>>By the Numbers: June 22, 2018

By the Numbers: June 22, 2018

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HR Continues to Evolve as Strategic Arm

The Numbers: Per a Paychex poll, 24% of HR pros call themselves ‘strategic partners’ while 17% say they are ‘compliance-focused’ and 12% state they are ‘administrative’. The growth of the adoption of technology in HR is said to have increased the strategic aspect – 95% of respondents have adopted technology for analytics – 90% lean on analytics to track time off and benefits while 85% use it to support decisions conveyed to senior management.

Better Benefits Lure Employees Away

The Numbers: A survey from Randstad U.S. found that only 39% of employees are satisfied with their benefits. 94% said they value benefits such as flexible schedules or student-debt help. 66% of respondents stated that benefits is the most important factor when considering an offer – 61% said they would accept an offer with better benefits, even if it meant a lesser salary. 55% of respondents stated they have already left jobs for better benefits somewhere else.

‘Worst Employers’ List Released

The Numbers: 24/7 Wall Street released a list of the ‘worst employers’ – those at the top of the list were said to lack ‘a positive culture, development opportunities, and trust’. Some of those on the list include Speedway gas stations, Genesis HealthCare, LA Fitness, and Family Dollar Stores.

Working Parents Want It All

The Numbers: A survey from CareerBuilder found that 78% of working parents believe they can be successful at work and at home. 65% stated they would rather not take a pay cut to stay home with their children. 56% of men and 47% of women stated they felt that they are currently successful at both.

Lack of Process Drives Employees to Leave

The Numbers: A study from Nintex, ‘Definitive Guide to Corporate America’s Most Broken Processes’ found that 67% of respondents felt that their ‘employers’ broken processes are barring them from reaching their full potential’.

IT Talent Increasingly Harder to Find

The Numbers: TechServe Alliance states that job growth in IT has ‘hit a wall’ as the industry saw just a .03% growth in May (5.3 million jobs). The org points to talent shortage as the main reason for the issue.

Temp Workers Hoping to Gain Full-Time Work

The Numbers: A survey from Staffing Industry Analysts found that more than 75% of temp workers really want full-time work. “Temporary workers were asked, “What is your preferred work status?” Forty-four percent chose full-time work on a salaried basis while 34% cited full-time work on an hourly basis.”

Multigenerational Teams is Preferred

The Numbers: The second-quarter Workmonitor survey from Randstad found that 86% of global respondents preferred ‘working in a multigenerational team’. 85% of respondents stated that collaboration among varying age groups was beneficial. 80% found that the main difference between age groups was the style of preferred communication.

HR Zeroes in on Employee Engagement and Company Culture

The Numbers: Per a Paychex ‘Pulse of HR’ survey, 80% of respondents felt that they held a strategic role and 44% stated they have a weekly meeting with their CEO and/or CFO.

Hawaii Has Lowest Jobless Rate in May

The Numbers: Hawaii posted the lowest unemployment rate among all states in May at 2.0%, the US Bureau of Labor Statistics reported. North Dakota was next at 2.6% on a seasonally adjusted basis, followed by Iowa and New Hampshire, both at 2.7%. Alaska recorded the highest jobless rate among all states at 7.2% in May.

Demand-Driven Education Desired

The Numbers: A report from Pearson and Jobs for the Future found that 55% of graduate recruiters ranked the following as ‘21st Century Skills’ – analytical ability, working cooperatively with others and other soft skills – 90% of those hiring ranked these as the top three when making hiring decisions.  The report also recommends that educators train graduates with skills needed out in the job market.

Global Skills Shortage Could Dictate Higher Salaries

The Numbers: The ‘Salary Surge’ study by Korn Ferry found that if the skills shortage continues, “the salary surge could add $2.5 trillion to annual payrolls globally by 2030, jeopardizing companies’ profitability and threatening business models.”  The three sectors that could be impacted the most are financial and business services; technology, media and telecommunications; and manufacturing.

Contingent Talent on the Rise

The Numbers: The ‘2018 Future Workforce HR Report’ by Upwork states that 91% of HR managers are ‘adopting more agile talent strategies’. 70% are using flexible/contingent talent such as freelancers, temp workers, and agency workers. It’s forecasted that the use of contingent workers will increase 179% in the next 10 years.

Employer Brand Largely Impacts Offer Acceptance

The Numbers: The 2018 MRINetwork Reputation Management Study found that 69% of respondents stated that ‘employer brand strength is important or very important when evaluating a job offer.’ 64% stated the ‘interview process conveys a fair amount to a lot about the company culture’. Competitive compensation packages (selected by 68% of respondents), work-life balance (47%), and advancement opportunities (40%) were the top 3 factors that impact employer brand.

Tech Revolution Transforms Work as We Know It

The Numbers: More than 40% of companies in Europe are impacted by a skills gap. Many are looking for not just IT skills but also soft skills such as social techniques. As we move forward, job titles such as ‘Social Media Officer’ will become the norm.

Housing Prices Impacting Temp Worker Supply

“Housing prices are making it more difficult to recruit in some areas. The Traverse City (Mich.) Record-Eagle newspaper reported on the problem in Traverse City, where employers are scrambling to locate temporary and other employees. “Our members are seeing labor shortages across the board,” Bill O’Brien, staff writer and researcher for TraverseConnect, told the Record-Eagle. “Whether it’s in construction or tech. We’re just seeing a lot of labor shortages, and that also cuts into the temp labor market. When workers are at such a premium, it creates a downward impact on the temp worker force.” And a staffing executive told the newspaper it was the high cost of housing cutting into supply.”

By |2018-06-21T18:34:45+00:00June 22nd, 2018|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: June 22, 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.