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Explore SolutionsWelcome back to the Recruitment Marketing Roundup! If you’re ready to dive into the future of recruitment and talent acquisition, you’re in the right place. We’ve got an exciting lineup for you today.
First up, don’t miss Hire Innovations on June 12. This virtual event is packed with insights from top experts and hands-on demos of the latest recruitment tech.
We’re also bringing you the latest from Deloitte’s “Women @ Work” report, and the buzz around Ashby’s $30 million funding round. Plus, stay tuned for key industry moves and updates from big names like Fanatics and Blackstone.
Hire Innovations: A Live, Virtual Event on the Future of Recruitment and Talent Acquisition Technology
Hire Innovations is a virtual event scheduled for June 12 from 12 – 2 PM ET, focused on the latest trends and advancements in recruitment and talent acquisition technology. Attendees will gain insights from top practitioners and experts, experience new tools and features firsthand, and participate in interactive demo sessions. The event is designed for recruitment marketers, talent acquisition managers, and HR professionals looking to enhance their strategies and prioritize HR tech investments.
Key Details
- Date and Time: June 12, 12 – 2 PM ET
- Hosted by leading industry experts
- Features insights from practitioners like Linda Lee (Talent Partner, AI Fund) and Deidra Cox (Founder, Career Imagery)
- Interactive demo sessions from event sponsors
- Registration is free!
Deloitte Women @ Work 2024: A Global Outlook
Deloitte’s Women @ Work 2024 report provides a comprehensive view of the current challenges and experiences faced by women in the workplace. The report, based on the views of 5,000 women across 10 countries, highlights issues such as stress, mental health stigma, and the impact of domestic responsibilities. It also explores the state of gender equality in workplaces, experiences of non-inclusive behaviors, and the effect of hybrid work models.
Key Details
- Over half of women report increased stress levels
- Many feel uncomfortable discussing mental health at work
- Significant health issues related to menstruation, menopause, and fertility
- Women bear the majority of childcare and domestic tasks
- Nearly half worry about safety at work, with many experiencing harassment
- Hybrid work experiences have improved but still face challenges
- Few women believe in concrete progress on gender equality
- Cultural issues deter women from leadership roles
CEOs made nearly 200 times what their workers got paid last year
The compensation packages for CEOs running S&P 500 companies soared nearly 13% last year, significantly outpacing wage growth for typical workers. Amid economic resilience and inflation, the median CEO pay rose to $16.3 million, while worker pay increased by 4.1%. The widening pay gap highlights ongoing debates about income inequality and its impact on employee satisfaction.
Key Details
- Median CEO pay increased by 12.6% to $16.3 million
- Worker wages and benefits rose 4.1%
- Half of the companies surveyed have a CEO-to-worker pay ratio of nearly 200:1
- Top CEO earners included Hock Tan of Broadcom and Tim Cook of Apple
- CEO compensation is increasingly tied to performance metrics like stock prices
- The pay gap has widened significantly since the 1980s
- Shareholders generally approve high executive pay packages, with around 90% approval rates
- Female CEOs are making gains, though their numbers remain low
Airbnb CEO Reflects on Fumbled Messaging During Layoffs: ‘You Don’t Fire Members of Your Family’
Airbnb CEO Brian Chesky reflects on his messaging during the 2020 layoffs, admitting he fumbled by expressing familial love in his letter to laid-off employees. While some appreciated his empathy and generous severance packages, Chesky acknowledges that calling the company a family was misleading, especially when facing difficult decisions like layoffs. He has since moved away from the family-based culture but maintains that business relationships can still be warm and supportive.
Key Details
- In 2020, Airbnb laid off 1,900 employees, nearly a quarter of its workforce, due to travel restrictions
- Chesky expressed love for laid-off workers, a sentiment he felt at the time but later realized was awkward and misaligned
- The layoffs included a generous severance package with a year’s worth of health insurance
- Chesky reviewed the names of each employee being let go, aiming for a thorough and considerate approach
- The company has shifted from calling itself a family to acknowledging its true business nature
Investing in the People of Goldman Sachs
Goldman Sachs is emphasizing its culture and apprenticeship model, highlighting the opportunities for employees to learn from experienced professionals and engage with the firm’s leaders. The firm received over a million applications in 2023, showcasing its attractiveness to top talent.
