Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners

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Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
Nov / Dec 2020   Vision of
                         the future
                         What post-pandemic HR &
                         Recruitment challenges will
                         drive talent tech innovation?

Plus...TIARA 2020
Recruitment Awards
Winner Supplement
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
The perfect fit
                           for recruitment

The next chapter
in recruitment software.

www.itris.co.uk
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
01

Leader

The burning platform
What are the new priorities for employers, recruiters and candidates that talent tech needs to
address and why do we need a crisis to get people to use these tools properly?
We have reported on some great examples                                        We also explored new recruiter models that
of tech transformation over the last year, and                                 deliver more value to employers, and how best
recognised a few with TIARA awards.                                            to invest in tech transformation to enhance
                                                                               equity value and future proof services.
NHS Professionals won this year's TIARA
Innovation Award for its Rapid Response                                        Poor adoption and implementation are still the
initiative, which meant having to accelerate a                                 biggest barriers to successful transformation,
major transformation programme. Cpl UK won            Alex Evans,              with a burning platform often required to
the TIARA Tech Transformation Award for the           Executive Editor         address it. Read on for more insights, and more
speed of design and implentation of its MyCpl                                  answers to the industry's buring questions.
platform to source vital staff for Ireland's HSE.

Speaking at our (virtual) World Leaders in
Recruitment conference earlier this month,
CEOs of both organisations observed that
                                                                   As many of our TIARA winning leaders
communicating a clear sense of purpose and                 observed this year, take the energy from this
a problem that needed fixing enabled them to
achieve the engagement needed to pivot and                  crisis and direct it into a purpose that brings
transform at speed and scale.
                                                           your team together - whether it's supporting
Julia Robertson, CEO of Impellam, echoed                            the healthcare system or driving D&I.
this in her lockdown leadership lesson. "We
had begun a major transformation and had to
decide whether to continue though lockdown
or focus on survival," she explained. "We chose
to transform because Covid shone a spotlight
on all of the things we needed to change. This
added to workloads but it gave a clear vision and
hope for the future while justifying the tough
decisions."                                                                    About TALiNT Partners
                                                                               TALiNT Partners provides insight, content,
A legacy lesson from this panel and other                                      connections and strategic support to the world’s
leaders in TALiNT events over the last couple of                               recruitment & talent acquisition leaders.
months is to take the energy from this crisis and                              We work hard to connect, collaborate and
direct it into a purpose that brings your team                                 concentrate our efforts to ensure our events,
together - whether it's supporting the healthcare                              experiences, consultancy and media solutions
system or driving D&I.                                                         offer the best support for the talent industry.

The big question going into 2021, particularly                                 Published by Talent Intelligence Partners Ltd
in light of hopes for the new vaccines that will                               Upper Ground Floor
be deployed in coming months, is how can you                                   18 Farnham Road
                                                        Look out for more      Guildford
achieve the same sense of urgency, engagement       insights from our World
and forgiveness around tech transformation           Leaders in Recruitment    Surrey GU1 4XA
without a global crisis?                              event in the Jan / Feb   www.talint.co.uk
                                                          issue of TALiNT
                                                        International and
This month, we invited TIARA-winning recruiters,       highlights from the
RPOs and Talent Tech Stars to highlight the big     Tipping Point for talent   Editorial: alex@talint.co.uk
new post-pandemic problems that need fixing                   leaders          Features: dawncreativemedia@outlook.com
and what will drive innovation.                                                Advertising & Sponsorship: andy@talint.co.uk
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
02

     TALiNT Scene
      TALiNT had a busy September with Ireland and Benelux conferences, roundtables with private
      and public sector heads of TA and M&A webinars for Agency, RPO and HR Tech leaders...

                                                                                  22nd Sept - TALiNT Partners
                                                                                  and Osborne Clarke kicked
                                                                                  off the PointSix M&A in a
                                                                                  week series of webinars
                                                                                  by exploring the risks
                                                                                  and rewards of build,
                                                                                  buy or partner for tech
                                                                                  transformation with the
                                                                                  OC's Andrew Saul and
                                                                                  Optima's Philip Ellis. PointSix
                                                                                  members Luke Williams,
                                                                                  CEO of Ignata and Maria
                                                                                  Vavoulas, COO of The Hive,
                                                                                  shared lessons their build
                                                                                  and partner experiences
                                                                                  (see their case studies on
                                                                                  page 24).

     22nd Sept - Research by Oleeo and
     Aptitude Partners found that 63% of
     companies say quality of hire is their
     greatest challenge and 80% consider
     this a recruitment metric, not a hiring
     manager metric. This means TA leaders
     are being held accountable for what
     happens once a candidate has accepted
     an offer, but few organisations have a
     standard around measuring it.

     How can talent acquisition teams keep
     their recruiting seamless? How can they
     deliver good candidate experience and
     add value to the business when talent
     supply exceeds demand? TALiNT Partners
     hosted a webinar discussion to explore
     some practical solutions with Jennifer
     Herbert, Head of People at Oleeo, and
     Tom Webb-Skinner, Resourcing Manager
     at British Transport Police (BTP).

TALiNT International Nov / Dec 2020
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
03
                                                                                     23rd Sept - Day two of PointSix M&A
                                                                                     in a week brought together Matthew
                                                                                     Bodfield from Osborne Clarke; Bruce
                                                                                     Trewhella of Access Group; and Sohail
                                                                                     Ahmad of Azlan Advisory for a buy
                                                                                     and sell side perspective on the M&A
                                                                                     landscape for Recruitment and HR
                                                                                     tech firms - with a wealth of data and
                                                                                     insight on deals and predictions for the
                                                                                     next 3 to 6 months.

24th Sept - Osborne Clarke's Frances Lewis outlines
the three new recruiter models that investors are most
interested in, and why, with an update on M&A deals
and drivers from Clearwater's Marcus Archer. Adam
Thompson, CEO of TIARA Talent Tech Star Winner
JoinedUp shared his experiences of building a Saas
platform out of a recruitment business and VHR CEO
Danny Brooks explained how training talent to order has
helped him build long-term client relationships. See their
case studies on page 28.

                                                             24th Sept - TALiNT's Benelux event for Inhouse Leaders
                                                             presented insight from partners Bullhorn and Jobteaser and
                                                             peer learning from speakers including Jennifer Boulanger,
                                                             Head of Talent at Lovevery; Veronika Brantova, Employer
                                                             Relations Manager at Rotterdam School of Management,
                                                             Erasmus University; and Patrick Philips, Career Counsellor at
                                                             Trinity College Dublin Business School.

