The Most Interesting Recruiting Stories of the Week

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:

Tesla Builds Its Own Recruiting Software in Fresh Push to Cut Outside Providers

“Tesla has introduced proprietary software for tracking its job applicants…a move that could lower hiring-related costs as CEO Elon Musk follows through on his goal to reduce the electric vehicle maker’s reliance on external software vendors,” The Information reports. “The move by Tesla marks an unusual step to develop internal talent-related technology. Save for some of the biggest tech players, most companies have tended to pay for software developed by firms including Oracle, SAP and Avature, as Tesla has done.”

Why Companies Are Rescinding Job Offers

“Amid a slowdown in industries such as tech, some firms have begun scaling back their recruitment, either through hiring freezes or layoffs,” according to the BBC. “Accounts proliferate of workers who thought they had their new role secured, only to have it withdrawn at a late stage.”

Typical Job Switcher Got a Pay Raise of Nearly 10%

“The typical worker who changed jobs between April 2021 and March 2022 saw earnings jump by 9.7% from a year earlier, after accounting for inflation, according to the Pew Research Center,” CNBC reports. “Meanwhile, the typical worker who stayed saw wages fall 1.7% after inflation. U.S. Department of Labor data issued Tuesday suggests worker bargaining power may be cooling though it remains strong.”

The Most In-Demand Jobs Right Now

“Since employees whose skills aren’t being well utilized are 10x more likely to look for a new job, upskilling your workforce could help improve retention,” reports LinkedIn, “And if you’re struggling to hire for the most in-demand roles, building out your workforce internally may be the most feasible option.” Check out more in this article, which includes which jobs are most in-demand currently.

Wells Fargo to Restart Updated Diverse Hiring Policy

“Wells Fargo is reinstating its ‘diverse slate’ hiring policy after pausing it for several weeks of review, the bank said Monday,” according to HR Dive. “The pause came amid allegations in May from about a dozen current and former employees that the bank held phony job interviews for non-White and female job-seekers for positions that had already been offered to other candidates.”

NYC Pay Transparency Law May Result in Pay Compression

“New York City’s Wage Transparency Law takes effect Nov. 1, and employers — including businesses outside the city with job ads for remote work — are realizing one of the unintended outcomes of complying with the law may be pay compression,” SHRM reports.

How to Succeed With Boomerang Employees

“New research revealed that nearly a third of American workers and a third of British workers left a job over the past two years, but would consider returning to their old workplace,” according to Fast Company. “Younger workers and males of all ages (in both the U.S. and the U.K.) are contemplating returning to a company they left during the Great Resignation more so than older workers and women of all ages.”

How Honest Should Recruiters Be?

Honesty. Transparency. Authenticity. They’re all popular buzzwords in recruiting. But what do they mean in the moment, in practice when engaging with candidates? As ERE strategy columnist Mary Faulkner explains, honesty can mean different things when examining behaviors of recruiters. Her piece is worth a read to gain insights into a subject that ultimately is determined less by company rules and more by individual actions.

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Stay in Touch

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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