Category: Contingent Workforce Management

MSP Upgrade Cuts Contingent Worker Hiring Pace by 50% for Food Producer

Posted on by akessler
MSP Upgrade Cuts Contingent Worker Hiring Pace by 50% for Food Producer

Contingent Workforce

MSP Upgrade Cuts Contingent Worker Hiring Pace by 50% for Food Producer

PeopleScout helped this food and beverage employer smoothly integrate newly acquired locations while cutting time-to-fill rates nearly in half.

885 Annual assignments
84 Locations supported over three years
50 % Reduction in time-to-fill

Situation

This food and beverage employer purchased three distributors in late 2022 and sought PeopleScout’s support with the transition as their managed service provider (MSP). They needed support integrating the new facilities into their vendor management system (VMS)—including manager access, incumbent supplier onboarding, and transitioning temporary workers in accounting and finance, administration, business and professional services as well as industrial and technical roles. The client had also implemented a new policy requiring workers on-site to be vaccinated for COVID-19 which they needed help enforcing with suppliers.

The organization was utilizing an outdated and manual requisition request process, due in part to the fact that many industrial supervisors struggled with technology and spent most of their time on the production floor. This often resulted in missing information or other errors on the requisition requests, which required information gathering from the hiring manager, costing the team valuable recruiting time.

Solution

PeopleScout’s MSP team developed a technical solution that effectively integrated the newly acquired facilities, including a workflow that met hiring manager needs to keep the contingent hiring process moving smoothly. To improve access to the client’s VMS, PeopleScout facilitated a transition to a new single sign-on technology. Additionally, the MSP team developed an easy-to-use form to collect all necessary reacquisition information upfront, reducing time-to-fill.

PeopleScout worked with the client to identify and implement several other process improvements. The team developed an onboarding documentation storage process to aid suppliers and expedite audits, as well as a supplier optimization process that removed 17 inactive suppliers. The employer also added supplier town hall meetings to address trends, market issues, changes to the program and more.

The MSP team coordinated with all suppliers to ensure all on-site workers had received the COVID-19 vaccination and collaborated with managers to allow unvaccinated employees to work remotely. PeopleScout also established a new sourcing process to ensure that candidates being placed at corporate locations were up to date on vaccinations.

Finally, PeopleScout began working with the client’s newly acquired facilities two months before the final sale to help make sure the locations were ready and that managers at the new sites were integrated into the organizations systems on the first official day of the transition.

Results

PeopleScout’s updates to the client’s program have eliminated a massive administrative burden on both suppliers and hiring managers. Leaders at the client’s new sites applauded the smooth integration into the new systems. The technology and process improvements led to a 100% compliance score and an overall reduced time-to-fill, with some finance and industrial roles seeing a 50% improvement.

At a Glance

  • COMPANY: Food and Beverage Producer and Distributor
  • INDUSTRY: Consumer Goods
  • PEOPLESCOUT SOLUTIONS: Managed Service Program
  • LOCATIONS: 84 locations across North America
  • About the Client: This global leader produces and distributes some of the world’s most well-known food and beverage products across 19 countries.
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Serving Up a Winning Contingent Workforce for Sporting Events

Posted on by akessler
Serving Up a Winning Contingent Workforce for Sporting Events

Hospitality Contingent Workforce

Serving Up a Winning Contingent Workforce for Sporting Events

PeopleScout helped a food service provider manage contingent labor hiring for large events, delivering 100% customer and supplier satisfaction.

73,000 Annual assignments
27 % Diversity spend, exceeding client goals
645 k Dollars in cost savings
100 % Customer and supplier satisfaction

Situation

This food service provider supports large public and sporting events at arenas and stadiums requiring thousands of contingent workers. In order to scale up and down to staff these peak season events and maintain their steady, day-to-day contingent worker staffing needs, the organization engaged PeopleScout as their managed service provider (MSP).

Further, the client was also struggling to create detailed purchase orders for each shift of an event. Their vendor management system (VMS) was not set up to support shift timecards, creating an excessive burden on suppliers and managers to create multiple job postings, work order assignments and timecards.

