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Recruitment is News to Me: Top 5 Stories of 2007

The top news of the year is unique, but can be typically categorized - a natural disaster here, a new technology there and a shocking political scandal or two, to boot. And 2007 was no exception to the rule. From the election of the first female speaker of the U.S. House of Representatives, to the wildfires in California, the year 2007 was filled with memorable events.

Some of these events, and trends, impact the recruitment arena, which is not influenced solely by the economy. Employment practices and processes can vary due to changes in governmental leadership, advances in technology and countless other factors.

Here are five of the top news stories in 2007 that have had a major impact on recruitment and employment:

1. Subprime market collapses. The Federal Reserve Bank pumped over $100 billion into the U.S. economy to ease panic and improve the financial markets due to the subprime lending crisis. As a result, a number of mortgage companies and financial institutions filed for bankruptcy or downsized, creating crisis for employees and opportunity for other employers.
   
   Recruiters are now targeting this new pool of talent to address immediate employment needs, while talent acquisition teams are seeking mid- to senior-level talent to address future needs.
   
   Read about HRworks' viewpoint on talent shortage



2. Systemic discrimination comes to the recruitment forefront. With the growth of electronic recruitment data, changes in recordkeeping requirements, and heightened government concern about systemic discrimination, federal agencies are increasingly holding employers accountable for failing to meet compliance regulations. The Equal Employment Opportunity Commission (EEOC) and the Office of Federal Contract Compliance Programs (OFCCP) have begun to win large settlements against employers for their faulty, discriminatory recruitment practices.
   
   Key areas in recruitment that employers must focus on include testing and recordkeeping. Due to pressure from the EEOC and OFCCP, employers are urged to review their recruitment practices in order to eliminate systemic issues and mitigate risk. The good news for employers and potential employees is that better practices can improve diversity of the candidate pool and make hiring easier.
   
   Learn more about how the HRworks OFCCP Compliance practice area can help



3. Presidential debate hits YouTube. Before YouTube entered the picture, it would have been hard to imagine sending questions to a presidential candidate and having them answered during a nationally televised debate. The YouTube / CNN presidential debates, which drew an audience of over 8 million viewers, are a new weapon in presidential campaign arsenals that also include Internet campaign videos, podcasts and Facebook pages.
   
   Recruiters are also tapping into this growing trend and are using the Internet to reach out to potential job candidates. Streaming video clips serve as a way of keeping job candidates more informed about the job opening and the potential employer. LinkedIn, a business-oriented networking site, and other similar social networking sites are now regular recruitment tools used to identify and vet candidates, while also building relationships with specialty groups.
   
   Read about HRworks' views on social networking and recruiting



4. Green is good. Al Gore may not have won the 2000 U.S. presidential election but he did win on the global stage with the 2007 Nobel Peace Prize for his efforts in raising awareness of manmade climate change. The award is merely an indicator of a larger growing trend: increased environmental and social awareness among corporations. Many companies are now implementing environmentally-sensitive practices and are incorporating social responsibility messaging into their websites and marketing initiatives.
   
   All things being equal, members of the talent pool are more often assessing companies' environmental and social issues as they consider employers. Recruiters are following this trend by incorporating environmental and social responsibility messaging in recruitment materials.
   
   Read about green in recruiting in this Human Resource Executive article



5. Battle Tested Candidates. The United States military has thousands of troops fighting in Iraq, as well as supporting other missions around the world. While the Iraq war persisted in 2007, Congress, the president and presidential candidates debated strategies to win the war while striving to bring troops home quickly. As tours of duty end, an abundance of veterans is now entering the civilian workforce.
   
   One of the deepest talent pools is the U.S. military, which is comprised of well-trained and dedicated individuals who are ready to transition to the civilian workforce. Recruiters that build strong relationships with the military have ready access to this increasingly valuable talent pool.
   
   Read more about HRworks' viewpoint on military recruitment