BountyJobs Bites Upskilling Critical to Manage Digital Evolution The Numbers: Talent should be prepared for the digital disruption via reskilling and upskilling to ‘complement technological innovation’ 45% of employers felt ‘the digital transformation was advancing too quickly’ compared to 60% in 2019 This change signifies that employers may be more ready to address the change 91% of those in HR believe ‘it's their organization's responsibility to reskill workers to overcome the talent shortage’ 22% are training or reskilling their current workforce to address the problem Source: Randstad Global Talent Shortage Almost Doubled The Numbers: The past decade saw the global talent shortage nearly double 54% of international businesses reported skill shortages Companies in 36 of 44 countries reported more difficulty attracting talent now than in 2018 Source: ManPower Group BountyJobs Reports - Year in Review: Talent Acquisition in 2019 and the 2020 Impact The Numbers: A whopping 43% of professionals plan to look for a [...]

BountyJobs Bites November Job Openings = Big Decline The Numbers: Job openings in the U.S. fell by 561K in November This was the biggest drop since August 2015 Source: U.S. Bureau of Labor Statistics U.S. Economy Expands Yet Labor Markets Tight The Numbers: In the last six weeks of 2019, the U.S. economy expanded slightly However, labor markets remained tight enough to restrict growth in some areas Source: Federal Reserve Beige Book Tech Sector Hiring Hits Lowest Point of 2019 The Numbers: Tech sector hiring fell to the lowest point in December for all of 2019 In December, only 3,500 tech jobs were added to the labor market Source: CompTIA BountyJobs Reports - Year in Review: Talent Acquisition in 2019 and the 2020 Impact The Numbers: A whopping 43% of professionals plan to look for a new job over the next 12 months The majority of employers, 61%, planned to raise wages in 2019, which [...]

BountyJobs Bites Retailers Had Highest Number of Job Cuts in 2019 The Numbers: Retail had the highest number of job cuts at 77,475 in 2019 (21% lower than 2018), 48,753 of them were due to bankruptcies The lowest number of monthly job cuts since July 2018 was December 2019, however, 592,556 jobs were cut in 2019, 10% more than in 2018 Source: Challenger, Gray & Christmas Lowes Planning to Hire 53K Workers for Spring The Numbers: 53K workers are to be hired for full-time, part-time and seasonal jobs for Lowe’s this Spring Walk-in hiring events will be leveraged for the next three months, in which some conversations may result in on-the-spot job offers Source: Lowe’s Companies Small Business Wages ‘Surging’ The Numbers: Q3 and Q4 saw hourly wages at small businesses ‘surging’ In parallel, job increases plateaued during this timeframe as labor markets tightened Source: Paychex BountyJobs Reports - Year in Review: Talent Acquisition in [...]

BountyJobs Bites New State Minimum Wages Launch with the New Year The Numbers: 21 states will implement new minimum wages, with 4 more and D.C. coming later in the year $15.00 will be the highest minimum wage in 2020, and will be in Washington, D.C. starting July 1, 2020 Source: Paycor Most U.S. Workers Experiencing Flat Salaries The Numbers: 50% of U.S. workers haven’t seen an increase in salary, whether from a raise or job change in the past year 38% of those that have had a raise said it was based on performance 31% of those that were given a raise were promoted or received additional responsibilities Source: Bankrate Recession and Talent Shortage Top Business Concerns The Numbers: The biggest external concern of CEOs remained the risk of a recession Attracting and retaining talent was the top internal concern Source: The Conference Board BountyJobs Reports - Year in Review: Talent Acquisition in 2019 and [...]

Happy New Year! 2019 in talent acquisition was one for the record books! The trends we saw in 2018 continued this year but seemed to accelerate at a faster clip. The talent gap continued to widen, impacting every industry regardless of focus. The unemployment rate hovered around an average of 3.5% for much of the year after hitting a 'high' of 4% in January. Recruiters became well-versed in not only each industry...but also each workforce age group in order to stay relevant, and ahead of the competition. (Hint: in this employment landscape, everyone is your competition) Between Gen Z, Millennials, Gen X, Baby Boomers - each group has their own motivators that can make or break an offer. As our goal at BountyJobs is to give you the tools to make your next critical hire, we've covered all of these key topics and more this year. We'll continue to do so in 2020 and beyond, [...]

