Is loyalty dead among Silicon Valley tech talent?

Written by

It is May 28th, in the year 2000. The world is five months into surviving Y2K. While companies in Silicon Valley are struggling to retain its talented engineers, one company stands out. Fresh off a stock meltdown, every sign would point towards the same thing happening at software provider Calico Commerce. But here’s the thing: it didn’t.

Loyalty in Silicon Valley?

As long as Silicon Valley has existed, job hopping has very much been a way of life. But when the New York Times ran a feature article on that day in 2000, it came paired with a remarkable tale of retention. As employees of tech companies job hopped their way to rival companies for 15 to 20% better pay, Calico only saw 15 of 330 workers leave. That comes down to an annual turnover rate of 4.55% the company — more than half of the Silicon Valley standard at the time.

One of the final few traces of Calico Commerce on the internet: their old logo.

The glaring question, which the Times article aims to answer, is simple: how? The answer, as it almost always is when it comes to enabling a sense of loyalty, isn’t money. “While many Silicon Valley companies depend largely on the promise of riches to attract and retain workers, Calico has gone a different route”, journalist Alex Berenson wrote. “The company tries to combine the openness and workplace perks common in Silicon Valley companies with the very uncommon understanding that employees sometimes have lives outside the office.”

It became a simple equation where a level of disclose and communication became vital to building loyalty 

As part of it, CEO Alan Naumann reportedly shared ‘lots of information’ with employees, holding monthly company-wide meetings to discuss where Calico stood relative to its competitors and internal goals. He also hosted monthly group breakfasts for employees whose birthdays had fallen that month and solicited feedback from the group. It became a simple equation where a level of disclose and communication became vital to building loyalty 

‘Loyalty is for chumps’

Calico’s fate was less fortunate. After posting a net loss of $141.3 million, the company was acquired by PeopleSoft in 2001 for a sum of $5 million in cash. As part of the deal, the San Jose-based company filed for bankruptcy. It was an unfortunate turn of events for employees who held stocks in the company they felt they ‘belonged at’. Fred Reichheld, renowned author on loyalty and cultures of successful companies, did see the silver-lining of Calico’s strategy.

“The average point of view is that loyalty is for chumps, that the longer you stay on the job, the stupider you are.”

“Being honest with employees and giving them a chance to grow at their jobs builds loyalty in a way that money cannot”, he told NYT. Reichheld, however, seemed aware of how loyalty was viewed in San Francisco’s most-famous bay. “The average point of view is that loyalty is for chumps, that the longer you stay on the job, the stupider you are. Most business leaders cannot tell you why their people should be loyal. They get it confused with obedience, or just staying there, or fear.”

‘80% of US tech workers are considering looking for another job’

21 years later, and Silicon Valley is still renowned for the incredible technology it develops on a daily basis — and for the notion that employee loyalty rarely exists. According to an anonymous survey from professional social network Blind, 80% of tech workers are considering looking for another job. And more than half have actually applied for one in the past month. Moreover, 74% of tech professionals have communicated with a recruiter and nearly half (49%) have already interviewed with another company in the past month.

According to their widespread survey of developers working in the Netherlands, 30% are looking to move companies. Compared to 80% of tech workers in the US.

While Europe fears a similar fate, the initial numbers to come out of the OfferZen State of the Software Developer Nation survey don’t sound anywhere near as bad as their American counterparts. According to their widespread survey of developers working in the Netherlands, 30% are looking to move companies. Developers cite poor management as the primary reason (52.4%) for wanting to leave their current role. Narrowly followed by a desire for better salary (50.4%) and a ‘poor work-life balance’ (40%).

Silicon Valley’s golden hello’s

For decades, Silicon Valley’s position as the birthplace of high-growth technology companies was unassailable. But with new tech hubs popping up in various locations across the world, ranging from Bengaluru to Tel Aviv, its position on the tech map may look vastly different in years to come. Add on top the notion that the pandemic has driven workers to migrate from America’s superstar cities, for either happiness or money-related reasons.

