicks per post, and better reach than a traditional static post.” Beyond social media, Lumina Visual Job Postings can be embedded into job boards and career pages to elevate the employer brand and increase applications. A global pharmaceutical company embedded a Lumina video into a posting on a major job board and saw the apply rate for that role increase from 12.13% to 28.28%.
NYC’s AI Chatbot Tells Businesses to Break the Law
In October, New York City announced a plan to harness the power of artificial intelligence to improve the business of government. The announcement included a surprising centerpiece: an AI-powered chatbot that would provide New Yorkers with information on starting and operating a business in the city. The problem, however, is that the city’s chatbot is telling businesses to break the law. Five months after launch, it’s clear that while the bot appears authoritative, the information it provides on housing policy, worker rights, and rules for entrepreneurs is often incomplete and in worst-case scenarios “dangerously inaccurate,” as one local housing policy expert told The Markup. The Microsoft-powered bot says bosses can take workers’ tips and that landlords can discriminate based on source of income.
Register Today While Seats Are Still Available at TAtech North America
Seats are going fast at TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!