BountyJobs Bites Recruiters Reaching Out via Social Media? Gen Z Gives It a Thumbs Down The Numbers: While a social media presence is important for their professional brand, members of Gen Z would rather not hear from recruiters via that channel 87% would prefer to hear from recruiters through email and 63% preferred professional social platforms like LinkedIn Source: Tallo Most Ad and Marketing Execs to Increase Use of Freelancers The Numbers: 67% of hiring decision-makers in advertising and marketing are planning to increase headcount by end of Q2 2020 69% will be increasing their use of freelancers – a seven-point jump from six months ago 86% of ad and marketing managers said ‘it’s somewhat or very challenging to locate the creative talent they seek Source: The Creative Group, Robert Half International Creative Jobs #1 in Remote Work Growth The Numbers: Of the top 7 remote work opportunities in the U.S., creative jobs were number [...]

BountyJobs Bites Younger Workforce Assume Quick Raises The Numbers: About 50% of workers 54 and under expect a raise or a promotion each year Only 12% of baby boomers have these expectations 17% of workers under 34 years old stated they think their company’s employees have a fair shot at advancement Source: Clutch Optimism from Small Business Owners for 2020 The Numbers: Small business owners expect revenue to increase within the next year 24% ‘expect to face challenges related to controlling costs' 18% expect to face challenges related to finding qualified employees Source: CNBC and SurveyMonkey Talent Shortages and Tech Adoption Top Concerns for Execs The Numbers: More companies are adopting tech solutions but 50% of those are struggling with ‘rapid tech development’ 46% of employers say their workforce will increase in size 59% stated they expect to face a labor shortage within the next two years Source: Ceridian BountyJobs Reports - Year in Review: [...]

BountyJobs Bites Raises and Promotions Expected in 2020 The Numbers: In Q3 of 2019, worker confidence was at a record high The anticipation of expected promotions saw the largest increase quarter-over-quarter rising from 110.1 in Q2 to 133.9 in Q3 2019. Source: HRO Today Magazine and You Hiring for Seasonal Roles is Most Stressful The Numbers: Long, manual onboarding processes cause stress for those hiring holiday seasonal workers Almost 80% of HR respondents say that the time it takes to onboard new staff is challenging 72% stated that handling onboarding paperwork is a struggle Source: Adobe Most Job Seekers Run From a Bad Candidate Experience The Numbers: 49% of job seekers have said they have rejected a job offer due to a negative candidate experience A higher percentage said they would discourage family or friends from applying for a job due to a bad experience with the company’s recruiters Source: PwC BountyJobs Reports: When Recruiter [...]

Top 10 Reasons Why Recruiting Through the Holidays WINS Think the holiday season is when you should put on the hiring breaks? Think again! Planned strategically, this time of year can take your talent acquisition goals leaps and bounds past your original plan of attack. Stick with us kid, and you'll go places...even when hiring for talent during the so-called 'holiday slump'. Getting Social Prospects are tied to their phones even more as they are out and about shopping or attending holiday events. The chance that they will see your social media outreach or phone call…and reply, increases. Slow Schedules Within many organizations, projects are put on hold or slowdown during the holidays. Due to this, your ideal candidates may have more time to take a look at your opportunity. Reflection Time At the end of the year many people take time to reflect on year’s past and what’s to come for the new year. [...]

BountyJobs Bites U.S. Economic Growth Forecasts Grow Weaker The Numbers: Over the next year, the outlook for U.S. economic growth looks weaker now than it did three months ago Real GDP is now expected to grow 1.7% this quarter, down from 2% originally forecasted The number of jobs added was slightly revised upward for job gains over the next two years Source: Federal Reserve Bank of Philadelphia Imbalance on Pay Between New and Existing Workers Has Impacts The Numbers: As a way to recruit new hires, many companies focused on increasing wages, which inadvertently increased the wages for younger workers as that age group is akin to new hires This has led to historic pay compression due to the imbalance between spending on new hires vs. existing workers The difference between wages of those in the 20-24 year old range and those in the 25-34 year old range narrowed to its smallest gap in 36 [...]