Recruiting Economics

A few takeaways from our Recruiting Economics discussion with Andrew Flowers

With the media buzz earlier this summer about startup layoffs and the looming threat of recession, many of us in talent acquisition have been left wondering what’s to come. Last month, we were joined by Andrew Flowers, Labor Economist at Appcast, to talk us through the intersection of recruiting and economics.

While Andrew notes the potential for a mild recession in the future, there is still a broad-based demand to hire workers and insufficient labor to meet the need. Many economists believe that the labor market is depressurizing instead of deflating.

Beyond a tight labor market, organizations have faced high recruiting costs during the pandemic. While the costs have cooled, the ‘cost per click’ for job advertisements more than doubled from 2020 to 2022. A slight uptick in apply rates since the spring is a welcome sign for organizations as they work to fill roles.

Check out the full meeting to learn more about Andrew’s economic predictions and observations on recruiting. And for those who will be joining us for our Leadership Meeting in October – we’re excited to announce that Andrew will be there to give us an economic update and lead a discussion around its impact on recruiting.

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Chris Hoyt

A veteran of recruiting and HR, Hoyt is a sought-after speaker with presentations including national conferences with SHRM, LinkedIn, HR Technology, ERE and others in the USA as well as UNLEASH, iRecruit, Australasian Talent Conference and more abroad. Chris has been promoting and leading full scale and enterprise-wide integrations of social media and mobile marketing within workforce strategies for his entire career. His expertise and passion for interactive/social recruiting, candidate experience, and both national and international recruiting strategies are all areas that Hoyt now leverages as co-owner and President at CareerXroads, a Recruiting/Staffing consulting and think tank organization that works with corporate leaders from around the world to break out of traditional recruitment practices and push the envelope in an effort to win the ongoing war for top talent.

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