                                                                                     TALiNT International Nov / Dec 2020
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
04

      TALiNT Scene
      TALiNT brought together agency and inhouse leaders at its virtual World Leaders and Tipping
      Point events with some of the industry's most influential and knowledgable speakers

                                                                           25th Sept - The final webinar in the
                                                                           PointSix M&A in a week series brought
                                                                           together Thomas Leister from Osborne
                                                                           Clarke's German office; 6CATS chairman
                                                                           Graham Pulfery-Smith; and Antal
                                                                           International founder & chairman Tony
                                                                           Goodwin to share insights on the best
                                                                           new markets for recruiters to expand
                                                                           into and how to manage the risks.

     30th Sept - TALiNT's Public
     Sector event for Inhouse
     Leaders presented practioner
     perspectives on post-Covid TA
     challenges from Paul Deemer,
     Head of Diversity and Inclusion
     at NHS Confederation; Tom
     Webb-Skinner, Resourcing
     Manager at British Transport
     Police and Douglas Shirlaw,
     Chief Digital Officer at COSLA
     shared insights alongside
     sponsors Hollaroo and Oleeo.

TALiNT International Nov / Dec 2020
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
05

                                     22nd October - Fifteen HR and Talent
                                     Leaders from the north west joined
                                     TALiNT and sponsor Cornerstone on
                                     Demand to debate the evolving role
                                     of TA as it increasingly encompasses
                                     more activities traditionally
                                     associated with talent management.
                                     This fascinating discussion also
                                     included re-purposing existing
                                     technology to meet some of the
                                     challenges presented by Covid and a
                                     brilliant example from Foot Asylum
                                     on how to reject candidates with
                                     empathy (which is worth an editorial
                                     in it's own right, and you can read it
                                     on page 20).

4th November - Our World
Leaders in Recruitment event
brought together leaders of
several multi-billion recruiters
including Julia Robertson of
Impellam, James Reed, Nicola
McQueen of NHS Professionals
and Affi Kahn of newly merged Cpl
UK to share their lockdown lessons
on leadership and technology.
The event was supported by
SourceBreaker, Bullhorn and
BlueSky PR, with insights from Nat
West economist Neil Parker.

                                       10th November - This year's
                                       Tipping Point was supported by
                                       Arctic Shores, Omni and Reed
                                       Talent Solutions. Attendees
                                       enjoyed hosted virtual discussions
                                       with afternoon tea and two great
                                       keynotes: one from British writer,
                                       broadcaster and former politician
                                       Trevor Philips and the other from
                                       work happiness and career change
                                       expert Emma Rosen, author of
                                       'The Radical Sabbatical'.

                                        TALiNT International Nov / Dec 2020
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
06

     Contents                                                              Contributors

     08 News analysis
     08 Youth job crisis 'worst in decades'
     09 Workers still unconvinced on gig economy
     10 80% of workers 'don't have right skills'
     11 Improved trading boosts recruiter results
     12 Oz recruiters surf market recovery

     14 Cover feature                                                       Katrina Hutchinson O'Neill      Adam Hawkins
     14 What are the post-pandemic drivers of                                       Join Talent               LinkedIn
     talnt tech and TA innovation?

     20 Candidate rejection
     20 The art of saying no from Footasylum

     24 Build or buy & why?
     24 Which tech transformation model has the
     lowest risk and the highest reward?

     28 Recruiter models                                                           Chris Gray
                                                                                 ManpowerGroup
                                                                                                            Pam Beard
                                                                                                           Guidant Global
     28 How training, consultancy & Saas services
     are helping recruiters to create more value

     30 TIARA Recruitment
     Awards Winners
     30 Profiling 16 award winning recruiters

     62 Search & Selection
     62 How to streamline candidate experience                                   Maria Vavoulas            Michael Rendell
     with higher volumes of applications                                           The Hive                Nala Ventures

     65 Share schemes
     65 Making incentives work for top talent

     66 TALiNT Talk
     66 Debra Sparshott asks if HR is making the
     most of their talent tech
     Picture credits: Shutterstock, iStockphoto and Unsplash
     Cover: iStockphoto                                                          Duncan Cheatle            Louise Rayner
                                                                                   LearnAmp                 NumberMill
     Disclaimer: This publication has been prepared for the exclusive
     use and benefit of the readers of TALiNT International and other
     contacts of TALiNT Partners and is for information purposes only.
     Unless we provide express prior written consent, no part of this
     publication should be reproduced, distributed, or communicated
     to any third party. You must not rely on the information in this
     publication as an alternative to advice from an appropriately
     qualified professional. In no event shall TALiNT Partners or
     any of those contributing to this publication be liable for any
     special, direct, indirect, consequential, or incidental damages
     or any damages whatsoever, whether in an action of contract,
     negligence, or other tort, arising out of or in connection with the
     contents of this publication.                                               Frances Lewis              Richard Collis
                                                                                 Osborne Clarke          Saffery Champness
     © Talent Intelligence Partners

TALiNT International Nov / Dec 2020
Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
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Vision of the future - Plus...TIARA 2020 Recruitment Awards Winner Supplement - Talint Partners
08

     D&I

     Youth jobs crisis 'is worst in decades'
     Around one in five young people
     who were furloughed during the first
     lockdown have since lost their jobs,
     according to new research by The
     Resolution Foundation.

     The independent think tank warns
     that the UK may be facing its highest
     level of youth unemployment in four
     decades.

     Supported by the Health Foundation,
     the ‘Jobs, Jobs, Jobs’ report draws
     on an online YouGov survey of 6,061

                                                                                                        314K
                                                   The furlough extension is no help to
     adults across the UK to analyse how           many under the age of 25
     the labour market has changed
     during the first eight months of the
                                                                                                           number of
     crisis. Of all surveyed workers who
                                                                                                        redundancies in
     have been furloughed during the            survey implies an unemployment rate
                                                                                                        the last quarter
     pandemic, around half have returned        of 7% in September – well above the
                                                                                                       according to ONS
     to work, one in three are still fully or   latest official figures of 4.8% – rising
     partially furloughed, and almost one       to 20% among 18 to 24 year olds.
     in ten (9%) have lost their jobs.          This would mean the UK is already
                                                facing the highest levels of youth          these struggling sectors are flowing
     The post-furloughing fall into             unemployment in four decades.               into areas of the labour market that
     unemployment has been most                                                             are able to grow during this pandemic.
     common among 18 to 24 year olds            The report notes that fewer than
     (19%), workers from black, Asian and       half of those who have lost their jobs      Commenting on the findings, Kathleen
     minority ethnic (BAME) backgrounds         since March had found new work by           Henehan, Senior Research and Policy
     (22%) and those previously working         September, falling to just one in three     Analyst at the Resolution Foundation,
     on insecure contracts (22%).               among young people, and 36% of              said: “Even if the public health crisis
                                                people in hard-hit sectors.                 recedes in a few months’ time,
     The Foundation adds that the scale                                                     Britain’s jobs crisis will be with us for
     of unemployment identified in its          There is little sign that workers exiting   far longer.”