Solution

PeopleScout’s MSP team developed a solution that allows the client to scale up and down to meet peak season needs and is managed by PeopleScout’s highly trained program specialist to provide a high-level of support. This peak season strategy includes proactive planning for high-volume large events, including weekly meetings with the PeopleScout team, the client and suppliers to provide market analysis and ensure that the client is able to fill essential roles for the events. PeopleScout also conducted a full-scale market rate analysis for all active job titles to inform candid conversations about competitive pay rates.

PeopleScout is also working with the client to update their VMS to streamline the hiring manager, supplier, project manager and user experience. The new technology reduces manual tasks and provides more visibility into trends, spend, and overall program performance, so the client can operate more strategically.

Finally, monthly audits of the client’s internal accounts payable systems are conducted to help manage compliance and onboarding requirements to mitigate risk, provide visibility and reporting, and manage quarterly performance.

Results

The updates to the client’s program have eliminated a massive administrative burden on suppliers and hiring managers, leading to 100% customer and supplier satisfaction. The PeopleScout MSP solution achieved a cost savings of more than $645,000, with additional cost savings expected following the full deployment of the new VMS. At one high-profile event, proactive strategy planning resulted in placement of over 3,000 contingent workers. As an added bonus, PeopleScout has exceeded the client’s DE&I goals, with 20% of suppliers considered diversity suppliers and a 27% increase in diversity spend.

At a Glance

  • COMPANY: Food Service Provider
  • INDUSTRY: Food Service and Facilities Services
  • PEOPLESCOUT SOLUTIONS: Managed Service Program
  • ANNUAL HIRES: 73,000 contingent assignments annually
  • About the Client: This multinational food service and facilities services provider supports organizations across healthcare, business, hospitality, education, prisons and more.
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Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution

Posted on by akessler
Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution

MSP for Manufacturing

Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution

PeopleScout helped a leading door and window manufacturer achieve a $500K cost savings within twelve months of launching an effective MSP program. Plus, PeopleScout introduced Recruiter On-Demand™ to support an increase in demand for permanent recruitment, as part of a total talent solution.

1,500 Annual contingent hires
500,000 Dollars in cost savings in the first year
250 Full-time hires over 11 months

Situation 

PeopleScout has partnered with this door and window manufacturer since 2017, providing Managed Service Provider (MSP) support for contingent talent solutions in the areas of light industrial, technology and professional roles. Initially, PeopleScout supported locations in the U.S. only, but in 2021 expanded into Canada, playing a key role in supplier vetting, contract negotiations, data collection and manager and supplier trainings.  

The organization was also having challenges filling full-time roles, providing the opportunity for PeopleScout to supplement their contingent staffing support with our Recruiter On-Demand™ solution.

Solution

Over the course of this partnership, PeopleScout’s MSP team has made several technology and process improvements, including a vendor management system (VMS) transition, streamlined documentation requirements, a new approach for managing and improving supplier performance, and a candidate experience assessment.

The team also collaborated with PeopleScout’s Recruiter On-Demand™ (ROD) team to conduct a discovery session to understand the primary areas of increasing demand for full-time roles. Together, the teams developed and implemented an ROD strategy, focused on ten primary locations. The ROD solution included a daily applicant tracker for client visibility into the talent pipeline, and marketing and employer brand support. PeopleScout’s recruiters sourced qualified candidates, who were then interviewed by the client’s hiring managers.

The candidate experience assessment, conducted by PeopleScout’s technical solutions architects, identified opportunities to improve the look and feel of the organization’s careers site, particularly to appeal more to full-time candidates.

Results

The updates PeopleScout has made to the client’s technology and documentation processes have eliminated administrative burdens on both suppliers and hiring managers. The MSP solution achieved cost savings of more than $500,000 in the first year alone.

