Insights

An investment in early career talent is a long-term investment in the success of any company — but in times of economic turmoil, that message can be hard to communicate to leadership. While stories of widespread layoffs at companies big and small have saturated the news lately, how does that narrative translate to the youngest members of the workforce?

Unconscious bias during the hiring process is a real threat to building a more diverse and inclusive workforce. That’s because unchecked biases in both human and technology-assisted decision-making can disproportionately hurt underrepresented groups. In an effort to help employers combat bias in hiring, we are committed to ensuring our products limit both human and algorithmic bias to the greatest extent possible.

Having good data to power decision-making is more important now than ever — especially in the field of talent acquisition. That’s because even though top companies might be continuing to hire entry-level candidates and interns in 2023, the uncertain macroeconomy is causing early career recruitment teams to shift their priorities and refocus on high-impact efforts. And it takes data to understand what exactly those efforts should be. The benefit of collecting the right data to showcase the ROI of your team’s recruitment efforts is twofold; it will help you make the case to leadership for why early career is a good investment, and, with the pressure on leaner teams to do more with less, it will help you focus on the strategies that are actually working. But where do you begin?

Internship programs are a highly cost-effective method for recruiting full-time talent — which is especially crucial during an economic downturn like the one we are currently experiencing. In fact, recent employment data shows that internship programs serve as strong pipeline of talent for entry-level roles, with 75.5% of interns from 2020-21 returning to work at their company full-time. Plus, interns are more likely than non-interns to stick around, saving you in recruiting and onboarding costs. The data shows that the 1-year retention rate for interns turned full-timers is nearly 70%, compared to 36% of non-interns, and the 5-year retention rate for interns turned full-timers is nearly 41.5%, compared to 26% of non-interns. But how do you take a step back and source your new cohort of interns in a cost-effective way, as well? Try incorporating some of these strategies below into your next recruitment cycle.

‘Tis the season — to recognize hard-working talent acquisition professionals and early career recruiters! That’s why RippleMatch has deemed this time of year ‘Talent Appreciation Season’, and is excited to celebrate those in the field that play an integral role in their organizations, and make a huge difference in students’ lives.

Following the COVID-19 pandemic, talent teams experienced a hot market with candidates in the drivers’ seat — one so competitive that it had been referred to as ‘the war on talent’. But an economic cooldown at the tail end of 2022 has shifted companies’ focus from fighting for top talent to planning for worst-case scenarios by tightening budgets and instituting hiring freezes and layoffs.

Currently, there is a grand total of five generations in the workforce — with Millennials making up the majority of the current workforce, and members of Gen X holding 51% of leadership roles. By 2025, Gen Z will comprise nearly 30% of the workforce. In order to have a harmonious work environment, it is essential that talent leaders make a conscious effort to create a workplace that is inclusive of workers of all ages.

Generation Z has been vocal about the need for organizations to do better regarding diversity and inclusion. As the most diverse generation in U.S. history, they're often the ones who are on the front lines of the fight for social justice, and it is evident that the workplace is no exception.

Most companies are aware that building a strong employer brand is critical for educating potential employees on what their organization does and values, and for existing employees who are helping to shape the community they have built and are looking to grow. But as we’ve shifted from a hot market to one marked by economic uncertainty and tightening budgets, organizations today are questioning whether it's the right time to amplify their branding efforts, or pull back on related expenses.