Curated Intel from the Talent Tech Industry
August 1-8, 2022:
• Moving to WFM or working-from-the-metaverse: Survey suggests it’s the next step in WFH;
• Employing new leverage in the talent market: Employ acquires talent acquisition suite Lever;
• Improving market dynamics: Jobs & quits fall, but demand-supply mismatch still a problem;
• Getting ready to turn on workers: Turn launches fully autonomous hiring solution Ready;
• Firing their recruiters: CIOs argue for their own tech TA teams saying they can do it better.
PLUS
• Huge brand building and lead gen opportunities – that’s what you’ll get from sponsorships at TAtech’s fall Leadership Summits: Technology & the Candidate Experience (September 28 NYC), Applications of Recruiting AI for Enterprise Employers (October 25 Chicago), and Recruitment Marketing (December 1 Boston). Contact Peter Weddle at PeterWeddle@TAtech.org for details.
Are hybrid work and the metaverse interlinked?
The metaverse, a digital space for us to live and work, attracts plenty of criticism when discussing some of its more outlandish concepts. However, in the here and now digital working can be tied in with digital spaces, we see it already in products like Microsoft Teams, Zoom, and Slack. In this climate, workspace provider Regus has spoken to 2,000 office workers and 250 senior executives to uncover whether the metaverse can actually help with hybrid work efforts. Interestingly, 66% of business leaders said that they see the metaverse as the natural progression for hybrid working, and 48% are exploring office space within the online world for their employees. Of course, leaders don’t want to give employees 3D avatars just for fun. Respondents claimed that they thought this digitization could help improve diversity (62%), positively impact wellbeing (57%), and reduce presenteeism (54%).
Employ Inc. Acquires Lever, Adds Capabilities to Suite
Employ – the organization created in March as a home for Jobvite, JazzHR and NXTThing RPO – has acquired Lever, a talent acquisition suite that offers ATS and CRM capabilities in one product. In a blog post, Employ Chief Marketing Officer Allie Kelly said the transaction makes Employ the largest modern provider of talent acquisition solutions. By adding Lever, the company becomes home to 850 employees serving 18,000 customers, she said. It supports 3.1 million active jobs, nearly 500 million candidates and 4.9 million hires over the past 12 months. Altogether, the company offers applicant tracking, recruitment marketing, internal mobility, employee referral, analytics, AI and recruitment process outsourcing from a single solution provider. Lever said that with its joining the company, Employ becomes the world’s largest modern Talent Acquisition suite provider.
Job Openings, Quits Continue to Fall
Job openings fell by over 600,000 to 10.7 million in June, according to the monthly JOLTS report released by the U.S. Bureau of Labor Statistics. The largest decreases in job openings were in retail and public education. The drop in job openings marks the third month in a row of declines, indicating that labor shortages are beginning to ease, although levels remain nearly twice as high as the pre-pandemic norm. June also marks the 13th consecutive month that more than 4 million workers left their jobs. Quits fell by 37,000 in June, but the sustained wave of quitting signals that workers continue to feel comfortable enough amid record-high openings to switch jobs in pursuit of higher pay or better working conditions. The recovery in labor force participation still has a long way to go, leaving the labor market with a massive gap between supply and demand that's pushing labor costs and wages higher. Job openings outnumbered unemployed workers by about 4.8 million in June.
Turn introduces "Ready," a fully autonomous hiring solution that provides access to millions of workers
Turn, a platform revolutionizing talent acquisition for recruiters and people teams with high-volume hourly staffing needs, today announced "Ready," a fully autonomous hiring solution that combines the technology and services businesses need to confidently hire at scale. Ready is a next-generation talent acquisition solution that autonomously locates, converts, screens and background checks workers, reducing the time to fill by 79%. It also processes talent acquisition and background checks in 0.9 days - 81% faster than current practices. "Ready does the recruiting for you. As a fully automated and AI-powered recruitment solution, it strategically taps a wide range of high-converting channels to ensure a steady stream of qualified candidates," said Rahier Rahman, founder and CEO of Turn. "It's intuitive, so you can easily create jobs, including requirements, rates, screeners and background checks. Simply type in what you're looking for." No more costly SaaS solutions.
CIOs make the case for bespoke, internal tech talent acquisition teams
In order to secure technology talent, organizations require CIOs to invest in talent acquisition leaders in order to 'take back control' of technology recruitment. Talent acquisition can deliver business benefits, cost savings, the ability to respond to the skills market and, most importantly, recruit necessary technologists. As CIOs reveal to diginomica, talent acquisition is, like technology, not just a bolt-on, but a strategic approach and a good investment. With all the skills shortage headlines, it would be easy to assume CIOs were forming talent acquisition teams to cope with the shortage, but the topic runs deeper than this, as Conor Wheelan, Chief Information and Operations Officer at financial services firm Experian explains: We looked at the metrics and history of our recruitment and our reliance on the recruiters, and it was a mixed bag.
TAtech’s Fall Leadership Summits Are Huge Brand Building & Lead Gen Opportunities
Huge brand building and lead gen opportunities – that’s what you’ll get from sponsorships at TAtech’s fall Leadership Summits: Technology & the Candidate Experience (September 28 NYC), Applications of Recruiting AI for Enterprise Employers (October 25 Chicago), and Recruitment Marketing (December 1 Boston). These one-day, one-topic conferences are specifically designed to promote dialogue and connections among busy corporate and industry leaders. Each program provides both a deep dive into an important talent acquisition strategy and plenty of time for senior-level peer-to-peer networking. So, lock down your sponsorship before they’re all gone. Contact TAtech CEO Peter Weddle (peterweddle@tatech.org) right away!