PeopleScout also seamlessly integrated a Recruiter-On-Demand™ program to support full-time hiring needs, as part of a total talent solution for the door and window manufacturer. The ROD program generated 250 hires over just 11 months across the selected 10 locations.

At a Glance

  • COMPANY: Door and Window Manufacturer
  • INDUSTRY: Manufacturing
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing, Managed Service Program, Total Talent
  • ANNUAL HIRES: 1,500 contingent hires and 250 full-time hires
  • LOCATIONS: U.S. and Canada
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Answering Your FAQs on MSP

Posted on by akessler

Answering Your FAQs on MSP

Download this fact sheet to answer all your questions on managed service provider (MSP) solutions.

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Learn more about MSP from PeopleScout.

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Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution
Case Studies

Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution

Situation  PeopleScout has partnered with this door and window manufacturer since 2017, providing Managed Service Provider (MSP) support for contingent talent solutions in the areas of light industrial, technology and professional roles. Initially, PeopleScout supported locations in the U.S. only, but in 2021 expanded into Canada, playing a key role in supplier vetting, contract negotiations, data…

The Skills Crisis Countdown: The Clock is Ticking on Tackling Skills Gaps
Research Report

The Skills Crisis Countdown: The Clock is Ticking on Tackling Skills Gaps

Our latest research shows a detailed picture of the current state of skills in the global workforce and how HR leaders are preparing for the impending skills crisis

Read the Research
Inside the Candidate Experience
Research Report

Inside the Candidate Experience

Download our free Inside the Candidate Experience report for the latest research exploring the disparity between candidate expectation and reality.

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PeopleScout Company Overview

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PeopleScout Company Overview

Global talent solutions providing unmatched scalability to meet the professional, specialist, volume and contingent hiring needs of organizations of all sizes and sectors.

Download this fact sheet to learn more.

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Learn more about PeopleScout’s award-winning talent solutions.

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Dig Into More Talent Insights

Ultimate Recruitment Process Outsourcing Toolkit
Toolkit

Ultimate Recruitment Process Outsourcing Toolkit

Our complete six-piece toolkit gives you the essential information on how RPO can boost your recruitment outcomes.

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Recruitment Process Outsourcing (RPO) Buyer’s Guide
Buyer’s Guide

Recruitment Process Outsourcing (RPO) Buyer’s Guide

Check out this in-depth exploration of RPO and how it can help you achieve your recruitment goals.

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Global Hiring and Labor Market Trends Affecting Recruitment in APAC 
Article

Global Hiring and Labor Market Trends Affecting Recruitment in APAC 

Check out these labor market trends in APAC and their effect on talent acquisition in the region.

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Connect More™: How PeopleScout is Elevating Your Connection to Talent 

Posted on by akessler

In a world where the talent market is constantly evolving, PeopleScout knows that cultivating deeper, more meaningful connections is imperative. Now, as we unveil a refreshed identity, we build on the service we’ve delivered for over 30 years, delivering more insights, more imagination and more integrity.  

Connect More™ is our guiding principle. It reflects our unique approach that blends experience, insight and action to help employers build powerful connections with talent. 

We’re redefining what it means to a be talent acquisition partner.  

Too often we hear from clients about experiences they’ve had with other talent solutions providers in which one thing was said during the sales pitch only to have the stakes change once the ink was dry. Or times they’ve been forced into cookie-cutter processes that don’t support their unique needs. 

That’s why at PeopleScout we strive to do the opposite. We believe in keeping promises. We believe that listening creates a better experience and leads to better outcomes. We’re not perfect, but if we mess up, we make it right. 

We’re proud and humbled to say that this philosophy has led to some of the most enduring client relationships in the talent acquisition space—a testament to our commitment to creating connections that are truly meaningful. 

PeopleScout’s refreshed brand is grounded in differentiators that drive tangible value for our clients:  

Proven Delivery 

For over 30 years, PeopleScout has built our services on integrity, building trust through transparent communication and a proven track record of success.  

What That Means for You: 

You get a talent partner like no other to help you tackle your workforce challenges—large and small. Plus, as part of the TrueBlue family of brands, we are uniquely positioned to handle complex talent programs like no other firm in the world. 

