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:
“Organizations that have been on pandemic-driven recruitment overdrive the past two years have started to tap the brakes over fears of a looming recession,” SHRM reports. “The reversal of hiring plans happened so fast that instead of just slowing down or freezing hiring and canceling requisitions, employers like Coinbase, Redfin and Twitter are rescinding job offers, a painful tactic generally only seen during an economic crisis.”
“California lawmakers passed Tuesday a law, SB 1162, that would require employers in the state to provide pay ranges when they announce, post, publish or otherwise make known an available job,” according to HR Dive. “Additionally, large employers in the state with 100 or more employees would need to submit a pay data report supplementing existing annual EEO-1 reporting requirements.”
From Inc.: “[W]hen you are young and your target audience is young, you want a young staff, right? How could old people (defined legally as people over 40) possibly bring to your company what you need? At least, that’s the message in this recruiting video from MrBeast.”
“Procter & Gamble Co. agreed to release data on recruitment and retention rates by race and gender by the end of 2024, a shareholder advocacy group said,” Bloomberg reports. “In 2021, women held 40% of executive leadership roles at P&G, while people of African descent made up 9% and Latinos held 10% of such roles, the company said. Like at most US companies, those percentages still lag the share of the under-represented groups in the broader workforce and population.”
“When we think about flexible work, greenwashing may not be the first thing that comes to mind, but it’s more relevant than you might realize,” according to Fortune. “Just as companies have overstated and put a spin on their environmental and sustainability initiatives to appeal to growing consumer preferences for green brands, many are falling into a similar pattern with their flexible work policies and are treading dangerously close to ‘flex-washing.’”
“At a time when employers are frantically searching for candidates to fill open jobs, scammers are taking advantage of those looking for job opportunities on seemingly trustworthy employment websites,” according to The Oregonian. “Mineral, a human resources firm based in Portland, said someone targeted its job applicants earlier this year by pretending to be recruiters for the company on LinkedIn, the online network for building professional relationships.”
“Job openings jumped in July, voluntary quits remain historically elevated and the layoff rate is hovering near record lows,” CNBC reports. “There are nearly two job openings for every unemployed worker. These dynamics amount to ample choices for workers in the job market, giving them negotiating power, according to economists. The labor market has been tilted in their favor since early 2021, but that power may wane as the Federal Reserve raises rates to try to ease inflation.”
“According to Aptitude Research, 72% of companies are rethinking their sourcing efforts this year, and many are starting with their employee referral programs,” writes Madeline Laurano on ERE.net. “What’s more, 62% of organizations reduce time to fill via referrals, as well as see twice the improvement in first-year retention.”
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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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