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    How to Address Hiring Tension After Public Layoffs

    Over 1,000 tech companies cut upward of 260,000 jobs in 2023 alone. Thousands of layoffs in the past few years have meant companies faced uphill battles with public and candidate perception. This is especially true for the layoffs that were handled poorly. 

    Employees today want companies that bring more than just job satisfaction through pay. Candidates seek value-driven companies that affirm their values. According to Gartner, 82% of employees surveyed say it’s important for their company to view them as a person – not just a worker. However, only 45% of employees believe their organization actually sees them as such. 

    Especially during layoffs, companies need to uphold their values and be empathetic to what employees are experiencing. Data shows that transparency during layoffs builds trust. A PwC survey found that 58% of employees say encouraging managers to increase communications with remaining team members fosters trust during reorganization. 

    Related: Why You Should be Recruiting Laid Off Talent (+ 3 Key Strategies) 

    The key to creating trust and building a positive image of the company is employer branding. According to a recent Hired survey, 41% of employers plan on increasing employer branding in their 2024 hiring strategy.

    Employer branding helps talent pros attract and retain top. A positive and well-defined employer brand enhances reputation, boosts employee engagement, and leads to higher productivity and lower turnover rates. Strong employer branding becomes more important than ever when companies implement layoffs. 

    Hired predicts TA will feel the heat as companies that handled layoffs poorly struggle with recruiting and feel tension with managers over the cost of vacancy.

    “Companies that were quick to downsize are beginning to realize the negative ramifications, as evidenced by recent headlines about hiring boomerangs. Organizations that laid off staff empathetically, offered severance packages, and helped workers land on their feet will have an easier time hiring and winning back talent, compared to those that face reputational issues.” Samantha Friedman, Hired SVP People Strategy.

    Biggest change to hiring strategies for 2024? Surveyed employers say it’s a greater emphasis on employer branding. When asked if their company’s growth has been hurt more by layoffs than the economy, 41% of employers said yes, while respondents at medium-sized companies (300-9999 employees) were most likely to agree.

    If their company experienced layoffs and made headlines in the news or chatter on social media for poor execution, companies will need to repair the damage through employer branding. If response rates or acceptance rates were low before, imagine what they’re like after negative publicity from a poorly executed reduction in force.

    Efforts to repair reputations and employer brands will be especially valuable to technical sourcers, recruiters, and TA teams, who are on the front lines and often the first point of contact with a candidate.

    Hired’s CEO on companies mishandling layoffs

    In a recent Talk Talent to Me episode, Hired CEO Josh Brenner discussed layoffs and how companies choosing to handle them would affect their success in rehiring. 

    A Hired survey revealed 68% of tech employers would feel confident rehiring employees they laid off. However, only 15% of unemployed workers would definitely accept a job from an employer who laid them off. 

    Reflecting on these stats, Josh explained, “One of the key pieces of that connection talent has to companies when looking at the values is trust. They want to feel like they can trust their employer… The companies that handled those layoffs poorly will have a very small chance of getting any of those employees back. They have their challenge cut out for them. Not only are they not going to be able to get the boomerang employees back, but they really need to focus on their recruiting efforts. 

    Those companies now have employer branding issues. People talk, use social media, and check company review sites like Glassdoor and Blind. Talent teams now have a hard job within those companies to rebuild trust with jobseekers.” 

    What can companies do to address that? Josh suggests they be transparent in the recruiting process. They should share why things happened the way they did, what they learned, and how they will adhere to their values going forward.

    Related: Transparency is one of Hired’s vision values, so each year Hired recognizes companies who demonstrate it (and equity and efficiency) in their hiring processes and activity. Check out the 2023 List of Top Employers Winning Tech Talent.

    How companies are strengthening employer branding

    Whether companies are rehiring post-reorganization or looking to build general brand awareness, investing in employer branding is a strategic move. Bark, Chase, and Wayfair turned to Hired as a solution to strengthen their brands in tech and increase awareness among highly qualified software engineering talent. 

    Bark wanted greater brand recognition among experienced Front-end, Back-end, and Full Stack Engineers. Hired Events hosted a virtual candidate event (VCE) for Bark featuring their CEO, Tech Leadership, and Talent team sharing how they navigated through adverse times and exceeded business goals.

    Offering the opportunity to directly connect with the tech team and showcase the company’s ability to adapt and excel through diversity boosted Bark’s appeal to engineers. Nearly 90% of attendees opted in to learn more about life at Bark!

    See how Hired helped Chase and Wayfair through similar Virtual Candidate Events hosted by Hired.

