🔧 Skills are in

👋 Happy Thursday! Tomorrow is National Smile Day. It’s also Friday AND the end of the month. So many reasons to 😄!

Here’s another one: In just two weeks, we’re hosting Hire Innovations, a live, virtual event dedicated to previewing the future of recruitment and talent acquisition technology. With must-see speakers and thrilling product showcases, it’s an unmissable event for talent acquisition pros. Check out more information below, and register here before spots fill up.

Questions? Comments? Please get in touch, we’d love to hear from you!

— Team RecruitmentMarketing.com ✨

Today’s edition is a 5-minute read. Here’s what to expect👇

🗞️ Employers dropping tenure requirements
🌎️ Gen Z named most difficult to work with
💰️ Humanly buys Teamable
💻 TA roles at Lockheed Martin, Amazon
💼 Layoffs at Lucid, Foursquare

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This week, careers site Indeed (learn more) released new data showing companies may be relying less on tenure when it comes to hiring.

The big find.
When researchers from Indeed analyzed job postings on their site, they found that less than 33% of them asked applicants for a specific number of years of experience, down from 40% in April 2022. That’s a pretty significant drop over the last two years.

Role by role.
Looking closer, some types of roles had bigger drops than others in the experience requirement. Interestingly enough, the researchers found that degrees played a big part in which roles saw the most significant changes in tenure demands. Since April 2022, the percentage of high-education job postings requiring experience dropped from 66% to 44%. In a tough market for job seekers, it’s promising to hear that at least some companies aren’t asking for the moon.

Where you need the most tenure.
While high-paying fields like project management, engineering, and accounting are slowly shifting away from rigid tenure requirements, they’re still playing hard to get: These types of roles mentioned tenure requirements about 50% of the time, according to Indeed. But it’s important to note that they aren’t asking for much: Of the ten sectors with the highest overall share of postings requiring some specified number of years of experience, seven most often ask for only a minimum of two years.

Where you need the least tenure.
On the flip side, industries such as beauty, wellness, pharmacy, and therapy are more flexible on years of experience. Just 16% of beauty and wellness roles, for example, mention tenure requirements, the lowest percentage across all sectors.

So what?
Well, it’s important for recruiters to understand how and why employers are easing up on experience requirements. Labor market conditions are likely playing a role, with companies dropping these demands to attract more candidates and control costs. We’ve seen a similar story play out lately with skills-based hiring, where many companies are dropping education requirements from certain JDs (nearly 73% of employers said they adapted skills-based hiring last year, up from 56% in 2022, according to a survey). Ultimately, both trends show how the hiring game is changing—focusing more on what candidates can do rather than what's on their resume.

📥️ Read more from Indeed Hiring Lab

NUMBERS

Numbers That’ll Make You Think

• 25% — The percentage of U.S. adults who say it’s extremely or very important to have a four-year college degree in order to get a well-paying job in today’s economy (Pew Research)

• 1/3 — The fraction of hiring managers who said in a new survey that they are worried about hiring college graduates who participated in pro-Palestinian protests in the last six months (CNBC)

• 45% — The percentage of hiring managers who name Gen Z as the most challenging generation to work with (Forbes)

• 47% — The percentage of executives who said they believe “most” or “all” of the CEO role should be completely automated or replaced by AI (NYT)

• 158,593 — The number of people impacted by a data breach from Atlanta-based staffing firm TRC Staffing Services, according to a new filing (SIA)

INDUSTRY INTEL

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

• Recruiting automation platform Humanly announced the acquisition of Teamable, a San Francisco startup offering similar AI-boosted HR tools, for an undisclosed amount (HR Tech Feed)

• Junior coding bootcamp Launch Academy said it is pausing enrollment after a “lack of concrete opportunities” for program graduates (Fortune)

• An executive from pharma giant Moderna spoke to the WSJ this week about its new play to steal top talent from big tech companies (WSJ)

• At a tech conference in Paris, Elon Musk said “probably none of us will have a job,” when he was asked about the impact of AI on the labor market (CNN)

• Industry veteran Kye Mitchell is joining employment agency ManpowerGroup as senior VP and president of Experis Services after 25 years at Kforce (LinkedIn)

• Private equity executives say the industry is finally emerging from its two-year slumber, but hiring in the industry is still slow (WSJ)

• German document management company Asconso is expanding into the U.S. market with a new product focused on managing document compliance with the Federal Trade Commission’s new non-compete ban (HR Brew)

HIRE INNOVATIONS

New Speaker Added at Hire Innovations 🌟

RecruitmentMarketing.com is excited to announce that Deidra Cox, Founder and Head of Brand Strategy at Career Imagery, will join Linda Lee, Talent Partner at AI Fund, in delivering must-see Innovation Briefs at our upcoming Hire Innovations—a live, virtual event dedicated to previewing the future of recruitment and talent acquisition technology.

🗓️ Date & Time: June 12, 2024, at 12 PM ET
🖥️ Format: Virtual. Attend from anywhere!
💡 Exclusive Insights: Dive deep into emerging trends and innovative recruitment technologies with industry leaders.
⚡️ Interactive Demos: Experience firsthand the latest advancements in recruitment tech.

Don’t miss out on this transformative event. Join us to gain actionable insights and prepare your strategy for the coming year with perspectives from experts and technologists.

Thank you to our sponsors, Dalia (learn more) and Jamyr (learn more), for their support in making this event possible!

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OPEN ROLES

Jobs You Might Want (For Yourself!)

• Tech giant Amazon is hiring a Senior Strategist for Talent Development, based in New York, NY

• Manufacturing giant Lockheed Martin is hiring a Talent Acquisition Recruiting Manager, based in Grand Prairie, TX

• Language learning app Duolingo is hiring a Senior Principal Recruiter in Pittsburgh, PA

• IT company Gartner is hiring a Talent Sourcer, based in Irving, TX

• Venture firm 25madison is hiring a Head of Recruiting, based in New York, NY

• Financial institution Morgan Stanley is hiring an Assistant Vice President of People Strategy, based in Baltimore, MD

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

LAYOFFS

Places For You To Source Fresh Talent

• Car manufacturer Lucid said it is cutting 6% of its U.S. workforce ahead of a new electric vehicle launch (Electrek)

• Food supply chain software maker Silo announced it will lay off 30% of its staff, approximately 30 employees, amid ongoing M&A discussions (TechCrunch)

• Home COVID test maker Cue Health said it is shutting down its operations and laying off all of its 180 staffers (FierceBiotech)

• Education tech company Guild said it will reduce its workforce by 25% (Denver Post)

• Location technology firm Foursquare has laid off 105 employees, or approximately 25% of its company (TechCrunch)

WEEKLY POLL

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