Recruitment & Retention
ZipRecruiter | November 08, 2023
ZipRecruiter's labor market data provides an edge with current insights, diverse industry details, and a blend of surveys and actual data.
The newly launched portal will offer vital labor market insights using exclusive data, including the Job Seeker Confidence Index, New Hires Survey, and monthly economist commentary.
The Economic Research team leverages ZipRecruiter's exclusive data, proprietary research, and government data to unveil dynamic labor market trends, regularly updated on the site.
ZipRecruiter, a prominent online employment marketplace, has introduced its latest initiative, ZipRecruiter-Research.org, a dedicated platform for housing its economic research endeavors.
This newly launched website showcases in-depth commentary and analysis provided by its team of distinguished economists and data scientists, focusing on the most recent labor market data. Apart from this, it also offers valuable insights derived from the company's proprietary marketplace data and quarterly surveys.
The team's effort to collect and study a lot of job data will help them share helpful information on the new platform. This information will make it easier for job seekers, employers, and policymakers to make good choices. Besides, the team will also work hard to find new trends and opportunities for people and businesses.
ZipRecruiter's extensive repository of labor market data offers three distinct advantages compared to publicly accessible sources. Firstly, it furnishes current insights, ensuring the most recent information is available. Secondly, it provides comprehensive details, key takeaways, and noteworthy trends from a diverse array of industries and geographic locations. Lastly, this data is derived from surveys and actual behavioral data from employers and job seekers.
The latest research, now featured on the new site, encompasses the Q3 2023 edition of ZipRecruiter's Survey of New Hires. It indicates that, despite many U.S. residents who began their careers or switched jobs in the past six months finding satisfactory positions relatively quickly, there is an emerging trend of growing job-seeking challenges. This is reflected in significant declines across key survey metrics, such as the proportion of new hires experiencing salary increases, receiving signing bonuses or being actively recruited for their new positions, suggesting a notable shift in worker bargaining power.
The report also highlights several key findings, including a decrease in the percentage of new hires receiving salary increases and signing bonuses. Additionally, it reveals a significant interest in part-time seasonal roles during the winter holidays and a potential rise in 'quiet cutting,' wherein employees are quietly reassigned to less attractive roles to encourage their voluntary departure, which has become more prevalent in 2023. Among those reassigned, a substantial number chose to resign, while others faced termination or layoffs.
ZipRecruiter-Research.org features insights from the Economic Research team, utilizing ZipRecruiter's exclusive data, including job posting volumes, salaries, benefits, and more. It regularly uncovers vital labor market trends. Each quarter, it releases the Job Seeker Confidence Index and the Survey of New Hires, providing valuable insights into job seeker optimism and the experiences of new hires. Additional reports on labor market topics are available, and the team offers daily commentary on important economic indicators while remaining accessible for inquiries, interviews, and data requests.
UKG | November 07, 2023
UKG Labs welcomes a second cohort of startups from four countries, all focused on enhancing business cultures.
Startups Bites, Denim, Hop In Technologies, and Mo were selected for their innovative workforce technologies and commitment to workplace wellbeing.
Despite offering a collaborative platform, UKG Labs poses potential risks, including over-reliance on UKG, intellectual property disputes, and a possible compromise of the startups' original visions.
UKG, a leading HR, payroll, and workforce management solutions provider, has introduced its second cohort of early-stage companies to its global startup ecosystem, UKG Labs. The selected startups, from four different countries, are committed to creating high-performing, people-centric cultures in businesses.
The new entrants include Bites from Israel, Denim from the U.S., Hop In Technologies from Canada, and Mo from the U.K. These companies were chosen for their innovative technologies that add value to the frontline workforce and their commitment to helping people thrive at work.
UKG Labs provides more than just capital to these startups. It offers a platform for co-learning, co-creation, and co-experimentation, allowing startups to gain insights into specific market problems where UKG has expertise. The startups also work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies.
Hugo Sarrazin, Chief Product and Technology Officer at UKG, stated that the goal of UKG Labs is to help businesses become great workplaces by building an ecosystem of technology companies that share its vision. The startup founders have completed a three-month onboarding engagement and will showcase their innovations at the UKG Aspire 2023 conference.
While the UKG Labs initiative offers numerous benefits, it does come with potential drawbacks. The startups involved might become overly reliant on UKG for resources and expertise, which could potentially stifle its independence and creativity. There's also a risk of intellectual property disputes, and the startups' original visions might be compromised to align with UKG's goals. On the brighter side, UKG Labs provides a platform for startups to co-learn, co-create, and co-experiment, fostering innovation and helping businesses become better workplaces. It also allows startups to gain insights into specific market problems where UKG has expertise and work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies. This collaboration ultimately serves to enhance the workplace experience for all.
Oyster | November 07, 2023
Oyster acknowledges the fact that while global employment and distributed hiring offer immense potential, they also present complex challenges, including legal and compliance issues, tax considerations, local competition, and employee expectations. To mitigate these issues, the company has unveiled a comprehensive range of offerings, such as Oyster Embedded, Oyster API, and integrations with industry-leading platforms like Zapier, Personio, and Slack.
With Oyster Embedded, industry partners can integrate global recruitment, payroll, incentives, and employment analytics into their software platforms, enhancing the user experience with customizable web flows and pre-filled data. Additionally, the Oyster API allows partners to incorporate a wide range of global employment features directly into their products.
Oyster Co-Founder and CEO Tony Jamous remarked.
Global employment distributes opportunities equally around the world. When everyone has access to the best jobs, anyone can realize their full potential—and Oyster is driven to overturn the status quo.
[Source – Business Wire]
The Oyster API streamlines integration, enabling partners and customers to connect Oyster with their preferred tools. It empowers partners to embed Oyster in their products and customers to customize it to meet their needs, facilitating efficient data transfers, centralized payroll, and automated processes.
Furthermore, Oyster's Zapier integration, built upon the foundation of the Oyster API, provides customers with a connection to over 5,000 applications. This integration facilitates the efficient transfer of data, such as time off requests and new hire information, from Oyster to applications like MS Teams, Google Sheets, and Asana.
As Oyster Embedded facilitates access to global talent on a broader scale and enhances productivity and efficiency through the Oyster API, introducing new integrations simplifies the process of global employment. With the help of this, people in leadership and HR roles can save time, enhance team productivity, reduce errors, expedite the hiring process, and shift their focus to more impactful tasks.
Notably, the integration with Personio allows companies to synchronize records and time-off data. Besides, the Slack integration provides real-time notifications to managers and teams, facilitating swift actions throughout the employment lifecycle, be it monitoring the onboarding progress of a new hire, approving time off requests, receiving reminders regarding expenses and invoices, or tracking terminations, all within the Slack platform. These new integrations with Slack, Zapier, and Personio complement Oyster's existing array of integrations spanning HRIS, ATS, ERP, expense management, and security platforms.
Oyster is a renowned employment platform that empowers companies to recruit, compensate, and support their international workforce. This platform is a lifeline for growing businesses, enabling them to provide their global team members with a seamless and rewarding employment experience, all while sidestepping the typical challenges and expenses associated with international employment. Its comprehensive services facilitate people-centric hiring on a global scale, ensuring the establishment of dependable, compliant contracts, accurate payroll management, and exceptional local benefits and perks.