“Ethical tech non-profit Software Freedom Conservancy, which has six people on staff, pays interview finalists $500 each.”

Wired recently reported on golden hello’s steadily becoming the norm for tech companies. “Ethical tech non-profit Software Freedom Conservancy, which has six people on staff, pays interview finalists $500 each. Cactus Communications, a technology company for the scientific community, offers 5% of a role’s annual compensation as a welcome bonus. At Showhere, it’s a month’s salary upon signing an employment contract.”

When more money still results in the highest turnover rate (13.2%) out of every single business sector, then perhaps something else ought to be done.

As Silicon Valley-based companies will likely keep throwing money at candidates, it’s tough to see where loyalty may come from. While Calico’s retention mission in the early 00s proved hugely successful, their business results may end up defining them for all the wrong reasons. But when more money still results in the highest turnover rate (13.2%) out of every single business sector, then perhaps something else ought to be done.

Read more:

 

The state of unemployment in Europe: outreach to public employment services varies greatly

Written by

Eurostat estimates that 13.267 million men and women were unemployed in the EU, as lately as February 2022. Compared with January 2022, the number of persons unemployed decreased by 221,000 in the EU and by 181,000 in the euro area. Compared with February 2021, unemployment decreased by 2.568 million in the EU. And while the unemployment trends are moving in a positive direction for the continent, labour markets were already quite unfavourable for youth in much of Europe prior to the pandemic.

The economic disconnect

There was a clear disconnect between high economic growth and employment creation in many countries. Meanwhile, on the supply side, a gap continues to persist between outputs of education and training systems and labour market demand. “These structural challenges were reflected in difficult school-to-work transitions, high youth unemployment, high rates of “youth not in employment, education or training” (NEET), and large gender disparities.”

With the outset of problems already well and truly in place, the pandemic has only enhanced these difficulties. “Delayed labour market entry, or entry into lower-quality jobs than would otherwise have been taken, or prolonged or repeated spells of unemployment or inactivity can have long-term implications for young people’s career paths and earning prospects”, the International Labour Organization (ILO) states in its World Employment and Social Outlook Trends 2022 report.

‘Dutch and British youth rarely reach out to employment services’

As many exited the labour force in 2020, the report highlights the challenge Europe will have in bringing youth into the labour market — preferably in decent and productive work. Part of the issues that will need to be solved is the way public employment services (PES) reach out to youth. That outreach varies significantly across European countries — and often remains far lower than the percentage with which adults reach out. 

The outreach of public employment services (PES) to youth varies significantly across countries.

As large numbers of workers exited the labour force in 2020, a key challenge in the region will be to bring youth into the labour market. And into decent and productive work. The outreach of public employment services (PES) to youth varies significantly across countries. Moreover, it remains far lower than to adults in most of them, as proxied by the share of unemployed who contacted PES to find employment between 2020 Q2 and 2020 Q4.

The research illustrates that youth in the Netherlands is the most reluctant to reach out to its employment services to find work.

While public employment service outreach in the UK is the worst of any European country, the research illustrates that youth in the Netherlands is the most reluctant to reach out to its employment services to find work. Unemployed persons — as well as youth — in countries such as Lithuania, Czech Republic and Austria, meanwhile, clearly rely much more its PES to find work.

Read more:

Pinterest launches new flexible work model PinFlex; will allow employees to work from anywhere

Written by

Business strategies have been turned on its head in the past pandemic-riddled years. As companies announced to go remote-first, some quickly backtracked from statements, citing the need for employees to be within HQ’s to best do their jobs. Now, image sharing and social media service Pinterest has announced brand-new work model with which it plans to revolutionise its business for decades to come.

Flexibility with substance

Rather than spending a pre-determined amount of days or hours at home or at the office, Pinterest has built its new work model on flexibility. Hence the name PinFlex. “[Our model] promotes flexibility while prioritising in-person moments to celebrate our culture and drive inspiration”, the company says in an official statement. We know that some work can be performed anywhere, and we encourage employees to work where they choose, whether that’s at home, at a Pinterest office, or another virtual location.”

