By the Numbers: December 1, 2017
Each week, we’ll brief you on notable stats and happenings related to current events impacting the job market now or in the foreseeable future.
Ban on Compensation History Inquiries
The ban on compensation history inquiries has caused quite the buzz within talent acquisition. This new legislation effectively makes it illegal for employers to ask applicants for their compensation history when considering them for a role. The thought is that by removing this question as an option within the interview process, employers will more than likely review the candidate’s experience, education, and cultural fit rather than their previous compensation when both considering them for the role as well as the compensation range to offer. By doing so, the spirit of the law is that this will pave the way for increasing pay equality – based on merit and experience – rather than looking at an applicant’s gender, race, or other characteristics.
Download our report, ‘Ban on Compensation History Inquiries’ to find out:
- How Employers are Interpreting the Law
- Steps for Employers to Take When Applying the Legislation
- Ramifications if Employers Do Not Comply
- Options Available to Candidates
Ensure your organization is prepared if/when this legislation affects your hiring process.
Employers to Hire More in 2018
Per Indeed’s Employer Outlook for 2018, 61% of respondents expect to hire more people in 2018 than they did in 2017 and only 10% of surveyed companies plan to reduce their rate of hiring; the remainder plan to maintain current levels.
The 50 Best Workplaces for Parents
Fortune partner Great Place to Work performed their annual ranking of the best U.S. places to work for parents. They surveyed more than 400K employees and analyzed hundreds of benefit plans to create this list of workplaces that treat their working parents the best. Some examples are flexible schedules, generous leave policies, on-site daycare, etc…
Here are the Top 5:
- Ultimate Software
- Comcast NBCUniversal
Top 10 Emerging Careers for College Grads in the U.S.
The University of California San Diego Extension Center for Research on the Regional Economy released its annual list of the top 10 emerging careers for college grads in the US.
(The list aimed to identify the top 10 occupations by combining the highest projected growth rates and the most online job postings using information from labor-market data firm Emsi. Researchers focused on jobs that required a bachelor’s degree with less than five years of work experience.)
The top 5 are:
- Interpreters and translators
- Operations research analysts
- Personal financial advisors
- Computer systems analysts
- Software developers, applications
Beige Books Sees Employment Growth and Tight Labor Markets
“Employment growth increased in October and mid-November, according to the Federal Reserve’s Beige Book report released Wednesday. Wage increases were most notable for professional, technical and production positions that remain difficult to fill. Many districts reported employers were raising wages as well as increasing the use of signing bonuses and other nonwage benefits to retain or attract employees.”
Lowest and Highest Unemployment Rates
Per the U.S. Bureau of Labor Statistics, the lowest unemployment rates among all large U.S. metropolitan areas for October were the Minneapolis-St. Paul-Bloomington area in Minnesota and the Nashville-Davidson-Murfreesboro-Franklin area in Tennessee at 2.3% each. The highest unemployment rate was the Cleveland-Elyria area in Ohio at 5.2%. The Las Vegas-Henderson-Paradise area in Nevada was a close second at 5.1%.
Moving Average of Unemployment Claims Up
“The U.S. four-week moving average of initial claims for unemployment insurance rose to 242,250 last week, up 2,250 from the previous week’s revised average, according to seasonally adjusted numbers released today by the US Department of Labor.”
Highest-Paid Marketing Tech Job Areas
Mondo, a New York-based IT and digital marketing staffing provider ranked the hottest marketing technology job areas.
Here’s the full list:
- Data and Analytics: Salaries of $85,000 to $210,000; $95 an hour for contractors. In-demand technologies include: Google Analytics, Informatica, Marketo, Omniture, Qlikview, Salesforce, SAS, Silverpop, SSIS and Tableau.
- Ecommerce: Salaries $90,000 to $200,000; $120 an hour for contractors. In-demand technologies include: ATG, Demandware, Eloqua, HubSpot, Magento, Pardot, Salesforce Marketing Cloud, Shopify and WooCommerce.
- SEO, Content and UX: Salaries $75,000 to $175,000; $100 an hour for contractors. In-demand technologies include: Adobe Creative Cloud, AngularJS, Drupal, Google Analytics, HubSpot, Marketo, Optimizely, SharePoint, Sitecore and WordPress.
- Paid Search and Ad Tech: Salaries $75,000 to $125,000; $90 an hour for contractors. In-demand technologies include: DoubleClick, Google AdWords, Google Analytics, Online AdRelevance, PPC and SEM.
- Email Marketing: Salaries $65,000 to $120,000; $80 an hour for contractors. In-demand technologies include: Eloqua, ExactTarget, HubSpot, Marketo, Pardot and Silverpop.
- Social Media and Customer Relationships: Salaries $55,000 to $100,000; $70 an hour for contractors. In-demand technologies include: Facebook Ads, Hootsuite, Microsoft CRM, Salesforce and Sprinklr.
Changes to Wage and Hour Issues Coming
During the American Bar Association’s Labor and Employment Law Conference, attendees were told that updates in the areas of misclassification, overtime, and joint employment were to be expected.
Online Ratings of Employers = Truth
Engage’s annual Employee Engagement Survey reported that online ratings of a company’s culture tend to be accurate. Per the report:
- 76% of job seekers research employers before applying for an opening
- 84% of passive job seekers would think about leaving their current employer if another with an outstanding rating made a job offer
Why Most Don’t Share Job Openings via Social Media
Regarding sharing job openings, per a new study from Indeed of 10K international job seekers:
- Two-thirds (65 percent) of respondents worry others will find out they are looking for a new job.
- A quarter of job seekers (24 percent) worldwide ranked their quest for a job as the topic they are least likely to share online. (Only personal finances ranked as an equally off-limits topic.
UK Tech Labor Market is Hot
“The technology sector is growing twice as fast as the wider UK economy, and digital jobs are being created twice as fast as non-digital ones. As a result, Prime Minister Theresa May recently announced the ongoing support for technology innovation across the UK by doubling the number of available visas and making various investments in the tech sector totaling £81 million.”