     New tool to rank employers for D&I
     A new ratings system introduced by         FAQ resource offering a list of the
     Glassdoor is set to separate the           most popular questions job seekers
     companies that are genuinely               ask about companies, with responses
     committed to Diversity & Inclusion         taken from submitted reviews.
     from those leveraging the trend to
     improve their profile.                     Glassdoor Communications Director
                                                Joe Wiggins says the company’s
     The ‘Diversity & Inclusion Rating’ is      research shows more than half of UK
     Glassdoor’s newest workplace factor        employees and job seekers trust
     giving employees the opportunity to        other employees the most when they
     rate how satisfied they are at their       want to find out what a company is
     current or former company, based on        really like to work for, whether
     a five-point scale. The website            discussing diversity, culture, career
     enables workers to anonymously             prospects or pay. In comparison, less
     submit reviews.                            than one in 10 would trust the
                                                company website and a mere 4%
     The platform is also debuting a new        would trust company recruiters.

TALiNT International Nov / Dec 2020
09
Employment

Recruiters welcome furlough extension
Industry leaders have praised the
government’s extended furlough
scheme as a much-needed support
for UK businesses as redundancies
hit record levels.

While unemployment climbs,
recruiters see a glimmer of light
ahead due to a hiring resurgence. UK
unemployment increased to 4.8% in
the three months to September,
according to the latest update from

                                                                                                  230k
the ONS, with young people among
the worst affected.
                                            The Institute for Employment Studies
                                                                                               jobs likely to be saved
Redundancies surged to a record             predicts 600,000 lay-offs by December
                                                                                                 by the Jobs Support
314,000, an increase of a record                                                                Scheme according to
181,000 on the quarter, reflecting                                                                     the IPPR
how many companies made                   a third below normal levels. The job
employees redundant as they               site’s October market report showed
prepared for the end of the furlough      promising signs, with an 8.9% increase    strengthening economy and continued
scheme, originally slated for October.    in UK vacancies from August to            government support for our
                                          September – but the second                businesses big and small.”
The Govt’s decision to extend             lockdown stalled recovery.
furlough until March, announced as                                                  APSCo called for greater clarity and
England went into its second              Hunter warns of another redundancy        swifter action over coming months.
lockdown, is clearly too late for many.   spike once support is removed. “It’s      “Confusion as to the exact support
However, recruitment experts have         clear that many sectors are keeping a     available and delayed responses have
widely backed the extension as a          lid on hiring while we battle the         impacted staffing companies across
necessary initiative.                     second wave of the virus,” Hunter         the country, leading to jobs lost and
                                          says. “Confidence is key to getting       some businesses placed in difficulty,”
Andrew Hunter, Co-founder of              Britain hiring again, and that will       said Tania Bowers, APSCo Legal
Adzuna, says hiring is tracking around    come from keeping the virus at bay, a     Counsel and Head of Public Policy.

Workers still unconvinced on gig economy
Four out of five workers would            the future of work, drawing on
rather have a permanent job than          surveys of more than 11,000 workers
be their own boss in a freelance or       in six countries, including the UK.
contract role, according to a new
study by the ADP Research Institute.      While many workers coming off
                                          furlough face an uncertain future, a
Even though the gig economy is            considerable number will join the gig
booming, many workers believe that        economy. One in seven workers in the
a permanent job is preferable for a       UK job market are on flexible
host of reasons including regular         contracts, up 25% in the last two
hours, better pay, timely payments,       decades.
and the ability to get credit.
                                          Expected growth in the flexible
The ADP Workforce View 2020               workforce is creating new tech
Volume Two post-Covid-19 report           challenges and opportunities for
explored how employees felt about         recruitment, RPO and umbrella firms.

                                                                                        TALiNT International Nov / Dec 2020
10

     Workforce

     80% of workers 'don't have right skills'
     Just 16% of new employees possess
     the skills they need for their current
     and future roles, which highlights
     why employers are struggling to hire
     quality talent, according to global
     research and advisory firm Gartner.

     Despite an increasing number of
     job-seekers in the market, companies
     need to dramatically rethink their
     recruitment strategies to find the
     workers they need. Gartner data
     shows that existing roles may require
     up to 10 new skills by 2021, at a time
     when economic instability has made
     traditional talent pools less viable as

                                                                                                        70%
     high-quality candidates with
     traditional qualifications are unlikely
     to leave their current positions.
                                                   Hiring managers need to consider talent
     Lauren Smith, Vice President in the           from different locations and backgrounds.            of STEM employers
     Gartner HR practice, advocates that                                                               are struggling to find
     organisations pivot from ‘replacing                                                                  the right talent
     the workforce’ to ‘shaping the             quality of hire. High-quality talent can
     workforce’ – that is, placing less stock   have a significant impact on business
     on traditional talent pools and            outcomes, including individuals who
     sourcing more broadly, defining            successfully perform in their roles            still actively hiring – but 70% say
     needs based on skills rather than          20% faster and teams that get a 19%            finding the right talent is a challenge.
     hiring profiles, and creating              boost in their ability to meet future
     responsive employment value                challenges.”                                   However, more than half of specialist
     propositions (EVPs).                                                                      recruiters said hiring managers in
                                                TECH DEMAND                                    STEM industries were unwilling to
     “Traditional recruiting methods are        STEM (Science, Technology,                     consider a larger pool of candidates
     unable to compete with the large-          Engineering and Mathematics) is a              – for example, people from different
     scale shifts to the workplace and the      prime example of an area where new             locations or backgrounds – limiting
     labour market,” she says.                  thinking is desperately required to            available talent for interview. The
                                                combat chronic skills shortages.               survey canvassed more than 1,000
     “The best recruiting functions that        Recent research by UK global                   international STEM leaders and niche
     excel in these workforce-shaping           recruiter SThree found three quarters          recruitment experts, as well as SThree
     behaviours see a 24% increase in           of employers in STEM industries are            internal data.

