🔧 Reskill or risk it

👋 Welcome back, TAs! Who says you can't go home again? Well, we think it’s fine — as long as “home” is Google and they are willing to write you a check with 9+ zeros in it …

The tech titan shelled out a whopping $2.7 billion this week to essentially rehire one of their former AI pioneers, Noam Shazeer. It's like Silicon Valley’s version of "The One That Got Away," but with a multi-billion dollar price tag. Shazeer co-authored the white-paper that kickstarted the AI boom and left Google in 2021 after disagreements over releasing his chatbot. Now he's back, helping lead the development of Google's next-gen AI, Gemini.

The deal, structured as a technology licensing agreement with Shazeer's startup Character.AI, proves just the lengths tech companies will go to secure top talent in the booming AI industry.

Questions? Comments? Billion-dollar job offers for the author of this newsletter? Reply to this email, we’d love to hear from you.

— Team RecruitmentMarketing.com ✨ 

Today’s edition is a 4-minute read. Here’s what to expect👇

🗞️ WEF releases new future of work tips
🌎️ Gig economy stays strong
💰️ Mercor raises $30M
💻 TA roles at SpaceX, HP
💼 Layoffs hit WaPo, Disney
📆 Can't miss upcoming industry events

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It's time to get steady, because the global job market is in for a major shake-up, according to a new white paper released this week by the World Economic Forum. The report details how to prepare for the prediction that by 2027, a whopping 23% of jobs will change, while 83 million existing roles will fade into oblivion. We’re getting ready not for just a reshuffling, but rather a full-blown workforce revolution.

🖼️ The big picture.
The Forum's Future of Jobs report, released last year, painted a picture of a labor market in flux. Driven by technological advancements (hello, AI!), economic shifts, and the ongoing green transition, changes in the labor market aren’t just inevitable—they’re already happening. Now, we’re focused on the real challenge: Ensuring workers aren't left behind in this brave new world of work.

🧮 By the numbers:

• 23% of jobs will change by 2027

• 69 million new job roles anticipated

• 83 million existing job roles expected to be displaced

• Net loss of 14 million jobs

• 44% of job skills required will change within 5 years

• 25% of jobs will transform in just two years

❗ Why this matters.
With nearly 2 billion people working in informal settings, many are especially vulnerable to these changes. Without proper support, we're potentially looking at a widening skills gap of epic proportions. The future of work will require workers to juggle – balancing new skills, shifting roles, and navigating industries as they become more volatile.

👔 What this means for job seekers.
Well, it's time to embrace the "learn or churn" mentality. The white paper emphasizes the need for continuous learning and adaptability in order to remain a competitive candidate in an unsteady job market. A hot tip? Keep an eye on business services, digital jobs, and healthcare fields—they're showing rapid growth across countries of all income levels. And if you're not already AI-fluent, it might be time to befriend ChatGPT.

💼 What this means for TAs.
For recruiters, the job just got more interesting (and challenging). Employers will need to pivot towards skills-based hiring, honing their ability to spot transferable talents, the report says. They should expect to collaborate closely with L&D teams, crafting upskilling pathways while staying ahead of industry trends. Oh, and don't forget to embrace AI tools – they're your new right hand in improving employee-employer matches and predicting future skill needs.

🔮 The road ahead.
The Forum lays out a plan for a smooth transition. It calls for "targeted reskilling and upskilling efforts, multistakeholder collaboration and effective worker safety nets." The endgame? Transforming this potential crisis into a springboard for economic growth and individual career advancement. It's a tall order, but with concerted effort, it's definitely within reach.

🗣️ From the experts.
The future of work is here, and we all have a decision make ahead of us, Connor Grennan, Chief AI Architect said in a LinkedIn post. "You have a choice. You can be the person that hopes your job doesn't change, or you can get fluent in generative AI now. It is your single best bet to staying ahead as the jobs change around us."