    The cost of vacancy as a key concern

    As companies struggle with rehiring after layoffs, we found that 63% of employers say the cost of vacancy (CoV) is a key cause of concern. 

    Our survey also revealed that 70% of mid-market or scale-ups (vs 61% SMBs, 58% ENTs) expressed this concern. Data also showed that 76% of hiring managers have this concern as CoV affects their teams and project deadlines the most. This is compared to 63% of executives and 49% of TA/recruiters.

    What is the cost of vacancy?

    The cost of vacancy is a figure expressing the dollars lost due to leaving a job position unfilled. The costs may be hidden in inefficiency, training hours, knowledge loss, and further attrition from team members taking on more work. Especially concerning is the lost opportunity for research and development along with potentially hindering the ability to capture growth or market share.

    Related: Less Competition, More Talent: Here’s How to Recruit in an Economic Downturn 

    In the longer-term view, an open position may lead to:

    loss of productivity and revenue,

    the slowdown of goals and projects’ roadmaps,

    the negative impact on deadlines and employee morale,

    retention issues, and

    even a loss of market share.

    The ripple effect of vacancies is damaging to business. Here’s what organizations can do to calculate the costs of vacancy reboot hiring.

    Related: Restart Recruitment Guide: How To Reboot Tech Hiring Post-Freeze  More

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    Cisco Turns Talent Acquisition Professionals into Talent Advisors

    Fourth in the Tech Employers Leading the Way Series

    Editor’s Note: Tech Employers Leading the Way recognizes companies that innovate and work to improve the hiring experience for both their hiring managers and the tech candidates they seek. In this series, we’ll dive into what works for them, and what they’ve learned, and share it with our readers. Sharing these stories and learnings supports our company vision to make hiring more equitable, efficient, and transparent.

    Hired’s List of 2023 Top Employers Winning Tech Talent highlighted companies across a variety of segments and industries creating tech hiring processes and experiences embracing principles such as equity, efficiency, and transparency. 

    Among those leading the way is Cisco, an enterprise facilitating connections through innovative software-defined networking, cloud, and security solutions. Cisco ranked 7th overall, among large enterprises, thanks to scores placing them 6th in Equity, 8th in Efficiency, and 10th in Transparency categories. 

    Mian Fouché, Director, Join & Connect (People, Policy, & Purpose), shares the power of transforming Talent Acquisition (TA) pros into talent advisors who act as strategic business partners and enhance the hiring process. 

    Tell us about Cisco

    Cisco enables people to make powerful connections. Our hardware, software, and service offerings are used to create the Internet solutions that make networks possible — providing easy access to information anywhere, at any time. 

    We know that powering an inclusive future starts with us. Because without diversity and a dedication to equality, there is no moving forward. Our 30 Inclusive Communities, which unite people around commonalities or passions, lead the way.

    Together, we’re committed to learning, listening, and caring for our communities while supporting the most vulnerable with a collective effort to make this world a better place either with technology or through our actions.  In 2023, we surpassed our goal to positively impact 1 billion people, more than one-eighth of the world’s population through our social impact grants and signature programs outlined in our Purpose Report.

    Cisco didn’t just build the Internet. We keep building it. And while our technology helps connect the unconnected, that’s not where our edge comes from. It comes from our people—unique, innovative, and diverse. #WeAreCisco

    Tell us about a process you implemented to improve candidate experience and the hiring process

    Within our security teams, we implemented a structured interview process. We continue to iterate on it based both on feedback from candidates and hiring leaders. The idea is to create a more condensed and intentional process for mutual exploration of role fit between the candidate and the hiring team. 

    This not only improves efficiency but leaves room for all parties to get a clear understanding of the role in question and team alignment. We want candidates to complete the process with an understanding of how the position fits into our long-term strategy, and whether this aligns with their ultimate career aspirations. 

    What are some of Cisco’s strategies for maintaining a strong employer brand?

    Cisco maintains the WeAreCisco blog where candidates can discover our values and read about real-life experiences from our employees. Cisco’s team of talent advisors and business leaders are also encouraged to maintain a strong presence on LinkedIn and other social media platforms to tell their stories. 

    We want people to have the opportunity to understand a day in the life of a ‘Cisconian.’ This allows them to understand if our values align with their needs. For instance, Cisco provides employees with generous volunteer time off so employees can focus on the causes that matter most to them. 

    Since the Great Resignation, there’s been a shift in priorities for many, if not most, professionals in tech and other fields. Candidates tell us health, wellness, and work-life balance matter to them. 

