HCM Talent Technology Roundup: September 11, 2020
Judging by the number of deals and new products announced over the last week, it seems that summertime 2020 is over. Here are the highlights.
Employers around the world believe the labor market will take longer to recover from the Covid-19 pandemic than they initially anticipated. According to ManpowerGroup, just 31% of companies expect hiring to return to pre-virus levels before April 2021. That’s down from 54% this past April. Thirteen percent say hiring won’t rebound until next July, and 18% believe there’ll be no return to normal at all.
Another down note: U.S. staffing firms employed an average of 2.1 million temporary and contract workers per week during 2020’s second quarter. That’s the lowest level since the Great Recession, according to the American Staffing Association, and represents a 33.6% drop from Q2 2019. Temporary and contract staffing sales totaled $25.9 billion, down 24.1% from in 2019. However, staffing companies expect revenue to improve during this year’s third quarter, the ASA said.
More than a third of executives, 35%, are unsure about when their companies will reopen their workplace. According to the Conference Board, just 60% have consulted workers about their readiness and comfort with returning, and only 5% say a vaccine would make a significant impact on the timing of return to work.
SilkRoad announced an integration with HireRight. Through the connection, SilkRoad Recruiting and RedCarpet Onboarding clients will be able to initiate background checks and view their status from within the platform.
Limeade launched enhancements to help employers improve listening, facilitate onboarding, connect workers with leadership, and aid in their return-to-work. The features have been incorporated into the company’s Well-Being, Engagement, and Inclusion solutions.
eSkill launched a new skills-testing interface, including a home page that allows direct access to client test centers, easier test creation, an improved dashboard, and management and reporting tools.
Staffing platform Wonolo launched a mobile app to help businesses access their database of temporary workers. The app also works with Wonolo’s onsite clock-in and clock-out technology to provide employers with data on who’s working and how to make the most of a flexible workforce.
CareerBuilder is offering Black-owned SMBs free access to its talent acquisition solutions including job postings, sourcing, targeted-email, and contact tools. The company also said it’s entering a partnership with Chicago’s Project H.O.O.D to connect area employers with candidates. CareerBuilder said 41% of Black-owned businesses have closed because of the Covid-19 pandemic, compared to 17% of white-owned firms.
Separately, CareerBuilder named Leigh-Margaret Stull as chief product officer. Since joining the company’s management team in 2010, she’s led strategy, R&D, and development efforts.
Stone Point Capital will become Bullhorn’s lead investor as the company aims to begin its next phase of growth. Insight Partners and Genstar will remain as investors in the business, and the company’s management team will remain in place. Stone Point is also an investor in a Bullhorn partner, Prism HR.
Bolster, a marketplace for on-demand executive talent, launched from its home base in New York. The platform seeks to match executives and young companies for interim, project-based, or board roles.
Modern Hire announced CognitIOn, a “science” embedded in all of its products to help customers use data to provide a better candidate experience.