- Many companies have frozen or slowed down hiring during the coronavirus pandemic, but for the companies that are still hiring, recruiters are busier than ever.
- Recruiters say that they’re seeing more candidates apply than before, and they’re also sourcing from lists of people who have been laid off.
- They also say the priorities of candidates have changed, as they’re more interested in a company’s stability and less interested in perks like free lunch and commuter benefits.
- Visit Business Insider’s homepage for more stories.
During the coronavirus pandemic, Asana has been onboarding 15 to 20 new hires every week since moving to remote work in mid-March.
Because there are now more people on the market, recruiting has become easier, says Kayla Vatalaro, global head of talent at Asana. Vatalaro estimates that Asana is reviewing eight times more applications now than just a month ago.
Not all tech companies are still hiring like Asana. Since the outbreak began, many companies have taken a hit and have had to lay off staff. But for recruiters at companies that are still hiring, work has only gotten busier because of the massive influx of candidates.
Plus, recruiters now have to adapt the process to work virtually, while making sure they’re hiring a diverse team, conducting a fair process, and spending more time with candidates so that they feel more connected, Vatalaro says. And recruiters have noticed that the priorities of candidates have changed. Above all, they want to make sure they are joining a stable company.
“Humanizing our virtual process for us continues to be a top priority,” Vatalaro told Business Insider. “We’re making sure every touchpoint with our candidate feels personal. That extends all the way to our virtual onboarding experience.”
Likewise, the AI startup ArthurAI has been getting more inbound candidates than before, says Priscilla Alexander, co-founder and vice president of engineering at ArthurAI. Before, candidates often had multiple rounds of interviews with other companies and even multiple offers. But the market has completely flipped.
“Previously since the response rate has been low, you’ve had to reach out to a lot more candidates,” Alexander told Business Insider. “Filling the recruiting funnel and doing recruiting outreach was the biggest part of the work. Now sourcing is really easy. We’re looking at all the candidates out there and filtering the ones we want to talk to. We can be very picky.”
The pace of hiring has changed during the coronavirus pandemic
At the staffing services company Collabera, hiring has slowed down because many of its clients have taken a hit and had to lay off staff during the coronavirus pandemic. Because of widespread layoffs across the industry, there has been a larger flood of candidates onto the market, and the number of open positions isn’t catching up.
However, cloud, streaming, gaming, and remote work app companies have been more immune to the economic impact of the pandemic.
“It’s made an interesting pivot,” Sam Plasman, senior manager of recruiting at Collabera, told Business Insider. “There are certain companies that are business positive due to corona. It’s making us all pivot into markets that are flourishing due to the pandemic.”
“Our recruiters are also dealing with many of the same issues our candidates are, and we strive to be flexible with hours in order to accommodate the changes,” Jay Shankar, vice president of global talent acquisition at AWS, told Business Insider in a statement.
Other companies that are still hiring are focusing on certain roles. Vatalaro says Asana is “full speed ahead” in hiring, although it’s prioritizing roles that help fulfill its short-term objectives, such as in product development, product management, and customer success.
Similarly, while it’s still hiring engineers, the AI startup ArthurAI has slowed down to focus on more marketing roles because it has “become more critical to get exposure to the market,” Alexander says.
The interview process has gotten faster
In some ways, the recruiting and interview process has gotten more efficient without the need to fly in and lodge candidates. Scheduling virtual interviews has become more flexible, but recruiting teams now have to prepare candidates by giving them an overview of the technology they need to use for an interview.
While these processes have been streamlined, many recruiting firms have had to deal with hiring slowdowns.
As a manager, Plasman says much of his job now involves boosting employees’ morale because it’s not a “super happy-go-lucky bubbling time.” Some things he might do include starting a competition with incentives, encouraging team members to build each other up, and having more check-ins.
“Overall, most recruiting teams have seen a hit in terms of individual production and team production,” Plasman said. “That’s disappointing because a lot of what our compensation has been is personal production. All of a sudden you’re not producing at the same level, and it affects your morale too.”
Duolingo has not decreased or slowed down hiring, but the pressure is higher because so many companies are laying off staff, says Jocelyn Lai, director of talent acquisition at Duolingo. However, she says this helps her team feel that there’s more purpose in what they do.
“Whether it’s helping someone find a new opportunity or someone who got laid off, it’s an opportunity to help them find a job,” Lai said. “Morale actually goes up because our purpose is even bigger now.”
Recruiters will check lists of people who have gotten laid off
Companies will often put together lists and databases of people who have been laid off and circulate them to tech companies. During this time, recruiters frequently check these lists, and they will take them into consideration, knowing that these people are on the lookout for new opportunities.
