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Online hiring dips 6% in April in India

Online recruitment in India faces decline and uncertainty

According to the latest findings from foundit Insights Tracker, online recruitment in India experienced a 6% decrease in hiring activity during April 2023 compared to the same period in 2022.

The Tracker’s analysis highlighted the volatile nature of India’s job market, attributed to economic uncertainty and the ongoing appraisal season when companies conduct performance evaluations. In April 2023, the Tracker index declined from 295 to 276, indicating a month-on-month drop of 4%.

The report further indicated that e-recruitment is currently facing a delicate situation. Among the 27 industries monitored by the Tracker, six witnessed improvements in online hiring over the year. Notably, the Retail industry saw the highest growth rate at 22%, closely followed by the Tourism sector at 19%. Conversely, the IT-Hardware and Software industry experienced a decline of 22% compared to the previous year.

In terms of job functions, out of the 12 functions monitored, only one function observed growth over the year. The Sales and BD (business development) function reported a 2% increase, while the HR and Admin function remained stagnant with 0% growth. The Customer Service function encountered the most significant decline at 28%.

Among the 13 cities monitored, online recruitment surpassed the levels of the previous year in only two cities. Ahmedabad reported a modest increase of 3% compared to the same period last year.

Meanwhile, start-up jobs displayed a notable growth rate of 19% when compared to the previous year.

Considering the experience level of jobseekers, entry-level positions with 0-3 years of experience witnessed a 9% decrease in demand. Intermediate roles with 4-6 years of experience experienced a decline of 20% in hiring. Mid-senior level positions with 7-10 years of experience reached an all-time low in hiring, recording a decrease of 25%. Senior level roles requiring 11-15 years of experience had a more moderate decline of 15%. Leadership roles with 16+ years of experience saw the most significant drop of 34% compared to the previous year.

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Australian employers ‘actively’ excluding jobseekers above 65

Age discrimination in Australian workplaces persists

According to a recent survey, approximately one in six Australian organizations will not consider hiring jobseekers aged 65 and over, despite facing recruitment challenges. The 2023 Employing and Retaining Older Workers Survey collected data from 297 HR professionals across Australia to determine their attitudes towards older workers. The report found that 36% of HR professionals consider employees aged between 61 and 65 as older workers, while 23% view those aged between 66 and 70 as older staff. Only 25% of the surveyed HR professionals said they were open to hiring a jobseeker aged 65 and over. Meanwhile, 17% of HR professionals reported that they would not hire people aged 65 and above at all.

Despite facing recruitment challenges, recruiters were less likely to consider older jobseekers. The report revealed that 65% of the respondents face recruitment challenges, and the share of those willing to hire applicants aged 65 and above is modestly lower than those not facing recruitment challenges.

The report shows that there is no difference between the job performance of older and younger workers, and older workers are better at coping with stress, have better attendance records, are more reliable, have greater awareness, are more committed, and are more loyal. However, HR professionals cite a lack of older applicants, the perception that older workers lack necessary tech skills, and high salary expectations as reasons for their reluctance to hire older workers.

Australian Human Rights Commission’s Age Discrimination Commissioner, Dr Kay Patterson AO, said that reluctance to hire older workers is costing employers valuable opportunities and that employers need to “shift their perspective” and “stop buying into myths” about older workers. Australian HR Institute CEO Sarah McCann-Bartlett pointed out that organizations are doing themselves a disservice, particularly amid high levels of job vacancies, by not employing older workers who could help ease these shortages. Employers who embrace age diversity will benefit from increased productivity, innovation, problem-solving, and workforce stability, according to Patterson

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Labour shortages force companies to hire older workers in Taiwan

Companies in Taiwan actively invited 327,000 middle-aged and elderly individuals for job interviews

A new report by 104 Corp reveals that due to high inflation and a growing labor shortage in Taiwan, there has been a surge in middle-aged and elderly individuals returning to the workforce. To meet the increasing demand for workers, companies in Taiwan are also targeting older age groups for recruitment. The report states that in the past year, out of over one million job vacancies in Taiwan, 181,000 were specifically designed for middle-aged and elderly workers, which is three times higher than the figures from three years ago. The industries with the highest demand for workers were wholesale and retail, real estate, and the accommodation service sector.

Moreover, 104 Corp’s research found that companies in Taiwan have actively invited 327,000 middle-aged and elderly individuals for job interviews during the same period, a 2.3% increase in the past three years. The report highlights that the older generation is taking advantage of these employment opportunities, with 58,000 individuals applying for jobs in March, a 23.4% rise compared to the previous three years.