    By creating the space for our employees to tell their stories, we hope to provide a behind-the-curtain look at our employee experience. We understand candidate experience doesn’t end with the conclusion of the interview, but spans into what we would hope to be a long and prosperous career with the organization. 

    How has collaboration between hiring managers and TA teams improved efficiency?

    Here at Cisco, we encourage our talent acquisition professionals to think and act as talent advisors, not only to candidates but also to hiring leaders. We understand that hiring the best people starts with strong collaboration within the organization, and is a team sport. 

    We strive to constantly upskill our talent advisors to enhance their competencies in business acumen, operational excellence, and data literacy. That way, they’re able to act as strategic partners to the business as opposed to simply operating as a transactional support function. 

    This drives alignment and partnerships, resulting in an expedited hiring process for the candidate. It also equips the talent advisor with information and details to help candidates come prepared when they meet with our hiring teams.

    As businesses evolve, talent strategies do too. How have your strategies shifted in the last 12 months? How do you plan to shift your strategies in 2024? 

    Over the last few years, we’ve observed a directional shift from education-based hiring to a more skills-based approach. As this continues to evolve, we anticipate the necessity to adjust the way we evaluate talent. 

    This is especially true with the rise in emerging technologies like artificial intelligence and machine learning, and a global focus on improving cybersecurity tooling, with a lot of uncharted territory to traverse. 

    I foresee this will necessitate that we look at various avenues to address skill shortages in these areas via mechanisms like upskilling and reskilling existing talent with adjacent skill sets.

    Related: Hired partners with several organizations offering upskilling and other intensive training programs. See the directory of partners.

    How has Hired supported your hiring strategy?

    Our partnership with Hired has been invaluable as we strive to build a world-class, technical organization when we have critical needs that require expedited hiring. Hired has a slate of thoroughly vetted candidates who are ready to go to market. 

    In providing data and insights on market availability by skills, experience, and geography, Hired has allowed us to influence business decisions based on what the market can provide at any given point in time. They’ve also been able to provide us with exploratory services to determine how we can best leverage the platform for different skills and in various locations. 

    With fast and effective training for new users of their highly intuitive and user-friendly platform, and monthly reporting on usage and effectiveness, we can use tangible data to maximize the return on investment we garner from our partnership with them. Offering extreme flexibility on license assignments as our needs and resourcing evolve, their agility is a tremendous asset in the ever-changing tech landscape. 

    Finally, the ability to partner with hiring leaders directly on the Hired platform drives efficiency, strengthens our relationships and partnerships with our business leaders, and inspires mutual accountability, for an optimized hiring process.

    Check out all the featured tech employers in the series so far: 

    Firstup Puts People First to Help Companies Speed Up

    One Medical Focuses on Authenticity in the Candidate Experience

    Veho’s Multi-Faceted and Candidate-Centric Interview Process for Better Alignment More

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    Tech Hiring Predictions, Talent Strategies, & More: Talk Talent to Me January ’24 Recap

    Hired’s Talk Talent to Me podcast started 2024 with a bang! Listen in on these episodes featuring recruiting and talent acquisition leadership plus a special episode with Hired’s CEO. They share strategies, techniques, and trends shaping the recruitment industry.

    Talent insights with Ali Bebo, CHRO at Pearson

    Recruitment, tech hiring, and talent strategies with Jim Hemgen, Director of Talent Development at Booz Allen Hamilton

    2024 tech hiring predictions with Josh Brenner, CEO of Hired

    Being mission-driven with Ryan Loken, Head of HR Policy & Governance at Tyson Foods

    1. Ali Bebo, CHRO at Pearson

    In talent acquisition, future-proofing is as important as focusing on the present. Ali discusses how talent acquisition has changed since she got started, the role of AI in the industry, and why managers should avoid being passive in team building. Ali thinks talent recruitment is much like coaching a sports team. In this episode, she explains how the two jobs are similar. She also shares her experience in helping her company hire a new CEO before she leaves us with some incredible advice about knowing your superpower.

    “What can you do better than 10,000 people? Once you can really answer that question, then you find roles and opportunities where there’s less friction. Because when you’re in a role that you’re able to use your best strengths and get to do what you do best every day, then frankly, performance happens.” 

    Listen to the full episode.

    2. Jim Hemgen, Director of Talent Development at Booz Allen Hamilton

    Jim breaks down Booz Allen’s approach to recruitment and talent development, why hiring tech talent is so competitive, and what they are doing to set themselves apart. He also discusses how they cultivate a culture of continuous learning, using data and predictive analytics for workforce planning, and the most effective retention strategies.

    “I highly encourage soliciting a mentor from an outside organization. Find somebody who’s in a role you aspire to be in and get engaged in conversations. It goes a long way.”