Alexander estimates that before, Arthur.ai mostly found candidates through LinkedIn searches and referrals, and now it’s 90% through layoff lists. And while Plasman will reach out to engineers who just got laid off, he will also reach out to employees remaining at the same company because they’re likely to be strong talent, and they may be worried about another layoff round.
Kristine Ona, a talent acquisition partner at the student loan platform Earnest, says she also frequently receives emails from VCs and other connections who know people who got laid off and are now job seeking.
“They made a point to connect people who they’ve laid off with other recruiters out there,” Ona told Business Insider. “It’s really interesting to see how companies are adapting to and dealing with the layoffs. It really comes down to how leaders approach this.”
Now, Ona says, there is plenty of good talent that is actively looking, and she will take time to connect with people on these lists. While Earnest has slowed down in hiring its business and marketing roles, it’s focusing on hiring tech talent. Ona says she has been doing triple the number of calls she normally does.
“Even though it’s busy, it feels really rewarding to connect with some of them,” Ona said.
Office perks are becoming less important
Recruiters say candidates are less interested in learning more about perks like free lunch and commuter benefits, or even what the office looks like. Duolingo created an office tour video for candidates, but Lai says these types of perks have become less important “considering there are bigger societal pieces going on.”
However, candidates may be interested in learning what companies do in lieu of those perks. For example, while office perks are less relevant at Asana, the company introduced benefits in mental wellness and virtual therapy.
“The question around the company has changed,” Lai said. “It used to be what cool things we do as a company and now the question is how authentic are you as a company and how well are you taking care of your current employees. These employees want to know what do you do to care for employees.”
The priorities of candidates have changed
Because of layoffs, Plasman says that many potential candidates are now more “risk-averse,” especially if they work at large companies like Facebook and Amazon. They also want to make sure that the job they’re interviewing for won’t be eliminated later.
“They’re second guessing if that’s the best move right now,” Plasman said. “During this specific time, they’re definitely evaluating the long-term potential or short-term potential of the product and company. Can it survive the pandemic, and can it survive another pandemic?”
Ona also noticed that more candidates are afraid to leave their jobs. Since Earnest has already been acquired, Ona says that one of its biggest selling features is that her company provides more stability.
“For me, I feel like I have this duty to connect with people to find their next fit and be really self-aware and open about it,” Ona said.
Typically, there are two types of candidates, Lai says. One is risk-averse and does not want to make a move from a large tech giant because of its stability. The other type cares about the mission of a company.
“We don’t force someone into a decision because it has to be the right fit, but we are honest about yeah, there are risks associated with leaving a big tech company,” Lai told Business Insider. “The trade off is there’s huge upside if you join us as the company grows…It’s definitely become more of a coaching process with candidates.”
Still, some candidates are willing to jump into a startup. Alexander, who works at an earlier stage startup, says the pandemic has allowed people to be more “experimental” with the next step in their careers. In general, Arthur.ai will seek out candidates who are motivated to join a startup and motivated by its mission.
That being said, Alexander says she finds more candidates who are willing to have a conversation from companies like Lyft and Uber that have been struggling during the pandemic, while people in more stable tech companies are less likely to budge.
“A lot of companies, it’s hard to guarantee any stability, but I think folks who have a lot of stability in their current job, they’re just staying put,” Alexander said.
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Ethereum Price Smashed $2000, $3000 Incoming At Lightning Speed!
Ethereum Price (ETH) May Hit $10,000 This Cycle!
The Ethereum price that is known to maintain a stable price movement, finally broke the previous ATH to form a new one. It took more than a months time to regain its lost position above $2000, yet sustained successfully.
The price took more time than expected to break the $2000 barrier, yet $3000 may be approaching at rocket speed. As predicted by founder of Gokhstein Media, David Gokhstein, the next stop for the ETH price is around $3,900.
With the continued bullish trend and intensified rally, the price is expected to surge to the highest levels. According to an analyst and Crypto Youtuber, Young and Investing, the Ethereum price may hit $10,000 within the current bull run.
Is Altcoin-Season On the Cards?
Many altcoins normally pop-up with the surge in the price of the second dominant crypto Ethereum. Currently, ETH price is trading around its new all time high around $2152 and expected to fly high. Therefore, many small cap altcoins are expected to rise from ashes and pump more than 50x or even 100x also.
Many analysts believe the Altcoin Season of 2021 is on the way and is expected to be the greatest season ever. According to a popular analyst, XRPcryptowolf, the season will reach its peak during the summer.
