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Curated Intel from the Talent Tech Industry
July 8-14, 2024:
• Putting job seekers off: Survey finds applicants hate job ads lacking salary or remote work info;
• Fueling global expansion: HR Path secures record €500M/$540M in financing from Ardian;
• Remaking its workforce: Intuit gambles on AI in mass layoff of 1,800 paired with hiring spree;
• Buying into “acqui-hire”: Feds calls out Big Tech’s poaching talent, products from AI startups;
• Seeing a little sunshine in the market: North American startup funding jumped higher in Q2.
PLUS
Get both worldclass content and business-building connections at TAtech Europe & The EMEA Job Board Forum. Register right now for the only conference in the EMEA 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 September 17-19, 2024 in Paris at Cercle National des Armées, and it has a limited seating capacity. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
Applicants hate when job ads lack a salary range or potential for remote work, survey shows
More than 2 in 5 U.S. workers say they’d lose interest in a position if the job ad lacked a salary range in the job description, according to a June 26 report from Robert Half. Other job search deal-breakers included a requirement to work on-site without a potential for remote work, a lack of emphasis on company culture and a prolonged interview process. “In the era of the Big Stay, employers need to take into consideration what workers want and come to the table with competitive offers,” Dawn Fay, operational president of Robert Half, said in a statement.
HR Path secures record €500 Million in Financing from Ardian
HR Path, a global leader in helping companies with their recruitment, development and retention of talent, announces a record €500 million fundraising from Ardian, a world-leading private investment house. This landmark fundraising, the largest of the company’s history, marks a significant milestone in HR Path’s success story. It will play a crucial role in driving the next phase of HR Path’s growth and international expansion in the United States, Canada, Germany, the Nordic countries and Australia.
Intuit’s AI gamble: Mass layoff of 1,800 paired with hiring spree
On Wednesday, Intuit CEO Sasan Goodarzi announced in a letter to the company that it would be laying off 1,800 employees—about 10 percent of its workforce of around 18,000—while simultaneously planning to hire the same number of new workers as part of a major restructuring effort purportedly focused on AI. “As I’ve shared many times, the era of AI is one of the most significant technology shifts of our lifetime,” wrote Goodarzi in a blog post on Intuit’s website. “This is truly an extraordinary time—AI is igniting global innovation at an incredible pace, transforming every industry and company in ways that were unimaginable just a few years ago. Companies that aren’t prepared to take advantage of this AI revolution will fall behind and, over time, will no longer exist.”
Feds call out Big Tech’s new approach to poaching talent, products from smaller AI startups
In the race to stay ahead in artificial intelligence, the biggest technology companies are swallowing up the talent and products of innovative AI startups without formally acquiring them. San Francisco-based Adept announced a deal late last month that will send its CEO and key employees to Amazon and give the e-commerce giant a license to Adept’s AI systems and datasets. Some call it a “reverse acqui-hire.” Others call it poaching. Whatever it’s called, it’s alarming to some in Washington who see it as an attempt to bypass U.S. laws that protect against monopolies.
North American Startup Funding Jumped Higher In Q2
North American startup funding perked up in the second quarter, bolstered by early-stage investment around artificial intelligence. Overall, investors put $45.3 billion into seed- through growth-stage financings for U.S. and Canadian startups in the second quarter of 2024. That’s a 30% rise from the prior quarter and a 35% jump from the same period last year. But it’s an uneven recovery, as some sectors sputter and others soar. Artificial intelligence remains the runaway favorite investment theme, as AI-focused startups pulled in $16.8 billion in Q2. A single company, Elon Musk’s xAI, accounted for over a quarter of all early-stage funding. Meanwhile, investment activity remains down or muted for a host of other areas, including enterprise software, consumer products, and fintech. Additionally, the number of reported deals actually fell in Q2.
The Extraordinary Value Proposition of TAtech Europe
Get both worldclass content and business-building connections at TAtech Europe & The EMEA Job Board Forum. Register right now for the only conference in the EMEA 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 September 17-19, 2024 in Paris at Cercle National des Armées, and it 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!