Pinterest will cover their office expenses through WiFi, mobile and commuter subsidies — and reimburse funs to cover home office expenses.

While it sounds great from the outside looking in, Pinterest offers some real substance to its flexibility plans. In essence, employees can live anywhere Pinterest has entities, and they will cover their office expenses through WiFi, mobile and commuter subsidies. And reimburse funs to cover home office expenses. Employees must come into the office for so-called ‘in-person collaboration moments throughout the year’, but the company will then also cover their travel expenses.

Different strategies in Silicon Valley 

The news comes weeks after Google’s announcement that employees will return to the Bay Area office, after two years working from home. The Mountain View-based company will adopt what is partly a hybrid model — expecting employees to come into the office three days a week. It could be somewhat troublesome for those who have actually taken the pandemic to move away from busy city centers.

Meta will also embrace the remote-work lifestyle — in an attempt to win over the 69% who are reportedly considering leaving their job at the company.

According to John Casey, Google’s vice president of global benefits, approximately 14,000 of the company’s 156,500 full-time employees around the world have transferred to a new location or moved to fully remote work. It is unsure what Google’s new work model will mean for those employees. Meta, meanwhile, will also embrace the remote-work lifestyle — perhaps in an attempt to win over the 69% who are reportedly considering leaving their job at the company.

Read more:

Can AI prevent gender bias?

Written by

Since the infamous Amazon case, the AI discussion in recruitment flares up every once in a while. Can algorithms based on artificial intelligence really prevent prejudice? Or do such algorithms only amplify the existing bias — as Amazon’s case neatly illustrated? New research, to be presented in Seattle in front of the annual conference of The Society for Industrial and Organizational Psychology (SIOP) at the end of April, appears to be yielding a cautiously positive conclusion.

The research, conducted by Phai Labs, the R&D department of Australian AI company PredictiveHire, shows that if you ask candidates to not submit a resume, but only answer 5 work-related questions via text, gender bias is significantly reduced in final selection procedures. “I’m happy to share this work on how we can create a fairer playing field for everyone applying for a job”, said Chief Data Scientist Dr. Buddhi Jayatilleke, who led the research.

5 million answers

Buddhi Jayatilleke

PredictiveHire has previously voiced clear opposition to all the skepticism about A.I. at recruiting. On previous occasions, the company cited research that illustrated that algorithms can actually provide a better experience for a candidate. Because A.I. can collect feedback. Subsequently learn what candidates want. And because algorithms can make your assessment criteria more transparent, can will help candidates understand recruitment choices. Moreover, through the usage of Natural Language Processing you can give every candidate good, personal feedback, according to their research.

Because algorithms can make your assessment criteria more transparent, that will help candidates understand recruitment choices.

With its newest scientific paper, entitled Identifying and Mitigating Gender Bias in Structured Interview Responses, the company addresses a common objection to algorithms: gender neutrality. “We’re in an incredibly privileged position at PredictiveHire to be able to do research like this given our large dataset of over 5 million unstructured answers to questions in job interviews – all without any identifying information.”

‘Don’t apply anonymously’

Currently, the company’s proprietary set of clean data via written responses of job candidates is at 630 million words. It is expected to reach 1 billion by mid-year, making it the largest dataset of its kind. The study shows that when assessments are made using only interview data and using a set of well-defined scoring dimension, even when responses carry higher levels of gender information, there is still a significant reduction in gender bias.

The total number adds up to less than 0.1 in terms of a recorded effect size on gender when scoring algorithms developed by PredictiveHire are used.

According to PredictiveHire, this works better than so-called ‘classic’ methods to combat bias, such as applying anonymously. “Despite the popularity of “blind” resume screening, it’s long been established that gender can  be determined from the resume data and still leads to biased hiring by either interviewers or AI”, the report adds. The total number adds up to less than 0.1 in terms of a recorded effect size on gender when scoring algorithms developed by PredictiveHire are used, the report states.

