HR STRATEGY

Where Did 4 Million Workers Go and What Are They Doing?

Merito Group | January 03, 2022

Workforce News
The Great Resignation era of workers are returning to the workforce but not as originally imagined.

"With new priorities and values, Americans are searching for a new job or a new career, which also means becoming an entrepreneur. Companies are shifting their policies to better accommodate hybrid or remote work schedules, as well as bonuses to retain current employees and to hire new ones, Entrepreneurship has always been part of the American spirit. But with so much uncertainty in the past few years, these Covid-preneurs want more control over their future."

- Carolyn Thompson, CEO of talent acquisition and consulting services company Merito Group


Employers, especially those in strained industries such as transportation and finance, are fighting to keep current employees and compete to grab candidates within the same industry who may have quit another company.

The latest report from the Census Bureau's Business Formation Statistics shows that nearly 1.4 million applications have been filed to form new businesses likely to hire employees. Since 2018, new business applications filed per week averaged 67,000, but since June 2021 that number has skyrocketed to 100,000 new business applications per week. Thompson, an entrepreneur herself.

About Merito Group:
A US-based, certified woman owned company, Merito Group is a talent acquisition consulting firm providing excellence in outsourced solutions. The team of experienced Executive Recruiters has thousands of successful placements under their belt because they take the time to get to know you, your company, division, or department's needs as well as our candidates' personal interests and goals through a thorough in-person interview process. Blending corporate needs with candidates' desires make the right match more attainable for all parties.

Spotlight

In his talk at TEDxKoeln Heiko Fischer builds a strong case for turning Human Resources on its head by enabling employees to become resourceful humans instead. TEDxKoeln - "Stories of(f) Balance" brought together passionate listeners and speakers, well able to not only be multiplicators of ideas but also to act on them, in an exchange of moving stories and bold ideas and thus TEDxKoeln joins the global discourse of concerned citizens.


Other News
TALENT MANAGEMENT

Successful Early Stage HR Tech Founder & High Growth Sales Leader Joins PredictiveHire to Lead Expansion into North America

PredictiveHire | January 06, 2022

PredictiveHire, creator of the world's first Smart Interviewer, today announced Nick Bosch is joining the company as its Head of Growth, North America. In this new role Bosch will lead sales, partnerships and customer success within North America. The appointment of Bosch is off the back of a huge year for PredictiveHire, with the Australian-headquartered company growing by 300% in the last 12 months, with 25% of that growth coming from the US and EMEA. They have helped over 1.2million candidates apply for jobs across 47 countries. "There is simply no other interview-product like ours in the US and given the current intense need for talent at all levels there we're truly excited to show what our Smart Interviewer, Phai, is capable of, Bosch was the perfect person to help lead the charge into the US market with his background in HR Tech, as both a co-founder of Reschedge, overseeing its rapid growth leading to the acquisition by HireVue, and having been a key sales leader at Beamery. " -PredictiveHire CEO Barb Hyman Bosch said he signed on to the role as soon as he saw the product and spoke to customers about the impact it was having in their organizations. "This is the simplest yet most sophisticated way to deliver quality candidates to companies - while saving time and money. Companies short of talent don't need to sacrifice quality if they use Phai. I'm looking forward to being part of PredictiveHire transforming how talent decisions are made in the US and Canada." - Bosch Hyman said PredictiveHire addressed three big challenges facing many US companies right now - it creates a fair hiring experience helping companies deliver on Diversity, Equity and Inclusion ; it lives up to the market expectations of a candidate-centric approach; and it solves for the need-for-speed in hiring. About PredictiveHire PredictiveHire's mission is to help companies unlock and engage talent at scale. Aiming to deliver the world's Smartest Interviewer, Phai, powered by the world's largest source of 1st party proprietary text data and advanced Natural Language Processing, we turn simple text conversations into unprecedented talent intelligence enabling organisations. We interrupt hiring bias at scale, get to the right talent fast and give every candidate an experience they love.

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WORKFORCE MANAGEMENT

NewCo Capital Group Pays Special Bonuses having maintained full salaries and benefits packages through the difficult and ongoing pandemic.

NewCo Capital Group, LLC | January 17, 2022

NewCo Capital Group ("NewCo" or the "Company"), a leading provider of services, tools and capital to the SMB ecosystem that fosters growth for small-medium business across the United States, announced it completed paying special bonuses while increasing existing compensation packages to current employees all of whom are greatly appreciated and valued within the organization. Over the last 18 months, no employees were asked to take temporary pay reductions as NewCo Capital Group understands that its employees and contractors are the core competencies that define the exceptionalism for which the organization is known. Unlike some of its lesser counterparts, at no time did NewCo need to furlough any employees during the pandemic. Furthermore, the organization believes that it had a responsibility to assist its employees during this difficult time. The Company believes that its action to pay special bonuses and increase compensation packages are consistent with the organization's values and culture. The organization believes that it had a responsibility to assist its employees during this difficult time. In December 2020, CNBC reported that a MagnifyMoney survey revealed that roughly 1 in 3 full-time workers experienced a pay cut due to the coronavirus pandemic. NewCo believes that not only did most companies not pay any special bonuses to their employees, some providers of capital unfortunately forced pay reductions of at least 10 percent on their already underpaid staff. "We founded NewCo to promote a sustainable-funding solution for small business owners while providing greater opportunities for our employees and contractors alike. Newco's delivery on that promise is consistent with that mission and we're proud to be a citadel during these difficult times. Our values and corporate culture continues to guide us and NewCo will continue to deliver an exceptional product and retain its position and influence as a Preferred Merchant Cash Advance provider within the industry." - Albert Gahfi, CEO of NewCo About NewCo Capital Group, LLC NewCo Capital Group is an Alternative Finance company specializing in MCA Bridge-Capital. As a Preferred Provider, the company is focused on fostering growth within the Small and Midsize Business (SMB) ecosystem. We are passionate about providing fast and easy access to capital for small businesses to help them grow, scale and create jobs. Our technology, proprietary methods and extensive experience is what differentiates us allowing us to maintain our competitive edge and continue to provide value to our Merchants and employees alike.

