TRF in Silicon Valley

[00:00:00] This week on the Recruitment Flex, my dad and Shelly visit LinkedIn in Silicon Valley.

[00:00:06] Indeed lays off 1,000 employees. Canada is importing the wrong skill set. Plus,

[00:00:13] talent acquisition metric that your CFO will care about. TRF with my dad and Shelly starts right now.

[00:00:29] Welcome to the Recruitment Flex with Serge and Shelly. I'm Serge.

[00:00:32] And I'm Shelly. And we talk all things recruitment starting right now.

[00:00:40] Bonjour and welcome to the Recruitment Flex. We are in Silicon Valley in California. Actually,

[00:00:48] like we're in San Jose now in a pretty crappy hotel. Oh my god. Tell the story. Oh my god.

[00:00:55] So had the hotel booked as soon as we knew we'd accepted our invite. We're actually

[00:01:00] at LinkedIn's headquarters in Sunnyvale. And we land and I get an email from the hotel

[00:01:09] saying that they have cancelled our reservation because they're overbooked. And they have

[00:01:16] booked us into another hotel in San Jose out by the airport. So as not much of a good

[00:01:23] shout out here for Hilton Hotels. That's never happened to me. I've never heard that.

[00:01:29] Hours before we're supposed to check in. It never happened to me. And I've traveled a lot

[00:01:35] in my life for business and it's never happened. To make matters worse,

[00:01:39] I had checked in online the night before, made sure our rooms were confirmed,

[00:01:45] had a digital key. And for some reason, the digital key wasn't coming up on one of

[00:01:49] the two rooms that we'd rented. So I even called Hilton to confirm. Yep, this was like

[00:01:55] not even 12 hours before. I am on the phone with them for 20 minutes on hold

[00:02:01] to confirm our reservation. So to come here and get an email saying they've cancelled our

[00:02:05] reservation as we are at the airport. I tell you, so being on LinkedIn's campus here in

[00:02:12] Sunnyvale. Oh my God, they have seven buildings. It is like nothing I've ever seen before.

[00:02:19] Every shrubbery and every hedge is perfectly manicured in each building. They've got different

[00:02:26] themed restaurants. They even had a band room where you can go and jam. Yes. Oh, you should

[00:02:31] see the gym and a locker room. The locker room was like second level. Like it's the nicest

[00:02:36] locker room I've ever seen. Everything is so impressive. I can see the attraction for

[00:02:42] young folks working for a company like LinkedIn. They probably never leave. All the food that you

[00:02:47] could ever want is free. All the amenities that you could ever want is free. Everything. Like

[00:02:53] literally everything. I just hang out here all the time. And I think that's on purpose,

[00:02:57] right? Like it's similar to how Google did it. It's like the more people don't have

[00:03:01] to leave, the more they're going to work. And I think this is- People were just leaving

[00:03:05] at seven o'clock when we were leaving. Like the workers. Yes. They're just leaving.

[00:03:10] Serge, how are you feeling after playing pickleball all afternoon? I killed it. I don't

[00:03:16] know if you watched it. I've got it on film. I videotaped it. Yeah. I'm a professional

[00:03:21] pickleball player rising star. No, it's actually a lot of fun and I've made fun of it in the

[00:03:27] past. Yeah. But it's a ton of fun, right? Like I grew up playing tennis and ping pong

[00:03:31] and there's a lot of similarities, but also very different. You can't go in approaching it

[00:03:37] like it's tennis because the rules are different. The ball is different. The paddles are different,

[00:03:43] but I can see the attraction. And I'll tell you, like I broke out a little bit of a sweat

[00:03:47] there. It was like, it was a workout. It was more a workout than I thought it would be.

[00:03:51] So it was a gorgeous day. Do you know, I have a theory of who invented pickleball?

[00:03:57] Who's that? Knee surgeons. I was watching because it doesn't bounce like it doesn't bounce as much,

[00:04:05] right? So there's a lot of start and stop. I was just waiting for somebody to roll over an

[00:04:09] ankle or something. It almost happened to me. I slipped like I'm wearing court shoes and I don't

[00:04:15] know my feet slipped and I was very lucky while I'm in terrific shape. Of course. Yes. So

[00:04:20] I wasn't as worried. I'm a physical specimen when it comes to

[00:04:24] athletic endeavors. So it wasn't really a concern. You know, it was really cool though.