Read more:

The state of internal hiring: why talent leaders must prioritise internal mobility

Written by

At the risk of sounding like a broken record: a lot has changed in labour market spheres over the past two years. It has led to a record-number of US workers quitting their jobs. And similar trends have followed in Europe, albeit in shifts, not quits. While most organisations across several sectors are indeed struggling to hire enough personnel, perhaps room for improvement lies within those who are technically already on board: internal hires.

According to Jobvite’s annual Job Seeker Nation Report among thousands of US workers, the state of internal mobility (and hiring) is, by all means, subpar. 45% of surveyed workers are actively looking for a new job or plan to within the next year, as per the report. But of those actively seeking new jobs, 54% have not looked internally at their current company for a new position.

Is internal hiring harder than it should be?

Just two years ago, according to the 2020 Recruiter Nation Report, 35% of recruiters ranked internal hires as the top-rated source for hiring. “The drastic changes that have occurred since this time show the considerable differences that now exist for finding and hiring top talent”, the report adds. Part of the problem, indeed, is the way jobs are marketed to current employees, as SmartRecruiters found in their 2021 edition of its State of Internal Recruiting Report.

38% admitted that they don’t actively market open job opportunities to current employees.

They were able to come to a simple conclusion: internal hiring is way harder than it should be. 49% of their respondents, build up out of talent acquisition and HR professionals, said that it is easier for employees to get jobs than external candidates. Moreover, 38% admitted that they don’t actively market open job opportunities to current employees, while only 28% did so selectively, depending on the hiring manager or role.

‘In a worst-case scenario, they still outperform job boards’

Through dedicated employee jobs portals, periodic internal job alerts or using channels such as Slack or Sharepoint, employees simply need an opportunity to become aware of open positions. “In a worst-case scenario, these strategies are likely to outperform any external job board anywhere in the world”, SmartRecruiters report added.

Read more:

The three steps to make learning part of a recruitment strategy

Written by

The end of the CV has been announced many times before and there are indeed organizations that no longer ask for an overview of diplomas and work experience. They focus on the skills, mindset and potential of candidates. Nevertheless, the curriculum vitae remains the most important means for many HR departments to make an initial selection of candidates. But now that the demand for talent continues to increase and the talent pool is drying up, the question is how long this way of working can be maintained.

The time seems ripe to make learning part of the recruitment strategy and to focus on a candidate’s future potential, instead of the proven past.

Findings from various labour market experts show that employers are often quite critical in their search for employees. In particular, lack of skills or ageing are reasons not to invite available candidates. Even though these potential employees would like to continue to develop, self-employment is one of the requirements that plays a major role in the search for a new job. The time seems therefore ripe to make learning part of the recruitment strategy and to focus on a candidate’s future potential, instead of the proven past. But how do you ensure an ideal interaction between recruitment and learning? The following three steps can help.

1. Provide training and education opportunities

It is important for employees to have access to learning content. According to research by PwC, 77% of respondents indicate that they want to learn new skills or up-skill to be better prepared for the future of work. Organisations that provide these training and education opportunities are one step ahead of other employers.

If you want to remain attractive as an employer for the future generation of employees, you cannot avoid offering training and development opportunities.

In particular, the younger generations attach great value to the opportunity to further develop themselves based on their personal interests. In fact, personal development is number one when it comes to what millennials find truly important in their work. If you want to remain attractive as an employer for the future generation of employees, you cannot avoid offering training and development opportunities.

2. Provide internal career opportunities

But offering training alone is not enough, there must also be opportunities to put what has been learned into practice. By offering internal growth opportunities, potential talent is offered perspectives to develop further within the organisation. There is more to achieve than the maturity of the current position.

By having a clear focus on internal mobility, employee retention will also remain higher. Perspective is offered within the organisation that extends beyond the current position. A big advantage, because the youngest generation of employees is known for always looking outward: a job for life no longer exists and you gain personal growth by changing jobs and companies. With the right perspective, that is no longer necessary.

3. Make skills leading in recruitment

When the above two steps have been taken, the third step is almost done. But to become completely skills-driven, it is necessary to move away from an organisational structure in which career paths are set in stone. Think, for example, of the development from junior employee via employee to junior manager and senior manager. An organisation in which the division of roles is based on interests, expertise and availability provides a workplace with many different opportunities to gain experience and new skills.

