>>By the Numbers: June 15, 2018

By the Numbers: June 15, 2018

BountyJobs Bites

Hiring Forecast Strong into Q3

The Numbers: A survey released by ManpowerGroup ranked the U.S. as having one of the strongest outlooks for hiring among the 44 countries surveyed. 24% or more of the over 11K U.S. employers responding plan to increase staff in Q3.

“We are seeing optimism from business leaders across the world because of an improving global economy, with better growth prospects and stronger business performance,” said ManpowerGroup Chairman and CEO Jonas Prising. “Employment levels are growing in many countries and the quarter ahead looks bright for jobseekers, as long as they have the right blend of technical and soft skills employers are looking for today. To support those people that do not have the right skills, and fill open positions faster, employers need to build talent through targeted upskilling and re-skilling programs. This will identify people’s adjacent skills, help them transition into new or emerging roles and enable employers to bridge increasing talent shortages.”

Millennials Value Career Growth Most in the Workplace

The Numbers: Per data from Indeed, Millennials look for ways their company can help them grow in their careers and learn more than other attributes and perks.

Here are the 5 highest-rated companies for millennials based on employer ratings and reviews:

  1. Northrop Grumman
  2. Discover Financial Services
  3. Kaiser Permanente
  4. Delta
  5. Southwest Airlines

Discrimination Still Alive and Well in Tech

The Numbers: The ‘Dice Diversity Survey and Report’ found that 85% of female technology professionals feel that discrimination still exists in the tech industry while only 62% of males in the field do.

“Every company today should be thinking about its diversity program and considering the immense benefit to their organization when they are inclusive,” said Kristina Yarrington, VP of marketing for Dice. “Tech professionals say it’s an important factor when considering working for a company and with the highly competitive tech recruitment landscape today, neglecting this important program can mean the difference between maintaining a competitive advantage in all parts of business, or falling behind.”

Vacation Can Improve Engagement

The Numbers: A survey from O.C. Tanner found that for employees that take at least a week of vacation 70% say they’re ‘driven to contribute to their organization’s success’ compared with 55% that take less vacation. Of those who take a week or more of vacation, 65% say they ‘feel strongly about working for their organization a year from now’ while only 51% of those who don’t take regular vacations said the same.

Millennials in Management Roles Less Likely to Leave

The Numbers: A study from Visier Insights found that millennials almost 12% less likely to resign than millennials not in a management role. Millennial managers that have been promoted in the last two years resign at a 3.1% rate below average while those that haven’t been promoted resign at 5.2% higher than average.

Promotions Without Raises Becoming a Trend

The Numbers: Per a study from OfficeTeam, 39% of HR managers stated giving promotions without a raise in pay was common. The study found that 72% of men and 55% of women were open to a promotion without pay increases.

Independent Contractors Look to be a Shrinking Group

The Numbers: According to data from the U.S. Bureau of Labor Statistics, independent contractors accounted for 6.9% of total employment versus 7.4% for the last measurement in February of 2005.

AI and Robotics to Supplement Human Work, Not Replace

Tom Davenport writes in Forbes, that the real concern is getting people to learn new skills,  “If we’re not going to lose a lot of jobs soon, the next issue becomes what new types of jobs will emerge over the next several years, and what skills will be necessary to perform them.”

Technology Gives Companies a Leg Up in Hiring

The Numbers: Per the Harvard Business Review Analytic Services Report, 58% of respondents stated their technology offerings are a factor in candidates’ decisions to work for them’. 51% stated outdated tech decreases their chances to win a candidate over from the competition.

Managers Not Helping Staff Develop Skills

The Numbers: A survey from Gartner found that only 40% of employees felt their managers were helping them develop skills needed to do their job. An even smaller percentage felt that they were being well-prepped for future needs.

More Companies Embracing the Digital Age

The Numbers: Per a report by MIT Sloan Management Review and Deloitte, an increase is being seen in the number of employers that feel their adaptation of technology has matured. This is the first time in four years that this increase has been seen.

Companies Not Stepping it Up with Family Benefits Plans

The Numbers: A survey from Pacific, ‘Making Maternity Work in 2018: Key Trends in Family-Friendly Benefits’, found that most companies rated their plans 7.1 and gave employee satisfaction an even lower rating of 6.7. 25% of hospital stays are due to maternity and pediatric care and 15-25% of healthcare costs.  Stats from the survey found that working parents miss about 9 workdays a year to care for sick children.

Record Number of Contract and Temp Workers

The Numbers: According to the American Staffing Association, an average of 3.10 million temp and contract workers were employed by U.S. staffing agencies in Q1 2018. This is the highest since 1992 when this stat was first tracked.

Remote Work Options for the Hiring Win

The Numbers: A study from Robert Half found that 77% of workers would more likely accept a job offer if telecommuting was part of the perks. To avoid that dreaded commute, 86% of workers between the ages of 18-34 said they’d accept a contract that included working remotely.

Technology to Help Bolster Manufacturing Jobs

The Numbers: A new ABI Research study found that technology will redefine rather than eliminate manufacturing jobs. 67% of respondents stated they didn’t have an internet of things (IoT) in place for technology transformation and of that, 74% were looking into leveraging IoT within the next year. According to ABI, Industrial IoT tends to be automation enabled, with 35% of respondents assessing AI and 47% having deployed or in a review of robotics.

Half of Ride-Sharing Drivers See it as Full-Time Job

The Numbers: A report from the University of California Los Angeles Labor Center found that about 50% of drivers for human cloud, ride-sharing firms (such as Uber and Lyft) do so as their full-time job and rely on it as their sole source of income.

“Driving for companies like Uber and Lyft is often not just a short-term gig,” said Janna Shadduck-Hernández, Project Director at the UCLA Labor Center. “For many drivers, it is their full-time, primary work, and they depend on it to support themselves, their families, and children. In fact, two out of three ride-hailing drivers in LA rely on driving as their main source of income.”

Weekly Staffing Employment Hits Record

The Numbers: “U.S. staffing companies employed an average of 3.1 million temporary and contract workers per week in the first quarter, according to data released today by the American Staffing Association. This is the highest number for any first quarter since reporting for the ASA Staffing Employment and Sales Survey began in 1992.

Staffing employment rose 1.2% in the first quarter compared to the same period last year, marking the largest year-over-year growth since 2015.”

Tech Hiring Increase for Chicago and South Florida

The Numbers: A survey from Brilliant found that firms in the Chicago and South Florida markets had a large number of open finance/accounting and IT positions as they headed into the third quarter. 37% of businesses in these two markets had open roles in accounting/finance which was unchanged since last quarter, and 35% had open positions in IT which is up from 28% last quarter.

Law Firm Associates Salaries Hit $190K

The Numbers: As law firms compete for the most elite law school graduates, salaries have hit $190,000. Typically salary increases are seen across-the-board as law firms match each other’s starting salaries to remain competitive.

By |2018-06-15T01:09:59+00:00June 15th, 2018|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: June 15, 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.