Welcome to Recruiter Roundup, a monthly look at the most exciting recruiting and HR industry news.
This month, we released the results of the third iteration of the Recruiter Index, our ongoing survey of recruiters and HR/talent acquisition professionals on the front lines of the job market during the COVID-19 crisis.
Results this month were overwhelmingly positive: The number of recruiters who feel that COVID-19 is having a "great effect" on their activities has fallen dramatically, from 42.8 percent in May to 16.3 percent in June. Additionally, workloads are climbing steadily: In May, the average recruiter was working on 15 open jobs; in June, the average recruiter reported working on 20 open roles.
For more on the state of the job market and recruiter confidence today, check out the June 2020 Recruiter Index infographic.
Recruiting Industry Investments / M&A Activity:
Capstone Headwaters announced this month that M&A activity in the human capital management SaaS space reached a record high in Q1 of 2020, although the firm's report on HR and staffing services for Q2 did see M&A activity drop. Given that HR and recruiting will be key drivers of the post-COVID recovery, those organizations that have continued to invest amid the crisis are likely to see a payoff.
- Employee visibility software provider Prodoscore completes Series A funding (source)
- Employee recognition platform Bonusly raises $9 million in Series A funding (source)
- Workhuman is "on course for a $1.2 billion valuation after selling an equity stake to a UK institutional buyer" (source)
- Workforce process management platform Pairin raises $2.1 million in Series A funding (source)
- Workplace insights platform Temporall raises $1 million in seed funding (source)
- Workplace knowledge-integration platform Onna raises $27 million (source)
This month brings definite signs of improvement in the job market. In addition to the positive results of our own Recruiter Index survey, the ASA Staffing Index found that staffing industry employment rose throughout June.
However, the coast is far from clear. Research from recruitment network NPAworldwide found that 92 percent of recruiters have seen client activity plunge below 75 percent of normal levels. There's still some way to go.
- Morneau Shepell's Mental Health Index finds Americans who had their salaries cut have lower mental health scores than those who lost their jobs entirely (source)
- Employers expect to rehire 90 percent of laid-off workers, according to Salary.com (source)
- Glassdoor finds demand for grocery managers, IT specialists surging in response to COVID-19 (source)
- On the flip side, Glassdoor also found that "new grad-related job openings have dropped 68 percent from this time last year" (source)
- A ManpowerGroup survey shows employers intend to return to pre-COVID hiring levels by the end of 2020 (source)
- WorkJam launches health check analysis tool aimed at reducing the spread of COVID-19 among frontline employees (source)
- Eightfold Talent Intelligence Platform gets SAP endorsement, available on SAP App Center (source)
- ServiceNow introduces “Safe Workspace” suite of apps to manage the move back to the office (source)
- Robert Half, Korn Ferry, and Kelly Services take top three spots on Forbes' annual list of top recruiting firms (source)
- SmartRecruiters offers "buyouts" to get companies out of their existing ATS contracts (source)
- Staffmark Group offers DailyPay's on-demand pay benefit to 20,000 employees (source)
- Global Talent Solutions partners with Hyrell to help the franchise industry get back to work (source)
- HireRight and Appriss Insights partner for post-hire arrest-monitoring solution (source)
- Topia introduces Topia One, "the first cloud-based open platform that provides an integrated data standard across global talent mobility" (source)
- Dice launches new Recruiter Profile feature (source)
- Jobvite announces 12 weeks of free education, virtual roundtable discussions, entertainment, and other programming as part of its Summer to Evolve initiative (source)
- LinkedIn updates its offerings for small business hiring (source)
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