Teams are no longer composed of the usual suspects with a specific job description. But employees with talent and appropriate interests are linked to projects to form the best team.

Companies need a different mindset when they start focusing on skills. For example, teams are no longer composed of the usual suspects with a specific job description. But employees with talent and appropriate interests are linked to projects to form the best team. By placing skills and competences at the heart of a learning & development strategy. And by extension in the recruitment approach. Instead of focusing on obtaining certain diplomas or certificates, the individual development of employees becomes the guideline for success.

Want to learn more?

This article was written in collaboration with Cornerstone. Would you like to know more about how learning can become part of a successful recruitment strategy? Download Cornerstone’s ‘Five Ways to Attract the Best Talent e-book’.

Why a lack of screening procedures for part-time jobs puts companies at risk

Written by

Sterling’s survey among Dutch HR professionals shows that 63% of HR professionals perform a screening in the context of a full-time position. But when it comes to applying for a part-time positions, that percentage drops down to a mere 37%. That in itself is noteworthy, because whether the position is part-time or not that person has the same access to the systems and information as any of the full-time staff.

“Screening should be important whether an employee is working full-time or part-time.”

The lack of screening checks for part-time jobs puts companies at risk, warns Michel Franken, Regional Director at Sterling. “It is quite strange that companies make such a distinction between full-time and part-time colleagues. Because they often have access to the same things. The potential consequences of incorrect recruitment and screening are, therefore, just as damaging in both cases. Screening should be important whether an employee is working full-time or part-time.”

Safety first

The majority of companies (60%) carry out the screenings of their new employees for a simple reason: they want to be in accordance with legislation and regulations. However, 77% cite the safety of colleagues and customers, making it an even more important factor. 51% cite the prevention of unnecessary recruitment costs for a bad hire. While 40% cite the possible damage to reputation caused by a bad hire.

“In addition to being able to trust a new colleague with sensitive data or a safe key, you also have to protect your current colleagues and customers”, Franken says. “By performing a standard screening, you as an HR department show that you do not only measure safety in euros. Our survey shows that this is also the most important reason.”

No time to save time

More than half of the HR professionals Sterling spoke to named a ‘lack of time’ as the reason why no background research is conducted. After all, in today’s tight job market, HR departments are spending every available minute on finding talent. That is why they regularly move ahead with  an application processes sans screening. A supposed invasion of privacy on the candidate’s side is also part of the reasons given by HR professionals, even though organisations are often mandated to do so.

“A screening does not have to take months: some checks can be done within 24 hours.”

“The notion that a screening takes a lot of time is an error of judgment”, says Franken. “A screening does not have to take months. Some checks can be done within 24 hours. That process wil end up saving you time you otherwise would have spent on doing it yourself. In addition, compare it with the process of hiring, guiding and saying goodbye to an unchecked and unsuitable candidate; that will ultimately cost a lot more time and money.”

Want to keep reading?

Stay up-to-date with the latest developments in the field of total talent acquisition with the ToTalent newsletter. Every month you will receive the latest news from the profession in your mailbox. Click here to sign up.

 

Malt eyes European dominance; acquires consultant marketplace Comatch

Written by

If you weren’t quite aware: 2022 will be or is the year of the freelancer. According to Randstad Sourceright’s 2022 Talent Trends report, a total of 71% of human capital and C-Suite leaders plan to shift roles to contingent, project or contract. Part of it is the COVID-19 related uncertainty, which has subsequently led talent leaders to reconsider their strategies.

Flexibility looks likely to be the common denominator in the way organisations will aim to attract and engage talent. 86% of leaders see policies, such as flex schedules and remote working as the way to go. “These companies realise that people, more than ever, want more control over their lives”, the report states. “Especially when it comes to work and how they spend a large part of their day.”