Moreover, the coins which are believed to be dead or not performing are also expected to rise. One of the analysts, MC also has given a brief idea on which all coins might pump in the current AltSeason.
Collectively, the breakout of Ethereum price has led to initialization of the most awaited AltSeason of 2021. The ETH price rally is expected to intensify in the coming days, that might smash $10,000 soon.
Lark Davis Addresses 3 Most Common Criticisms Tagged With Cardano
Popular New Zealand-based crypto analyst Lark Davis pointed out the three criticisms faced by the Cardano project.
Cardano Is Overvalued
He says that Cardano’s biggest use case right now is staking. The current price of Cardano is based on speculation rather than real demand for the token based on usefulness and need among developers and users.
Right now, the basic economics that will drive future demand are simply not there. Also there’s nothing wrong or unusual about this. This is a fairly normal occurrence. We see that a lot with various assets, where the price of an asset can rise far higher than its value should be based on where it is now simply because of strong support from the market and it’s future predictions.
Even if cardano’s price is overvalued right now does not really mean that it will plunge or go down in the near future. Davis says that in such situations the opposite is likely to happen. The higher the market cap, the more serious an investment it is in the eyes of many investors, which makes the market cap go even higher and become even more serious.
Nothing Is Built on Cardano
According to Lark Davis this statement is not technically true as he feels that few things are built on cardano but it lacks an ecosystem. He also states that it’s an incredibly dishonest critique of Cardano in his opinion because it is hard to have an ecosystem when there’s no smart contract functionality.
“Smart contracts are coming. The testnet is due in late April. Smart contracts are then scheduled to come on the mainnet around August… I think we’ll have at least a few dozen applications by Q1 of next year.“
Cardano Is Too Slow in Its Development
Davis says it’s fair to hope Cardano’s speed of development to pick up pace, especially considering the moderately fast rise of other projects with robust and successful ecosystems such as Elrond (EGLD) and Avalanche (AVAX).
Luckily cardano has a growing community and enthusiastic users who are willing to support the smart contracts from the day one of it’s launch. With such an optimistic community if cardano promises to deliver an ecosystem that mints people money, then it’s obvious for users and developers to eventually join this massive ADA community.
“I personally think that Cardano will prove the haters wrong this year, and that they will deliver a powerful and interesting blockchain that will become a big part of the cryptocurrency ecosystem…“
CHZ Price | Chiliz Price Surged 650% in March, What’s Next for the Coin?
The pseudonymous head of Coin Bureau who goes by the name guy, predicts that this coin has the potential to attract many users into the crypto space.
Chiliz price has skyrocketed last month by 650% in value, making it a very important month for the cryptocurrency. In the last week, however, a pattern reversal occurred, with CHZ being overwhelmingly denominated by sellers. Things are shifting, though, as CHZ price rises once more.
Chiliz is a cryptocurrency that can be used on sports and entertainment sites. Chiliz can be used like any other digital currency, but it is most commonly used on Socios.com, a website where investors and fans can use CHZ to receive exclusive rewards from their favourite teams. Special behind-the-scenes access and voting rights are among the perks.
It is worth noting that CHZ has established partnerships with top football clubs spread across the world, including FC Barcelona, AC Milan, and Juventus.
Guy says that,
“Have you been searching for that killer app that has the potential to open the floodgates and bring hundreds and millions of people into crypto? That elusive unicorn would likely be valued at a pretty penny, which means if you got into it at the right time, you could post some truly insane gains. What if that project combined NFTs, sports, and crypto? That’s the type of rocket fuel that could send it to the stratosphere… That would be Chiliz.”
I really like Chiliz as a project, the concept, and how they’re seemingly paving the way for unique digital sports memorabilia with NFTs in real-time. I also really love the idea of attaching tangible team-related perks to NFTs. That way, they have tangible real-world value and this should drive future demand.”
As of the time of publication, Chiliz price was $0.511948, with a 24-hour trading volume of $930,154,829. CHZ price also went up 1.5% over the last 24 hours. Besides, it has a circulating supply of 5.3 billion CHZ coins and a max supply of 8.89 billion.
