What do all the labor market headlines mean for employers?
More than 150,000 tech workers were laid off in 2022. While in just the first month of 2023, more than 68,000 were laid off, according to layoffs.yfi. Meta laid off more than 11,000 employees, about 13% of its workforce, in November 2022. In February 2023, Meta is preparing for another round of job cuts that could affect thousands of workers. According to a USA Today report, the workforce in tech is still very strong despite what we’re hearing in the headlines. Even with all the layoffs Amazon had, their workforce is still 90 percent bigger than what they had in 2019.
Layoffs spilled beyond the tech space and into other industries. According to Forbes, “NPR announced February 22nd it will cut 10% of its workforce, making it the latest U.S. company and major news outlet to reduce its headcount, as employers continue to fear the economy could topple into recession. On the same day, Bloomberg reported that McKinsey & Co is cutting 2,000 jobs in one of its biggest layoffs.
On the other hand, The U.S. economy added 517,000 jobs in January, and the unemployment rate fell to its lowest point since 1969, 3.4%. According to economist Andrew Flowers of Recruitonomics ™, “The near-perfect report featured everything we and the Fed wanted to see: cooling wage growth, a return of job seekers, and impressive industry gains.”
In this roundtable discussion, three global talent acquisition leaders (from different industries) and a workforce analyst discuss the current conditions of the talent market. The panelists explore what these conditions mean to their hiring needs and strategy and what employers can do to navigate today's talent landscape.
Research Manager - Employee Experience at IDC and Columbia University Associate
I am strategist focused on the next generation of dynamic resource interactions in the market and within organizations. As management focuses less on data generation and more on data interactions, I study and live at the nexus of different organizational segments to understand, visualize, and report on how different combinations of resources produce different profitability and performance opportunities.
I have a diverse background spanning workforce planning, talent strategy, business strategy and market orientation, operational resource planning, and high-level supply chain partnership analysis. I have consistently worked in all of these areas and in complex data environments to surface insights and understanding about the state of business and business positions as they relate to underlying economic factors. I have also published research into how strategic business positions support the execution of new projects to solve key areas of value lag within organizations in the public and private sector.
Vice President of Talent Acquisition & Strategies at Hatchworks
I began my career on the business side, leading sales and operation teams at a local and state level for major banking institutions. In 2004, I made a pivot and started my journey in HR.
My passion is to lead, innovate and engage the recruiting industry to change how both large and small businesses value the Talent Acquisition discipline. My blog Sprintrecruiting.com reaches thousands of readers and provides unique insights on a range of recruiting topics.
Global Head of Global Service Delivery and Transformation Recruitment
Rob held leadership roles at global companies like SAS, Capital One, Aimia and Aon. He has led large sized recruitment teams of up to 55 recruiting professionals within RPO and internal corporate recruitment functions across Canada, the United States, Latin America and the Caribbean.
As a proven Talent Acquisition leader, Rob has designed, built and executed creative and scalable recruitment strategies to support up to 18,000 hires per year. He has also led the design and implementation of various innovative recruitment and sourcing tools including: application tracking systems, data analytics, media cloud, CRMs, assessments, text recruiting and video interviewing. Based in Toronto, Rob lives with his partner of 17 years and their beautiful Chocolate Labrador dog, Summer. He loves to travel and is a big believer in health & fitness so when not at work, you can find him discovering a new city, country or at the gym putting in a great workout.
Vice President, Global Talent Acquisition at Lineage Logistics
Experienced Global Vice President of Talent Acquisition leader with a demonstrated history of working in the logistics and supply chain industry, pharmaceutical and healthcare industry respectively. Strong human resources professional skilled in Management, Interviewing, Recruiting, Training, investigations and all things HR. Currently serving as a board member for an AI sourcing technology; Hire Wells and previously spent 3 years running Disrupt HR chicago. Recently named Top 100 most influential TA leaders by TA tech for spring 2022.
Business and HR Leaders
Business executives and human resources leaders looking to understand the state of the current labor market directly from talent leaders.
Recruiting professionals and top executives of recruiting companies looking to stay informed of employers' state of hiring.
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The RPO Leadership Forum is a monthly webinar series hosted by Recruitment Process Outsourcing Association’s Executive Director, Lamees Abourahma, which features top talent leaders from the RPO industry. Webinars are scheduled for the 3rd Tuesday of each month at noon ET and cover topics related to RPO drivers, adoption, best practices, and trends.
The RPO Leadership Forum furthers RPOA’s mission of nurturing a collaborative community where thought leadership can be created and curated to educate the marketplace about RPO.