    Listen to the full episode.

    3. Josh Brenner, CEO of Hired

    The last year has been tough on all fronts when it comes to tech recruiting and hiring. Josh shares his predictions for hiring in 2024. He discusses tech hiring resurgence, AI, layoffs, and the debate on remote, hybrid, and in-office work.

    “Companies that have the best teams are the most successful, and you, as the talent professional, are the ones that are helping companies build those best-in-class teams.”

    Listen to the full episode.

    4. Ryan Loken, Head of HR Policy & Governance at Tyson Foods

    Ryan shares his multifaceted role within the company, his broader impact on the community, and the dynamics of HR. He dives into the community outreach work he is involved in, how he leverages the company for good, and his motivation for pursuing community outreach. Ryan also shares why HR professionals are no longer compliance police, why he chases the mission and not the title, and the interconnectedness of company policy and culture.

    “I have never chased a title. I have always chased a mission.”

    Listen to the full episode.

    Want more insights into recruiting tips and trends?

    Tune into Hired’s podcast, Talk Talent to Me, to learn about the strategies, techniques, and trends shaping the recruitment industry—straight from top experts themselves. More

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    Hired CEO Reveals Predictions on Tech Hiring for 2024

    Josh Brenner on the Talk Talent to Me podcast

    Last year was challenging on all fronts within tech recruiting and hiring, so what’s next? To discuss his predictions for 2024, Hired CEO Josh Brenner visited the Talk Talent to Me podcast. Based on The Future of Tech Hiring: 8 Bold Predictions for 2024, he shares his thoughts on a tech hiring resurgence, AI, layoffs, and the RTO/remote debate. Get a sneak peek of the episode below and listen to the full conversation here. 

    There were lots of layoffs happening…You seem to think there’s going to be a resurgence in hiring this year. I’d love to know why you think that’s the case.

    Josh Brenner

    I want to be clear that we have been through this really interesting journey over the past five years. I think the ‘resurgence’ is not to be confused with the rapid scaling we saw post-pandemic, starting in the spring of 2021. The resurgence I’m talking about is more like a pre-pandemic pace than the rapid period we saw from 2021 to 2022. 

    We’re feeling optimistic for 2024 because we took a survey from hiring managers, recruiters, and tech leaders. Overwhelmingly, the response was that their budgets for headcount in 2024 will expand. We’re also seeing that companies have been in this strange place where they’ve pulled back. As a result, they started to see the growth rates slow down and their ability to achieve their digital transformation goals, in a lot of cases slowed down as a result. 

    We’re starting to see some companies, especially the smaller ones, realize that real growth is still important. While managing your costs is important for a small business, they need to show growth, or doesn’t make a lot of sense for them to be in business. We see some of that swinging back around with companies backfilling hires and pulling forward new initiatives. We strongly believe the tech industry is still a really exciting opportunity for people to grow their careers.

    Who are the companies who are well set up to rehire or increase their headcounts?

    Josh Brenner

    I’m not going to name specific names but we have data across a large portion of those companies. We’re seeing financial services companies are back in full swing. In a lot of ways, larger tech companies, while they have very publicly been shedding employees are also hiring on the opposite side of that. 

    Startups, especially those focused on AI, machine learning, and all of the surrounding ecosystem have gotten a vast majority of the funding over the past year. As you can imagine, with that funding comes the need to hire.

    A survey response revealed that 68% of tech employers would feel confident rehiring employees they laid off, while only 15% of unemployed workers would definitely accept a job from an employer who laid them off. 

    Do you think people should not go back to employers that laid them off? Or should jobseekers swallow their pride and get their old job back?

    Josh Brenner

    That’s a really good question. My thinking on why the companies are so interested in taking the people back is maybe self-explanatory. But I think it’s also worth mentioning there are a lot of benefits to having boomerang employees. They’re vetted in the sense that you’ve already made the decision once to hire them. They clearly have a value fit with the company and were a strong contributor to the team. There’s obviously a lot less ramping up needed to get them back into the company. 

    I understand why companies would be excited about having people back. I know a lot of companies across the board had to make extremely tough decisions when making these cuts. A lot of the people they had to let go of were people they didn’t want to see gone. 

    Related: Why You Should be Recruiting Laid Off Talent (+ 3 Key Strategies) 

    On the employee side, it goes back to the pandemic. Talent used that opportunity while we were in lockdown to kind of reprioritize and reevaluate what they were looking for in a company and employer. We left that period with talent being even more focused on making sure they had a really strong connection with the mission, vision, and values a company had. They wanted to be part of something bigger. They didn’t want to just be coming in and clocking in and out. People that are happy at work are happy at home. And the reverse is true, too. It really impacts your whole life. 