📥️ Read more from The World Economic Forum

NUMBERS

Numbers That’ll Make You Think

• $1.4 trillion — The estimated amount of revenue U.S. contingent workers generated in 2023, according to a new report on the gig economy. (Staffing Industry)

• $22 — The new average base wage per hour for Amazon's front-line team members … which we’d note is just a little over the cost of our monthly Prime membership. (Amazon)

• 1/3 — The fraction of workers who believe AI will lead to job displacement in the next five years. (Staffing Industry)

• 500 — The number of workers, mostly Black employees, laid off after the Boar's Head plant shutdown in rural Virginia. A stark reminder that when big employers leave town, they take more than just jobs with them. (WSJ)

• 22 minutes — The average commute time in Columbus, OH, ranked the best city for commuters. Just long enough for a podcast intro. (WSJ)

• 30,000 — The number of Amazon employees who joined a Slack channel called “remote advocacy,” expressing displeasure with CEO Andy Jassy’s announcement of a mandatory five-day-per-week RTO policy. (Fortune)

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INDUSTRY INTEL

M&A Deals, Industry Moves, & Other Things To Know

• AI job marketplace Mercor secured a cool $30 million in funding, upping its valuation to a whopping $250 million. (HR Tech Feed)

• HR software platform Rippling announced a new product that allows companies to use AI to evaluate employee performance. (Bloomberg)

• A new report details how Chinese graduates are scaling back their career ambitions under a shrinking job market. (South China Morning Post)

• Aviation giant Boeing said it has made its “best and final offer” to its striking workers, giving them until Friday to accept the deal. (NYT)

• Staffing giant Randstad US is playing matchmaker with its new two-sided marketplace job platform app. Swipe right for employment, left for more ramen. (Staffing Industry)

• HR tech company Enboarder has found their new onboarding captain with Dan Finnigan joining as its new CEO. (Business Wire)

• A new report by the WSJ details how Amazon is struggling with its in-house AI development (in a request for comment from our newsletter, Alexa stated “I’m sorry, I didn’t quite get that”). (WSJ)

• Marketing expert Rodney Hess writes about the importance of personalization in employer branding and recruitment marketing. (RecruitmentMarketing.com)

OPEN ROLES

Jobs You Might Want (For Yourself!)

• Staffing firm Onward Search is hiring a VP, Education Staffing Division based remote, with headquarters in Norwalk, CT

• Insurance provider Progressive Insurance is hiring an Associate Manager for Recruitment Marketing based remote, with headquarters in Mayfield, OH

• Electronics retailer Best Buy is hiring a Senior Manager for Market Human Resources based remote, with headquarters in Aurora, CO

• Tech giant Oracle is hiring a Senior Migration Learning Manager based remote, with headquarters in Austin, TX

• Telecom giant Verizon is hiring a Human Resources Information Systems-Compensation based in Basking Ridge, NJ

• Technology company HP is hiring an Executive Recruiter based in Vancouver, WA

• Fintech company Payoneer is hiring a Chief of Staff to the Chief HR Officer based in New York, NY

• Automotive leader Ford Motor Company is hiring a Director of Talent and Organization Development based in Dearborn, MI

• Aviation company United Airlines is hiring a Talent Acquisition Intern based in Chicago, IL

• Financial services company Wells Fargo is hiring a Campus Recruiter based in Dallas, TX

• Aerospace company SpaceX is hiring a Technical Recruiter based in Hawthorne, CA

For more of these roles delivered to your inbox every Monday, subscribe to the RecruitmentMarketing.com Jobs Weekly newsletter by clicking here. For a full list of open roles, head over to our job board by clicking here.

LAYOFFS

Places For You To Source Fresh Talent

• Media outlet The Washington Post is cutting 25% of its tech arm, Arc XP, laying off 54 employees. (WaPo)

• Entertainment giant Disney is laying off “hundreds” of employees across most corporate operations, including legal, HR, finance and communications. (Deadline)

• India-based Aakash Educational Services, owned by Byju's, has laid off 80 to 100 employees over the past couple of months. (Entrackr)

• Irish travel tech company CarTrawler is taking an unexpected detour by cutting 10% of its workforce as part of a new strategy. (Business Post)

• Biotech firm Notable Labs is pausing its cancer drug study and reducing its workforce by approximately 65%. (Market Watch)

• Chipmaker Qualcomm is laying off 226 workers in San Diego later this year. (TechCrunch)

EVENTS

Join Us For These Upcoming TA Events

• Employer Brand Authenticity in an Election Year: Navigating the Political Landscape and Attracting the Next Generation of Workers

  📆 October 15, 2024 at 4:00 PM ET

  ⚡️ Master the art of employer branding amid election year challenges and attract the next generation of top talent.
  👉️ Register here.

• Hire Innovations: Fall 2024
  📆 November 19-21, 2024 | 1:00 PM ET Daily

  ⚡️ Hire Innovations Fall 2024 is a dynamic 3-day virtual event designed to inspire and introduce you to cutting-edge technologies revolutionizing the hiring process.
  👉️ Register here.

👋Thanks for reading!