>>By the Numbers: August 23, 2019

By the Numbers: August 23, 2019

Job Hunters Tuned in to Current Worker Opinions

The Numbers:

  • 69% of job seekers will reject a job offer based on opinions of current workers at that company
  • 25% left a previous job due to feeling as though they were underpaid
  • More than 50% stated that opportunities for growth were more important than their pay
  • Source: Pollfish

Most Organizations Utilize Performance-Based Raises

The Numbers:

  • 90% of organizations base their raises on the employee’s performance
  • On average, 2019 merit increase budgets and 2020 increase projections were consistent with the past five years at 2.9% and 3% respectively.
  • Source: Mercer

Many Workers Leave Jobs for One with Flexibility

The Numbers:

  • 30% of workers say they have left a job that lacked work flexibility
  • Flexible work options ranked higher than healthcare, retirement benefits, vacation time, and paid parental leave when considering a new job
  • 75% value flexibility for work-life balance, 45% for family, 42% for time savings and 41% to cut down on commute stress.
  • Source: FlexJobs

BountyJobs Reports: The New Dynamics of Recruiting 2019 Survey

  • Each year we carefully craft a survey for professionals in talent acquisition to express what they’re experiencing in the current talent market – challenges, solutions, forecasts. We take these valuable responses and publish a report later in the year with the results – actionable insights that help all in talent acquisition.

U.S. Jobs Estimate Lowered

The Numbers:

  • The U.S. Bureau of Labor statistics plans to lower its estimate of total nonfarm jobs in the U.S. for March 2019 by 501,000
  • “Each year, the Current Employment Statistics survey employment estimates are benchmarked to comprehensive counts of employment for the month of March,” according to the BLS. The counts are based on state unemployment insurance tax records.
  • Source: U.S. Bureau of Labor Statistics

IT Jobs on the Rise But Concerns Still Rampant

The Numbers:

  • For the fourth month in a row, the number of IT jobs in the U.S. has risen in July
  • However, the growth is still running at a snail’s pace, causing concern
  • IT employment was up just .03% in July from June
  • Source: TechServe Alliance

Salaries Up, Hiring Requirements Down

The Numbers:

  • To attract talent in this tight employment market, many employers are deciding to offer higher pay and ease up on requirements
  • Some employers are forgoing drug testing and background checks while others are decreasing education and work experience requirements
  • Almost 40% of employers have relaxed their hiring requirements to recruit new workers
  • Source: Adecco USA

Respect as Important as Pay in Offers

The Numbers:

  • For high-demand roles, salary isn’t the main focus
  • High-value workers with many job options also heavily weigh respect and being appreciated when considering moving to another company
  • Source: MIT Sloan

Jobs Growth Slower Than Anticipated

The Numbers:

  • Jobs growth in the U.S. looks to be much weaker than originally thought in 2018 and early 2019
  • Official payroll figures between March 2018 and March 2019 are expected to be revised down by 501,000 jobs
  • This adjustment is not yet final but is the biggest since 2009 and suggest that the impact of tax cuts was smaller than initially reported
  • Source: Bureau of Labor Statistics

Some Workers Transitioning Mid-Career

The Numbers:

  • ‘Minternships’, when mid-career employees leave their jobs to take internships and many in other industries are growing in popularity as an option to reskill.
  • Many Millennials are dissatisfied with their job and looking for a change
  • Source: BBC Worklife

Finance Exes Biggest Challenge is Finding Tech Skills

The Numbers:

  • Technology experience is one of the most challenging attributes to find in candidates within accounting and finance
  • Top 5 hardest attributes to find per CFOs:
    • Technology experience or aptitude: 32%
    • Functional job skills: 21%
    • Leadership abilities: 18%
    • Soft skills, e.g., interpersonal or communication skills: 16%
    • Organizational culture fit: 12%
By |2019-08-23T02:20:44+00:00August 23rd, 2019|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: August 23, 2019

About the Author:

Erin Geiger is a seasoned Content, Editorial, and Product Engagement professional with two decades of experience creating content as well as overall content direction and strategy. Her background stems from a variety of online verticals ranging from start-ups to Fortune 500 corporations.