[00:04:29] Yes. They told us about, Hey, we might have a special guest. The special guest was the CEO

[00:04:36] of LinkedIn, Ryan Rulansky. And I got a couple things to admit. I had no clue who the CEO

[00:04:45] of LinkedIn and I'm usually on top of this shit. Like I usually know, but after Jeff Weiner left

[00:04:52] in I think 2019 or 2020, Ryan took over. That's right. They were telling us the story

[00:04:59] that he took over, I think in January of 2020. And it was like he threw him the keys and

[00:05:06] said, I'm out. Oh, and then there's a global lockdown. That was just coincidence. They were

[00:05:13] planning it for a number of years or so we're told. Absolutely. So really cool being here,

[00:05:19] really cool being in Silicon Valley. We're going to take a little bit of a tour because

[00:05:25] we are five minutes from the Apple headquarter in Cupertino. I believe it says. I have to see

[00:05:31] that. That would be amazing. I don't know if we'll be able to get in, but it's that massive

[00:05:35] circular building. We could just go take a picture out in front. Yeah. If I'm here.

[00:05:39] Yeah, might as well. might as well. Shelly, there's a couple of events coming up, big event. So

[00:05:45] June 4th to the 6th TA tech at in Washington DC at the international spy museum. I'm telling you

[00:05:54] every industry leader is going to be there. So get your tickets, get there. We're three weeks

[00:06:01] away, but Shelly, it's about time we jump into the news and big industry news this week,

[00:06:08] a little bit of a surprise because indeed is laying off approximately a thousand workers,

[00:06:13] which represents about 8% of its total workforce. The layoffs are primarily focused in the US and

[00:06:21] this follows up 14 months ago when they laid off 2200 people again, mostly focused in the

[00:06:28] US, which is where most of their staffing is. So CEO Chris Hyams announced layoffs

[00:06:34] and accepted responsibility for the company's current situation. Don't you love that when

[00:06:39] CEOs do that? It's my fault, but I'm not losing my job. Right. And we see this every time.

[00:06:47] Here's what he said. The layoffs are part of an effort to simplify the organization,

[00:06:52] making it easier and faster to make decisions and more effectively grow revenue and hires.

[00:06:59] The reductions are concentrated mostly in R&D and some go to market team, unlike last year's

[00:07:07] company wide cut. So Shelly, what's your take on this?

[00:07:11] So sad. It really is, especially when you think about cuts in R&D. What does that tell us

[00:07:18] about the future? When does a company cut R&D?

[00:07:22] When they go in preserve or defend mode, usually is the case.

[00:07:28] Yeah. Yeah. I don't know. I was saddened because I have a lot of friends that indeed,

[00:07:34] and I don't like to see anybody out of work. No.

[00:07:37] And I guess what concerned me the most was the cuts for their research and development team.

[00:07:44] I think Elon Musk is the driver of this because a lot of companies realize that they are too

[00:07:53] bloated. Twitter store X is a perfect example where they basically laid off 80% of the staff.

[00:08:01] Nothing has really changed at X as far as how it works, obviously different philosophy

[00:08:06] and different way to approach the market. But the service itself has stayed really steady

[00:08:12] it doesn't break down. And then we're starting to see that across a lot of companies in the tech

[00:08:17] sector and Chris Hyams is taking responsibility because he over hired, I think after the

[00:08:24] pandemic or like in 2021 when we're coming out of the lockdowns, there was such a need

[00:08:31] and there was such growth. So they just started hiring as much as possible. And I think

[00:08:35] everyone's taking a step back saying, yeah, maybe we did over hire.

[00:08:40] I know, I agree it's sad, but I know a lot of people are saying out there that this is the

[00:08:46] beginning of the end to Indeed and I don't think that's the case. I think there's just a little

[00:08:52] bit of tightening up. Who knows, right? Obviously it's a very competitive market,

[00:08:56] but any company and talking to LinkedIn today, being in the industry where hiring has slowed

[00:09:04] down so dramatically, it's affecting all these companies. Like I said, LinkedIn is a

[00:09:10] we're in this space. We see it all like we work for companies in this space and we know that

[00:09:16] it is way tougher out there. So I think they're just adjusting to what's going to be happening.