     Shrinking TA teams more reliant on RPOs
     An increasing number of employers          departments. This is according to a            positions quickly.
     are turning to RPOs to meet new            new report by Alexander Mann
     hiring challenges.                         Solutions and Aptitude Research                In its own survey of HR and
                                                which examines talent acquisition              Procurement professionals, Guidant
     In early 2020, 8% of companies used        trends across North America, EMEA              Global found that just 21% currently
     an outsourced model, but during the        and APAC. It found that 38% of                 have Total Talent Acquisition strategies
     pandemic this number doubled as            companies put their recruitment on             in place and 72% indicated that they
     almost half of companies experienced       hold as a result of Covid-19 and over          will be exploring this within the next
     layoffs across their talent acquisition    60% said their top priority is filling         two years.

 TALiNT International Nov / Dec 2020
11

Industry

Improved trading boosts recruiter results
ManpowerGroup, Adecco, Randstad,
Hays and PageGroup all welcomed
better third quarter results from
improved trading conditions, despite
continued uncertainty about a
sustained recovery.

Manpower reported revenue of $4.6
billion, a 13% decline from the prior
year period. While the results were
impacted by $50 million in
restructuring costs as well as a
weaker US dollar, the group pointed
to five months of improvement since
April.
                                                                                            500
                                                                                            of the UK's top
                                                                                         performing recruiters
At Adecco, revenue was down 15%                                                         are ranked by turnover,
year-on-year organically and trading                                                    NFI and PBT at https://
days adjusted (TDA), and down 18%                                                       powerlist.talint.co.uk/
on a reported basis, but with            on year. CEO Jacques van den Broek
broad-based improvement as the           says trading conditions gradually
quarter progressed. The company          recovered in most of the group’s
reported its gross margin was up 20      markets during the quarter, with         stable and there had been some
bps year-on-year to 19.6% (up 40 bps     positive momentum continuing in          improvements in Perm, particularly in
organically), and an EBITA margin        October.                                 markets previously hardest hit by
excluding one-offs of 4.5%, with an                                               lockdowns.
organic recovery ratio at 64%.           Hays reported an 29% overall drop in
                                         net fees for the third quarter, with a   PageGroup announced a gross profit
GRADUAL RECOVERY                         35% decline in permanent fees and a      of £143.5 million for the third quarter,
Randstad reported a 13.1% decline in     25% drop in temporary fees. The UK       down 31.9%, compared to a 47.6%
organic growth for the quarter on        and Ireland were the hardest hit in      decline for the second quarter. The
underlying EBITA of €199 million, an     the group’s portfolio, down 34%. Chief   group declared a “strong cash
EBITA margin of 3.9%, and a gross        Executive Alistair Cox says the Temp     position” of around £152 million net
margin of 18.9%, down 120bp year         business has remained encouragingly      at the end of September.

Resilient recruiters must focus on talent
Consultant retention is a key            Income (NFI) in excess of £50 million    benefits of automation and
challenge for recruiters who have        indicated optimism had remained,         cloud-based systems.
shown resilience through the             with an average score of eight.
pandemic, according to new survey                                                 The high attrition long prevalent
findings from APSCo and                  However, gaps in staff retention and     across hiring companies is another
accountants Saffery Champness.           technology investment could hinder       potential problem for growth,
                                         progress. The research found that        though smaller firms appear to be
The survey asked businesses to score     83% of firms with an NFI over £10        faring slightly better than larger
their company between one and 10         million have, or continue to develop,    ones in this regard. Over 53% of
across a number of operational,          sector-specific technology; but 35% of   firms with an NFI below £10 million
organisational and financial criteria,   those with an NFI under £2 million       scored themselves eight and above,
with 10 indicating ‘best in class’.      scored themselves less than five on      whilst just 46% of companies with
When assessing operational               tech, indicating many smaller            an NFI greater than £50 million
resilience, those with a Net Fee         companies have yet to reap the           rated themselves as highly.

                                                                                      TALiNT International Nov / Dec 2020
12

     International

     TRC & PI each win the double at Aus TIARAs
     Winners of the 2020 TIARA
     Recruitment Awards in Australia          Find out more about
     were revealed in a virtual ceremony       this year's winners
     attended by more than 100 leaders         and why they won
     from the country’s top performing            at https://aus.
     Recruitment companies.                     tiara.talint.co.uk/
                                                  winners-2020/
     “On the back of one of the hardest
     trading periods on record, this year’s
     pandemic-defying TIARA winners
     have triumphed to achieve continued
     growth and development in their
     businesses," said David Head,
     Director of TALiNT Partners, who                The Recruitment Company won two awards
     hosted the TIARAs on 13th                       for innovative use of tech & best training
     November.

     People Infrastructure and The               The Recruit Wizard Client Service           people2people who won the Recruit
     Recruitment Company were both               Award and Morgan McKinley who               Wizard Candidate Experience Award
     multiple Award winners, each                won the Best Mid-Sized Recruitment          and Launch Recruitment who took
     completing the ‘double’. People             Company To Work For accolade.               home the Bullhorn CSR Initiative of
     Infrastructure were successful in both                                                  the Year. The Volcanic Brand of the
     the Bullhorn Diversity & Inclusion          Several companies made a successful         Year was won by Smaart and the
     Award as well as The Best Large             return, winning trophies for the            Growth Company of the Year went to
     Recruitment Company To Work For.            second or third year running.               HorizonOne.
     The Recruitment Company were                TaylorCare were crowned The
     victorious in the Most Innovative Use       Volcanic Specialist Recruitment             Long term sponsor of the Awards the
     of Technology and the Best Training &       Company of the Year and Harrier held        Ayers Group was on hand to present
     Development Award.                          onto their Best RPO crown.                  two awards. The Ayers Group Rising
                                                                                             Star Award went to Talenza and the
     New winners this year included              There were also wins for Horner in          Ayers Group Best Small Recruitment
     Sullivan Consulting who picked up           the Back-Office Team of the Year,           Company went to Entrée.