    All that being said, one of the key pieces of that connection talent has to companies when looking at the values is trust. They want to feel like they can trust their employer. A lot of companies took a lot of care when they did reductions. They tried to help people get other jobs and do the right thing by talent. Those employers are going to have a much easier time getting those boomerangs back. They live the values they talk about as a company. 

    On the flip side, there were also a lot of companies – more often than not – that didn’t do the right thing by employees they let go. The companies that handled those layoffs poorly will have a very small chance of getting any of those employees back. They have their challenge cut out for them. Not only are they not going to be able to get the boomerang employees back, but they really need to focus on their recruiting efforts. 

    Because those companies now have employer branding issues. People talk, use social media, and check company review sites like Glassdoor and Blind. People will look at those things. Talent teams now have a hard job within those companies to rebuild trust with jobseekers. 

    I suggest those companies be very upfront in the recruiting process. They should share why things went down the way they did, what they learned from that, and how they plan to stick to their values going forward. It’s interesting to see such a low percentage (at 15%) of people saying they would go back. I think a lot of it has to do with how companies handle layoffs in this round. More

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    Bold Predictions & Benchmarks: Master Tech Hiring in 2024 (VIDEO)

    What do industry experts predict for tech recruitment this year? In this on-demand webinar, you’ll learn what to expect in 2024, what benchmarks they turn to (especially in what’s expected to be another whirlwind year), and where the inescapable topic of AI fits into it all. 

    Related: The Future of Tech Hiring: 8 Bold Predictions for 2024 

    Hear from:

    SVP of People Strategy, Hired, Sam Friedman

    VP of Strategic Consulting, Criteria, Brad Schneider 

    Director of Talent and Recruitment, Collective Health, Dana Dillard

    Community and Talent Acquisition Advisory Lead, Ashby, Shannon Ogborn

    Read an excerpt of the conversation here and scroll down to access the full webinar. 

    What is one bold prediction or hot take on how tech hiring will change in 2024?

    Dana Dillard

    Hot takes of 2024 seems to be a very big discussion topic in our industry right now. From a recruitment perspective, I think a lot about the importance of elevating the candidate experience. I think we can all agree we’ve got some work to do as a TA function in helping candidates have a great experience no matter who they’re interacting with, no matter the outcome.

    We need to make sure we’re elevating the experience and helping candidates understand the mission of the companies they’re considering and what’s in it for them. Candidates have been through a lot. There’s been a lot of uncertainty. A lot of people have gone through layoffs for the first time in their careers or have seen friends and colleagues get impacted.

    Anchoring on connecting with candidates, elevating the experience, and helping them understand the value you’re offering will be critical this year.

    Brad Schneider

    I think tech hiring will pick up. I view it like a pendulum. When the Fed rate was low and money was cheap, there was a mentality of growth at any cost. There was an enormous amount of hiring, especially in tech. As interest rates increased, it became more and more expensive to borrow. Some organizations couldn’t get loans. There was a need to become profitable and to do so quickly was through layoffs. So you had a tremendous number of layoffs in the tech space.

    People say the one constant is change. A lot of that change is driven by advances in technology. You need people to build that technology and you need people to service it. Salespeople, customer service reps, engineers, and so on. Artificial intelligence is getting really exciting and hot now. Tech companies once again will lead the way in cutting-edge technology. That will lead to more recruiting. I think there will be a turnaround in the second half of this year.

    Sam Friedman

    My bold take is that we will see a new talent market emerge. A lot of what TA professionals are working with right now is a push to scale back on either fully remote or hybrid schedules. We’re seeing this return to the office.

    You’ve had previously happy employees who’ve had that flexibility start to pick their heads up. They might be in great jobs, like the pay they’re receiving, or like the brands they are working for. But I believe that return-to-office will ultimately create this new talent marketplace. Those individuals who still want that flexibility and to be in charge of their day-to-day will pick their heads up for opportunities where they previously had it.

    Watch the full collaborative panel discussion to discover:

    How to facilitate a mindful selection process using AI and assessments

    The importance of authentic employer branding 

    How to elevate the candidate experience 

    Insights into remote work and workplace flexibility  More

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    Veho’s Multi-Faceted and Candidate-Centric Interview Process for Better Alignment

    Third in the Tech Employers Leading the Way Series

    Editor’s Note: Tech Employers Leading the Way recognizes companies that innovate and work to improve the hiring experience for both their hiring managers and the tech candidates they seek. In this series, we’ll dive into what works for them and what they’ve learned. Sharing these stories and learnings supports our company vision to make hiring more equitable, efficient, and transparent.