[00:09:21] So closer to home, Canada's job numbers were out for April and it does appear that Canada did

[00:09:30] add 90,000 jobs, which was better than expected. A lot of the job gains though

[00:09:36] we're in part time employment, which is not unusual for this time of year. You know, summer

[00:09:41] hospitality part time, we're always going to see a spike this time of year. But despite that

[00:09:47] national unemployment rate still remains steady at 6.1, which is unchanged from the month before

[00:09:55] that is slightly different than March. But the thing I'm watching most closely is what the

[00:10:01] Bank of Canada is going to do because we know our housing market is on fire right now.

[00:10:07] And there is some talk that in June, the Bank of Canada will reduce their rates,

[00:10:13] which is going to, in my opinion, going to trigger even higher housing prices.

[00:10:19] So it's going to put a lot of pressure on just how many people are new to Canada looking

[00:10:25] for somewhere to live. But even closer to home is just the sheer number of people coming to Alberta

[00:10:32] like on a daily basis, whether it's in country migration or new Canadians.

[00:10:38] So it's going to put a lot of pressure on our housing market.

[00:10:41] Yeah, the equivalent of 550 people move to Alberta every day. So if we look at it in

[00:10:48] the last year, 202,000 people have moved into Alberta, which is an extremely high number.

[00:10:56] There's a couple things that I saw and I'm always like trying to figure out these job

[00:11:00] numbers. What do they mean? And it's challenging because where are those jobs being created?

[00:11:05] And in this case, more than half were part time jobs, which is good. We need part time

[00:11:11] jobs for these students that are coming in. And also what was a little bit different from

[00:11:16] all the months before is these were private sector jobs. All our job growth in Canada has

[00:11:24] been really focused on the public sector. You know, I found an interesting article talking

[00:11:30] about the CRA. So the CRA is our version of the IRS here in Canada. And in the past four

[00:11:39] years, we have doubled the amount of people that work for the CRA. The number is now

[00:11:44] 70,000 people. How many people work for the IRS? I have no idea. 90,000. No. And we're talking

[00:11:53] about Canada's population 40 million and the US population 350 million. So what concerns me there

[00:12:02] is we're just creating government jobs, which are good paying jobs and everything, but

[00:12:08] economy can't be sustained with just public sector jobs. So good to see that the private

[00:12:15] sector is ramping up some of the hiring. So Shelly, you talked about the housing market.

[00:12:20] I want to jump into the next news item. There was really in-depth research of Canada's

[00:12:27] immigration plan, including students. And there were some pretty concerning elements. In Canada,

[00:12:35] data shows that nearly 800,000 international students got permits to study business far more

[00:12:44] than healthcare or trades. So this equates to around 27% of all study permits from 2018 to

[00:12:52] 2023 were business. And if you look at where the needs are and like, I don't know what your

[00:13:00] personal viewpoint, but we don't need more business people. We need trades, we need nursing,

[00:13:07] we need a lot of different roles. Business is the one that we're not lacking, but also

[00:13:13] unfortunately for these folks, they can't find a job. Afterwards. Yeah. They can't. According

[00:13:20] to this study trades amounted to only 36,208 study permits. If you look at health sciences,

[00:13:30] it was 142,780. And these are study permits for foreign students. That is a very concerning

[00:13:40] number. So few are here to study trades and healthcare. How are we going to build these

[00:13:46] houses if we don't have people building them? Right. The thing is I've been a big proponent of

[00:13:51] immigration, but like common sense be like, how about we bring in the people that we actually

[00:13:58] need, especially our healthcare system is collapsing in a lot of ways because there's

[00:14:03] just not enough nurses, doctors. Where are those folks? There is some steps taking place

[00:14:10] in the last little while to hopefully alleviate this issue moving forward as far as putting caps.

