It’s the end of the third quarter (wow, this year is *flying* by!), which means there has been a lot of recruitment news being shared. In case you missed them, here is a round-up of some of the recent headlines:
Effective November 1, 2016, Randstad announced the completion of its acquisition of Monster Worldwide for US $429 million. As a result, Monster Worldwide is no longer listed on the New York Stock Exchange. Monster will continue to operate under its own name, as a separate and independent entity. Randstad Group, headquartered in the Netherlands, is one of the largest HR service providers in the world. Randstad generated €19.2 billion in revenue in 2015. Monster offers services in more than 40 countries and will continue offering its suite of digital, mobile, and social solutions. The Monster sale is arguably one of the biggest pieces of recruitment news of the year.
The latest edition of the LinkedIn recruiting trends report indicates that hiring will remain strong in 2017. More than half of small- and medium-sized businesses are planning to add to their payroll. Quality of hire will be a key focus. Employers will look at new hire retention as well as time-to-fill metrics. Employer branding will have an even more important role in the hiring process; it is the #1 area where talent professionals wish they had larger budgets.
The Institute of Supply Management reports that its manufacturing index grew to its highest level in three months. This bit of recruitment news bodes well for the manufacturing sector, which has struggled to grow this year. A slight improvement in the global economy has led to increased demand for U.S. exports. The automotive and aircraft sectors continue to be robust. New orders have slipped slightly, which is not uncommon when a presidential election is approaching.
DHI Group Inc., the parent company for Dice and other job boards, has announced it is exploring strategic alternatives in the wake of the Monster and LinkedIn sales. The board agreed to engage an investment bank to help consider options that will position Dice for optimal growth and shareholder value. DHI also reported a 14.1% dip in third-quarter revenue, representing a net loss of $16.8 million.
LinkedIn has a brand-new global tool, Salary, which collects and analyzes salaries across the globe. The new portal looks at multiple facets of compensation including salary, bonus and equity data. Salary data is immediately encrypted when users enter it, and remains private. LinkedIn hopes to position this as an alternative to Glassdoor. With more than 460 million members, Salary is potentially a game-changing tool especially with the increased transparency around salary information. All LinkedIn members can use Salary. A premium offer allows a user to get data without having to provide salary data; using the free version requires a users to enter their salary details.
What’s the big recruitment news in your part of the world? Share a comment below!