>>By the Numbers: February 1, 2019

By the Numbers: February 1, 2019

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Talent Acquisition Resources Imperative to Business Success

The Numbers:

  • 83% of HR leaders have a goal to ‘have a measurable impact on their business’ performance – up from 57% in 2016
  • 80% of talent leaders state their recruiting strategy focuses less on cost savings and more on value creation
  • Source: Randstad Sourceright 2019 Talent Trends

Onboarding More Painful Than a Bad Date?

The Numbers:

  • 80% of employees cite onboarding as an ‘important moment at work’, though 1 in 3 would rather go on an awkward first date
  • 80% of workers say they have experienced some issues at the start of a new job
    • One-third did not receive necessary training
    • 28% were not clear on their responsibilities and goals
    • About 25% did not receive clear onboarding
  • Source: ServiceNow

Displaced U.S. Workers Could Cost 1.4M to Train

The Numbers:

  • About 1.4 million U.S. workers could be displaced from their job due to technological change and global trends
  • Only 25% of the reskilling necessary to keep workers on the job is expected to be provided by private-sector employers
  • $34 billion is the estimated cost to retrain workers in total or $24,800 per worker on average
  • Source: World Economic Forum

Women in CEO Roles Increased Slightly

The Numbers:

  • An increase of 22% was seen in CEO spots filled with a woman
  • 18% was the percentage in the previous two years
  • The government/nonprofit sector had the highest amount of female CEOs at 100
  • Source: Challenger, Gray & Christmas

Healthcare Jobs Most In-Demand for 2019

The Numbers:

  • A 47% increase in home health jobs is seen by 2024
  • 2 million new hires are expected in Healthcare in the next 6 years, outpacing the availability of talent
  • Source: CareerCast

Tightened Labor Market Does Not Bring Wage Growth

The Numbers:

  • No abrupt jump in U.S. wage growth is expected due to the tight labor market
  • State data was analyzed as U.S. states experience unemployment lower than 4% regularly – so can be used to determine whether wage growth will rise at the national level
  • Source: Federal Reserve Bank of San Francisco

Competitive Offer Package Must Include Benefits & Perks

The Numbers:

  • Salaries across the U.S. increased by 3% in key industries, but still not keeping up with inflation
  • 839K people voluntarily quit their jobs in December 2018 (up from 113,000 in December 2017)
  • Source: Randstad USA’s 2019 Salary Guide

CEOs’ Concerns on Skills Gaps Takes Toll on Talent Pros

The Numbers:

  • 55% of CEOs feel their companies cannot innovate effectively due to the skills gap
  • More than 50% cite the skills gap as the reason for higher staffing costs
  • Source: PwC’s 22nd Annual Global CEO Survey

Government Shutdown has Workers Job Hunting

The Numbers:

  • A 10% increase in job hunting on Glassdoor came from those workers impacted by the government shutdown
  • This increase could equal 400 people leaving the U.S. government a month
  • Source: Glassdoor

Jobless Claims Increase to Highest Level since September 2017

The Numbers:

  • Claims for unemployment insurance jumped by 53,000 from the previous week’s revised level to total 253,000
  • This is the highest level of claims since September 30, 2017
  • Source: U.S. Department of Labor

No Expected Recession in 2019

The Numbers:

  • No recession is forecast for the next 12 months
  • Economic growth may not be as strong as more firms are reporting shortages of skilled labor
  • Source: National Association for Business Economics

Marketing/Creative Staffing Forecasts High Growth

The Numbers:

  • 7% is expected growth in the Marketing/Creative space in the U.S. – equaling about $1.6 billion this year
  • “Looking ahead, the projected growth in marketing budgets for the next 10 years and the high demand for digital marketing and social media marketing skills suggest increasing opportunities for marketing/creative staffing,” said Sreedevi Thiyagarajan, senior research analyst at SIA. “The infusion of high bill rates for data analyst and creative roles reiterates a high demand for those roles.”
  • Source: Staffing Industry Analysts

Solid Start to 2019 But Jobs Data ‘Disappointing’

The Numbers:

  • U.S. private sector growth increased at solid pace in January
  • Rate of staff hiring was weakest since May 2017
  • “US businesses reported a solid start to 2019, with the rate of expansion running only slightly weaker than the average seen in the second half of last year,” said Chris Williamson, chief business economist at IHS Markit. “The resilience of the survey data suggest little impact from the government shutdown on the private sector, with very few companies reporting any material detrimental impact on their output or order books.
  • Source: IHS Markit Flash US Purchasing Managers Index

AI to Impact 30 Million U.S. Jobs

The Numbers:

  • 25% of U.S. jobs will be severely impacted by AI automating existing work
  • About 36 million Americans hold jobs with ‘high exposure’ to automation
    • At least 70% of their tasks could be performed by machines using current technology
  • Source: Brookings Institution

U.S. Economic Growth Could Slow to 2%

The Numbers:

  • S. Economic Growth could slow this year, per data suggesting so, even without the results of the government shutdown
  • “The US [Leading Economic Index] declined slightly in December and the recent moderation in the LEI suggests that the US economic growth rate may slow down this year,” said Ataman Ozyildirim, director of economic research at The Conference Board. “While the effects of the government shutdown are not yet reflected here, the LEI suggests that the economy could decelerate towards 2% growth by the end of 2019.”
  • Source: The Conference Board’s U.S. Leading Economic Index

Cybersecurity Worker Shortage Increases

The Numbers:

  • Close to 3 million workers internationally are needed for the cybersecurity profession
  • AI and machine learning are being used to help bridge the gap but will not address the larger problem
  • Source: (ISC)2

The Robot Revolution to Impact American in Varying Ways

The Numbers:

  • The biggest job displacement is thought to be in Rust Belt centers like Toledo, OH rather than in urban areas
  • Younger workers, African American employees, Hispanic employees, and men are expected to feel more of the burden
  • Source: The Brookings Institution

Walmart Increases Offers to Combat Truck Driver Shortage

The Numbers:

  • Walmart will increase average truck driver pay from $86,000 to $87,500 (compared to an industry median of $53,000)
  • The offer will also include predictable schedules, a minimum of 21 days off, and quarterly bonuses
  • The American Trucking Association estimates the U.S. will be short 175,000 truck drivers by 2026
By |2019-01-31T22:25:21+00:00February 1st, 2019|Categories: Uncategorized|Comments Off on By the Numbers: February 1, 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.