Welcome to “The Most Interesting Recruiting Stories of the Week,” a weekly post that features talent acquisition insights and information from around the web to kick off your weekend. Here’s what’s of interest this week:
“Mass layoffs have begun at Twitter, where reports suggest upward of 50% of the social media site’s jobs ― roughly 3,700 ― could be eliminated,” according to the Huffington Post. “Employees received a message Thursday evening notifying them that layoffs were beginning, according to The New York Times. They were told not to come to the office on Friday.” This is a big shakeup at Twitter, which is closed today, and one that directly relates to the article below…
“In just the past year, Microsoft, Facebook and Google parent Alphabet have all seen their headcount rise by upwards of 20%. As Big Tech companies shift from growth to belt tightening, they will have to reckon with just how many employees they’ve hired since the pandemic began,” according to Axios.
“Rather than giving the public an inside glimpse of what employees all over the city were earning, many companies opted to post overly broad salary ranges,” The Gothamist reports. “Salaries for New York City-based tech jobs at Amazon were listed by the company at a range of $88,400-$185,000 per year. International consulting firm Deloitte, one of the city’s largest employers, listed salary ranges between $86,800 and $161,200. Postings on The Wall Street Journal sought reporters and producers with years of experience but listed salary ranges between $40,000-$160,000. Citigroup’s postings, however, took the cake – listing multiple job openings with a range between $0-$2 million.”
“The amount of remote job postings on LinkedIn are falling, according to new data released by the platform,” CNBC reports. “In the U.S. for example, the share of postings with remote roles has declined by 5 percentage points since April, when they peaked at 20% of postings.”
Indeed is implementing a significant change: “a shift from a pay-per-click to a pay-per-application pricing plan,” Suzanne Lucas writes on ERE.net. “Instead of charging based on clicks alone, employers will pay when a job seeker fills out an application. This could be a game-changer for recruiters who often tire of people (like me) who click on many job postings for reasons other than applying for the job.”
“The U.S. economy added 261,000 jobs in October and the unemployment rate rose to 3.7%, according to the latest monthly employment snapshot from the Bureau of Labor Statistics released Friday morning,” CNN reports. “Economists had expected a smaller rise in the unemployment rate, to only 3.6%. Still, it is low by historical standards — September’s 3.5% reading matched a half-century low.”
“The Advancing Skills-Based Hiring Act, introduced by Rep. Elise Stefanik, R-N.Y., would boost skills-based hiring by first ensuring an employer’s pre-employment assessments are compliant with the law,” according to SHRM. “Specifically, the bill would support employers seeking to adopt skills-based hiring practices through technical assistance from the Equal Employment Opportunity Commission (EEOC). The agency would review the validity of employment tests and selection procedures and provide a safe harbor for those employers that participate in the voluntary compliance initiative.”
From HR Dive: “Even as employers struggle to attract and retain top talent, this group remains underemployed, often because of long-standing myths around costs and accommodations associated with making workplaces accessible to employees who are blind.”
Read the most interesting recruiting stories of past weeks here.
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Join the conversation about all things talent acquisition in the ERE Facebook Group. It’s a great venue to gain information, support, and network with fellow peers. We’re talking about some of the stories above, as well as other hot recruiting topics, so come share your own views in the ERE Facebook Group. We’d love to see you there!
Additionally, got questions? Feedback on a story? Or want to pitch a story idea? Get in touch with ERE editor Vadim Liberman at vadim@ere.net.
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