Wu Lixue, General Manager of 104 Middle-Aged and Elderly Employment Bank, said: “New recruitment strategies should focus on those age 55 and older as declining birth rates in Taiwan reduce the labour force. With inflation soaring, the self-assessed retirement age of middle-aged and elderly people has been postponed to 64 years old, retirement reserves have risen from 15 million to 20 million, and the willingness to continue working and job hunting has increased, driving the number of middle-aged and elderly active applicant.”

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7,000 roles found for marginalised job seekers using AI-driven recruitment

18% of those job seekers identified as disabled

Skills-based inclusive hiring platform, Clu, has announced that it has helped almost 7,000 job seekers from marginalised groups to find work in the UK job market.

Amongst the 6,838 who have secured work, 18% identified as disabled, 14% as non-binary, 10% as neurodiverse, 5% as refugees and 2% as veterans, proving that employers can build high-performing teams inclusively with the effective use of AI driven recruitment technology.

According to the company’s annual Impact Report, 88% of the placements secured were retained for 12 months, showing the long term positive social mobilisation for these underrepresented groups. A report by The Sutton Trust revealed that closing the UK’s social mobility gap by just 2% would add a substantial £40 billion to the economy by 20301, highlighting the importance of prioritising skills over experience to support underrepresented groups in the hiring process which will ultimately fuel the UK economy.

The report revealed that the most successful job roles matched by the software included customer service, account management and data analyst roles. According to the data, an underrepresented job seeker is skills-matched to a job opportunity every 20 seconds in Clu, with 86% of candidates saying they felt more confident applying for work when they understand their skills-alignment to a role, demonstrating the mental health benefits to successfully matching candidates to roles they would be great at.

Clu’s offering is said to remove long standing barriers to the job market using proprietary ethical algorithms and unparalleled data sets across skills, demographics, and geographies to match candidates to jobs based on what they can do, not where they learnt to do it.

By leveraging its newly launched Clu’d Up toolkit, employers using Clu can now also identify weak points around recruitment inclusion and accessibility and correct them before they impact the selection process, ensuring that every candidate is evaluated fairly and based on their skills and suitability for a role. Ultimately giving them access to skills-aligned diverse talent, quicker.

Disabled himself, Joseph Williams CEO of Clu, commented: “There is so much untapped talent sitting in diverse groups that are overlooked and underestimated before they even get to interview stage.

“By removing arbitrary barriers to entry and relying on effective ethical AI and better-quality data to hire based on what a person can do, not where they are from, we can get thousands more back into work and kick start the UK economy.

“However, to truly prioritise inclusion, we must embrace systems that empower every skilled job seeker to excel in jobs they’d be great at, not just a select few. The urgency for better hiring data is clear: we risk perpetuating and even worsening systemic inequalities without it.  Everyone deserves to feel valued, included and set up for success in the hiring process and we won’t stop until we achieve this reality.”

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Most Americans oppose using AI to hire and monitor workers

The impact of AI on hiring and employment practices

The increasing use of generative AI tools, hiring algorithms, and productivity tracking software, among other AI applications, is transforming the employment landscape and creating new challenges for HR teams. Federal, state, and local regulators are struggling to keep pace with the rapid growth of AI, particularly in relation to its use in hiring decisions. The U.S. Equal Employment Opportunity Commission has expressed concerns about the potential for discrimination arising from the use of AI in recruitment. In response, New York City has enacted some of the most restrictive AI-in-hiring laws in the country, requiring local employers to audit and notify job candidates about the use of automated employment decision tools.

According to a survey by Pew, many job seekers are wary of employers that use AI to assist with hiring decisions, with two-thirds of respondents saying they would not apply for such positions. The reasons cited included concerns about the need for specific keywords on applications and the inability of AI to capture nonverbal information from candidates. However, among the remaining respondents, some felt that AI could be less prejudiced and more objective than human recruiters.

Pew’s survey also found that respondent sentiment about AI varied based on factors such as income level, gender, race, and ethnicity. Higher-income respondents were more likely to favor the use of AI in reviewing applications, while men were more likely than women to see both benefits and downsides to AI usage in the workplace. White and Asian adults were also more likely to see potential downsides for AI used to monitor workers.

Employers must carefully consider whether and how to integrate AI into their processes. Some experts suggest that employers should allow employee needs to drive the use of AI and automation in the workplace. However, a survey of information technology managers and workers found that most respondents had witnessed negative impacts from employers using surveillance technology. As public opinion about AI in the workplace continues to evolve, many people remain unsure of their positions on the issue.

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Southeast Asia and HK job market remains strong

71% of workers desire a stable job with a good work/life balance

According to a recent from Seek’s Jobstreet and JobsDB the Boston Consulting Group and the Network, 2023 will remain a jobseekers’ market in Southeast Asia and Hong Kong, despite a possible economic slowdown.

