Tapping into Talent Agencies

In this week’s newsletter:

• 👯‍♀️ Tapping into Talent Agencies - Who are the players; 8 reasons to offload the job hunt

• 📈 Market Trends & Data - Companies still offering signing bonuses for top talent. A signal?

• 🛠️ Job Seeker Tools - Eightify (upskill with YouTube AI-driven key points & summaries); Aragon (professional AI selfies for your profile pics)

•  📰 Weekly Reads - Gen-z labeled ‘difficult’; At-risk workers not worried about AI

👯‍♀️ Tapping into Talent Agencies

As much fun as it is to manually search out and apply to dozens of job listings out in the wild, sometimes it’s best to just offload those efforts into someone else’s hands. Enter the talent agency (or staffing company, or recruitment firm, or temp agency, oh my).

Some quick stats:

• The largest recruiting firm in the U.S. is Adecco Staffing USA, with a revenue of $24.81 billion.

• As of 2022, the US staffing and recruiting industry is worth $185.5 billion.

• More than 90% of companies use staffing and recruitment agencies.

• The US recruitment industry is projected to grow at a CAGR of 7.1% through 2028. Source

First, it’s important to know that there is a spectrum of agency types out there that can help you find employment. Let’s quickly cover those:

1. Temp Agencies: They're like your fun friend who always knows where the next party is. They'll get you in the door, and you'll have a good time, but don't get too comfy. The party might end sooner than you'd like, and it's off to the next one. Oh, and remember, not everyone at the party might remember your name. But hey, it's a wild ride, and you're never without a party to crash!

2. Employment Agencies: Consider them your social-savvy cousin who knows all about the stable, long-term party circuit. They're great for getting you that golden ticket to the exclusive parties that everyone's talking about. And they might even help you polish up before you make an appearance. Just be aware, there might be a cover charge or a drink minimum to get in.

3. Recruiters (Headhunters): They're like the VIP bouncers of the employment world. They're out there scanning the crowd, looking for that one superstar to let past the velvet ropes into the swankiest parties. They don't care about the riff-raff; they're looking for the creme de la creme. If they spot you, it's champagne and canapes all night. But remember, it's not about getting you into parties in general, it's about getting you into this party.

Now that we know the players, let’s explore the benefits that they bring to the table.

1. Access to Hidden Opportunities: Many jobs, particularly the best ones, are never advertised publicly. They are often filled via networking or through talent agencies. Working with a talent agency gives you access to these "hidden" opportunities.

2. Industry Insight: Talent agencies have extensive knowledge about the industry and market trends. They know which companies are hiring, what skills are in demand, and the competitive salary rates.

3. Personalized Approach: Talent agents can offer personalized guidance based on your skills, career goals, and preferences. They can also help improve your resume and prepare you for interviews.

4. Save Time: The job hunt process can be time-consuming. A talent agency can save you time by doing most of the legwork, including searching for job openings and scheduling interviews.

5. Long-Term Career Development: A good talent agency will not just help you land a job but will support your long-term career development. They can provide ongoing career advice and keep you in mind for future opportunities.

6. Contract Negotiation: Talent agencies often assist with contract negotiation, ensuring you get the best possible terms and conditions. This can be especially beneficial in roles that have complex compensation structures, common in the tech industry.

7. Cost: Generally, it’s the employers who pay the talent agencies, not the candidates. So, it’s a valuable service that doesn't typically come out of your pocket.

8. Feedback and Communication: Unlike applying directly, where you might not hear back, a talent agency usually provides feedback, even if it's not positive. This can help you improve and refine your approach.

If you’ve been hitting the pavement hard applying to dozens, if not hundreds, of jobs, then maybe it’s time to take a breather and let someone else with all the expertise, insight, and knowhow take the reigns! Or you can just skip all of the self-applying and jump straight into an agency 🤷🏻‍♀️.

🎧 Listen While You Read

📈 Market Trends & Data

According to Indeed’s "July 2023 US Labor Market Update: Recruiting Intensity Is Fading but Remains High", job postings are still flashing 'signing bonus' signs like a neon marquee at a Vegas show. So it seems that employers are still ready to play high-stakes poker to attract top talent, even as the wage growth thermometer starts to cool down.

Key Takeaways

• Despite cooling wage growth and a gradual decline in the number of US job postings, demand for workers in the US remains strong by virtually any measure.

• Almost 5% of US job postings mentioned signing bonuses in June, indicating that employers are still willing to pay to attract workers, even as wage growth cools.

• The level of job postings is falling but still elevated, with postings down 16% year-over-year, but still 29% above their pre-pandemic level as of July 21, 2023.

• The employment-to-population ratio for workers ages 25-54 is at a solid 80.9%. That means almost 81% of people in this age group are rocking a job - that's higher than pre-pandemic levels!

• The job-quitting rate is up to 2.6%, showing that people are ready to drop the mic and walk off stage if the gig isn't right. It's been on a downward trend since its peak last year, but it's still higher than the pre-pandemic average.

📰 Weekly Reads:

• Gen-Z Is Labeled As ‘Difficult’ In The Workplace, But There’s More To The Story - Forbes

• Workers at risk of AI radically changing their jobs aren't too worried about it - BusinessInsider

🛠️ Job Seeker Tools

Aragon - Professional AI Selfies for Your Profile Pics

aragon.ai

Looking professional in your LinkedIn profile picture goes a long way when it comes to professional perception. Aragon AI is a groundbreaking platform that leverages the power of artificial intelligence to transform your selfies into stunning, AI-generated headshots. Aragon AI enables users to create personalized headshots that capture their best angles and present themselves professionally and engagingly.

Eightify - Get key ideas on YouTube videos instantly with AI

https://eightify.app

As we work to upskill and appeal to future employers, much of our learning can be on YouTube. Eightify will use AI to summarize key points in long videos so that you can absorb as much as possible as quickly as possible!

🛠️ Browse our full Job Seeker Tool Directory

WARN Tracker

www.warntracker.com

A WARN (Worker Adjustment and Retraining Notification) notice is a notice required by the federal WARN Act in the United States, which mandates that employers with 100 or more employees provide at least 60 days advance written notice of a plant closing or mass layoff affecting 50 or more employees.

WARNtracker tracks these and conveniently displays them in a database. They have also recently launched a new job board with 16,000+ jobs from over 300 companies!