Meaningful Connections 

PeopleScout has the demonstrated ability to connect with the most sought-after talent. From software engineers to neonatal nurses.  From Seattle to Singapore. 

What That Means for You: 

Our global delivery centers offer talent solutions across North America, EMEA and APAC, meaning we can grow with you as your needs change.  

Talent Advisory 

With one of the largest in-house talent advisory teams in the industry, we’ve got a wide range of experience with talent audiences across industries, skill sets, demographics and geographies. We are problem-solvers, creatives, organizational psychologists and operational experts.  

What That Means for You: 

Whether you need an award-winning candidate attraction campaign, a differentiated employer brand, market insights to fuel big decisions, a memorable candidate assessment experience or DE&I consulting—we have fresh ideas to help you stand out as an employer of choice. 

Data & Insights  

Sometimes you don’t know what you don’t know. We’re dedicated to arming you with the sharable, digestible insights you need to tell the right stories in your business so you can stand out and get ahead.  

What That Means for You: 

You can capitalize on the latest market analysis, AI tools, thought leadership and competitive intelligence to supercharge your people strategy.  

Human Touch  

We bring a personal touch to our engagement with passive candidates that ignites excitement about your opportunities. From the second we grab the candidate’s attention to the minute they walk through the door—we deliver a seamless candidate experience that turns applicants into advocates. 

What That Means for You: 

Whether you need to fill executive, leadership or niche roles our global search teams deliver top-notch, future-ready talent. 

Digital Transformation  

As digital transformation reaches talent acquisition, we’re helping our clients get ahead. Affinix™, PeopleScout’s proprietary talent technology suite, provides candidates with a digital-first experience and leverages AI, automation and data analytics to remove friction and improve outcomes. Plus, we’re on top of the latest tech solutions, testing new ways that AI and machine learning can create results for our clients. 

What That Means for You: 

You get an upgraded tech-stack that delivers a consumer-like, mobile-first experience for candidates and a frictionless, informed journey for hiring managers. 

Ultimate Scalability  

We’ve scaled up to handle the full-cycle, global recruitment of tens of thousands of annual hires for one of the world’s largest hotel brands. We’ve scaled down to hire a few dozen specialist engineers for an automotive start up. And we’ve handled everything in between.  

What That Means for You: 

Whether you need specialty, professional, volume or contingent hiring solutions—our unique blend of insight, creativity and technology creates an employer brand-steeped candidate experience talent will never forget.  

Speed and Agility  

In this tumultuous era, talent acquisition teams are struggling to respond quickly to sudden fluctuations and hiring peaks. That’s why we’ve created flexible solutions like Accelerate™ and Amplifiers™. Purpose-built for modern talent programs, our solutions provide employers with the agility required to compete in today’s talent market, address immediate hiring needs and deliver results faster.   

What That Means for You: 

You get focused support for peak hiring, hard-to-fill positions, compressed time frames and more—however it works best for you—without the lengthy implementation.  

Value  

Organizations of all sizes trust PeopleScout’s efficient recruiting processes and quick-deploy solutions that improve time-to-hire and retention rates, delivering the best talent matches and maximizing ROI. 

What That Means for You: 

We measure our every move, idea and recommendation—so you know you’re spending your budget where it matters most. 

Diversity, Equity & Inclusion (DE&I) 

DE&I is top of mind for talent leaders, including all of us at PeopleScout. While much progress has been made, there’s still work to be done. That’s why every PeopleScout solution has a DE&I component. PeopleScout integrates DE&I best practices into every solution, helping clients build a more diverse and inclusive workforce.   

What That Means for You: 

We’ll help you gain a better grasp of where you are, where you need improvement and how to find the right path forward. 

Are You Ready to Elevate Your Connection with Talent? 