     Oz and Kiwi recruiters surf global recovery
     International recruitment markets           positive picture of the recruitment         back from April and has flatlined since
     are bouncing back from the impact           sector as they demonstrate market           June, likely due to the country’s low
     of the global pandemic, but new             recovery and an upward trend for            Covid case numbers helping them to
     waves in the UK, the US and Canada          new jobs, placements and agency             return to ‘Business as Usual’.
     are prolonging economic                     user numbers.
     uncertainty, new research reveals.                                                      New job orders in the UK climbed back
                                                 “While it is very encouraging to see        consistently from April, with a big surge
     The inaugural 2020 Global                   the market showing signs of recovery,       in September, while the US and Canada
     Recruitment Report, released by             it’s prudent to remain cautiously           have steadily grown.
     recruitment software company                optimistic as there is still significant
     JobAdder, takes a deep dive into the        economic uncertainty."                      TEMP RECOVERY SLOWER
     impact of Covid-19 on the Australian                                                    Australia and New Zealand have shown
     and New Zealand markets, compared           From May, new job orders started to         steady growth in permanent
     to markets such as the UK, the US           climb again in Australia, although          placements since April, but temporary
     and Canada.                                 there was a small drop off in August,       placements in Australia were slower to
                                                 where the impact of Melbourne’s             bounce back. New Zealand bounced
     Commenting on the main findings,            ‘second wave’ and the subsequent            back fast in May with a worrying drop
     JobAdder CEO Martin Herbst says:            lock-down laws were likely to blame.        in September, potentially due to an
     “Overall, the numbers paint a fairly        New Zealand saw a powerful bounce           election.

 TALiNT International Nov / Dec 2020
14

      Cover feature - Talent Tech Trends

     “Helping people upskill and adapt to this fast-changing world of work will be
      the defining challenge of our time. The future of work will require different
      skills and leaders will need to focus on reskilling and upskilling their people
      more than ever before.”
      Chris Gray, Salees & Marketing Director, ManpowerGroup

      The Covid catalyst
      What are the post-pandemic drivers of tech transformation for employers and what new problems do
      talent solution providers need to solve?

      As Microsoft CEO Satya Nadella said recently,                               but it has also created new management
      “We’ve seen two years’ worth of digital                                     challenges and client expectations.
      transformation in two months”. Covid 19 has
      accelerated change in how we work, and the                                  “Moving to 100% virtual working has had its
      adoption of technology and data to work                                     challenges, but recruiters have proved that they
      smarter. The pandemic has created new talent                                can maintain productivity and performance
      challenges, so what are the key priorities for                              levels,” says Adam Hawkins, TIARA judge and
      employers, how have their vendor expectations       By Alex Evans,          Head of Search Staffing at LinkedIn. “This shift
      changed, and what will drive innovation in talent   Executive Editor        means that recruitment firms are now able to
      solutions 2021?                                                             offer their people more options around where
                                                                                  they work, which enables greater diversity in the
      Who better to ask than winners of our TIARA                                 industry by creating more options for working
      Talent Solutions Awards and Talent Tech Star                                parents and people with dependents.
      Awards – and those who judged them?
                                                                                  “Customers expect greater agility from recruiters
      “The pandemic and the resulting economic                                    in terms of managing the entire hiring process
      difficulties have brought about three major                                 virtually and seamlessly. Firms that have the
      challenges for organisations when it comes to                               technology infrastructure to support everything
      their people,” says Stuart Hearn, CEO of Clear                              from virtual interviews to onboarding will be
      Review, which was voted Talent Tech Champion                                those that maintain strong client relationships.”
      of Champions in September.
                                                                                  This was an expectation before the pandemic,
      “Firstly, most organisations have had to                                    with early adopters better able to adapt than
      dramatically change their talent strategy.                                  their competitors.
      Secondly, cost cutting means most organisations
      need to get more for less from people, which                                “Employers are looking for a higher value and
      means improving employee productivity and
      performance. Thirdly, remote or 'hybrid working'
      is here to stay, so managers need to motivate
      and support their staff to deliver work and
                                                                 “The pandemic has put real pressure on
      develop their skills with less face to face time.   technology that allows for collaboration across
      “And all this is set against a backdrop of              teams and individuals in different locations.
      increased levels of personal stress and anxiety           New solutions need to adapt to the large
      due to the pandemic, so employee wellbeing is
      critical alongside the need for greater              brainstorming meeting and the more intimate
      productivity. These are the challenges that
      organisations are coming to Clear Review to
                                                                  one on one, where feedback and career
      solve right now.”                                                           coaching can be given.”
      Technology may have enabled remote working,                            Michael Rendell, Founding Partner, Nala Ventures

TALiNT International Nov / Dec 2020
360-degree service. A solution that truly comes                                candidates and clients alike want seamless
up the value chain and comfortably blurs the                                   services.”
lines between ‘vendor and client’ is what we
believe a modern partnership will be founded                                   Compliance has moved up the priority list as the
upon,” observes Katrina Hutchinson O’Neill, CEO                                Government has introduced more employment
of Join Talent and winner of the TIARA Best New                                legislation that affects contingent labour. “This is
Talent Solution Award.                                                         coming from all angles, from HMRC, BEIS, DWP,
                                                       Katrina Hutchinson
                                                                               highlighting non- compliance and tax evasion in
                                                       O'Neill, Join Talent
“The drivers of tech transformation are not any                                their spotlights,” says Louise Rayner, CEO of
different than before; it’s just the focus areas                               NumberMill, shortlisted for a Contractor and a
within that which have either been dialled up or                               Compliance Solution of the Year award for the
down in the current phase of the labour market                                 quality of its accountancy support.
impacts of COVID. In particular, top of funnel
assessments to help companies manage very                                      “The Criminal Finance Act and IR35 are just
high application levels, and digital tools for areas                           further examples of the attempt by Government
like onboarding and ID&V documentation                                         to extend liability up the chain. The Matthew
                                                       Louise Rayner
validation are red hot areas of focus across                                   Taylor report & GLAA focuses on eliminating
                                                       NumberMill
nearly every sector.                                                           exploitation and modern slavery. Ultimately,
                                                                               failure to ensure compliance will result in
VOLUME APPLICATIONS                                                            significant reduction in shareholder value for
The economic impact of lockdown is set to                                      recruiters, RPOs and umbrella firms.”
exponentially boost the gig economy and
contingent workforce, creating challenges and                                  This, combined with rising demand for
opportunities for the talent acquisition industry.                             contingent workforce solutions, has driven
                                                                               innovation in compliance, assessment, and
“Un-furloughing millions of workers will trigger                               onboarding solutions. People Group won
an unprecedented unemployment event for the                                    Compliance Solution of the Year for enabling an
UK,” says John Whelan, CEO of My Digital and                                   80% reduction in the time spent on it. Judges
former MD of Paystream. “There will be a wave
of job-hunting in a market where needs have
radically changed. Candidates have valid               “The problems that need to be solved are things
concerns about office COVID safety, commuting
and work-life balance. Job hunters are looking            like the more rapid deployment of blockchain
for Quantum Employment, where traditional
roles are sliced and diced to meet the changing
                                                          into the contingent procurement process and
needs of the economy.                                    full integration of smart ID&V validation tech
“Being able to use smart technology to bulk                     into mainstream FMS & VMS platforms.”
match invoices to bank details translates directly
to the customer experience. With expectations                                    Katrina Hutchinson ONeill, CEO, Join Talent,
set by smartphone apps which almost never fail,                               Winner TIARA Best New Talent Solution Award

