Headline, September 20 2022/ ''' '' TECH RECRUITERS TEST '' '''


 TEST '' '''

THE LINE : THE WORLD STUDENTS SOCIETY IS A REVOLUTION IN CIVILIZATION. However, the true wonder is not what it is, but what it will do for its students and mankind. '' New Wonder for the World. ''

IN PROUD PAKISTAN AND GREAT INDIA, just as our elections begin under the honours of the students of Unique America, The World Students Society will be helping every student ''butts in seats''.

Eventually, and as soon as we can, we will deliver the expertise and service to the whole world. For students : communities, and commerce to thrive like never before. '' So, help us, Almighty God with your benevolence and illumination. Ameen! ''

All employers, all organizations, all corporations, all government set-ups the world over, ' Join Up On The World Students Society '.

I sincerely hope and pray that this honoured Founder Framer of !WOW!, Sahar Khan, a high class girl,  a distinguished student with Canadian education, and Kings College UK, LUMS, will consider heading the brightness and service.

ORACLE-TESLA AND NETFLIX LAID OFF STAFF, AS DID Peloton, Shopify and Redfin. Meta, Google, Microsoft and Intel made plans to slow hiring or freeze it. Coinbase and Twitter rescinded job offers.

And more than 580-start-ups laid off nearly 77,000 workers, according to Layoffs.fyi, a crowdsourced site that tracks layoff.

The pain was acute for recruiters. Robinhood, the stock trading app that was hiring so quickly last year that it acquired Binc, an 80-person recruiting firm, underwent two rounds of layoffs this year, cutting more than 1,000 employees.

Seemingly overnight, the tech industry flipped from aggressive growth, hiring sprees, lavish perks and boundless opportunity to layoffs, hiring freezes and doing more with less.

Nora Hamada, a 35-year-old who works with recruiters who hire employees for tech companies, is trying to be optimistic. But the change upended her online business. Recruit Rise, which teaches people how to become recruiters and helps them find jobs.

In June, after layoffs trickled through tech companies, Ms. Hamada stopped taking new customers and shifted her focus away from high-growth start-ups. 

'' I had to do a 180, '' she said. '' It was an emotional roller coaster for sure.''

Throughout the tech industry, professional hirers - the frontline soldiers in a decade-long war for tech talent - are reeling from a drastic change of fortune.

For years during an extraordinary tech boom, recruiters were flush with work. As stock prices, valuations, salaries and growth soared, companies moved quickly to keep up with demand and beat competitors to the best talent.

Amy Schulz, a recruiting lead at the design software start-up Canva, marveled on LinkedIn last year that there were more job postings for recruiters in tech - 364,970 - than for software engineers - 342, 586.

Now some recruiters are adapting from blindly filing open jobs, knows as ''butts in seats'' strategy, to having '' more formative '' conversations with companies about their values. Others are cutting their rates as much as 30 percent or taking consulting jobs, internships or part-time roles. At some companies, recruiters are being asked to make sales calls to fill their time.

''Companies are being looked at pretty dramatically differently in the investor market or public market, and now they have to pretty quickly adapt,'' said Nate Smith, chief executive of Lever, a provider of recruiting software.

It is a confusing time for the job market. The unemployment rate remains low, and employees who outlasted the ''Great Resignation'' of the millions quit their jobs during the pandemic became accustomed to demanding more flexibility around their schedules.

BUT companies are using layoffs and the specter of a recession to assert more control. Mark Zuckerberg, chief executive of Meta, said he was fine with employees' ''self-selection'' out of the company as he set a new, relentless pace of work. Some companies have asked employees to move to a headquarters city or leave, which observers say is an indirect way to trim headcount without doing layoffs.

Plenty of tech companies are still hiring. Many of them expect growth to bounce back, as it did for the tech industry a few months after the initial shock of the pandemic in 2020. But companies are also under pressure to turn a profit, and some are struggling to raise money.

So even the best-performing firms are being more careful and taking longer to make offers. For now, recruiting is no longer a top priority.

Recruiters know the industry is cyclical, and Bryce Rattner Keithley, founder of Great Team Partners, a talent advisory firm in the San Francisco Bay Area. There's an expression about gumdrops - or ''nice to have'' hires versus painkillers, who are employees that solve an acute problem, she said.

''Alt of the gumdrops - that's where you're going to see impact,'' she said. ''You can't buy as many toys or shiny things.''

Ms. Hamada started Recruit Rise in July last year, when recruiting firms were so overbooked that companies had to call in favors for the privilege of their business. Her company aimed to help meet the demand by offering people - typically midcareer professionals - a nine-week training course in recruiting for technical roles.

The program grew quickly, forging relationships with prominent venture capital firms and Y Combinator's Continuity Fund, which helped funnel students from Ms. Hamada's program into recruiting jobs at high-growth start-ups.

In May, emails from companies wanting to hire her students started tapering off. The venture firm she worked with began publishing doom-and-gloom blog posts about cutbacks. Then the layoffs started.

The Honour and Serving of the Latest Global Operational Research on !WOW!, Recruiters, Jobs and Students, continues. The World Students Society thanks author Erin Griffith.

With respectful dedication to All Employers, Recruiters, and then Students, Professors and Teachers of the World. See Ya all prepare and register for Great Global Elections on The World Students Society -the exclusive ownership of every student in the world : wssciw.blogspot.com and Twitter - !E-WOW! -The Ecosystem 2011.

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


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