Malt’s European mission

Based in a country where the total number of self-employed workers is increasingly rapidly, French start-up Malt quite literally lives and breathes freelancers. Since being founded in 2013, the company has excelled at amassing a community of freelancers. And pairing them with businesses for suitable jobs. It is estimated that Malt has approximately 340,000 freelancers and 30,000 businesses signed up to its community.

In recent years, Malt has expanded into the Spanish, Belgian, Dutch, Swiss, Italian, British, Austrian, Portuguese and German markets.

Initially starting in the French market, Malt has now made it its mission to spread the freelancer glory to other European nations. After an €80m investment in June 2021, the company has managed to accelerate its growth. In recent years, Malt has expanded into the Spanish, Belgian, Dutch, Swiss, Italian, British, Austrian, Portuguese and German markets. With the acquisition of Germany-based rivalling marketplace Comatch, Malt’s position in the latter market has grown once more.

‘An undisputed leading marketplace’

Comatch, Europe’s leading consulting marketplace, has built a strong community of more than 15,000 top independent management consultants and industry experts, as per Malt’s press release. Since launching, the consulting marketplace with headquarters in Berlin has grown across nine markets with 130 full-time employees. “Comatch is a champion in the field of business consulting marketplaces”, said Vincent Huguet, Malt CEO. “We are eager and excited to bring our two worlds of high-skilled freelancers together.”

Jan Schächtele, Vincent Huguet, Christoph Hardt and Alexandre Fretti. Source: Malt

“We believe in a future where technology and business consulting continue to grow closer together.”

Combined, the two companies work with 80% of the CAC-40 and DAX-40 companies and together will build the largest European client network with more than 1,000 enterprises. “We believe in a future where technology and business consulting continue to grow closer together”, said Dr. Christoph Hardt, the Co-Founder and MD of Comatch. “Which is why we are very excited to jointly build Europe’s undisputed leading marketplace where organisations can find the best independent professionals for any possible project.”

After 0.7% market share, StepStone’s departure from France comes as little surprise

Written by

Every year, Rotterdam-based labour market data analysts Intelligence Group delves into the most-used job boards by active job seekers. For France, the 2020 rankings see Indeed rank supreme with a 57.7% share. It is closely followed by LinkedIn (38.9%) and Monster (16.4%). Remarkably, StepStone.fr only ranked 28th out of 58 job boards, with a market share of 0.7%. That is quite the contrast to the German rankings, where StepStone.de trails only Indeed, with a market share of 39.4%.

Source: Intelligence Group

StepStone.fr only ranked 28th out of 58 job boards, with a market share of 0.7%, compared to 39.4% in Germany for StepStone.de.

Originally founded as Jobshop approximately 26 years ago in 1996, StepStone became commonly known as one of the first job board pioneers in Europe. Founded out of Oslo, the company managed to create quite a bit of traction in its home-country Norway. Then, in 2009, StepStone was acquired by Axel Springer SE, one of the world’s largest media companies.

Stepstone says au revoir

While StepStone still remains hugely successful in Germany, where it is currently based, the French market proved to be a struggle — leading to the German-based online staffing platform to announce its departure. On the Chad & Cheese Podcast, Tim Pröhm, VP at the KellyX Digital Innovation Lab responded to StepStone’s au revoir. “I think it’s a smart move”, he said. “And as every kind of non-French person can tell you, France, a very, very specific market. Very focused on kind of specific local rules, regulations, legislation.”

“If you’re not really generating enough traction, then what’s the point of staying there?”

“It’s always a bit tricky to do business there”, Pröhm continued. “But I think the most important thing from my point of view is if you’re late to the game, if you’re not really generating enough traction, then what’s the point of staying there? You have Indeed, who are very dominant in France. So the question is always does it make sense to spend money on keeping your French operation up? Or kind of do you do it like GE used to do it under Jack Welch many, many years ago where he said: ‘Hey, unless I’m like first or second in my market, I’m going to go and spend my money elsewhere’.”