PeopleScout’s deep expertise in recruitment, employer branding, talent attraction and recruitment technology makes us a recognized leader in talent acquisition. We connect clients around the world with the talent they need through Recruitment Process Outsourcing (RPO), Managed Service Provider (MSP), Total Workforce Solutions, and talent and technology advisory services.  

If you’re ready to elevate your connection with talent, let’s connect! 

Managed Service Provider Solutions

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PeopleScout MSP Solutions

Embrace workforce agility with contingent labor through PeopleScout’s Managed Service Provider (MSP) solutions. PeopleScout MSP supports everything from requisition through to invoicing and payment for temporary, temp-to-hire, direct hire, direct sourcing, payrolling, independent contractor (1099) administration, statement of work (SOW) engagements and other complex services across all skill categories and geographies.

Download this fact sheet to learn more about PeopleScout’s MSP solutions.

Download Fact Sheet

Learn more about PeopleScout’s Managed Service Provider (MSP) solutions.

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Dig into More Talent Insights

Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution
Case Studies

Contingent Workforce Solution Opens the Door to a $500K Cost Savings & a Total Talent Solution

Situation  PeopleScout has partnered with this door and window manufacturer since 2017, providing Managed Service Provider (MSP) support for contingent talent solutions in the areas of light industrial, technology and professional roles. Initially, PeopleScout supported locations in the U.S. only, but in 2021 expanded into Canada, playing a key role in supplier vetting, contract negotiations, data…

The Skills Crisis Countdown: The Clock is Ticking on Tackling Skills Gaps
Research Report

The Skills Crisis Countdown: The Clock is Ticking on Tackling Skills Gaps

Our latest research shows a detailed picture of the current state of skills in the global workforce and how HR leaders are preparing for the impending skills crisis

Read the Research
Inside the Candidate Experience
Research Report

Inside the Candidate Experience

Download our free Inside the Candidate Experience report for the latest research exploring the disparity between candidate expectation and reality.

Read the Research

Food Processing Company Slashes Costs, Boosts Compliance with Contingent Workforce Tech Overhaul

Posted on by nfuqua
Food Processing Company Slashes Costs, Boosts Compliance with Contingent Workforce Tech Overhaul

MSP – Contingent Hiring Solution

Food Processing Company Slashes Costs, Boosts Compliance with Contingent Workforce Tech Overhaul

PeopleScout helped a leading food processor centralize and streamline its contingent hiring process through targeted technology improvements resulting in $500k annual cost savings and 19% payroll spend reduction.

500 k annual cost savings
19 % reduction in payroll spend
100 % compliance audit scores

Situation 

A leading food processing company was struggling to successfully utilize its contingent labor program across all divisions of the business. The challenges spread across 67 of the organization’s locations in 23 states, where the existing business model enabled them to operate independently.

This decentralization resulted in varied spending between locations, increased compliance risk and an unequal distribution of contingent opportunities across the program. Just ten suppliers held 84% of the program spend, which drove diversity spend below 5%.

The client had also recently announced an initiative to move several satellite offices into the company headquarters, requiring contingent workers to either relocate or work remotely when possible.

On top of this, the client was experiencing reporting limitations within their existing vendor management system (VMS), challenges with an oversaturated supply base and difficulty identifying workers for unique healthcare assignments related to worker safety during the COVID-19 pandemic.

To solve these issues, the organization approached PeopleScout to create a centralized contingent hiring solution.

Solution 

PeopleScout deployed several centralized technology process improvements across all client locations. This included implementing a more robust and enhanced VMS to improve the experience for hiring managers, suppliers and project managers. The new VMS also offered better reporting and visibility into the program spend, supplier performance, requisition management, time-to-fill and more. PeopleScout also provided the client with data for competitive benchmarking. 

PeopleScout initially experienced resistance to the new process from both managers and suppliers but overcame that obstacle by highlighting benefits like cost savings, competitive rates, expedited payment terms and more.  

As the company relocated workers, PeopleScout proactively reached out to offices where contingent workers were assigned to determine if staff could work remotely and provided strategies to assist in retention and filling vacancies. 

