HR Tech Bytes: SkillGigs, HireRight

HR tech news
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SkillGigs, Inc., an ecommerce talent marketplace that pairs skilled healthcare and technology job seekers with AI-matched work opportunities, today announced the launch of a new employer of record program. This new capability will make it easier for U.S. employers to hire remote international workers amid surging demand for IT professionals and the rising cost of domestic talent. SkillGigs will be the employer of record for a global pool of top tech workers, allowing employers to save money, scale quickly, and access more specific skillsets for their projects.

SkillGigs’ employer of record program mitigates many of the risks associated with offshore hiring for U.S. companies. Employers who hire international tech workers through SkillGigs can save up to 40% in talent acquisition costs while having access to total talent management services that track and document project milestones.

The SkillGigs employer of record program for technology workers is a service the platform offers in addition to their international travel nurse program for healthcare companies.

HireRight Holdings Corporation (NYSE: HRT) a provider of background screening services, announced its Board of Directors has authorized an additional $25 million share repurchase program.

Under the repurchase program, the Company may purchase shares of its common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions, or other means, including through Rule 10b5-1 trading plans. The timing and actual number of shares repurchased will depend on a variety of factors, including stock price, trading volume, market conditions and other general business considerations. The repurchase program may be modified, suspended, or terminated at any time.

Repurchases under this program may be funded from the Company’s existing cash and cash equivalents and future cash flows. As of June 20, 2023, the Company had approximately $82.2 million cash and cash equivalents.

This program follows a $100 million share repurchase program announced on November 14, 2022 and completed on June 22, 2023, pursuant to which the Company repurchased a total of 9.3 million shares at an estimated average price of $10.80.

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