                                                                                               TALiNT International Nov / Dec 2020
were impressed with its People Compliance                                      advantage. Recruiters are in a unique position as
      solution, which uses biometrics and facial                                     trusted advisers to counsel their clients on how
      recognition to validate identity documents and                                 to broaden their talent pools and attract a wider
      can recognise 4,500 identity documents from                                    spectrum of talent with different skill sets.”
      over 190 countries. Speed is a growing priority.
                                                                                     Re-skilling and up-skilling of candidates presents
      Rising unemployment is driving applicant                                       a new challenge and opportunity for the
                                                             Chris Gray
      volumes through the roof, which makes the                                      industry as it tries to balance diverse pipelines
                                                             ManpowerGroup
      candidate screening process unmanageable for                                   with an evolving jobs market.
      many jobs.
                                                                                     “The jobs that have been lost in this crisis are
      “Many recruiters are talking about a shift in                                  not the same as those that are being created,”
      focus from ‘hard to source’ to ‘hard to select’,”                              says Chris Gray, Sales & Marketing Director of
      says Talent Tech Star finalist Chris Platts,                                   ManpowerGroup. “Employees need to be open
      Founder of ThriveMap. “This presents an                                        to training and employers need to be poised to
      opportunity to redesign hiring processes so that                               offer new levels of development to upskill their
      recruiters spend more time on high-value               Chris Platts            teams for the new normal. Helping people
      activity such as candidate relationships and less      ThriveMap               switch from role to another will be critical.”
      time on manual processes like CV sifting and
      candidate screening. Our assessments give                                      RESOURCE AUGMENTATION
      candidates a virtual ‘day in the life’ experience                              Agencies are building longer-term relationships
      so they're better placed to decide if it's right for                           with clients by training talent to fill new roles
      them ahead of joining.”                                                        instead of moving the usual suspects around.
                                                                                     Specialist recruiters like VHR and Opus Talent
      In a candidate survey, ThriveMap found that                                    Solutions were shortlisted for the TIARA
      48% left a job because the reality of the role
      didn't meet their expectations of it. While
      recruiters and RPOs are doing more to drive
      diversity, inclusion is an often-neglected
      challenge that talent tech can help to address.
                                                                                   “Talent tech providers need to find
      “It’s going to be even more important for
      companies to assess talent on their skills, as                         solutions to the problem of how to build
      opposed to their experience,” says LinkedIn’s                         professional relationships when you may
      Adam Hawkins. “Doing so will mean they have
      the opportunity to attract more diverse talent                                         never meet face-to-face.”
      and build organisations where difference is
      celebrated and seen as a source of competitive             Mike Lander, CEO, Piscari and TIARA Talent Tech Star Awards judge

TALiNT International Nov / Dec 2020
TALiNT International July / August 2020
18

     Cover feature - Talent Tech Trends

     “There is growing urgency from companies to diversify their talent and create
      workplaces where people truly feel that they belong. Recruiters are in a unique
      position as trusted advisers to counsel their clients on how to broaden their
      talent pools and attract a wider spectrum of talent with different skill sets.”
      Adam Hawkins, Head of Search Staffing, LinkedIn and TIARA Awards judge

     Recruitment Awards for the success of their                                 this can have an impact on the employee
     training services.                                                          experience. Employees need to know why
                                                                                 they’re being asked to learn something and how
     Skills mapping is another area of opportunity for                           it fits in within the bigger picture of the
     impactful innovation. “A significant challenge in                           organisation. Once they have this context,
     the management of contingent workforces is the                              they’re able to align their learning and
     need to have real time access to skills and                                 development with the goals of the company,
     experience data instead of relying on backward       Michael Rendell        which better equips and enables them to do
     looking CVs and self-assessments by                  Nala Partners          their job.
     contractors,” predicts Michael Rendell, former
     head of transformation at PwC and now                                       “With remote working, it’s easy for people to be
     managing partner at Nala Ventures. “Skills                                  forgotten, so we’re also seeing a focus on ways
     passports must emerge which draw upon all                                   to reshape communication, so we don’t lose the
     relevant current data – projects worked on and                              connections we had while in the office.”
     working on, contacts and connections with
     colleagues, and the digital exhaust created by all                          MAKING CONNECTIONS
     their interactions.”                                 Adam Hawkins           Recruitment consultants also need to connect
                                                          LinkedIn               more with clients and candidates. “All too often
     This relies on lots of data and the resources to                            recruiters can get caught up in the low value
     manage it properly of course. “With remote,                                 administration tasks, but with automation and
     flexible and temporary workforces that are                                  bots, they can focus on doing what they do best:
     managed and engaged by in-house teams,                                      developing high quality connections,” says
     suppliers and external agencies, it’s often                                 Guidant’s Pam Beard.
     difficult to get a true insight into the skills
     available within the business,” says Pam Beard,                             With so many talent tech tools emerging to solve
     SVP-Technology & Project Management, Guidant         Pam Beard              new problems, not only for employers but
     Global, Winner TIARA Talent Solutions D&I            Guidant Global         recruiters and RPOs looking for ways to add new
     Award. “That’s where data analytics will really
     come to the fore. At Guidant, we’re working on a
     ‘data lake’ where we’re building the capability
     into our analytics to leverage the data and
     provide complete workforce transparency.”             “We’re seeing a trend in more voice activated
     SKILLS SHORTAGES
                                                           communication which is likely to present both
     Michael Rendell also highlights a challenge               an opportunity and a challenge across the
     around skills shortages as work evolves and the
     limited resources available to a contingent                 talent solutions industry. Moving online
     workforce. LearnAmp, winner of the Talent Tech
     Star Learning and the Onboarding Solution of
                                                                  chatbots into voice activated bots is an
     the Year awards, has been helping employers to           innovative development that we’re already
     address this challenge for the last few years.
                                                           investing in; but the challenge lies in ensuring
     “The current climate has created a need to find
     new learning solutions as everything is so
                                                            it works for the employer and the candidate.”
     uncertain,” says LearnAmp founder Duncan
     Cheatle. “We’re focused on context and
                                                                 Pam Beard, SVP-Technology & Project Management, Guidant
     alignment when it comes to learning, and how
                                                                           Global, Winner TIARA Talent Solutions D&I Award