PeopleScout also provided Talent Advisory consulting services, including onsite meetings to review the value of MSP programs and total talent management solutions, and to discuss DE&I trends and goals with the client’s DE&I taskforce.

Results 

PeopleScout’s program led to a cost savings of $500k in annual billing and reduced payroll spend by 19% while increasing diversity spend to $2.7 million. Additionally, in interviewing 333 workers, project managers maintained an overall compliance audit score of 100%. Partnerships have been established with knowledgeable suppliers to provide sourcing support for the challenging healthcare roles. 

“I am so very grateful for all that you have done and are doing for our location. You have made this very easy on this end. I truly can’t thank you enough.” 

Client Hiring Manager 

At a Glance

  • COMPANY: Food processing company
  • INDUSTRY: Consumer Goods
  • PEOPLESCOUT SOLUTIONS: Managed Service Program
  • LOCATIONS: 67 locations served in 23 states
Let’s Connect

Tech & Digital Skills: 5 Recruitment Strategies for Closing the Skills Gap

Posted on by akessler

There are a host of new and emerging tech disciplines—the metaverse, blockchain, generative AI, cybersecurity and more—that are changing the way we work and the kind of work we do. Many jobs that were previously done by humans are now done by machines. Many new jobs are emerging that require new and changing skill sets and organizations are struggling to find the talent they need to keep up as tech and digital skills gap grows.  

According to World Economic Forum, it is estimated that by 2030, “approximately 85 million jobs could go unfilled globally because of a lack of applicants with the skills to take them, which could result in $8.5 trillion (USD) in unrealized annual revenues.” 

Skills Shortage: Digital Age or Digital Deficiency? 

Salesforce’s 2022 Global Digital Skills Index surveyed 23,000+ workers across 19 countries and found the global digital skills readiness score is just 33 out of 100. No wonder that 64% of managers don’t think their employees are able to keep pace with future skill needs. Furthermore, 70% of employees say they haven’t even mastered the skills they need for their jobs today. Plus, a third (36%) of HR leaders say their sourcing strategies are insufficient for finding the skills they need. 

As organizations try to reinvent their business models to keep up with change, employers of all stripes—regardless of sector—must prepare their workforce for digital-first employment. By taking a skills-based approach to your talent acquisition strategy, you can move beyond your tired methods to find people with the right skills and competencies regardless of their degree or job history.  

Recruitment Handbook for Hiring Tech & Digital Talent

Download Now

Measuring the Technology Skills Gap 

As an HR or TA leader, you’re probably asking, “Which digital and tech skills should I prioritize?” 

Well, it depends. 

To plan for the skills of the future, you must know where you are today. Conduct a skills inventory of current employees, regardless of department. Then, run a technology skills gap analysis, looking at what’s available now and what you’ll need in the future based on your organizational strategy.  

This, combined with external labor market data on the availability of tech and digital skills, you’ll be able to understand which critical skills gaps are in place today, what skills are available in the market and what skills you’ll have to develop internally. 

Only one in four talent analytics teams currently use external market data.  

5 Skills-Based Talent Acquisition Strategies for Tech and Digital Talent 

Here are five strategies for closing the skills gap for your tech and digital roles. 

1. Assess for Adjacent Skills 

A crucial part of your skill inventory must be identifying skills adjacent to your critical skills which can be developed to bridge the gap. With the right capability and skills taxonomy in place—both for internal mobility and external hiring—you can tap talent with related skills to fill talent gaps through recruitment and upskilling.  

PeopleScout recently facilitated a reskilling project for a leading bank in the UK. We supported an evaluation of their customer service employees in call centers and bank branches to identify hidden skills. We evaluated hundreds of employees, surfacing many with complementary skills who are now involved in a development program to supply software engineering talent in the future.  