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RECRUITMENT & RETENTION

PredictiveHire, the largest proprietary database of structured interview responses making it the world's Smartest

PredictiveHire | January 13, 2022

PredictiveHire, creator of the world's first Smart Interviewer, today announced it has hit half a billion words in its proprietary database. This important milestone comes after experiencing 300% growth in the last 12 months, including a strategic partnership with Randstad Sourceright, one of the biggest RPO's in the world. Today, PredictiveHire's global customers - including Qantas Group, Afterpay and the largest private sector employer in Australia, Woolworths - have interviewed over 1.2 million job candidates in over 47 countries for diverse roles such as customer service, retail assistant, sales consultants, carers and healthcare workers, engineers, and graduates applying for entry level roles. The half a billion words have accumulated through PredictiveHire's Smart Interviewer, Phai, conducting an interview every 30 seconds. Combined with the innovation of the R&D team, Phai Labs, this has created the ability to assess suitability for a role in seconds just from a text chat, saving thousands of hours in candidate screening for PredictiveHire's customers. "PredictiveHire is the first and only company in the world to combine the simplicity of a chat conversation, the theory of structured interviews, ethical use of machine learning and the immense power of natural language processing to create a fair and accurate assessment of a candidate with far greater candidate satisfaction than traditional assessment approaches, Hitting half a billion words means we have reached scale to leverage open source algorithms such as BERT built by Google to build our own proprietary model, "interviewBERT" to increase the natural language understanding of an interview response. Imagine interviewing all your candidates in a way that is natural and non-intrusive, truly blind, and empowering." - Predictive Hire CEO, Barb Hyman. About PredictiveHire PredictiveHire's mission is to help companies unlock and engage talent at scale. Using the world's first Smart Interviewer, powered by the world's largest source of 1st party proprietary text data and advanced Natural Language Processing, we turn simple text conversations into unprecedented talent intelligence enabling organisations to interrupt hiring bias at scale, get to the right talent fast and give every candidate an experience they love.

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TALENT MANAGEMENT

Christian Horizons Partners with DailyPay to Ensure Paychecks are Delivered

Christian Horizons | April 04, 2022

Christian Horizons, in service to older adults throughout the Midwest, was proud to partner with DailyPay, a service that provides access to earned pay for associates, while Christian Horizons' payroll vendor abruptly took its system offline to investigate a ransomware attack last December. Through collaborative efforts, Christian Horizons and DailyPay provided paycheck peace of mind to associates of the senior living and older adult services organization throughout the 2021 holiday season. "We're incredibly grateful for this partnership and proud of the collaboration with DailyPay during this unusual situation, It was vital for us to ensure DailyPay was available as a benefit to our associates, especially over the holidays. We took this opportunity to further strengthen vendor partnerships, like ours with DailyPay, to ensure not only that pay continued to be received, but prioritize other business continuity throughout our communities and service lines, We're appreciative of the collaboration with DailyPay as their services helped us mitigate any potential void as our other vendor worked to recover from the event." -Chuck Schmitz, Christian Horizons' chief financial officer. After first learning of their payroll vendor's outage, Christian Horizons' swiftly enabled its business continuity plan which included solutions for alternative employee timekeeping and payroll distribution. Through Christian Horizons' collaboration with DailyPay, associates were able to access to their earned pay during the five weeks it took the payroll vendor to restore normal services. As a faith-based, not-for-profit organization, Christian Horizons is in service to a mission of honoring God by offering a full continuum of care and support services to older adults. Based in St. Louis, Missouri, the organization owns and operates a portfolio of seven life plan campuses and five stand-alone older adult communities offering a mix of independent, assisted and supportive living; memory support; long-term healthcare centers and short-term rehabilitation. The organization also serves older adults through CareLink Home Care and Safe Haven Hospice in central Illinois, and Senior Care Pharmacy Services.

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Spotlight

In his talk at TEDxKoeln Heiko Fischer builds a strong case for turning Human Resources on its head by enabling employees to become resourceful humans instead. TEDxKoeln - "Stories of(f) Balance" brought together passionate listeners and speakers, well able to not only be multiplicators of ideas but also to act on them, in an exchange of moving stories and bold ideas and thus TEDxKoeln joins the global discourse of concerned citizens.

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