Here is your November guide to the latest trends impacting the world of work. Every month, we provide perspective on the biggest news affecting the industry and explain what to expect as new trends continue to emerge.
THE EXPERIENCES OF BLACK WOMEN IN I.T. [UK] REPORT OFFERS RECOMMENDATIONS TO HELP EMPLOYERS IMPROVE INCLUSION
A report produced by Coding Black Females and the BCS, The Chartered Institute for IT, highlights the experiences of Black women in the IT sector in the UK and provides vital recommendations for employers to help improve inclusion and diversity within the sector.
“We have the numbers to show trends in this most exciting of industries, but also that all-important narrative – stories and comments from Black women in work right now.”
Charlene Hunter, MBE, CEO and Founder of Coding Black Females, says, “We have the numbers to show trends in this most exciting of industries, but also that all-important narrative – stories and comments from Black women in work right now.” Hunter continues, “They tell us what they have faced, what works well for them, what doesn’t work, where we can improve organizational approaches, what role diversity policies actually have and more.”
The report analyzes survey data, including qualitative interviews to extract the true experiences of Black women in IT, together with data from the Office for National Statistics (ONS), providing insights and recommendations for employers on how they can adapt their hiring practices to be more inclusive and attract more Black women into IT roles.
The report finds that long, prescriptive interviews, job ad language and lack of flexibility (or at least poor communication of flexible work options) impact the diversity of applicants for IT roles. Some of the talent attraction recommendations (quoted directly from the report) include:
- Ensuring all routes (academic and vocational) into the tech industry are considered when hiring for candidates at both entry and senior levels.
- Job ads should make obvious that options like school-hours work and school-hours extended leave are available, if they are. This is particularly important because Black women often report being the lead career in their families.
- Recruitment teams should review the inclusivity of the first human “sift” and consider limiting algorithms to prevent hiring to an organizational template.
- Outreach events in the local community (schools/colleges) and through social networks can help make it clear that a diverse range of candidates are welcomed.
GLOBAL FINTECH TALENT REPORT PROVIDES INSIGHTS INTO HIGHLY COMPETITIVE TALENT MARKET
Earlier this year, Robert Walters released their Global FinTech Talent Report, providing industry-specific market insights, hiring trends, information on local talent pools, recruitment advice and salary data for a comprehensive range of roles in FinTech. The report is broken down by each of the world’s leading FinTech hubs, including Australia, Japan, Mainland China, the Netherlands, Singapore, Spain, the United Kingdom and the United States.
The report finds a 176% increase in advertised FinTech jobs, making it an extremely competitive talent market. Employers will need to work hard to get in front of and attract anyone working in FinTech. And with an average tenure of just 1.5 years, retaining talent is going to be an equally important priority for employers. When it comes to gender diversity, there is much more work to be done in this sector – just 24% of FinTech talent identify as female.
EUROPE’S HOTTEST TECH START-UPS IMPACTING TALENT ACQUISITION AND THE FUTURE OF WORK
November’s issue of Wired [UK] covered a vast array of European tech start-ups attracting attention and investment in 2022. We’ve been through the list and picked out those focused on solving talent acquisition challenges and/or impacting the future of work:
[Germany] Apryl (apryl.co) provides employers with the only pan-European fertility benefits platform, and with one in seven couples requiring fertility treatment, it could be a distinct competitive advantage when it comes to talent attraction in Europe. $4.3m seed raised to date.
[France] Commune (commune.house) is a subscription-based co-living company targeting single parents with young children, with services that include childcare, legal assistance, TV streaming services and community events. For children, there’s tutoring and shared toys and equipment. With one in four French families living in single-parent households, a subsidized subscription would make an excellent benefit for employers to attract and support single parent employees. $1.1m seed raised to date.
[Portugal] Coverflex (coverflex.com) gives companies and employees a flexible compensation management platform to manage salaries, equity, bonuses, benefits, childcare, meals and more. As benefits start to expand and become more tailored, modern employers will need more flexible compensation management platforms. $6m seed raised to date.
[Sweden] Dework (dework.xyz) is a decentralized job marketplace for crypto and blockchain gig workers. Its goal is to enable decentralized autonomous organizations (DAOs) to hire and manage teams and projects, paying those who contribute with its own tokens. $4m pre-seed raised.
[France] Maki (makipeople.com) is a gamified skills assessment tool with the aim of replacing CVs. The tests assess candidates’ personalities, cognitive abilities, technical skills and soft skills. $11m seed funding raised to date.
[Spain] Payflow (payflow.io) sells a salary advance service to employers, but with the difference that the employer pays the commission if an employee withdraws a portion of their salary early (rather than the employee picking up the fee). This could be a great benefit for employers who employ blue-collar staff. $14.5m raised to date, last round: Series A.
[Portugal] Remote (remote.com) enables employers to hire employees and contractors globally, handling the complexity of doing so – from taxes and compliance to localizing pay and benefits. With the remote working boom of the last couple years, Remote enables employers to expand their talent pools beyond the boundaries of the countries within which they operate. $496m raised to date, latest round: Series C.
[Netherlands] TestGorilla (testgorilla.com) provides pre-employment screening, skill-based tests and assessments, giving all applicants an equal, unbiased opportunity to showcase themselves. They don’t just focus on job-specific and technical/knowledge skills, but also on cognitive abilities. $81.2m raised to date, last round: Series A.
[Isreal] Tevel (tevel-tech.com) is helping solve the challenge farmers face around the world in recruiting fruit pickers. Their AI-powered drones are tethered to a vehicle and can distinguish different types of fruits, assessing their size and ripeness before they pick them. $32.1m venture – series unknown.
[Spain] Vitaance (vitaance.com) offers life insurance that improves the well-being of employees and rewards them for living better through gamification. It rewards employees and teams that meet healthy physical, emotional and financial goals, improving the well-being of the teams. $3.4m pre-seed raised to date.
Continue reading about each start-up and more at https://www.wired.co.uk/article/europe-hottest-startups-2022
Funding data via Crunchbase / Wired UK
ICYMI: As the pay transparency agenda starts to gather momentum, don’t forget to check out our Guide to Pay Transparency for Talent Acquisition Teams feature in The Scoop back in July.
- The Scoop: Recruitment Trends & Industry Insights | May 2023 - May 31, 2023
- The Scoop: Recruitment Trends & Industry Insights | April 2023 - April 27, 2023
- The Scoop: Recruitment Trends & Industry Insights | March 2023 - March 30, 2023
- The Scoop: Recruitment Trends & Industry Insights | February 2023 - February 28, 2023
- Top 10 Talent Acquisition Trend Predictions for 2023 | The Scoop: January 2023 - January 26, 2023
- The Scoop: Recruitment Trends & Industry Insights | November 2022 - November 30, 2022
- The Scoop: Recruitment Trends & Industry Insights | October 2022 - October 27, 2022
- The Scoop: Recruitment Trends & Industry Insights | September 2022 - September 30, 2022
- The Scoop: Recruitment Trends & Industry Insights | August 2022 - August 31, 2022
- PAY TRANSPARENCY: A GUIDE FOR TALENT ACQUISITION TEAMS | THE SCOOP: JULY 2022 - July 28, 2022