Meta pays $1.4 bn over unauthorized biometric data collection, Upwork, and Autonomous Recruiting with Max
The week that was #3
Friends,
Tons of great mid-week content to stay up to date with. Stick to the headlines and dig deeper on the ones that make sense for you.
Lets talk about the "skills gap". Skills gaps cost employers nearly 25 days of productivity per employee each year according to the Multiverse skills intelligence reports for 2024.
The takeaway? Investing in upskilling isn’t just nice—it’s necessary to maintain competitive advantage.
Link here and thoughts are below
Love you all.
This week is sponsored by our friends isolved and the PEOPLE HERO TOUR
Top Episodes
Elevate You AIQ: Reimagining the Workforce to Drive the Evolution of Work with Bob Pulver
You Should Know: The Impact of AI on Talent Acquisition, Employee Growth, and Internal Mobility with Melanie Lougee , ServiceNow
The BARF: Tezi AI - Max, the Autonomous Recruiter, EEOC hits $$$, and Skills Gaps=25 days of loss productivity
Up Next @ Work: The Future of HR Tech: Insights from the Frontlines of Venture Capital with Jeanne Achille, Katie Achille and Jason Corsello
PeopleTech: Mark Feffer talks with Upwork's Dave Bottoms Contingent Workers, AI and Hiring
Featured Conversation
This week we spoke with Kim Sneeder, Managing Director at CareerCircle.
We dig into the challenges of transitioning from an exceptional doer to a transformative leader, highlighting the importance of redefining equity and fostering inclusion in the workplace.
We look at leadership, equity, resilience, inclusion, DEI departments, and data-driven decisions. Explore how these elements intersect to redefine the future of work and create a thriving, inclusive workplace.
The week that was…
BREAKING NEWS:
H-1B visa lottery: Decoding multiple registration scam
An investigation reveals how staffing firms in India are gaming the H-1B visa lottery with multiple registrations. This "shitty but smart" scam highlights the competitive nature of the visa process, where 85,000 visas are granted annually amidst hundreds of thousands of applications.
Beamery releases independent AI Audit Results from Warden AI
Beamery's transparency move is a smart trust-building strategy. An independent AI audit revealed no significant biases, positioning Beamery as a leader willing to break through the status quo and prioritize fairness in AI.
Meta Pays $1.4 Billion in a Settlement With Texas Over Use of Facial Recognition Software
Meta's $1.4 billion settlement over unauthorized biometric data collection is a stark reminder of the importance of data privacy. As enterprise software faces increased security threats, the stakes in HR tech for privacy and security have never been higher.
Dayforce wallet surpasses $4B in Payroll delivered
Dayforce hits a major milestone with over $4 billion in payroll delivered. Congrats on the achievement—an indicator of their growing influence in the payroll industry.
Companies are paying the price for discrimination. Recent EEOC settlements include $1.1 million from Radiant Services for hiring discrimination and $75K from Walmart for disability discrimination. These lawsuits underscore the importance of maintaining fair hiring practices.
It’s Getting Harder for Companies to Keep Politics Out of the Workplace
Political tensions are seeping into the workplace, making it harder for companies to maintain neutrality. The focus needs to shift towards civil discourse and respect for opposing ideas. Good luck keeping politics out—it's the War on Drugs all over again.
Teens Enter the Labor Force as Employers Dish Out Higher Wages, Perks
Teen wages are on the rise, from $11.50 in 2020 to $15.50 in 2024. Employers are finally paying up, but the question remains—how high will it go?
Eventbrite is laying off 11% of its staff
Eventbrite's second round of layoffs within a year, cutting 11% of its workforce, reflects ongoing challenges in attracting and retaining creators. With new leadership from ex-Meta exec Samantha Wu, will Eventbrite turn the tide?
How Companies Can Take a Global Approach to AI Ethics
HR should drive the conversation on AI ethics. Companies have a choice—either lead the charge or get run over. It’s time for talent professionals to step up and drive the train on ethical AI practices.