[00:14:17] So there's been recent federal regulations that have placed a two year cap on new

[00:14:21] international student permits and Ontario, our biggest province is temporarily barred

[00:14:27] international students from enrolling in one year business management programs,

[00:14:32] pending a review. Here is the challenge we have public, we have private colleges,

[00:14:37] the public colleges have really seen a significant surge in international students. And we know why

[00:14:44] that's the case, right? They pay a lot more tuition and it's a business. And the bar is

[00:14:51] lower. The bar is lower. Yes. To get into the sciences, whether it be nursing and any sort of

[00:14:57] health sciences, the bar is a lot higher and it's about money. What's your take on this? Like

[00:15:05] how do you feel about this? I do believe that it is because the tuition bring is a significant

[00:15:12] injection into the economy, the economy of education. Okay. Yeah. Not our economy

[00:15:19] because these students are then having to go to the food bank. Yes. Once they get here,

[00:15:24] because they're limited on the number of hours that they can work. And if a spouse

[00:15:28] came with them, they can't find work. So that's usually the plan that you come as a couple and

[00:15:35] one's going to school and the other one's working. If the other one can't find work or

[00:15:40] they're doing menial jobs, it's really a lose-lose situation. That's what we're seeing. And

[00:15:46] hopefully this report is so damning that this is fixed. We figure out a solution moving forward

[00:15:52] because we can't keep up this pace. So Shelly, do you want to jump to the tip of the week?

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[00:16:30] With the sad news coming in this week about 1,000 people being let go from Indeed, I thought I

[00:16:38] would offer a couple of ideas for careers if you're leaving the recruiting or the staffing world

[00:16:44] and you don't want a job in HR. So there are three roles that there is high demand across

[00:16:51] various industries, one of them being sales rep or an account manager, a project manager

[00:16:58] and customer success manager. So for example, if you're a sales rep or an account executive

[00:17:05] selling technology, healthcare, medical devices, financial services or consumer goods,

[00:17:12] all of those are high demand and really stretch across every industry sector.

[00:17:16] For our friends at Indeed that are finding themselves on the unemployment line this week,

[00:17:23] be sure you're not going to stand there long. There are other choices out there for careers.

[00:17:29] Yeah. And having Indeed on your resume, I think they'll be okay and most of them are not

[00:17:35] recruiters, but I love where you're going with it and I think it makes a lot of sense when

[00:17:41] we as recruiters are looking to fill roles like all of these that are listed, sales rep,

[00:17:47] account executive, project manager, customer success manager. Why not look at recruiters

[00:17:54] as potential fit for those roles? Their skills do flow very nicely into those types of roles.

[00:18:02] Absolutely. I think there is a fit there. There is a lot of recruiters that have been laid off

[00:18:07] in the last two years. So I think this is a really good place for them to start looking

[00:18:12] because the skills are so transferable. Absolutely. Someone said this to me and I

[00:18:17] want to know what you think, because a lot of people have said to me that sales is way

[00:18:20] harder than recruitment. I think they're wrong because I've done both for most of my career

[00:18:27] and the one factor that is extremely challenging in recruitment is you're dealing with

[00:18:34] personalities and people on both sides, right? Yep. That's right. It's very challenging.

[00:18:39] It is. It is. All right. Let's jump into the recruiting insights brought to us by our friends

[00:18:45] at Mintova. Shelley, are you tired of the same old outsourcing woes? Well, say hello to

[00:18:52] nearshoring. It's like outsourcing but closer and it won't make you pull your hair out.

[00:18:58] Picture this. Top notch IT talent from Latin America.

[00:19:02] Many Latin American IT professionals have strong English language skills and even live in the same

[00:19:07] time zone so no more midnight conference calls. Hallelujah! Plus, Latin America's growing tech

[00:19:15] ecosystem, strong educational institutions and a pool of skilled IT professionals make it the

[00:19:21] perfect region for recruiting talent. I have the perfect company that does this. The company's

[00:19:26] name is Mintova. They have local experts who handle everything from recruiting to HR support.

[00:19:34] So why settle for the same old outsourcing blues when you can have

[00:19:38] the nearshoring party with Mintova? Look them up at mintova.com and let's get the fiesta started.

