Rollercoaster of Hiring Costs Revealed in the First 'Talent Market Index'

Recruitics just unveiled their inaugural Talent Market Index Report, and it's full of surprises. "This shift points to the need for adaptable, data-backed hiring strategies in a time of increasing competition for talent," says CEO Adam Stafford .

Here are some standout stats:

• Retail: Talent attraction costs plummeted 56.39% year-over-year and 40.73% month-over-month—seems the post-holiday hiring cool-down is real.
• Hospitality: Despite a 33.8% dip in August, hiring costs have soared a staggering 223.67% over the past year. Travel rebound, anyone?
• Healthcare: Costs surged 11.88% month-over-month and 35.12% year-over-year, highlighting the fierce competition for healthcare professionals.
• IT & Related: A modest 0.53% uptick in August masks a hefty 112.39% annual increase, driven by the booming demand for AI and cybersecurity expertise.

Let's get data-savvy. Check out the full report for a deeper dive.

Mind the Gap: Equal Pay Day Spotlights the 16% Global Divide

Despite it being 2024, women globally still earn 16% less than men—just 84 cents for every dollar a man makes, with Black women earning a mere 64% compared to white men. Leaders from Box , Fiverr , PagerDuty , and Coursera are rolling up their sleeves to change this. Samantha Wessels , President of EMEA at Box, insists, "We hold ourselves accountable for pay parity." These companies are signing pledges, auditing salaries, and promoting flexible learning to bridge the gap.

Want to see how they're turning talk into action? Check out the full story.

Veritone the Latest to Bring AI to Hiring at HR Tech 2024

Veritone is bringing its AI-powered talent acquisition solutions to HR Tech 2024 in Las Vegas, promising to help organizations slash costs and boost hiring efficiency. "We’re excited to showcase our solutions at HR Tech 2024, help TA leaders benchmark their hiring budget and strategy, and demonstrate how AI is shaping the future of data-driven hiring," said Alex Fourlis, general manager of Veritone Hire.

Read the article to see how AI can supercharge your talent acquisition.

The Dangers of Posting Fake Jobs: 4 Reasons to Avoid It

Thinking of posting a fake job listing? You might want to reconsider. According to Michele McGovern , posting non-existent or expired jobs can backfire in more ways than one:

1. False Growth Image: Misleading stakeholders into thinking your company is expanding.
2. False Hope for Employees: Making current staff believe relief is on the way, only to break that trust.
3. Fear Tactics: Creating unnecessary anxiety by implying employees are replaceable.
4. Resume Hoarding: Collecting resumes you likely won’t need, wasting both your time and the candidates'.

Avoid the pitfalls and post only real job opportunities.

Skillvue CEO Talks Scaling Skills-First HR in Latest Startup Spotlight

In this month's Startup Spotlight, Skillvue CEO Nicolo Mazzocchi shares how his Milan-based startup is redefining HR with a skills-first approach. Skillvue's AI models assess soft and hard skills through scalable structured behavioral interviews, helping organizations like Carrefour and Unicredit match candidates and employees to roles with precision.

"Putting skills at the center of HR processes is key to staying competitive," says Mazzocchi, highlighting the urgency for HR leaders to adopt this strategy now.

Read the full interview to learn about the future of skills-first HR.

Why the Restaurant Industry Is Struggling to Find Workers

The U.S. restaurant industry is in the middle of a labor crisis, with 82% of businesses actively hiring but still falling short in recruitment and retention. Staffing remains 3.6% below pre-pandemic levels, with around 450,000 open positions. Despite efforts, high turnover and seasonal demand fluctuations make it hard for restaurants to meet their staffing needs.

Check out the full article to see how leaders can tackle this ongoing challenge.

Healthcare Staffing Market Poised to Hit $89.12 Billion by 2031

The global healthcare staffing market is projected to reach $89.12 billion by 2031, growing at a 7.5% CAGR from 2024, according to Verified Market Research? . With an aging population and rising healthcare demands, the industry is turning to temporary, travel, and per-diem staffing solutions to bridge the growing skills gap.

For healthcare facilities and staffing agencies, the report offers essential insights into trends like AI-driven recruitment and telemedicine's role in staffing needs.

Read the report here.