ACQUISITIONS:
MPAY Acquires Southland Data Processing to Enhance Payroll and HCM Solutions
MPAY's acquisition of Southland Data Processing strengthens its position in the payroll and HCM market. By integrating SDP's expertise, MPAY is poised to offer enhanced services to its clients. Terms of the deal remain undisclosed, but this is a classic case of fish eating fish.
ZipRecruiter acquires UK-based Breakroom to expand in US
ZipRecruiter’s acquisition of Breakroom signals a strategic move to enhance its insights on pay, working conditions, and company culture, challenging traditional employer review sites. With Q2 2024 revenue at $123.7 million and a 23% EBITDA margin, ZipRecruiter is sharpening its competitive edge.
ZipRecruiter Acquires People-Powered Job Comparison Site Breakroom
This acquisition brings ZipRecruiter closer to competing with Indeed and Glassdoor. By acquiring Breakroom, ZipRecruiter expands its ability to provide more nuanced job insights, pushing beyond the typical gripe-fest found on traditional review sites.
RESEARCH:
DEI Backlash: What Employees Really Think, a Seramount’s 2024 DEI National Survey
The 2024 DEI survey reveals inconsistencies in employee views on inclusivity. While 76% are committed to fighting racism, only 47% think DEI efforts are proportionate. The challenge? Defining what "inclusive" really means. The pendulum is swinging, and perceptions of inclusivity are becoming less clear.
Textio: 10% of all employee attrition is caused by low quality feedback
Low-quality feedback is driving 10% of employee attrition, particularly among high performers. Textio's research highlights that it's not just about the content of feedback but the quality—poor feedback disproportionately impacts women and minorities, leading to higher quit rates. Feedback matters—big time.
Gen Xers were voted the best managers among their colleagues
Gen Xers are getting their management kudos, but don’t get too comfortable. According to FlexJobs’ 2024 Generations at Work Report, Millennials might soon take the lead. For now, Gen X holds the crown, but the management game is ever-evolving.
Skill gaps can cost employers a month of productivity each year
Employers lose up to 25 working days per employee annually due to skill gaps, costing productivity. Data shows that workers spend 14.3 hours per week on data tasks, with 4.3 hours being unproductive. Upskilling is no longer optional—it’s a necessity to avoid paying the productivity price.
FUNDING:
CloudPay, a payroll services provider, lands $120M in new funding
CloudPay finally secures $120M in funding after years of letting the competition slip through its fingers. This investment will focus on workforce expansion, innovation, and market positioning, but the question remains—can they catch up or is it too little, too late?
Tezi raises $9M to launch Max: the first fully autonomous AI recruiter
Tezi’s $9M raise to launch Max, an AI-driven recruiter, is an exciting leap forward in talent acquisition tech. Max sources, screens, and schedules candidates autonomously. If the tech is as solid as it looks, this could be a game-changer. FOBO (Fear of Being Outdated), anyone?
Impactpool, AI-driven career platform, raises $4M to Boost AI Job Matching
Impactpool secures $4M to enhance its AI job matching technology, with a focus on diversity and inclusion. It’s about time they doubled down on this. Better late than never—let’s see if they can make a real impact now.
Skillfully raises $2.5M in seed funding. Hiring Decisions with 100% Precision
Skillfully's $2.5M seed funding is a win for both employers and candidates. The "try before you buy" model offers a fresh approach to hiring, allowing companies to see skills in action before making decisions. Precision in hiring just got an upgrade.
The Richard King Mellon Foundation has committed $300,000 to LoanBYE
LoanBYE’s $300K commitment from the Richard King Mellon Foundation highlights a growing focus on student loan debt relief as a recruitment and retention tool. Offering tax-free Student Loan Repayment Benefits could become a key differentiator for companies looking to attract top talent.