A renewed spotlight on systemic racism in 2020 emphasized the importance of Diversity & Inclusion more than ever before. Transcending into the workplace, organizations were enlightened to increase equity and eliminate biases in all areas of their business, starting with hiring and practices like resume redaction.
Resume redaction, also known as blind recruitment, is the process of removing identification details for job candidates’ resumes. The goal is to help recruiters evaluate people based on their skills and experience, instead of factors that could lead to unconscious or conscious biases.
But while the intention of this practice is laudable, does it meet the goals of improving workforce diversity and reducing bias? How prevalent is the practice and how is it being done?
While 2020 has ended, the COVID-19 pandemic that defined it remained through the first quarter of 2021. But even with lasting effects from a turbulent year, the US economy continues to improve gradually.
First quarter in the US saw both the unemployment rate and people out of work falling to 6 percent and 11.4 million, respectfully, in March. With that comes an increase in worker confidence, trust, and stability nationwide – and this is only just the start.
Download our Worker Confidence Index for First Quarter 2021 to learn more about the changing state of worker confidence and how the first quarter foreshadows the year still ahead.
Background screening services have been and will continue to be an integral part of the hiring process. But just like everything else in 2020, the COVID-19 pandemic impacted all parts of a background screening provider’s operations from compliance laws to which components their clients deem most important to them.
With that in mind, this flash report examines the most important components and system capabilities of a background screening provider, and overall satisfaction with background screening provider services. When appropriate, data is also compared to findings from the 2017 and 2019 versions of this study.
Click Here to Download this Report!
COVID-19 left its mark on employee sentiments around job security in 2020.
By Larry Basinait
As the rollercoaster of 2020 came to an end, the results of the Worker Confidence Index (WCI) followed suit. The year started with the U.S. unemployment rate reaching its lowest level in nearly 50 years while the stock market soared at an all-time high. But once the pandemic hit critical mass in March, the economy was plagued with job losses, high unemployment, and nationwide lockdowns.
Worldwide employment rate staggers from COVID-19’s impact.
By Larry Basinait
2020 was a year like no other. The United Nations estimates that the coronavirus pandemic caused the equivalent of more than a quarter of a billion lost jobs. The UN’s International Labour Organization (ILO) found that a full 8.8% of global working hours were lost in 2020 compared to the fourth quarter of 2019. That is equivalent to 255 million full-time jobs—a number “approximately four times greater than the number lost during the 2009 global financial crisis,” the ILO said in a statement.
The circumstances of COVID-19 are driving learning, virtual, and employee engagement technology investment.
By Larry Basinait
While the economy was slowed by COVID-19 in the fourth quarter of 2020, the development of new HR technologies continued at a rapid pace. In total, there were 127 major announcements—those with at least $1 million in funding—up substantially from the 77 announced in the third quarter of 2020. Private equity and venture capital firms continued to invest heavily in HR technology, totaling $1.02 billion in the quarter, down 13.3% from $1.18 billion in the third quarter. The average investment declined from $26.0 million to $16.5 million.
As organizations emerge from the perils of 2020, employer brand conversations are shifting from acquisition to retention and rebuilding as a result. Starting at the hiring process, companies are more aware than ever before of the damage a negative candidate experience could have on their infrastructure rebuild. In fact, just under 80% of respondents to a survey conducted last year said a bad experience would impact their view of the organization in question.
That’s why HRO Today conducted a survey in APAC comparing those who consider their candidate experience to be top-tier vs. those with practices that are lacking.
Download this report to examine the practices of candidate experience measurement, employer brand practices, and the impact of COVID-19 on employer branding in the APAC region.
The United Nations estimates that the coronavirus pandemic caused the equivalent of more than a quarter of a billion to lose their jobs in 2020. The start of the year, which saw strong economic growth and low unemployment rates worldwide, drastically changed last March when the world was force to shutdown and rates spiked to 8.6 percent.
In response to the economic downturn that followed the initial COVID-19 outbreak, many governments unveiled extraordinary fiscal measures to help keep businesses afloat and individuals employed.
These efforts resulted in a steady decrease in the unemployment rate to 6.9 percent.
An impressive 127 announcements were made in Q4 of 2020 alone – with learning and upskilling products at the forefront of HR technology this quarter.
Technology announcements that addressed mobility or working in a virtual environment were also frequent, and closely related to that were the many citations revealing solutions for increased employee engagement.
In spite of the plethora of new products offered, integrations of multiple platforms are a continuing challenge and efficient use of the systems is far from optimized.
To test efficiency, HRO Today examined the shelf life of “silver medalists” of the talent pool in this new flash report.
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