Genesis Celebrates Official Launch In China, Unveiling Its All-new Vision Of Automotive Luxury To Chinese Consumers
- Genesis announced its arrival in China with an extraordinary event, introducing the brand to a new generation of Chinese consumers seeking true distinction in luxury
- Athletic Elegance, the distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80 and Genesis GV80
- To deliver the unique Genesis Experience, a new business model will be introduced in China aiming to design authentic relationships with Chinese consumers
SHANGHAI, April 3, 2021 /PRNewswire/ — Global luxury automotive brand Genesis marked its official entry into China with a spectacular Brand Night held on April 2 at Shanghai’s International Cruise Terminal, where Genesis showcased its unique Genesis brand identity, design and experience philosophy. With a stunning drone show titled the “Genesis of Genesis” sweeping over the Bund, Genesis signified its exceptional beginning in the Chinese market.
Jaehoon (Jay) Chang, Global Head of Genesis, said, “Today marks the beginning of another audacious chapter for Genesis. The Chinese market serves a critical role in the development of our global business, and we are very excited to present the next generation luxury for China.”
“We are excited to showcase our globally recognized products, Genesis G80 and Genesis GV80, known for the highest quality and distinctive design. We are driven by a purpose to design authentic relationships with Chinese consumers. This is our promise and our differentiator in China to deliver meaningful and stress-free experiences,” said Markus Henne, Chief Executive Officer of Genesis Motor China. “To do that, we will be implementing an all-new business model that will bring our commitments to life.”
New Luxury Defined by A Unique Brand Identity and Design Philosophy
Genesis is a brand that aspires to make true positive impact in our customers’ lives. With a fresh perspective, Genesis audaciously challenges expectations and brings a progressive attitude in order to build emotional bonds with customers based on new ideas in design and innovation. Genesis also desires to provide customers with a sense of thoughtful hospitality throughout the entire journey. More than an automotive brand, Genesis represents a lifestyle and an experience.
Every Genesis presents an intimate opportunity to explore the extraordinary Genesis vision. The distinctive design of Genesis was showcased through a special Brand Night unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Defined by their symbolic Two Lines architecture, both models are the expression of Athletic Elegance, Genesis’ design philosophy that achieves the perfect balance between two opposing characteristics: Athleticism and Elegance. Inside the cabin, the Beauty of White Space philosophy is expressed through a harmony of personal space and state-of-the-art technology.
China-tailored Strategy to Provide An All-New Experience
Genesis intends to inspire its customers of what new luxury can be. It addresses what the brand calls Generation Genesis, a generation with bold new perspectives in style and everyday life, whose refined taste in aesthetics and appreciation for distinctive design cultivates resonance with the brand spirit of Genesis. To underline this, Genesis unveiled its brand manifesto at the heart of which sits the “Genesis of You” message-Every touchpoint with Genesis is designed to fuel the confidence of these consumers, as they embark on new beginnings, break boundaries and progress in their every endeavor.
Genesis is establishing an all-new business model for the Chinese market, aiming to design authentic relationships with Generation Genesis and deliver meaningful, stress-free experiences centered on human-touch, convenience, trust and transparency. Genesis will gradually develop its presence in China through an omnichannel approach based on direct sales, supported by trusted agents and online sales.
Furthermore, Genesis will ensure that every person interested in the brand receives the best one-to-one experience from a dedicated companion with the introduction of the Genesis Partner Concept.
A transparent pricing model under the Genesis One Price Promise will be implemented to ensure a unified price across all sales channels. This unique and uncompromising brand experience will be enabled by the Genesis Digital Ecosystem.
Focus on Brand Building and Designing Genesis Experience
An essential part of the Genesis is lifestyle. Aesthetic ambition with the love for beautiful things are at the core of the brand. That’s the reason Genesis is never compromising anything on design and open to collaborate on a variety of canvases, where the Generation Genesis can be naturally met.
One of these forthcoming brand experiences, for instance, will be held in collaboration with the Shanghai Fashion Week, to create an elevated and in-depth exploration of progressive luxury style through world-class fashion concepts. Comprehensive and touchable Genesis Experience will come to life at Genesis Studios, a luxury lifestyle oasis where people can experience our cars, the arts and culture combined with Genesis hospitality. The first of Genesis Studio will soon launch in downtown Shanghai.
Markus Henne, Chief Executive Officer of Genesis Motor China, added, “Launching the brand in China represents a significant, perhaps the most important, new chapter in our brand’s history. Genesis will focus on brand building in the early stage. We will continue to reveal more highlights of how we plan to appeal to our Chinese audience. I am confident to deliver this promise and invite everyone to be a part of this journey.”
Genesis is a global luxury automotive brand that delivers the highest standards of performance, design, safety, and innovation. The Genesis brand is one of the highest-ranked brands in the automotive industry by respected, third-party experts including North American Car of the Year, Consumer Reports and J.D. Power and more. For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com.cn
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