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%