    Hired’s List of 2023 Top Employers Winning Tech Talent highlighted companies across a variety of segments and industries creating tech hiring processes and experiences embracing principles such as equity, efficiency, and transparency. 

    Among those leading the way is Veho, an organization revolutionizing package delivery and returns. Patrick Vitulli, Tech Recruiting Manager, shares how Veho created its candidate-centric interview process and uses Hired to reach top candidates. 

    Our mission is to reinvent the world of delivery and returns in the e-commerce era by combining technology and logistics into a customer-centric organization. We build from the ground up to create new products and we compete against some top global companies daily.

    Describe a process you’ve implemented to improve candidate experience and the hiring process

    When I joined Veho, we were creating the interview process. Especially for engineers, we wanted to emulate what it would be like daily for an engineer working here. We created a three-part interview, which is back to back to back interviewing. 

    First: Evaluate alignment

    We dive into company culture, make sure you’re a team fit, and see how you align with the values of the organization. 

    Second: Architecture interview for thought process (for engineers) 

    The second part of this is an architecture interview for engineers specifically to design a system and walk us through the thought process. 

    Third: Case study for practical application

    The last portion is a case study, which is a realistic example of what it’s like working at Veho. Candidates get a set of broken code and have the opportunity to fix it and get it working again.

    What are some of Veho’s strategies for maintaining a strong employer brand?

    Two of the biggest metrics we discuss is our on-time delivery rate, which is 99.9%. To quantify that for you, it means one in every 1000 packages is delivered late. The second part of this is our customer satisfaction score which is regularly 4.9 out of 5. Both metrics are excellent and very efficient for this industry. 

    As an employer brand, when we deliver on behalf of organizations such as Lululemon, Kroger, Saks Fifth Avenue, and Nordstrom, we are an extension of these brands in the delivery process. This is how we’ve built our brand throughout the years.

    How has collaboration between hiring managers and TA teams improved efficiency?

    At Veho, our recruiters collaborate with hiring managers regularly. We do all intake calls before we post any role. We make sure candidates meet certain competencies. Every candidate goes through the same process to avoid any bias. 

    We meet with our hiring managers multiple times during the week to ensure the process is going well, the candidates are a good fit, and we’re hiring the best person for each role.

    Using a tool such as Hired at Veho allows us to reach out to highly qualified candidates quickly. It also helps reach out to more folks than we typically would be able to, especially those who are underrepresented. 

    Veho sees a 60% interview acceptance rate and an 80% offer close rate with Hired

    Our response rate [using Hired] is far higher than you would see on a typical seat for LinkedIn recruiter, which is typically 13% to 14%. We track throughout the whole process and work with our Hired account and customer success managers to make sure we’re on board with these candidates. 

    For example, they’ve shared that our average time to hire using the tech recruitment platform is 29 days. That’s 18 days faster than the average for companies our size. Feedback like that helps us know we’re running an efficient hiring process and helping our hiring managers reduce the cost of vacancy (CoV). 

    Check out all the featured tech employers in the series so far: 

    Firstup Puts People First to Help Companies Speed Up

    One Medical Focuses on Authenticity in the Candidate Experience More

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    Understanding “Quality of Hire” in Tech Recruitment

    Why is the recruiting metric known as “quality of hire” so important? In the fast-paced world of tech recruitment, finding the right candidates is like hunting for treasure. You receive countless job applications, but how do you separate the gems from the rubble? In this article, we’ll explore what quality of hire means, how to assess it, and why it’s crucial for your tech company’s success. 

    We’ll also share data from past Hired research to illustrate how tech employers define it and how to create recruitment and hiring strategies to make the most of your recruitment team’s capacity. 

    What is Quality of Hire or QoH?

    Quality of hire is a recruiting metric that evaluates how well a new employee performs and fits into your company culture after being hired. In simple terms, it gauges whether your hiring decisions result in successful, productive, and satisfied team members.

    As tech workers found themselves laid off during the “tech winter” of late 2022 – early 2023, inbound applicants flooded employers’ inbound channels. As a result, TA teams found themselves drowning in applicants, but not enough qualified ones. 

    Recruiting teams also began interviewing more applicants per role. According to Hired survey data in The Future of Tech Hiring: 8 Bold Predictions for 2024, 68% of employers said they were interviewing more candidates for each role than they were a year ago. 

    In fact, 54% of surveyed employers of all sizes agreed that Quality of Hire would be their top hiring KPI going into 2024. 