Read more:

Talent.com raises €110 million; looks to expand European branch

Written by

Originally founded in 2011 by Benjamin Philion, Lucas Martinez and Maxime Droux under the name Neuvoo, Canada-headquartered Talent.com has soared to new highs in recent years. The job search engine, which currently serves 78 countries in 29 different languages, has secured approximately €110M ($120M) in its Series B funding round.

Its proprietary technology matches job seekers with job opportunities.

Talent.com currently employs 400 people globally. Its proprietary technology matches job seekers with job opportunities while its pay-per-click model helps recruiters adjust their job advertising campaigns based on performance. Similar to the likes of Monster and Indeed, it offers a search page with displays millions of jobs around the world.

‘New exciting milestone’

“We’re thrilled to have reached this exciting milestone in the life of our company”, said co-founder and co-CEO Maxime Droux in its press statement. “With this new investment, we look forward to further strengthening our position as a leading global next-generation job search platform by hiring top talent and increasing our investment in product and R&D.”

Its Series B funding was led by Inovia Capital, with the continued participation of Caisse de dépôt et placement du Québec (CDPQ). In its second funding round, the company added investments from Climb Ventures, Business Development Center – BDC, Investissement Québec, Fondaction, and HarbourVest Partners.  

‘A true job-seeker-centric platform’

“The race for talent has only been accentuated by the significant challenges that businesses are facing right now”, said Chris Arsenault, Partner at Inovia Capital, who led the funding round. “Talent.com has rapidly grown to become one of the largest and most international platforms for employers to source and recruit. This partnership is prompting a new phase of growth as they launch a suite of value-added products to become a true job-seeker-centric platform.”

https://youtu.be/GVB8tjsix8I

“It is well positioned to accelerate its impressive expansion through its ability to adapt to the changing market and technology.”

“Talent.com continues to be a disrupter of the very large global recruiting industry and is well positioned to accelerate its impressive expansion through its ability to adapt to the changing market and technology”, says Alexandre Synnett, Executive Vice-President and Chief Technology Officer at CDPQ. “Since our first investment in 2019, the company has tripled in size, and we are committed in supporting its future growth.”

Positive implications for the Benelux

As every investment has its own ripple-effect, the Benelux department would also be one of its beneficiaries. After growing to 5 full-time employees in the past two years, Ayver Severien, Talent.com’s Director Benelux, expects that amount to triple in 2022 alone. “We managed to grow our revenue by 114 between 2020 and 2021”, he said on LinkedIn. “Partly by attracting the likes of Randstad and Takeaway.”

UK Government launches pay transparency pilot to break down barriers for women

Written by

Pay transparency is a hot topic. reed.co.uk research recently found that four in five jobseekers (78%) are less likely apply for jobs without a mention of salary. While jobseekers state salary as being the number one reason to apply for a job, almost two-thirds (62%) of hiring managers believe a lack of salary transparency on job ads has no negative impact on applications. Meanwhile, less than half (46%) of employers have a salary transparency policy.

The gender wage gap can disappear

To understand the gender wage gap, you only have to look at the numbers. Currently, a woman earns approximately $0.80 cents for every $1 earned by a man, according to research by Payscale. A study by the National Women’s Law Center showed that women stand to lose $406,760 over the course of a 40-year career at the uncontrolled wage gap of $0.80 .

The gender wage gap completely disappears when analysed against against pay transparency.

But according to payscale, that gender wage gap completely disappears when analysed against against pay transparency. Women who agreed that pay was transparent at their organisation earn between $1 and $1.01 on average for every $1 a man earns.

UK Government to pilot pay transparency

The UK government is now leading the way with a pilot scheme. As part of it, participating employers list salary details on job adverts and stop asking about salary history during recruitment. But the buck doesn’t stop there. The government will also launch a returners programme to help women back into STEM careers.

“This new programme will help organisations to recruit and retain talented staff who are often overlooked because of a gap on their CV.”

“Research and employee feedback shows that returning to STEM roles after taking time out to care for loved ones can present significant challenges”, the statement adds. “This new programme will help organisations to recruit and retain talented staff who are often overlooked because of a gap on their CV. By providing training, development and employment support to those who have taken time out for caring.”

