The Latest from the Talent Tech Industry
February 21-27, 2021: Appcast’s Recruitment Marketing Benchmark Report reveals mobile applies in 2020 surpassed desktop applies for the first time; MIT Technology Review tackles a hard question: what is an algorithm?; Phenom acquires video technology company TalentCube; Adecco to open North American headquarters in Atlanta; Drafted releases its 2020 Employee Referral Program Benchmark Report; Thomson Reuters shifts strategy from human capital to machine capital to spur growth in sales and profits; and DDI study reveals even leaders are struggling with burnout; PLUS Industry Pros on the Move: Matt Charney to SmartRecruiters; Andrew Bassat to step down as MD / CEO of Seek. Never a dull moment.
Covid-19 Impact on Recruitment: Mobile Apply Overtakes Desktop
Appcast, a global leader in programmatic recruitment advertising technology and services, unveiled the findings of its fifth annual “Recruitment Marketing Benchmark Report.” The report examines 2020 job ad data - 125 million job ad clicks and 7 million applies - from nearly 1,300 U.S. employers, revealing how industry and job function, geography and market, job ad content and timing impact recruitment advertising outcomes. According to the report, mobile applies surpassed desktop applies for the first time in 2020; 60.7% of job applications were completed on mobile devices compared to 39.3% on desktop. When examining how apply rates compare on mobile and desktop devices, the report also reveals: Desktop apply rates decreased 6.7% in 2020 compared to 2019 versus a 21.2% increase in mobile apply rates in comparison to last year.
What is an “algorithm”? It depends on whom you ask
Describing a decision-making system as an “algorithm” is often a way to deflect accountability for human decisions. For many, the term implies a set of rules based objectively on empirical evidence or data. It also suggests a system that is highly complex—perhaps so complex that a human would struggle to understand its inner workings or anticipate its behavior when deployed. But is this characterization accurate? Not always.
Phenom Acquires TalentCube to Offer Video-Based Talent Experiences
For years, HR has been on the precipice of a digital transformation — one that has been accelerated by the pandemic. HR teams adopted video technology out of necessity to discover, hire, and retain best-fit talent. Moving forward, it will become an undeniable competitive advantage. To ensure global employers are equipped with the quality of video they need, we acquired Talentcube, an experience-driven video technology company based in Munich, Germany. The founders of Talentcube always envisioned a future where remote video hiring could be just as authentic and engaging as in-person hiring — and they spent the last five years enhancing this medium for candidates. Together, we will be able to integrate personalized video technology within our Talent Experience Management (TXM) platform for candidates, recruiters, employees, and hiring managers.
Adecco Group to Open New North American Headquarters in Atlanta
The Adecco Group, the world's leading talent advisory and solutions company, announced plans to establish its new North American headquarters in Atlanta. While the Group's business services center will remain in Jacksonville, Florida, key leadership and commercial functions will be based in the new Atlanta headquarters. The move will support collaboration across the company's three Global Business Units – Adecco, Talent Solutions and Modis, which were established as part of the Group's new strategic cycle Future@Work.
Drafted Surveyed 200+ Companies on Employee Referral Programs
It’s common knowledge that employee referrals are a gold mine when you’re looking to make great hires quickly. But creating, managing, or scaling a successful referral program takes some tactical effort, and there’s not a lot of information out there about exactly what to do and where to start. That leads to a lot of frequently asked but rarely answered questions, like:
• Shouldn’t employees refer their friends because they like it here? Why do we need a referral bonus?
• Will a crazy reward like a trip to Hawaii get us more referrals?
• How much do we need to budget for referral bonuses?
To help finally answer some of these questions, we at Drafted surveyed more than 200 companies to create the 2020 Employee Referral Program Benchmark Report.
Thomson Reuters to stress AI, machine learning
Thomson Reuters Corp will streamline technology, close offices and rely more on machines to prepare for a post-pandemic world, the news and information group said recently, as it reported higher sales and operating profit. The Toronto-headquartered company will spend $500 million to $600 million over two years to burnish its technology credentials, investing in AI and machine learning to get data faster to professional customers increasingly working from home during the coronavirus crisis. It will transition from a content provider to a content-driven technology company, and from a holding company to an operational structure.
New DDI Study Reveals Leaders Are Struggling With Burnout
An unprecedented year of ongoing change and a lack of confidence in current and future leadership could lead to retention problems within the next year. The lack of confidence is being fueled by burnout and a sense of constant crisis, according to DDI's Global Leadership Forecast 2021. These are just two of the findings from the study, which was conducted by DDI and HR analyst Josh Bersin. The study is the largest of its kind and includes data from more than 15,000 leaders and 2,102 human resource professionals. These leaders represent more than 1,740 organizations across more than 24 industries globally. The survey began in February 2020 and ran through July 2020, capturing many of the changes in leadership that occurred before and during the pandemic.
Industry Pros Making Moves
Matt Charney joined SmartRecruiters as Head of Industry & Product Marketing.
Andrew Bassat will step down as MD and CEO of Seek, the online jobs site he co-foundered with his brother, Paul, at the end of the financial year, with Ian Narev taking over from July 1.