    What does Quality of Hire mean? In The Tech Hiring Tightrope, Hired’s annual research study of tech hiring and salaries, surveyed employers’ top three definitions of a “quality candidate” were: 

    1) Has 6+ years of experience in the industry 

    2) Is “in-demand,” i.e. involved in the hiring process with multiple companies 

    3) Fulfills a senior-level role

    How does your organization define Quality of Hire? It may be different from one employer to another. 

    How to assess Quality of Hire (QoH)

    Assessing Quality of Hire involves several steps:

    1. Define success criteria 

    Before you start evaluating Quality of Hire, establish clear criteria for success. What skills, experience, and qualities should your ideal candidate possess? Define these benchmarks to guide your assessment.

    2. Performance metrics 

    Track an employee’s performance over time. Metrics like productivity, meeting goals, and contributing to projects are useful indicators. Compare these metrics with your defined success criteria.

    3. Feedback and reviews 

    Regularly seek feedback from supervisors, peers, and the employee. Are they meeting expectations? Are they a positive influence on the team? Honest feedback can reveal a lot.

    Hired partner Textio contributed this blog, Want To Hire More Women? Focus On Performance Feedback, check it out!

    4. Retention rate

    Analyze how long employees stay with your company. A high turnover rate may indicate a problem with your hiring process. One of the best ways to retain an employee is to, of course, start with the right candidate. 

    Because Hired provides such transparency in the tech recruiting process, it’s easier for both employers and candidates to enjoy better matches. For employers, this also translates into higher acceptance rates averaging 60% or more. 

    Related: Difficulty Keeping Your Top Tech Talent? This Could Be Why (& What to Do About It)

    5. Cultural fit 

    Assess how well the employee aligns with your company’s culture. Do they embrace your values and work well with others? 

    Note the “fit” is based on values and working styles or team dynamics. At Hired, we caution against using “fit” as similar backgrounds, networks, education, or experiences. In these categories, we recommend a “culture add,” where a candidate helps diversify your team and its thinking.

    6. Self-assessment 

    Ask employees to evaluate their own job satisfaction and performance. Their self-perception can provide valuable insights.

    Separating high-quality candidates from the rest

    In a sea of applicants, it can be overwhelming to discern quality candidates. Here’s how to do it effectively:

    Prioritize skills 

    Focus on candidates with the essential technical skills and experience you need. Use resume screening and pre-employment assessments to filter out unqualified applicants.

    Behavioral interviews 

    Conduct behavioral interviews to assess a candidate’s problem-solving abilities, teamwork, and adaptability. Ask for specific examples of their past achievements.

    Reference checks 

    Contact references to learn about a candidate’s work ethic, attitude, and contributions in previous roles.

    Technical assessments 

    Administer technical tests or coding challenges to gauge a candidate’s proficiency in their field or assess specific tech skills.

    Want to run a coding challenge campaign to tap into a new market or surface candidates with hard to find skills or for hard to find roles? We’ve got you covered from start to finish. 

    Why is Quality of Hire an important recruiting metric?

    Quality of Hire is more than just a statistic; it’s a predictor of future success and retention. When you make quality hires, your company benefits in several ways:

    Better performance

    High-quality hires are more likely to excel in their roles, meet or exceed goals, and contribute positively to your company’s success.

    Team cohesion

    They integrate seamlessly into teams, enhancing collaboration and overall team performance.

    Retention

    Quality hires tend to stay longer with your company, reducing turnover and recruitment costs.

    Hired data shows candidates placed through our tech hiring platform have an 18% higher tenure with their employers.  

    Positive reputation

    Consistently making quality hires improves your company’s reputation in the job market, making it easier to attract top talent. This is one facet of employer branding, a long-term strategy for companies of all sizes.

    Conclusion

    In conclusion, “Quality of Hire” is a vital metric for tech hiring managers, engineering managers, and recruiters. It helps you identify candidates who not only have the right skills but also align with your company’s culture and values. By prioritizing Quality of Hire, you can ensure the success and longevity of your tech team and your company as a whole.

    See how Hired helps employers find the right candidates, right away, from around the world. Request a demo. More

  • in

    Want to Hire Tech Talent in Mexico? 7 Reasons Why It’s Popular

    Interview requests for tech talent in Mexico top the global list; acceptance rates average 55% 

    Want to hire tech talent in Mexico? You’re not alone. Mexico continues to grow as a source for candidates for tech roles, attracting the attention of recruiters, talent acquisition teams, and engineering hiring managers worldwide. With a growing pool of skilled engineers, developers, and engineering managers, Mexico offers a compelling value proposition for tech companies expanding their teams. 