The study, which surveyed 97,324 respondents in Indonesia, Hong Kong, Malaysia, the Philippines, Singapore and Thailand, found that 34% of talent surveyed are actively looking for a new job.

The top three motivations for searching for a new job are: looking for a more interesting position or higher seniority (49%), lacking opportunities for upward career progress at current place (30%) and unsatisfied with salary and benefits at current job (27%).

According to the study, workers feel confident to look out for new opportunities despite fears of recession as majority surveyed are aware of their attractiveness to employers. It also found that 74% of talent around the region are approached multiple times per year about new job opportunities, and 36% of those are approached every month. In Singapore, these numbers are equally high at 75% and 31% respectively. In addition, 70% of the region’s respondents and 62% of Singaporeans feel that they are in a strong negotiating position when looking for a job.

Peter Bithos, Chief Executive Officer, Asia, Seek, commented: “When faced with a possible recession, the balance of power in the labour market tends to shift towards employers as hiring tightens. However, we believe the situation is different this time as many organisations in Asia are still recovering from the jobs lost during the pandemic. While hiring growth may slow down during times of uncertainty, there is no doubt that it is still a jobseekers’ market right now, and so it’s important for employers to know how to attract, recruit and retain talent.”

Among top priorities, the study found that 71% of workers stated that they desire, above all, a stable job with a good work-life balance. This preference is dominant across job roles, countries, and age groups.

This is in line with jobseekers’ deal breakers​ when​ looking for a new role, with 17% citing work-life balance as a deal breaker, ranking second only after financial compensation (22%). The amount of paid time off and job security is also important to jobseekers, with both categories ranking third.

The report showed that those working in IT roles are the most coveted talent across Indonesia, Hong Kong, Malaysia, the Philippines and Singapore, as they are frequently approached with job opportunities on a weekly and monthly basis.

“Despite the waves of layoffs by tech companies in the region and around the world, the demand for tech talent still remains based on the report’s findings. This is consistent with Seek’s observation of a 29% YoY (2021 vs 2022) increase in job ads for tech roles in the region, based on data from our JobStreet and JobsDB platforms,” added Bithos.

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Top 7 reasons workers are put off applying for a job role

46% of applicants put off by bad online reviews

A recent survey by recruitment and employment technology company, CareerWallet has revealed detailed trends and insights into the UK job market. The report has shown the top seven reasons job seekers are put off a business when applying for a new role, with bad reviews and terrible annual leave topping the list.

Top reasons job seekers are put off applying for new roles

  • Bad reviews online 46%
  • Poor annual leave 44%
  • Bad staff incentives and benefits 42%
  • Morally dubious sector 32%
  • No hybrid working 21%
  • No sustainability policy 19%
  • Outdated sector 18%

The survey showed that job seekers extensively research firms before applying for new roles with nearly half (46%) put off by bad reviews online and 19% refusing to apply to firms with no sustainability policy. Terrible annual leave (44%) and bad staff incentives/ benefits (42%) were also high on the list of reasons job seekers would be put off applying to new potential employers when looking for a career change.

The national survey also revealed what is important for job seekers when applying for new roles and gives employers a good idea of what to consider in order to attract the best talent. For example, upgrading staff benefits, offering some level of hybrid working and also making sure annual leave is competitive and in line with competitors makes a job role more attractive to potential applicants.

Craig Bines, CEO at The CareerWallet Group made commented: “At CareerWallet we process millions of jobs a day and this allows us to quickly see how the job market is being impacted on a daily basis.

Our national employee survey has highlighted how UK jobseekers are extensively researching their next potential employer with 1 in 5 even checking for sustainability policies. Many businesses may need to consider changing outdated company policies around annual leave and hybrid working, making sure they remain competitive and can attract the very best talent.”

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US Jobless up by 14,000

CPI remains static

Although the previous week’s level was revised downward by 12,000, jobless claims increased by 14,000 last week. With this increase, the jobless claims level is now 262,000, according to the latest US Department of Labor reports.

According to a Reuters poll, economists forecast 263,000 applications for the latest week.

Other stats show that the four-week moving average of claims increased by 4,500 in the week ended Aug. 6 to 252,000. The previous week’s average, however, was revised downward by 7,250.

In related news, The US Bureau of Labor Statistics reported that the consumer price index for urban consumers was unchanged in July compared to the previous month. However, year on year, the index increased by 8.5% in July, this number down from 9.1% in June.

While the cooling of headline inflation is welcome at the Federal Reserve, economists warn that the Fed wants to see more months like this and that officials are also focusing on core prices, according to Market Watch.

