Curated Intel from the Talent Tech Industry
October 24-30, 2022:
• Creating more engaging job postings: CareerBeacon buys employer branding platform Ruutly;
• Aiding CHRO conversations: Inclusion, Diversity, Equity and Accessibility Network 250 launches;
• Building out its offering: iCIMS acquires SkillSurvey for skills verification and reference checking;
• Taking a pause on the next gen internet: VC funding for Web3 drops by 50% in 2022;
• Cutting the cost of tech talent: Oracle will no longer recruit in San Fran and other tech hubs.
• Yesterday’s Recruitment Marketing strategies will no longer work – the expectations and behaviors of today’s candidates are just too different from those of the past. So, how must Recruitment Marketing evolve to regain its effectiveness? That’s the focus of the TAtech Leadership Summit on Recruitment Marketing. Designed for both corporate and industry thought leaders, this event is all about identifying the new Best Practices of Recruitment Marketing – those that will yield positive results in 2022 and beyond. So, join us on December 1 at Boston University in downtown Boston, MA USA.
ICYMI: CareerBeacon Announces the Acquisition of Ruutly
CareerBeacon, the leading online recruitment and talent acquisition site in Atlantic Canada, announced today its acquisition of the employer branding platform, Ruutly. Without extra work by recruiters, Ruutly automatically transforms static text job postings into interactive, delightful candidate experiences whenever a new job is added to a company's ATS. It has been helping big brands such as Indigo, Haleon, GSK, Siemens, and Coachhub bring their job postings to life. At any given time, Ruutly makes a distinct impression by powering 13,000+ job postings and 4000+ social share images and is currently active in 35+ countries and 12+ languages. Ruutly's visual job posting transformations have improved its clients' quarterly job posting view rates by up to 54% and apply click rates by as much as 152%. CareerBeacon's acquisition of Ruutly's technology and hire of the company's Founder and CEO, Ryan Porter, is its investment in continuing to enlighten recruitment with visual, contextualized job postings that are proven to make better connections with job seekers.
New Global Inclusion, Diversity, Equity and Accessibility Network Launched
Executive Network announces the launch of a new peer network: Inclusion, Diversity, Equity and Accessibility Network 250 (IDEA250) to help the world’s 250 largest companies unlock their potential to solve some of the biggest challenges of our time -- DE&I, and well-being -- for their employees and for the world. “Talent, DE&I and well-being are top priorities for all global CHROs, and the real value of this peer network is the ability to learn from leaders who are doing it right in order to create actionable and sustainable IDEA solutions,” said IDEA250 Network Director Maggie Inbamuthiah. “This is particularly important in the DE&I and well-being space, where being recognized and embraced for your differences is essential and translating values across an organization is crucial,” she continued. The launch of IDEA250 is an integral part of Executive Network’s commitment to helping HR professionals solve global inclusion, diversity, equity, and accessibility challenges. For more than 20 years, Executive Networks has been working with the globe’s top CHROs to facilitate targeted and trusted peer conversations, gathering insights and data, and providing research results to its members to solve tomorrow’s HR issues, today.
iCIMS Acquires SkillSurvey, a Pioneer in Skills Verification and Digital Reference Checking
iCIMS, the talent cloud company, today announced the acquisition of SkillSurvey, a pioneer in skills verification and digital reference checking that helps more than 2,300 companies make the best possible talent decisions. SkillSurvey takes the guess work out of verifying skills and the qualifications of candidates. As a leading provider of cloud-based reference checking, SkillSurvey's solutions help organizations save time and money and bring the right employees on board faster to drive better performance outcomes. Its patented reference checking solution is revolutionary, verifying skills and delivering feedback from references in a much quicker and more candid way that can be used earlier in the hiring process. SkillSurvey also has dedicated credentialing solutions and capabilities to meet healthcare organizations' unique hiring needs. Together, iCIMS and SkillSurvey will help enterprise businesses attract, engage, hire and advance the talent they need to build winning teams.
Web3 Funding Sees Huge Drop As Big Rounds Dip
Investors are tightening their purse strings on everything right now — and that apparently even means the next iteration of the internet. For the last two years, venture capitalists have been enamored with all things Web3 — a hot buzzword that encompasses everything from crypto startups to blockchain developers to decentralized tech builders. However, after a record-breaking 2021 which saw more than $30 billion invested in this burgeoning space, investors seem to be taking a pause. Funding to VC-backed Web3 startups, as well as the number of deals, dropped to its lowest since the end of 2020, with the sector mirroring the venture market in general. The recently completed quarter only saw slightly more than $3.3 billion roll into startups in the space — nearly a 50% decrease from the previous quarter. That’s the lowest total since just about $1 billion went to startups in Q4 2020, and a far cry from the high of nearly $9.3 billion invested in Q4 last year.
Oracle won’t hire tech talent from New York, San Francisco: report
Oracle has told its hiring managers and recruiters to shun prospective employees living in coastal tech hubs New York, San Francisco and Seattle, according to a report. The cloud computing giant will instead opt to hire talent from American cities that have lower cost of living as well as Eastern European areas — a move aimed at cutting costs in the face of fierce economic headwinds faced by the technology sector. “Oracle doesn’t want to be in the upper echelon in terms of salaries,” an Oracle employee who works in the company’s human resources department told Insider news site. “They’re OK passing on the top candidates and going for the second-tier, more affordable candidates.” HR employees told Insider that Oracle has told its hiring managers to avoid candidates from “tier 1” (the San Francisco Bay Area) and “tier 2” (Seattle, New York, Los Angeles, Boston, and Washington, DC). The average wage for a tech employee in the Bay Area is $175,909 per year — the highest in the nation. Seattle is second-highest with an average annual tech salary of $171,432. New York is third with $162,261.
The Recruitment Marketing Revolution of 2022
Yesterday’s Recruitment Marketing strategies will no longer work – the expectations and behaviors of today’s candidates are just too different from those of the past. So, how must Recruitment Marketing evolve to regain its effectiveness? That’s the focus of the TAtech Leadership Summit on Recruitment Marketing. It’s all about identifying the new Best Practices of Recruitment Marketing – those that will yield positive results in 2022 and beyond. Coming up on December 1 at Boston University in downtown Boston, MA USA, this unique one-day event is specifically designed to promote connections among busy corporate and industry leaders. Its program provides a deep dive into the top of the recruiting funnel with plenty of time left over for senior-level peer-to-peer interaction. That makes it the perfect venue for building your brand and generating sales leads. Join us!