    In fact, Hired’s tech recruitment platform data shows global interview requests for talent based in Mexico are more than double those for the next country on the list. More than half, or 55% of jobseekers on Hired accept the request for an interview.

    In this article, we will explore 7 reasons why many tech companies are “nearshoring” (vs. offshoring) by pursuing candidates for tech roles in Mexico and why Mexico is an attractive location to hire tech talent.

    1. Mexico has a thriving tech ecosystem

    Mexico boasts a thriving tech ecosystem that has been steadily growing over the past decade. Several factors contribute to the vibrancy of this ecosystem:

    Education and Training

    Mexico is home to a strong educational system, with many universities and technical schools offering top-notch engineering and computer science programs. Graduates from these institutions are well-prepared for tech roles.

    Cultural Alignment

    Mexican tech professionals often share cultural similarities with their North American counterparts, making collaboration easier and enhancing team dynamics.

    Time Zone Advantage

    Mexico’s time zone aligns well with the United States, making real-time communication and collaboration between cross-border teams convenient. The majority of Mexico aligns with the central time zone, although it stretches across all four in the contiguous US.

    Top tech cities in Mexico include Guadalajara, Merida, Mexico City, Monterrey, and Queretaro.

    2. Companies gravitate to hiring in lower-cost-of-living markets

    Tech companies are increasingly looking for cost-effective solutions without compromising quality. 

    In Hired’s Tech Hiring Tightrope: Balancing the Skills & Shifts in Talent research report, proprietary talent marketplace data showed tech employers were interviewing in fewer time zones and markets in 2023 compared to 2022. 

    While companies, especially larger ones, were choosing to list more roles as in-office or hybrid instead of remote, some chose to focus remote roles or even open hubs in smaller, nontraditional tech markets.

    Survey data

    When asked if their company hired in smaller markets or internationally to reduce compensation costs, 23% of employers said definitely, while 17% said probably. 

    When asked where their company was hiring or planning to hire to reduce compensation costs 16% of employers identified Canada or Mexico, while 18% said Latin America. 

    Hiring tech talent in Mexico often provides a significant cost advantage compared to hiring in the United States or Canada. Salaries for skilled professionals in Mexico are competitive but generally lower than those in North America, offering a compelling value proposition.

    3. Mexico maintains a skilled tech workforce

    Mexico has a rich talent pool of engineers, developers, and engineering managers. Many Mexican tech professionals have experience working for multinational companies and are well-versed in the latest technologies and best practices. This experience makes them valuable additions to tech teams.

    Related: Hired partners with organizations to help companies navigate compliance, payroll, and tax issues across borders. 

    4. Many tech workers in Mexico are bilingual

    English proficiency is common among tech professionals in Mexico. Many engineers and developers are fluent in English, which is crucial for seamless communication and collaboration with international teams and clients. 

    Based on local census sources, nearly 13% of Mexico’s population, or 15.7 million individuals speak English. The majority live near the US border and in the larger cities.

    5. Mexico’s government has invested in STEM education for years to support the tech industry

    The Mexican government has taken many initiatives to support the growth of the tech industry over the years. Programs like ProMéxico and Prosoft aim to promote technological development and innovation, offering incentives for tech companies to establish a presence in the country.

    6. US finds great cultural compatibility with tech workers in Mexico

    Cultural compatibility plays a significant role in building cohesive teams. Mexican professionals are known for their strong work ethic, dedication, and adaptability. They are often quick to adapt to company cultures and values, making integration smoother.

    7. Scalability

    Mexico offers scalability options for tech companies ready to expand their operations. Whether companies need a handful of engineers or an entire development center, Mexico’s flexible labor market frequently accommodates corporate growth needs.

    Hired helps companies source tech talent in Mexico

    Mexico’s tech talent pool, cost-effectiveness, cultural compatibility, and government support make it an attractive destination for tech companies eager to hire engineers, developers, and engineering managers. With a thriving tech ecosystem, skilled workforce, and the advantages of time zone alignment and language proficiency, 

    Mexico presents a compelling case for tech talent acquisition. By considering Mexico as a strategic location for hiring tech talent, recruiters and hiring managers tap into a valuable resource. This helps to drive innovation and growth in their organizations.

    How may we help you find tech (or sales) talent for your open roles? 

    Let us show you how Hired works for employers when you request a demo.

    See all of Hired’s talent sourcing, technical assessments, DEI hiring, employer branding, recruiting events, and coding challenges products, services, and technical recruiting solutions in action. More