Enterprise Insights | May 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
- From Coke to Macy’s, Pay for Typical Worker Takes Big Swings
- Why Companies Are Failing at Reskilling
- M&A Activity Returns to Same Levels as Before the Recession: SIA
Marketplace Milestones: Updates from the Bullhorn Marketplace
- Haley Mixes Your Worlds with Why Your Company Needs a Game of Thrones Strategy Podcast
- CareerBuilder Weighs in on the Current State of the U.S. Job Market
- Avrio Releases a Guide on Using Chatbots for Efficiency
Around the Horn: Ideas and Insights from Bullhorn and RIX
- Understanding Machine Learning and AI: We’re Halfway There
- Take It from the Top: Robin Beattie on Recruiting Candidates in the Digital Age
- Are You Taking Advantage of the Reskilling Opportunity?
Must-Read Articles about the Workforce Ecosystem
From Coke to Macy’s, Pay for Typical Worker Takes Big Swings
“Overall, median pay rose at most of the 282 companies in the S&P 500 that had reported two years of median employee pay through midday April 9, a Wall Street Journal analysis of data from MyLogIQ found. Twice as many companies increased their median-pay figure as lowered it, the Journal found, with 45 companies reporting gains of at least 10% and 33 reporting declines at least that large.” READ MORE
Why Companies Are Failing at Reskilling
“Still, letting go of people whose skills are becoming obsolete remains a stock response to shifts in business strategy in part because shareholders can more readily understand a plan that calls for simultaneous layoffs and hiring rather than a resource-intensive training initiative, workforce planners say. They see it as a cost savings, but in reality fresh talent can also be expensive, and layoffs incur billions of dollars in restructuring costs while creating upheaval for those who lose their livelihoods.” READ MORE
M&A Activity Returns to Same Levels as Before the Recession: SIA
“The analysis found 112 publicly announced transactions in North America last year, a 27% year-over-year increase and a return to prerecession levels. Firms within professional staffing segments were most frequently targeted, led by healthcare and IT staffing firms, which comprised 24% and 15% of deal volumes, respectively. Specialization was a theme in 2018 as activity gravitated toward firms that specialize in either professional, up 18% year over year, or commercial staffing segments, up 38%. There were only five transactions of staffing firms that serve both professional and commercial segments, down slightly from six in 2017.” READ MORE
Updates from the Bullhorn Marketplace
Haley Mixes Your Worlds with Why Your Company Needs a Game of Thrones Strategy Podcast
Haley discusses using a trending topic like Game of Thrones or Avengers to build your staffing firm’s strategy. “Does your staffing firm need a Game of Thrones strategy? (1:16) Is your social media messaging balanced for human readers and algorithms? (7:34) The case study success that resulted in 1 staffing firm increasing applications by 8% WITHOUT increasing their cost per application (17:04).” LISTEN TO PODCAST
CareerBuilder Weighs in on the Current State of the U.S. Job Market
CB weighs in on how jobs are harder to fill and the changes to focus on commute time over pay rates as an example. “In a recent survey, CareerBuilder found that 1/3 of employees are planning to change jobs this year. CareerBuilder CEO Irina Novoselsky discusses the current state of the U.S. labor market and the trends in the recruitment industry.” WATCH VIDEO
Avrio Releases a Guide on Using Chatbots for Efficiency
Avrio wants to focus their efforts on reducing the hours of a recruiter life through automation. “The vast majority of job candidates (66%) are comfortable communicating with chatbots. That percentage is likely to increase once chatbots are deployed at more companies. Candidates will continue to see firsthand just how beneficial chatbots can be for answering initial questions, enhancing their resume and initiating interviews.” READ MORE
Around the Horn:
Ideas and Insights from Bullhorn and RIX
Understanding Machine Learning and AI: We’re Halfway There
“Over the past five years, we’ve seen the concepts of machine learning and artificial intelligence go from pie-in-the-sky science fiction plot devices to mundane and expected components of digital assistants and enterprise productivity software. Far from heralding a robot revolution that seeks to enslave human beings in perpetuity, the rise of machine learning has really just helped us turn on our lights without needing to stand up or figure out our spend tracking through mobile banking.” READ MORE
Take It from the Top: Robin Beattie on Recruiting Candidates in the Digital Age
Robin Beattie, Director at Mortimer Spinks, shares how his firm is embracing diversity and digital communication as a part of their engagement strategy. “We felt for quite some time that you need to feel like a part of the candidate community and that meant going beyond just speaking to them when we had a role or when their contract was coming up for an extension. We realized that we needed to talk to them on many different channels.” LISTEN TO PODCAST
Are You Taking Advantage of the Reskilling Opportunity?
““The talent shortage has become a fact of life for staffing professionals, and it doesn’t appear to be improving anytime soon: 55 percent of surveyed staffing professionals say the shortage is worse now than it was five years ago. The good news is that there’s an opportunity for staffing professionals to do something about it, and change lives in the process. Reskilling—also known as retraining and upskilling—is the process of helping workers turn outmoded skills into ones that are highly applicable to the modern world.” READ MORE
We hope you enjoyed the May 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: firstname.lastname@example.org.
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