TALiNT International Nov / Dec 2020
“Gallup estimate that only 12% of employees think their companies provided good
    onboarding – and that was before the pandemic. Strong onboarding improves
 employee retention by over 80%, it leads to faster and higher rates of productivity
       for new hires and helps to create more cohesive teams by making them feel
                                   connected and invested in the company culture.”
                                                     Duncan Cheatle, Founder, LearnAmp, Winner TIARA Talent Tech
                                                                   Star Learning & Onboarding Solution of the Year

value, the market has become even more                                   to integrate key capabilities on a ‘plug and play’
complex for buyers.                                                      basis into one platform so that we can tailor our
                                                                         offerings to meet client and candidate needs,
“There is no escaping the urgent corporate need                          and importantly provides us with the flexibility
for savings and improved ROI in this economic                            to constantly refresh our capabilities to stay
climate,” says Mike Lander, CEO of procurement                           ahead of emerging client needs,” says
specialist Piscari and former head of             Duncan Cheatle         ManpowerGroup’s Chris Gray. “This has never
procurement at AMS. “This must be balanced        LearnAmp               been more relevant as in 2020 and the health
with user experience, user engagement and                                crisis which has reshaped the way we work.
employee/contractor engagement.”
                                                                         “Helping people upskill and adapt to this
Mike recommends finding ways for them to be                              fast-changing world of work will be the defining
involved in the procurement process and looking                          challenge of our time. Business leaders must do
at how the solution integrates with other tools                          more to be responsible and responsive - the
they are already using.                                                  future of work will require different skills and
                                                  Mike Lander, Piscari   leaders will need to focus on reskilling and
“Our platform approach to technology allows us                           upskilling their people more than ever before.”

                                                                                        TALiNT International Nov / Dec 2020
20

     Candidate rejection

    "So often, rejection emails can be automated, robotic and
     repetitive as if there is a rejection template that they just send
     around to every unsuccessful candidate."

     The art of saying no
     A well-worded rejection email can boost your corporate brand. David Nottage from Footasylum shows
     how it’s done.

     When David Nottage posted a position for a                            climate and insecurity in the marketplace. I truly
     talent development specialist recently, it was not                    understand. My girlfriend was made redundant
     surprising that it attracted more than 600                            at the start of the pandemic and it has been a
     applications in less than a week.                                     difficult time for our household. I really do
                                                                           appreciate you taking the time to consider
     However, what happened next was surprising,                           Footasylum and I sincerely hope you find a role
     and a case book example of how to do rejection                        that suits and challenges you.
                                                          David Nottage,
     well – even at a time when companies are facing
                                                          Footasylum
     a tsunami of applications.                                            Keep going. It is tough and I understand it can
                                                                           make you feel low to receive an email like this,
     Instead of sending out a typical corporate                            but believe me we will all get through these
     missive which smacks of ‘the computer said no’,                       challenging times and I hope that in future you
     David Nottage, the Talent Attraction and                              can consider Footasylum as a brand you would
     Acquisition Manager at trainer and streetwear                         like to work with.
     retailer Footasylum - and a former professional
     footballer - decided to try a much more human                         Follow our LinkedIn page where we advertise all
     approach.                                                             of our latest roles and keep an eye on our careers
                                                                           site.
     His email to unsuccessful candidates
     acknowledged the sheer difficulty of applying for                     I wish you every success with your job search and
     jobs in such a tough market, but what really                          thank you for your interest in our company.
     impressed recipients was his authenticity,
     backed up by drawing on his own personal                              Sincerely,
     experience:                                                           David Nottage

     Dear ….,
                                                                           In a market where job seekers are used to
     Thank you for your interest in the Talent                             receiving robotic rejections, or nothing at all, the
     Development Specialist opportunity with us. This                      response was overwhelming – and a prime
     role proved to be very popular with more than                         example of the kind of positive corporate spin
     1000 people applying. This meant a huge number                        that money cannot buy.
     of suitable candidates being considered and
     having reviewed your application, we regret to                        Footasylum received a deluge of supportive
     inform you that it has not been selected for                          feedback via email, as well as thousands of likes,
     further consideration.                                                comments, and shares on social media
                                                                           platforms. Candidates clearly felt their time and
     I would say, I know that the marketplace is tough                     effort had been appreciated and valued; they
     right now and the fact we have had so many                            had been treated as people rather than
     applications is indicative of the current economic                    numbers.

TALiNT International Nov / Dec 2020
One candidate received more than 5,500 likes
and 200 comments for her LinkedIn post:                               Rejection Do's & Don'ts
“Just thought I’d share this email I received from
                                                                      Do
FOOTASYLUM. I applied for a role with them and
although I wasn’t successful it was so refreshing
to finally see a considerate and thoughtful                           Keep it human. While a template avoids legal
response.                                                             risk, try to avoid clichéd phrases and
                                                                      corporate speak.
So often, rejection emails can be automated,
robotic and repetitive as if there is a rejection                     Include a genuine thank you that
template that they just send around to every                          acknowledges the candidate’s time and effort.
unsuccessful candidate. But this email was
actually somewhat pleasant to receive. It’s nice                      Send rejection letters as soon as possible in
to see FOOTASYLUM show appreciation for the
                                                                      the process.
time taken to fill in an application and to
motivate candidates to keep going".
                                                                      Don’t
EDIT: I know it’s still an automated email, I’m not
saying it’s not but it’s a lot more compassionate                     Tell candidates you will keep their details on
and genuine and they took time to draft the                           file unless it is true.
response and actually reply.
                                                                      Use negative language such as
(Also, if Footasylum happen to see this post. I                       “unfortunately” or “sorry.”
love your YouTube content)”.
                                                                      Say the successful candidate had better
Another candidate described it as the
                                                                      qualifications.
#bestrejectionever and a third commented that
it had given him a big push to keep going with
his job search. “Never before did an email of this
type make me feel so good,” he added.

At a time when technology is taking over many         "Keep going. It is tough and I understand it can
of the traditional tasks of recruiters, Nottage’s
approach is a powerful reminder of not just the        make you feel low to receive an email like this,
importance of candidate experience but also the          but believe me we will all get through these
big difference a genuine response can make. A
touch of humanity doesn’t hurt your company                                        challenging times."
image, either.

                                                                                    TALiNT International Nov / Dec 2020
22

     Advertorial - HIVE360

     Leading the agency
     payroll revolution
     HIVE360 is championing a new model of employment administration in the UK market, and redefining
     employment and pension administration processing.

