Weekly Digest

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Start your week with top news from recruitment world.

‘It’s the beginning of a sea change’: How tech layoffs are transforming the job market

“The balance of power has shifted from job seekers to tech employers,” GeekWire reports. “For quite some time, there have been more available tech jobs than people qualified to fill them, putting engineers and experienced tech workers in positions of strength when looking for work and negotiating pay. It might seem like a lifetime ago, but it was just this year that Amazon, Microsoft and others boosted compensation to keep pace with inflation and retain employees. Compared to that, the past few weeks feel like an alternative reality.”

Average Time to Fill is 41 Days: Dissecting the Findings of iCIMS’ Workforce Report

The year of the Great Reset. That’s how software provider iCIMS has dubbed 2023 in its newly released?Workforce Report. (Having labeled this year as that of the Great Reshuffle and 2021 as that of the Great Resignation, let’s hope that this will be the final great fill-in-the-blank phrase deployed in talent.) The report, which is based on a September survey of 3,000 U.S. job seekers, as well as data from the company’s database of employer and job-seeker activity, reveals numerous insights. Among the top findings:

• 63% of job seekers say a top factor in their decision to accept a job offer is whether the job is remote, hybrid, or in-person
• It takes 41 days to fill an open role
• 2 to 3 is the average number of interviews a candidate goes through before being hired
• 58% of people find it difficult to find open jobs to apply for at their company
• Almost 80%of workers do not feel secure professionally or financially
• 2 out 5 of workers feel they do not have a good work-life balance

HR and IT departments will have to work together to recruit and retain talent

As workplaces return to something that resembles normalcy — whether it's fully remote or hybrid — they're quickly learning that the relationship between IT and HR has become critical to a company's success.?

Whether it's incorporating more AI to streamline systems or revamping their cybersecurity to protect personal devices, the IT sector has seen some of the most growth and investment in the wake of the pandemic, according to the Computing Technology Industry Association, a technology insights nonprofit. That will continue to trend up as?HR?departments?become more reliant on technology.

"The?partnership between IT and HR?is essential when it comes to improving an organization's culture, productivity and overall collaboration," says Julie Simmons, chief information officer at Coca-Cola bottler and distributor, Swire Coca-Cola. "Data helps business leaders be more predictive and improve the health of the employee life cycle by getting ahead of problems we've historically chased behind. Organizations need both parts of the equation to understand that employee experience."