‘Wage transparency provides an initial incentive to join an organisation’

Jerome Ternynck, CEO of talent acquisition software provider SmartRecruiters sees the clear benefits of wage transparency. “Wage transparency provides an initial incentive to join an organisation and sets the precedent for the working culture a candidate is applying for”, he told ToTalent in an interview. “Amidst The Great Resignation, company leaders are working to improve company culture to promote employee retention.”

Jerome Ternynck

“The initiative can help to close the gender pay gap and empower women to obtain a similar salary to their male counterparts.”

Through including salary range, applicants get a clear view from the offset as to what to expect from a prospective employer. “This reduces the risk of a candidate pursuing a role to then be disappointed due to a salary that didn’t meet their expectations, wasting both candidate and recruiter time”, he said. Additionally, the initiative can help to close the gender pay gap and empower women to obtain a similar salary to their male counterparts.”

“Salary transparency enables a positive candidate experience and increases an organisation’s ability to attract and retain top talent.”

Finally, Ternynck sees it can also reduce unconscious bias. “The idea forces organisations to offer equal pay to employees with the same levels of experience regardless of gender, ethnicity, or race”, he concluded. “Salary transparency enables a positive candidate experience and increases an organisation’s ability to attract and retain top talent on its journey to building long-term hiring success.”

HR-tech start-up SkillsCV raises €2 million

Written by

In its first round of funding, Rotterdam-based SkillsCV has raised €2 million from several investors. In addition to the initial investors, Intelligence Group and the founders of Westerduin Temporary Employment Agency, other investors include businesses in the employment mediation sector, tech entrepreneurs and the 4impact venture capital fund. The investment will be used to launch the app, integrate with governments, municipalities, schools and recruiters and expand their team.

All vacancies from employers and intermediaries are converted into a set of skills and educational programmes.

In what should look like an increasingly skills-based labour market, SkillsCV is the first practical labour market application in the field of skills matching in relation to finding jobs and internships. All vacancies from employers and intermediaries are converted into a set of skills and educational programmes. Candidates’ experiences are also converted into skills to create a personal SkillsCV.

‘A more fair and transparent labour market’

The personal SkillsCVs are then matched with all available vacancies in the Netherlands. Each CV is constructed in the same way, thus eliminating bias. All applications and matches are anonymous by default so that the match proceeds purely skills-based. The technology is combined with various requirements that fit labour market issues similar to those of the Roaring Twenties, such as privacy first, flexibility, one-click application, candidate centre stage and transparency.

SkillsCV should result in a widely accessible labour market with reduced bias and inequality for job seekers.

That, combined with access to all (side) jobs and internships in the Netherlands, should result in a widely accessible labour market with reduced bias and inequality for job seekers. “We are very pleased with the considerable enthusiasm evident among investors for creating a more fair and transparent labour market. Together with highly committed shareholders, this is our lottery ticket to make our dream come true”, says Maarten Westerduin, CEO of SkillsCV.

“The traditional way of selection based on background, education and experience is very limitative and creates unequal opportunities.”

Pauline Wink, partner at 4impact: “Investing in equal opportunities and inclusive employment are important investment themes for 4impact. The traditional way of selection based on background, education and experience is very limitative and creates unequal opportunities. SkillsCV is about change. We are very impressed by the experienced and entrepreneurial team, their vision, ambition and approach and look forward to our collaboration.”

Launch

SkillsCV will have its soft launch in two regions in the Netherlands on 4 April together with 16 (medium) sized employment agencies accounting for about 1 out of 7 vacancies in the Netherlands. After the summer, the national launch will take place, with the company aiming to reach half a million users within a year. Apart from employment mediators, SkillsCV also focuses on governments, educational institutions (Regional Training Centres and UAS) and municipalities.

After the summer, the national launch will take place, with the company aiming to reach half a million users within a year

By unlocking all jobs, internships, side jobs and voluntary work in the Netherlands in an equal and easy way, every job/side-job seeker is given an equal starting point on the labour market. Skills are the language used for matching, resulting in the users finding ‘a job that is exactly what they are’.