     Today’s world of work is placing unprecedented                             mobile app is the quickest and most convenient
     demands on agency payroll, with off-payroll                                way for people to access help and support from
     rules, the growing burden of HMRC compliance,                              trained mental health counsellors 24/7,
     and new IR35 rules in force from next April. We                            whenever and wherever they need them.
     asked HIVE360 CEO David McCormack to explain                               HIVE360's Engage App for workers includes all
     the benefits of outsourcing payroll, and the                               these features and has been a lifeline for many
     tangible advantages of achieving better                                    throughout the pandemic; we recorded a 273
                                                          David McCormack,
     engagement of temps and employees.                   CEO, Hive360          percent increase in demand for mental health
                                                                                support services in the first week of Lockdown 1.
     Q: Why should recruiters outsource payroll?
     Outsourcing payroll ensures prompt, reliable and                           Q: As recruiters adapt to a more remote
     accurate payment to the workforce, and enables                             workforce, what benefits should employee
     significant savings on employment and pension                              engagement solutions offer and why?
     administration processing. It's a strategic                                Research shows engaged workers boost
     decision that delivers added efficiency, cost                              productivity by 18 percent and profitability by 12
     savings, staff retention and productivity.                                 percent, but also increase performance,
                                                                                accelerate business growth, have a positive
     With an enhanced solution like HIVE360, it can                             impact on absenteeism and become very strong
     also help boost candidate attraction and                                   brand ambassadors for their employer.
     retention with inclusive benefits and wellbeing
     support. HIVE360 offers a 360-degree, fully                                Tech that is easy to use is vital to optimise
     compliant and reliable PAYE payroll support                                employee engagement. It must provide the
     solution that reduces overheads and improves                               information workers want on the platforms and
     operational efficiencies. It's a future-proof                              mobile devices they use every day, with an app
     alternative to the traditional umbrella company                            with plenty of functionality that enables high
     solution for PAYE payroll management, with cost-                           levels of communication, real time recognition,
     savings for recruitment businesses at one end                              and access to complementary solutions such as
     and a better experience for workers at the other.                          digital pay slips, pension information, wellbeing
                                                                                support, lifestyle benefits and discounts.
     Q: What key areas of candidate support should
     recruiters look for in their talent tech?                                  Q: How can HIVE360 support recruiters in
     The best payroll tech providers will of course                             reducing costs and increasing profitability?
     have HMRC and GLAA compliance. They will also                              Recruitment businesses working with us report
     ‘fit’ with the business, offer flexibility to grow                         savings of £100 or more per worker in the first
     and adapt to a changing workforce and working                              12-months. HIVE360 is also leading the way in
     patterns, with creativity - as a business and with                         innovating employer engagement for the
     customisable, tailored tech – along with                                   recruitment sector with an added-value suite of
     scalability, security, accessibility, accuracy,                            tailored employee benefits, and a constantly
     efficiency, and cost savings.                                              evolving choice of tools to aid improved
                                                            To find out more    communication and recognition of workers.
                                                          about Engage, book
     Tech should boost worker and candidate                a demo at https://
     retention and engagement, especially with            www.hive360.com/      This enhanced approach to supporting
     health and wellbeing support, which our                  services-hub/     temporary workers is having significant impacts
     research confirms is top of workers’ wish lists.      engagement-app-      on our clients’ ability to grow through securing
     For example; offering vital, confidential mental             demo/         new contracts and reducing costs by increasing
     health counselling and resources via a secure                              the retention of their candidates.

TALiNT International Nov / Dec 2020
Outplacement for
   a changing world
   Don’t just tick a box with your Outplacement
   service. Offer something that gives your
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   Omni’s unique service provides an online career hub with training
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   in these uncertain times.

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24

      PointSix - Tech Transformation

      Build or buy, and why?
      For recruiters looking to offer training services, consultancy and Saas solutions, is it best to develop
      inhouse capability, partner with third party suppliers, or acquire solution providers?

      There’s a big question mark over whether                                    more money into technology. “PE do like
      recruitment companies should build, buy or                                  businesses which are fit for the future and
      partner when investing in AI, automation, and                               scalable, and, of course, automation can very
      HR tech.                                                                    much help with that,” Ellis says.

      The Covid pandemic and the upsurge in remote                                Osborne Clarke senior partner Andrew Saul, a
      working has made this question more critical, as                            tech M&A specialist, says the legal firm is
      even the most traditional firms realise they must    Dawn Gibson,           currently involved in numerous digital
      be technologically competitive to stay relevant in   Features Editor        transformation projects for recruitment
      an agile market.                                                            companies. “It's a sector that particular lends
                                                                                  itself to digital transformation and automation
      The first session in TALiNT Partners’ M&A in a                              with its history of lots of manual and paper-
      Week Series, held in partnership with Osborne                               based procedures,” he says.
      Clarke and Optima Corporate Finance, explored
      valuation risks and rewards as well as the                                  BUY
      commercial drivers behind these options.                                    Saul says buying a tech company is the best
                                                                                  option because it enables the acquisition of
      Hosted by TALiNT managing director Ken                                      development technology and probably a
      Brotherston and TALiNT programme director                                   development team to streamline and scale
      Alex Evans, the webinar included insights from                              business. “This is what I call the Rolls Royce
      Philip Ellis, founder of Optima Corporate                                   solution, because it's the most expensive but
      Finance, and Osborne Clarke senior partner                                  likely to be the best option if you get it right,”
      Andrew Saul.                                                                Saul says. “The valuation of the software
                                                                                  business lies in three things – how well the
      Ignata CEO Luke Williams and The Hive COO                                   software performs, the intellectual property
      Maria Vavoulas also discussed the thinking                                  rights, and its people.
      behind decision-making at their companies.
                                                                                  “But buying a company involves more than just
      INVESTOR ATTRACTION                                                         doing due diligence on the technology and the
      HR tech is attracting intense investor interest:                            people; you're taking on the company with its
      TALiNT’s Ken Brotherston pointed out that,                                  full history, so it involves looking at tax, real
      globally, more than $1 billion changed hands in                             estate, customer relationships.”
      HR and talent tech deals in the second quarter
      of 2020, well above the average for the past 14
      quarters.
                                                                         “That was a huge lesson learned: don't
      Optima Corporate Finance founder Philip Ellis,
      who specialises in recruitment businesses, says                         customise unless you are actually
      the pandemic has prompted a re-evaluation of                                          building it yourself.”
      private equity investment, as companies seek to
      reduce their exposure to offices and plough                                                Maria Vavoulas, COO, The Hive

TALiNT International Nov / Dec 2020
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