[00:19:46] So the first thing I wanted to talk about, the concept of direct sourcing and the thought

[00:19:52] of using a managed service provider sometimes called a staffing agency. If we start first

[00:19:59] of all by understanding what do you mean by direct sourcing? So direct sourcing,

[00:20:05] it's the practice of using the company's employer brand to fill a candidate pool or use

[00:20:14] other sources such as alumni, referrals, retirees. But essentially direct sourcing would be when you

[00:20:22] are recruiting for a company but you're recruiting as them. You're a managed service

[00:20:27] provider in-house and so great article here in the HR Daily Advisor that just talked about

[00:20:35] why would you want to do that? Why would companies want to use third party staffing

[00:20:40] for direct sourcing? And quite honestly, it's really simple. Once I thought about it,

[00:20:44] I'm like of course. First of all, staffing agencies can bring in expertise and resources

[00:20:50] who already have experience in recruiting so there's less uptime. They can also scale really

[00:20:56] quickly and they have the technology and the tools. And here's the biggest thing

[00:21:01] is if you're going to say reassign current employees on your recruitment team,

[00:21:07] they will always be pulled in different directions. Bringing in a third party is just

[00:21:12] it's laser focus. It really is. They're there for one purpose, one purpose only and that's to

[00:21:18] fill these roles and they take on your persona and use your brand to do that rather than their

[00:21:24] own brand. So what are your thoughts about organizations that bring in managed service

[00:21:31] providers? It depends on how you're leveraging in what case, right? And I'm always a little

[00:21:37] bit concerned of leveraging third party representing your brand which is what they're doing here but

[00:21:44] there's a couple points there. Scalability. There is no way that a recruiting or an HR team

[00:21:51] that maybe has one recruiter or two recruiters that they can scale and have the ability to

[00:21:56] hire a lot of roles. So if you need to hire a lot of roles quickly, you need to go out and

[00:22:01] source them. The thing is too let's be realistic about internal recruitment or HR teams when it

[00:22:08] comes to going out and getting the talent. The majority rely on posting a job, post and

[00:22:15] pray as we used to say and the candidates come in. And I don't think that's a bad thing,

[00:22:20] right? If you're doing it really well, you're doing your recruitment marketing,

[00:22:23] you're advertising buying, you're really targeting, you have a good message and that drives candidates

[00:22:28] to you, that's great. But if you need to scale really quickly, hire a lot of people, there's a

[00:22:34] good chance that your recruiters and your HR folks don't have a clue how to really source.

[00:22:41] Especially if they worked in internal recruitment their whole career or in HR

[00:22:45] specifically, they really don't know where to start. Do they have the tools? Then you have

[00:22:51] to go out, acquire the right tools for them to be able to do this. And Linton Recruiter is not

[00:22:56] cheap, Seek Out is not cheap, Hire Easy, all these tools are not cheap, right? And then they want

[00:23:02] to do an RFP. Oh my god it's a year later! You're right, it's speed. Yes and you think

[00:23:09] about here is how we plan recruitment. So instead of every year like let's use 2021,

[00:23:17] recruiters were the most, was it 2021 or 2022? 22. 22, were the most sought out roles in the world.

[00:23:27] 2023, they were the most laid off roles in the world and you've been in these cycles for your

[00:23:33] whole career, you've been recruiting for 82 years now so you have probably seen this

[00:23:39] smart app 35 times right? It happens a lot. So is this a better solution than ramping up

[00:23:45] and then laying off? Of course it is. Yeah, of course it is but it's expensive.

[00:23:50] It is expensive and I think you need to have a core team of recruitment professionals and you

[00:23:57] use this to elevate or to add to your existing team. All right let's move on to the next

[00:24:03] recruiting insight and this was an interesting article because it was targeted for CFOs

[00:24:11] and CFOs have maybe a different perspective on recruitment and what they want to measure and

[00:24:17] I'll tell you, they ask really good questions. I've dealt with a lot of CFOs when it comes to

[00:24:22] recruitment and they really dig down and make you question if what you're doing is actually

[00:24:27] working, is cost-efficient, is the best way to use the company's money but in this article

[00:24:32] they basically go through the key metrics that CFOs should look at. The thing is

[00:24:38] we've talked about these so many times like time to fill, cost per hire, acquisition funnel

[00:24:45] metrics, time to find a candidate, time to engage, time to interview, time to offer, time to

[00:24:52] onboard but the one that really stood out to me and I can see why CFOs would really give

[00:24:59] a shit about this is the cost of the vacancy and this should be a metric that recruiters

[00:25:06] should care a lot about TA leaders, recruitment managers because it really showcases the value to

[00:25:13] the business. Cost of vacancy you've heard about it right Shelley? Absolutely. You've used it,