2. Don’t Overlook Candidates with Non-Traditional Backgrounds 

Identifying these complementary skill sets has the additional benefit of helping you surface non-traditional internal and external talent pools. These are candidates who possess the skills necessary to perform a role’s duties but may never have held a position with a tech or digital specific title. By taking a skill-based approach to tech and digital talent acquisition, you don’t limit yourself to a small talent pool with hard-to-find experience. This could also mean relaxing requirements around university degrees. Plus, it’s a great way to achieve diversity and social-mobility goals. 

technology skills gap

3. Develop Upskilling Opportunities 

Once you’ve found talent with adjacent skills, you’ll need an upskilling program to get them up-to-speed on their target role and for ongoing development of skills as new technology emerges. Learning and development programs are a great way to support cross-functional talent mobility. Plus, it can act as a big draw for recruitment, as more and more candidates say they value growth opportunities when considering a new job. According to the LinkedIn’s Future of Recruiting report, Advancement and Skills Development are in the top five most important priorities for candidates.  

4. Embrace Global Expansion  

With the explosion of remote work, organizations can widen their talent search beyond their office locations. By shifting your focus to talent location and skill set, rather than your business footprint, you benefit from a more diverse talent pool. Leverage labor market data to find emerging tech hubs where demand is still low. For example, several cities in Latin America have a growing supply of digital skills with moderate salary expectations. 

5. Look Outside the IT Department for Tech & Digital Skills

Technology advancement means departments across the organization—and across sectors—have become breeding grounds for addressing the IT skills shortage. In fact, according to Gartner, almost 40% of job postings for talent with digital skills come from outside of IT departments. The explosion of FinTech, MarTech and even HRIS means that there’s a plethora of digital talent in finance teams, marketing teams and HR teams. So, instead of looking for a data scientist, why not try tapping a financial analyst to get those much-needed analytical skills? 

How an RPO Partner Can Help You Secure Tech and Digital Skills 

Employers looking to grow their tech and digital workforce can benefit from the services of a recruitment process outsourcing (RPO) provider. Your RPO partner can help you adapt your attraction strategy to resonate with candidates with tech and digital skills, ensuring that you are sourcing talent with the required skills and identifying new ways to target candidates who fit these personas. Plus, an experienced RPO provider can assist you in building your talent pool from within your own organization, by consulting to develop an internal reskilling program. 

Get five proven strategies to attract, engage and hire the best tech professionals. Download our Recruitment Handbook for Hiring Tech & Digital Talent. 

PeopleScout Jobs Report Analysis – December 2022

Posted on by nfuqua

U.S. employers added 223,000 jobs in December, beating analyst expectations. The growth came despite rising interest rates aimed at slowing the job market. The unemployment rate dropped to 3.5%. Year-over-year wage growth fell to 4.6%.

jobs report infographic

The Numbers

223,000: U.S. employers added 223,000 jobs in December.

3.5%: The unemployment rate fell to 3.5 percent.

4.6%: Wages grew 4.6% over the past year.

The Good

December’s jobs report shows evidence the Federal Reserve’s strategy of increasing rates to provide a “soft landing” for the U.S. economy may be working. So, what would look like bad news in almost any other year is actually good news.  

The 223,000 jobs added to the economy is the smallest increase in the past years, as the Wall Street Journal reports, but it is still a healthy pace of job growth. Additionally, year-over-year wage growth slowed to 4.6%. Wage growth has remained stubbornly high over the past two years, and economists feared it could contribute to high inflation. December’s report helped allay some of those concerns.

The Bad

Though December’s job report was generally taken as good news, there are still some signs of unwanted weakness. As MarketWatch reports, layoffs in the technology sector are making an impact in the report. The business and professional services sector, which covers many tech roles, posted a decrease of 6,000 jobs. Additionally, while the labor force participation rate did increase in December, it still remains below prepandemic levels. This continues to contribute to the ongoing labor shortage.

The Unknown

Economists say that the slowing growth in December’s report will likely cause the Federal Reserve to slow the pace of interest rate increases aimed at slowing inflation. As the New York Times reports, the S&P 500 rose 2.3% with the release of the report. Investors have been eager for fewer and smaller interest rate increases. The Federal Reserve meets next on January 31.