Offer Rejections, US Unemployment Rate, Recruiter Roadmaps, 'Quiet Hiring' - and other recruitment insights

Welcome back to The Talent Tribune, a weekly newsletter containing the latest Talent Acquisition news, insights, and trends. Click subscribe to be notified of future editions!

Catch up on the latest Talent Acquisition insights.

• Every recruiter's been there. That one candidate you were banking on declines your offer. Here is how to move forward after that happens.

• Candidates want environments where they can learn and grow. With managers who are invested in their success. Here is how recruiters can show off their company's focus on Learning & Development.

• Email campaigns can be a very effective way to build pipeline. I like to do them after I've exhausted my InMail outreach. Here is how to use email campaigns in your Talent Acquisition efforts.

Stay informed with the latest Labor Market insights.

• US Unemployment Rate dropped to 3.5%, per the US Bureau of Labor Statistics report released last Friday. This is down from the previous month's rate of 3.6%, and below market expectations of 3.7%. This points to a still-tight and strong labor market, which means the Fed might continue raising interest rates for a while. Notable job gains in Leisure/Hospitality, Health Care, Construction, and Social Assistance.

• Tech was the leading job-cutting industry in 2022, per the Challenger report released last Wednesday. Tech had 97,171 job cuts in 2022, compared to just 12,975 job cuts in 2021. It was its worst year for tech job cuts since 2002. The second worst industry for job cuts this past year was Automotive, with 30,912 cuts.

• Employees who have moved internally (via either a promotion or lateral role change) have a 64% chance of remaining with an organization after 3 years. But employees who haven’t moved internally have only a 45% chance of being around after 3 years, per LinkedIn's State of the Labor Market released last Friday.

Check out the best r/recruiting threads from this past week.

• The r/recruiting community discusses the recruiter job market and shares their thoughts on a remote Sr. Recruiter job posting that had nearly 5,000 applicants. "Good luck to whoever has to sort those CVs" said one top comment.

• A Redditor asks the community what the long-term roadmap looks like for recruiting as a career. A lot of helpful, transparent comments talking about pros, cons, and comp outlines for both corporate and agency ensues.

• A Redditor asks the community for thoughts and advice about going from in-house to agency. One helpful comment mentions to think about the tools that the agency provides, the culture that the agency cultivates, and the compensation split that the agency provides.

The best and most recent talent-related articles from around the web.

• ‘Quiet hiring’ will dominate the U.S. in 2023, says HR expert—and you need to prepare for it by CNBC details quiet hiring, the purpose of which it says is to "prioritize the most crucial business functions at a given time, which could mean temporarily mixing up the roles of current employees".

• Why the 4-Day Workweek is Gathering New Momentum by LinkedIn discusses the new 4-day workweek trend and cites a trial where participating organizations saw their revenue go up nearly 38%, while also experiencing increased hiring, reduced stress and burnout, and greater employee satisfaction. The article also includes tips on a successful transition.

• FTC Proposes Rule to Ban Noncompete Clauses, Which Hurt Workers and Harm Competition from the official US Federal Trade Commission website details the new proposal to ban noncompete clauses, a common constraint for recruiters, especially in the agency space.