[00:25:18] have you used it in the past? Oh it's probably the most powerful metric and quite frankly

[00:25:24] all the rest of this is honestly it's just smoke and mirrors. You're right like the

[00:25:29] acquisition funnel metrics sure you may instinctively know that but you also know

[00:25:35] that getting your recruitment team to fill in every part of this along the way it just doesn't

[00:25:40] happen and what does it really matter? What really matters to a CFO is the cost of the

[00:25:45] vacancy because they're looking at overtime costs. They want to know about potential revenue lost

[00:25:52] and operational efficiency. If your core business is something like let's just use auto body repair

[00:26:01] and you are short three technicians what is the revenue per technician? It's really probably the

[00:26:08] only metric a CFO would care about. It's probably one that the CEO, the CRO should care really

[00:26:15] deeply about it just to break it down so the cost of vacancy serves as a profit and

[00:26:20] loss statement for specific positions. This metric quantifies the financial impact of having

[00:26:27] a position remain unfilled for a certain period considering factors such as loss productivity over

[00:26:34] time costs and potential revenue loss. It's a really hard one. It's a hard one because there's

[00:26:40] a lot of understanding of the business that you need to have but this is where you become

[00:26:45] really partners in asking the right questions to the business. To your point that you just

[00:26:50] mentioned Shelley like the time to find a candidate, time to engage, time to interview

[00:26:55] that is not the CFO's concern. No and pretty much all of them are only recruitment concerns.

[00:27:03] I as a TA leader and you probably as well those metrics like the acquisition funnel metrics are

[00:27:09] really important to me because it tells me where the process is breaking down. It tells

[00:27:13] me okay we're not getting enough candidates top of the funnel, we're losing them out after

[00:27:18] the first interview. This is critical for us to run our department correctly but for CFO,

[00:27:26] why would they care about that? Like they don't care. No so I'm glad this was brought up

[00:27:30] because cost of vacancy is one that we need to put our business hats and really start to show

[00:27:36] to the business. What do you think about employee churn? Do you think that's a concern

[00:27:42] for a CFO? We know what it means like churn means increased recruitment, training cost,

[00:27:48] reduced productivity. Really how do you put a number on it unlike overtime costs

[00:27:56] right or lost opportunity? I don't know too many CFO's that really believe that your employee

[00:28:03] churn rate belongs in his department. Is it something they really care about?

[00:28:09] I think they should. If it's really high, yes. Yeah you think about recruiting in this world is

[00:28:15] very expensive overall right like internally or externally so yeah actually let me take a step

[00:28:21] back. This should be the CEO. The CEO should care very deeply about employee churn. This

[00:28:28] should be almost their number one priority. If you're losing a ton of people there's

[00:28:31] something really broken with the culture unless you over hired.

[00:28:39] Good point. Yeah yeah. What's our last? Okay so our last one you know I've got a professional

[00:28:47] crush on Hung Lee. You have a crush on everyone Shelley. I don't. Literally everyone. That's not

[00:28:54] true. There was a wonderful article in HR executive which summarized his presentation

[00:29:00] at the European conference in May and he talked about a global talent shortage. What I loved

[00:29:07] was how he so succinctly summarized what do we mean by a global talent shortage

[00:29:15] and there's reasons for it. First of all the demographic crisis which is an aging society,

[00:29:22] mismatch of skills that people hold compared to those that employers need.

[00:29:27] The other one I know you're gonna love this. He called it elite overproduction of university

[00:29:33] graduates that has depleted the labor force for essential jobs. I know that's something

[00:29:37] you talk about all the time and a geographical imbalance leaving roles open in places where

[00:29:45] the bulk of people don't actually live and then the last one was an increase in mental

[00:29:51] and physical disabilities that are removing people entirely from the workforce. So good.

[00:29:57] He's just the smartest guy. That's why I have a crush on him because he's so smart.

[00:30:01] He's a good looking guy too so it's okay you can admit that. Okay yeah and he's really fit too.

[00:30:10] You know it's interesting because wherever whoever we talk across the world

[00:30:17] it seems like the problems are exactly the same. We're all complaining about the talent shortage.