Key Details
- Emphasis on culture and apprenticeship model
- Opportunities to learn from experienced professionals and firm leaders
- Over one million applications in 2023
- Focus on developing diverse and talented teams
- Evolution of performance management framework: Three Conversations at GS
- Support for dynamic careers through internal mobility opportunities
- Comprehensive benefits including mental health support and inclusive benefits
- Modernization of global workplaces for optimal collaboration and performance
Job openings fall to new 3-year low, as the US economy continues to slow
The US labor market shows signs of cooling with job openings dropping to an April low of 8.06 million, the lowest since February 2021. This decline follows a broader economic slowdown amid ongoing inflation and high interest rates. Layoffs remain low, indicating potential for continued net job growth.
Key Details
- Job openings fell to 8.06 million in April, the lowest since February 2021
- Economists had expected 8.36 million job openings
- There are 1.2 available jobs for every job seeker, the lowest ratio since June 2021
- The quits rate held steady at 2.2% for the sixth consecutive month
- New hires slightly increased to 5.64 million, while total quits rose to 3.51 million
- Layoffs decreased to 1.52 million, the lowest since December 2022
- Job growth slowed with 175,000 jobs added in April
Kelly Completes Motion Recruitment Partners Acquisition
Kelly Services has finalized its acquisition of Motion Recruitment Partners (MRP) from private equity firm Littlejohn & Co., marking the largest acquisition in Kelly’s history. The $425 million deal, with an additional potential $60 million earn-out, aims to strengthen Kelly’s staffing and consulting solutions across technology, telecom, government, and RPO sectors. This strategic move is expected to drive significant growth and value creation for Kelly.
Key Details
- The acquisition was funded through debt and available capital, including proceeds from the sale of Kelly’s European staffing operations
- MRP’s capabilities complement Kelly’s strengths in science, engineering, technology, and telecom
- MRP’s brands include Motion Recruitment, Motion Consulting Group, Motion Telco, Tech in Motion, TG Federal, and Sevenstep
- Sevenstep’s RPO and MSP offerings align well with KellyOCG
AI Recruiting Startup Ashby Raises $30 Million
Ashby, a recruiting platform that efficiently scales hiring from startup through enterprise, has raised $30 million in Series C equity financing. This round, led by Lachy Groom with participation from Elad Gil, F-Prime, Y Combinator, and existing customers, follows a significant 6X revenue growth. The funding will support product development and enterprise expansion.
Key Details
- Ashby has raised a total of $70 million to date
- The company employs about 100 people and serves over 1,000 customers
- Key hires include VP of People and Talent Jim Miller, VP of Finance Shane Gallaher, VP of Customer Success Kelsey Peterson, Head of Support Allie Hurley, and Head of EMEA Sales Jack Hanratty
- The product differentiates itself with quality talent team data, AI functionality, and comprehensive recruiter workflows
- Ashby has grown to support over 1,300 customers, including fast-growing startups and large enterprises with 18K+ employees
Melissa Walsh to Lead the Onward Search Sales & Growth Marketing Team
Melissa Walsh has been promoted to VP & Practice Leader, Sales and Growth Marketing at Onward Search. With over a decade of industry experience, Walsh will lead a team dedicated to developing strong revenue and growth marketing strategies for clients. Her leadership is marked by honesty, integrity, and quality, consistently driving client success.
Key Details
- Melissa Walsh previously held leadership roles at Aquent and Randstad USA
- Onward Search’s new practice area focuses on revenue and growth marketing strategies
- CEO Ken Clark expressed confidence in Walsh’s ability to lead the new practice
- Onward Search recently introduced a Digital Accessibility and Experience Design practice, offering staff augmentation and consulting services
- The company participated in the UXPA Boston Conference and IAAP’s GAAD Week, showcasing its commitment to innovative solutions
Employbridge Taps Teri Miller as New CFO
Employbridge, the largest industrial staffing provider in the US, has appointed Teri Miller as CFO effective June 3. With over 30 years of leadership experience in operations, finance, and accounting, Miller is expected to guide Employbridge through a transformative period of growth. Her extensive background includes roles at FirstKey Homes, Cerebus, and Spherion Staffing Group.
Key Details
- Teri Miller previously served as CFO at FirstKey Homes
- She held roles as COO and senior operating executive at Cerebus
- Miller has 15 years of experience in the staffing industry with Spherion Staffing Group
- She succeeds Scott Meyerhoff, who became CFO in June 2022
