Enterprise Insights | March 2019
Welcome to Enterprise Insights! This monthly digest contains the latest industry news, useful information from our marketplace partners, and ideas and insights from Bullhorn and RIX. Keep reading or click below to scroll down to a topic that catches your eye!
Industry News: Must-Read Articles about the Workforce Ecosystem
- Despite Tight Job Market, Labor Force’s Income Is Squeezed
- Tech Is Splitting the U.S. Work Force in Two
- Majority of Workers Must Undergo On-the-Job Training: BLS
Marketplace Milestones: Updates from the Bullhorn Marketplace
- Marketplace Musings: Act Immediately on Artificial Intelligence
- Using Automation and Text Messaging to Create an Amazing Candidate Experience with TextUs and Herefish
- DaXtra Partners with DocCafe.com and MedJobCafe.com to Place Candidates in Medical Fields, Faster
Around the Horn: Ideas and Insights from Bullhorn and RIX
- The Globalization Opportunity: Recruitment’s Worst-Kept Secret
- The Experts: Joby Myers and Virginia Watson on the Challenges of VMS
- Leading a Team Across 50 Countries: A Q&A with Janette Marx
Industry News:
Must-Read Articles about the Workforce Ecosystem
Despite Tight Job Market, Labor Force’s Income Is Squeezed
Globalization and technology have also played a role. “Employee pay and benefits as a percentage of gross domestic income fell to 52.7% in last year’s third quarter, for the fourth straight quarterly decline, according to data from the Bureau of Economic Analysis. It was as high as 59% in 1970 and 57% in 2001. If workers were commanding as much of domestic income as they did in 2001, they’d have nearly $800 billion more in their pockets, or $5,100 per employed American.” READ MORE
Tech Is Splitting the U.S. Work Force in Two
Automation is hitting low-wage jobs the hardest, providing few chances for advancement. “Automation is splitting the American labor force into two worlds. There is a small island of highly educated professionals making good wages at corporations like Intel or Boeing, which reap hundreds of thousands of dollars in profit per employee. That island sits in the middle of a sea of less educated workers who are stuck at businesses like hotels, restaurants and nursing homes that generate much smaller profits per employee and stay viable primarily by keeping wages low.” READ MORE
Majority of Workers Must Undergo On-the-Job Training: BLS
A case about the importance of reskilling. “On-the-job training was required for 76.8% of all civilian workers in 2018, according to the US Bureau of Labor Statistics’ Occupational Requirements Survey released Thursday. The average length of on-the-job training was 34 days.” READ MORE
Marketplace Milestones:
Updates from the Bullhorn Marketplace
Marketplace Musings: Act Immediately on Artificial Intelligence
Todd Duclos, Bullhorn’s director of enterprise alliances, discusses how to effectively formulate a strategy for artificial intelligence. It’s a great read. “There is a tremendous opportunity to follow the innovator’s way of testing, failing, and learning while these early Machine Learning, Natural Language Processing, and AI capabilities begin to merge and grow into new capabilities and efficiencies. While these technologies are in their infancy, teach them to crawl and babble, so one day they can run and speak for your business.” READ MORE
The power of automated text messaging will allow recruiters to create even stronger relationships with their candidates. “Now, when you hear ‘automated text messaging,’ you may think of the spammy SMS marketing of yore, but that’s not what we’re about. We empower you to create a personalized experience that gives your candidates a 1:1 connection with your recruiters.” READ MORE
DaXtra Partners with DocCafe.com and MedJobCafe.com to Place Candidates in Medical Fields, Faster
The partnership will enable recruiters to save valuable time when sourcing healthcare candidates, which has become increasingly more challenging over the years. “This partnership couples world leading, high accuracy, multilingual resume, job parsing, search and match technology with the most trusted career development sources for those in the healthcare industry.” READ MORE
Around the Horn:
Ideas and Insights from Bullhorn and RIX
The Globalization Opportunity: Recruitment’s Worst-Kept Secret
“The globalization of the recruitment industry is well underway. As businesses look to scale and operate in new geographies, and talent becomes increasingly mobile beyond country borders, it’s important to consider the implications for recruitment businesses. Do the expanded global talent pool and the low barriers to entry for recruitment agencies create new opportunities or do they simply make a crowded field even more competitive?” READ MORE
The Experts: Joby Myers and Virginia Watson on the Challenges of VMS
In this clip, Joby Myers, Regional Director of Operations at ProLink Staffing, and Virginia Watson, Founder of Watson Workforce Solutions, LLC, discuss the challenges and opportunities of leveraging vendor management systems. “I actually, 10 years ago would have rather put my head in the sand than face forward and say, ‘MSP is really going to change the way we do business.’ VMS is the technology that’s driving the change because customers really don’t have access to the data. They need the data. So to your point, we live with it. I think for most staffing firms, it creates an opportunity for them to grow their business, but they have to change their model. They have to change what their recruiters are focused on.” WATCH VIDEO
Leading a Team Across 50 Countries: A Q&A with Janette Marx
Janette Marx is CEO of Airswift, and since 2014 she’s been working with a team of 7,000 people across 50 offices. In this interview, she talks about building an organization that delivers a values-based experience through its service organization and the challenges of doing so on a global scale. “Leading a global team and working across multiple countries and continents makes you aware of all the differences in cultures. Shifting my communication style to ensure I was heard and understood in different locations was critical to driving our initiatives successfully. Some of the key differences between various countries are with employment law, overall work practices, expectations on similar jobs, and acceptable reward systems.” READ MORE
We hope you enjoyed the March edition of Enterprise Insights. Stay tuned for more exciting content next month! In the meantime, please let us know if there are any particular topics you’d like us to cover: enterpriseinsights@bullhorn.com.
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