[00:30:23] In our case here in North America it's probably more a talent mismatch but it's a little

[00:30:27] overwhelming if you think about it. Let's fix the global talent shortage. I'm like

[00:30:33] we better start having more babies or something. Well I mean what we can do today one of the

[00:30:39] things that I really loved that he pointed out was talking about talent density and I know

[00:30:44] you've talked about it. We just didn't call it that but you've talked about it a lot

[00:30:48] where if you've got a senior developer they can do the work of 10 juniors and so unfortunately

[00:30:55] companies then become hyper competitive for highly skilled individuals who can do the work

[00:31:04] of multiple people. That in itself creates more problems because you've got this war going on

[00:31:12] where companies just keep upping the ante to get that talent in here and it makes sense that you

[00:31:18] would. If they can do the work of five people you're going to pay them an awful lot of money.

[00:31:23] Talent density is one of the topics that I've been doing a lot of research on because

[00:31:29] studying companies that become extremely successful especially to start and LinkedIn is actually

[00:31:35] a perfect example. Indeed is a perfect example. Their first 50 to 100 people were the best and

[00:31:43] the brightest in that particular time frame in their skill set and that is what really caused

[00:31:49] the massive growth to those companies. We see it in a lot of smaller companies that have gained

[00:31:55] big success. The challenge is as you grow it's really hard to maintain that talent density

[00:32:03] and having all high level A players or I know you hate A but the best possible employees with

[00:32:10] a high level of knowledge that can do multiple things becomes extremely challenging. To use the

[00:32:16] word elite again it's generally elite companies or companies with the best and the brightest

[00:32:24] ID that attract those folks. One of the things that we've been talking about is

[00:32:30] distributing the work. Working anywhere in the world and this was a big topic of conversation

[00:32:37] 21, 22. We just want the best talent no matter where they are. Really it's the reason that

[00:32:44] Deal became a 20 billion dollar valuation overnight because they offered this for

[00:32:52] employers right like a quick easy solution to hire anyone in the world. I don't care if you're

[00:32:59] in China, in India, in Australia, wherever you are if you have the talent they're going to try

[00:33:05] to figure out a way to hire you. So to me that is the only solution that I can come up with

[00:33:11] that really is actionable and could work. True very true because the talent is out there

[00:33:18] but if you are restricting yourself geographically to your time zone or within

[00:33:24] a 50-mile radius of your office yeah you are going to struggle. The other thing that I

[00:33:29] really loved that he talked about and that was talent diversity and that is becoming more open

[00:33:36] minded and inclusive when you are designing your jobs to attract a broader range of candidates

[00:33:44] aka skill based hiring right it is breaking the mold that they can only come from certain

[00:33:52] universities or have worked at certain companies but we've got to think bigger about how we design

[00:34:00] the job itself. Really good point Hung as always delivers so definitely check out this

[00:34:07] article and round of applause and anyone listening that is not subscribed to recruiting

[00:34:12] brain food you're missing out that is a must-have for any recruiter but on that note

[00:34:19] that's it for recruiting insights. So Shelly we have a full day at LinkedIn tomorrow. Are you excited?

[00:34:26] I am so excited we're going to come away with lots of learnings stuff we can share with the

[00:34:32] audience. I already checked they're not going to tell us anything that we can't talk about

[00:34:36] on the show. Yeah I'm actually really excited. So am I. It's pretty amazing being here in Silicon

[00:34:42] Valley at the LinkedIn headquarters. Pinch me it's pretty cool. Yep very cool very cool. On that

[00:34:48] note the audience thank you for listening we really appreciate you and I promise we're going

[00:34:54] to stop traveling soon enough so you'll have more regular shows but these are a lot of fun.

[00:34:58] We're actually recording together like Shelly do you like recording face-to-face or over

[00:35:04] like video that we usually do? Oh this is way better being in person. Absolutely yeah

[00:35:09] better. Thank you audience. Au revoir.

[00:35:20] Shelly let's face it texting candidates is the easiest way to hire quicker today

[00:35:26] but your cell phone doesn't connect to your ATS. You're sharing your personal number with

[00:35:30] strangers so it's pretty scary right Shelly and it's not even legally compliant. This is where

[00:35:36] our friends at Rectex come in they've created simple yet powerful text recruiting software

[00:35:41] that works with your ATS plus it's designed by recruiters for recruiters so you know it works.

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