Sal Guatieri, Senior Economist at BMO Capital Markets, commented: “The July CPI report might be the first clear indication that consumers are pushing back against high inflation in response to tighter monetary policy. It’s a sign that inflation is close to peaking, though the climb down the mountain will be slow due to rising wages and rents.”

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Financial benefit of hybrid working important to nine out of 10 job seekers

Half of workers dismiss jobs that do not offer hybrid working

According to new research by IWG, hybrid working is now the most sought-after benefit for job seekers. The research showed large numbers of office workers out flexible working alongside other benefits such as health insurance and group income protection (88%), life insurance (84%), unlimited vacation (76%), and extended parental leave (71%) as important benefits in a new role.

The survey was conducted among 2,000 office workers to understand better the key factors driving jobseekers’ decision-making.

The jobs website Indeed revealed that ‘hybrid’ is one of the fastest-growing search terms, having increased by 6,531% in the last 12 months. In addition, according to IWG’s research, half of workers would immediately dismiss jobs that do not offer hybrid working.

Job seekers also highly value the opportunity to work remotely. Searches for remote work have also risen by 666% and now account for 2.3% of all searches. Sixty percent of respondents stated they would like to work within 15 minutes of their home.

According to the research, office workers’ top five considerations when applying for a new role are:

  • Hybrid working (43%)
  • New colleagues (32%)
  • Potential for progression (30 %)
  • Company culture (27%)
  • Equity and bonuses (27%)

Half of office workers (49%) said they would immediately rule out jobs that didn’t offer hybrid working. Sixty-seven percent said it improved work/life balance. A further 37% mentioned improved mental health and wellbeing as a benefit. Reduction in commuting load was another benefit (36%). Thirty-one percent said it enhanced productivity.

IWG also provided data that indicates how the popularity of hybrid working is increasing the demand for suburban and rural office space. Demand for rural and suburban office space increased by 29% in 2021. Locations such as Bromsgrove (+52%), Beaconsfield (+33%), and Tewkesbury (+22%) rose in popularity.

Bruce Daisley, Author of The Joy of Work and former EMEA Vice-President of Twitter, said: “We’re right at the start of the biggest transformation in the way we work that we’ve ever witnessed. The biggest danger for firms is thinking that we’re the end of the change; we’re just at the start and companies need to prepare themselves.”

Mark Dixon, CEO of IWG, commented: “With a buoyant job market after a challenging couple of years, workers are demanding more of their employers and their roles. Gone are the days when salary was the only factor when considering a job offer, and nothing better demonstrates this than the rise of hybrid working.”

“Daily commuting is an expensive and unnecessary practice, and it’s clear to see that workers around the UK are taking back control of this time. Employers who don’t offer hybrid working are going to miss out on the best talent. Not only do employees benefit from a dramatically improved work-life balance, but by switching to a hybrid model, businesses can expect to save an average of more than £8,000 per employee, all while minimising their carbon footprint.”

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New jobs website aims to create more jobs in sustainable industries

Jobs board focuses on roles at companies that ‘do good’

Last week member states of the Organisation for Economic Co-operation and Development (OECD) agreed on new plans to create more jobs in sustainable industries.

The new jobs website, Jobs For Good,  is aimed at people who want to find jobs in sustainability industries where they can make a social impact. There are already 1,200 roles live on the website.

According to PWC’s latest reports, one in five people are looking to change jobs, with 68% of these wanting a more fulfilling job. Further, with over 70% of millennials wanting employers with a strong environmental agenda and 10% of workers saying that they would take a pay cut to work at an environmentally responsible company, it’s clear that there is a growing demand for jobs in companies that are ‘for good’.

In the UK, the ‘impact industry’ is worth £50 billion, employs 35,000 people, and has grown 127% since 2018.

The new jobs board only features jobs in companies that “do good” in that they positively impact people or the planet and are run responsibly. These can be in areas such as renewable energy, food production, health and wellbeing solutions, etc.

On the site, job seekers can search by job type and impact area without needing to sign in. They can then read about the companies’ ‘do good’ credentials before applying for the job online.

Job sectors include IT, marketing, product, sales, and admin roles, and companies are vetted for their ‘For Good’ credentials before they can add jobs to the website.

Olivia Spaethe, CEO of Jobs For Good, commented:  ‘Originally we built Jobs For Good in response the ‘Great Resignation’ and people looking for more fulfilling roles in sustainable companies. We’re really encouraged to see the UK Government and OECD agreeing to invest and focus more on this area too. We’re here to plug an important gap between sustainable start-ups looking for new workers, and those workers looking for the right do-good company to work for.’

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