>>By the Numbers: January 19, 2018

By the Numbers: January 19, 2018

Compensation History Inquiry Ban

With the start of 2018 comes the start (or continuation) of adopting new legislation. The compensation history inquiry ban has caused quite the buzz within talent acquisition, effectively making it illegal for employers to ask applicants for their compensation history when considering them for a role. 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.

The ban has been applied in multiple locations across the United States with additional locations forthcoming. New Jersey is the latest state implementing this legislation: January 16 was Governor Phil Murphy’s first day in office – his first order of business was to adopt the salary history inquiry ban.  As of February 1, New Jersey agencies and offices will no longer be allowed to ask job candidates for their compensation history.

Is your organization prepared?

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

Check out our report for even more background information as well as how these laws are affecting both employers and candidates.

On a similar topic, Citigroup announced it will increase pay for women and minorities. The company reports that women and minorities already earn 99% of every dollar that men and non-minorities earn, but will bring that up to 100%.

BountyJobs Bites

Amazon Whittles Potential Headquarters List to Top 20

“Getting from 238 to 20 was very tough — all the proposals showed tremendous enthusiasm and creativity,” said Holly Sullivan, Amazon’s head of economic development. “Through this process we learned about many new communities across North America that we will consider as locations for future infrastructure investment and job creation.”

Check out the full list of 20 here.

2018 Off to an Optimistic Start in Staffing

Per a report from Bullhorn, 65% of recruiting firms are expecting a revenue increase in 2018 over 2017, regardless of challenges concerning ‘automation, politics, etc’.

Onboarding Processes Gathering Dust

Kronos and the Human Capital Insitute released a report stating that 76% of HR leaders say ‘onboarding processes are underutilized at their organization’. Of those processes, many lean on paperwork rather than training.

Least and Most Stressful Jobs Ranked for 2018

The four most stressful jobs of 2018? Enlisted Military Personnel, Firefighters, Airline Pilots and Police Officers, due to the increased risk of physical hazards each day. For the full list, go here.

Best Tech Workplaces Foster Diversity

Fortune’s ‘Best Workplaces in Technology’ list highlights results from a ‘Great Place to Work’ poll – the responses of those polled state that tolerant cultures regardless of age, race, gender, sexual orientation, disability or position are valued. Some at the top of the list are Ultimate Software, Workday, and Salesforce.

Google to Offer Free Scholarships

As the IT talent gap continues, Google has plans to offer 10,000 scholarships to those in the U.S..  While Google may hire from this group, graduates may accept employment elsewhere.

C-Suite Top Concern Continues to be Talent

The Conference Board’s ‘C-Suite Challenge 2018’ finds that attracting and retaining talent is still the top concern for top-level execs.

“To cope with worker and skill shortages down the road, this year’s survey results tell us that organizations are fundamentally rethinking the composition of their future workforces,” said Rebecca Ray, report co-author and executive VP, Knowledge Organization at The Conference Board. “Nearly 80 percent of CHRO respondents foresee greater use of contingent non-traditional employees. Moreover, three-quarters of them anticipate a rise in digital labor solutions such as robotic process automation.”

Wage Increases Near Flat Despite Competitive Hiring

The U.S. Federal Reserve’s Beige Book released their report, covering the U.S. economy from late November through the end of the year.

“Only one manufacturing contact reported significant increases in employment and many said labor markets were very tight,” according to a summary of the report. “One manufacturer was three months behind schedule in trying to hire workers for a new plant. Another industrial firm had 20 unfilled openings in a plant with 100 employees and said they were making up for it with significant overtime. When asked why they didn’t increase wages to fill the openings, the contact said they would have to pay all the existing workers more which would be uneconomic.”

Three in ten workers to look for new jobs, study finds

Approximately three in 10 workers, 29%, plan to look for a new job in the next 12 months, according to a survey by Accountemps, a division of Robert Half International Inc. (NYSE: RHI). Los Angeles had the highest percentage of workers planning to seek new jobs, 40%, among the 27 markets surveyed.

Jobless Claims at Lowest Rate Since February 1973

Jobless claims last week reached their lowest level since Feb. 24, 1973, when they fell 41,000 to a total of 220,000, the US Department of Labor reported.

The four-week moving average of claims was 244,500, a decrease of 6,250 from the previous week’s unrevised average of 250,750.

Retirement Options Maybe on the Horizon for Gig Economy

“A new bill that would permit “multiple employer defined contribution plans,” also referred to as “MEPs” could enable businesses to voluntarily provide retirement benefits to gig economy workers, writes Mario Lopez in an opinion article in The Hill. Lopez is president of the Hispanic Leadership Fund.”

It’s a Good Time to be an Engineering Major

Students graduating in 2018 as Engineering majors have a projected average starting salary of $66,521, the highest of all majors, according to a report by the National Association of Colleges and Employers. Computer science graduates are projected to receive the second-highest starting salary at $66,005.

By |2018-01-19T02:43:44+00:00January 19th, 2018|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: January 19, 2018

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.