I don’t know what your feeds have been looking like this week, but mine have been chock-full of recruitment news. Below are five of the most interesting stories I’ve seen this week:
Massachusetts Bans Salary History
The governor of Massachusetts signed a law on Monday that prohibits employers from asking candidates to supply salary histories. The intent of the law is to reduce pay gaps between men and women. The new law also requires employers to determine the value of a job when setting salaries. Furthermore, employers will no longer be able to stop employees from discussing their salaries. The issue of equal pay is complex, with many factors contributing to the differences. Requiring employers to determine the “value” of a job is likely to be difficult to measure or enforce. The new legislation takes effect in 2018, which gives employers and HR departments some time to adjust their policies and practices. Massachusetts tends to the lead the U.S. in employment law, so watch for other states to follow suit. Stay tuned, this could become interesting.
Robust U.K. Recruitment Market
Nearly 3,000 new recruitment firms were opened in the United Kingdom during the first half of 2016. This represents a 10% increase year-over-year. This is very good recruitment news, especially with the recent uncertainty surrounding Brexit. Employment rates in the UK last year reached their highest numbers since 1971. Employers are struggling to find and retain good talent. The services of skilled professional recruiters are in high demand. That is great for our business and for continued global growth opportunities.
Speaking of Brexit…
The UK referendum to leave the European Union is creating some unique recruitment opportunities. The brand-new Departing for Exiting the European Union is seeking a variety of workforce experts including negotiation experts. There are a large number of UK contractors in other countries who may need to return, as well as a large number of contractors in the UK who may need to return to their home (or other EU) countries as well. There is also a need for skilled professionals who have experience with large-scale mergers and acquisitions. With an expected loss of skilled contractors, the UK may need to strengthen training and education programs for unskilled UK workers, or look to other countries outside of the EU to fill the demand for contractors. Early indications are that the UK will face an even greater talent shortage in the coming year.
India: Online Recruitment Up in July
According to data from Monster, online recruitment activity in India was particularly strong in July. The Monster Employment Index shows a 19% increase year-over-year, with most of the growth in the IT and education sectors. IT is rapidly expanding after a prolonged depression, with 51% growth compared to a year ago. The Index collects data from thirteen cities in India; growth was reported in twelve of them.
People Analytics is Potentially Big Recruitment News
“Big data” is the latest buzzword infiltrating all aspects of business. One of the latest trends to emerge is applying big data practices to hiring. Early indications are that using the latest data analytics techniques can help employers recruit and reward the best personnel. It also has the potential to turn some longstanding HR maxims upside down. Some companies are using big data to help them hone their recruitment efforts in terms of universities or other educational outposts. Others are finding that analytics can reduce bias in the hiring process. In another instance, a company was struggling with attrition and trying to overcome it with bonuses. However, the data showed employees were dissatisfied both with opportunities for development and advancement, as well as low-performing managers. This allowed the company to spend the money differently, with better results and even some cost-savings. Fascinating stuff, which will continue to evolve.
Did I miss anything? What’s the big recruitment news in your part of the world?
