Employers Across the Globe Struggle to Hire Those with the Right Skillset
The Numbers: ManpowerGroup’s ‘2018 Talent Shortage Survey’ found that 46% of U.S. employers stated they can’t find candidates with the needed skills – this was at 32% in 2015, and is the highest level recorded since 2006. Employers in Japan reported the most difficulty at 89%, Romania at 81% and Taiwan at 78%. Our report, What’s Really Behind the Employment Skills Gap, explores the controversy surrounding this topic, who it effects, and how to tackle it head-on.
Around the globe, the top 10 hardest jobs to fill are:
- Skilled trades
- Sales representatives
- IT staff
- Accounting and finance staff
- White-collar professionals
- Office support staff
- Production operators/machine operators
U.S. IT Leaders Plan to Increase Staff
The Numbers: As security, cloud, and digital projects continue to expand, senior managers in the U.S. plan to increase tech talent in these areas. 60% of these IT decision-makers plan to increase tech hires the back half of 2018.
The top cities adding to their tech teams are:
- Los Angeles
- Phoenix, Ariz.
- Charlotte, NC
Four U.S. Metro Areas Tied for Lowest Unemployment Rates
The Numbers: The U.S. Bureau of Labor Statistics reported that Denver-Aurora-Lakewood/Colorado, Minneapolis-St. Paul-Bloomington/Minnesota and Wisconsin, Nashville-Davidson-Murfreesboro-Franklin/Tennessee, and San Jose-Sunnyvale-Santa Clara/California all tied for the lowest unemployment rate for large metro areas at 2.3%. The highest was the Cleveland-Elyria/Ohio area with a rate or 4.9%. The lowest rate among metro areas of all sizes was 1.5% in Ames, Iowa. The highest? 16% in Yuma, Arizona.
Tighter Job Market for M.B.A. Grads
The Numbers: A survey from the Graduate Management Admission Council found that 85% of U.S. employers plan to hire graduates of business school, which is down from 91% in 2017. This signals ‘the biggest drop in business-school recruiting since the start of the recession’. As well, beginning salaries for these graduates are forecasted to drop from $110,000 to $105,000 this year.
Web and Mobile Development Talent Sought After
The Numbers: Research from The Creative Groups finds that digital projects will spur an increase in hiring creative professionals within the back half of 2018. The top 5 areas are:
- Web and mobile development
- Web production
- User interface and interaction design/Creative development (tie)
- Visual design
- User experience
The most challenging areas to staff include:
- Web and mobile development
- Creative development
- User interface and interaction design/Information architecture/User experience (tie)
Skills Gap Impacting HR Manager Strategy
The Numbers: 62% of HR managers said ‘talent shortages are forcing them to embrace a more flexible workforce to fill positions’ per the 2018 Future Workforce HR Report from Upwork. 78% responded they believe skills will continue to become more specialized. While many stated they feel hiring is harder now than in the past, 61% forecast that in 10 years most of today’s roles won’t even exist. Our report, What’s Really Behind the Employment Skills Gap, explores the controversy surrounding this topic (is there really a skills gap), as well as how to tackle it head-on.
Consumer Confidence Decreases While Jobs Outlook Increases
The Numbers: ‘The Conference Board’s consumer confidence index decreased in June, following an increase in May. The index fell to a reading of 126.4 (1985=100) from 128.8 in May.
“Consumer confidence declined in June after improving in May,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of present-day conditions was relatively unchanged, suggesting that the level of economic growth remains strong. While expectations remain high by historical standards, the modest curtailment in optimism suggests that consumers do not foresee the economy gaining much momentum in the months ahead.”’
Registered Nurses and Software Developers are Hottest Jobs
The Numbers: Per Monster’s Worldwide job board these are the top 5 most frequently posted jobs:
- Registered nurses
- Software developers
- Supervisors of retail sales workers
- Customer service representatives
- Heavy and tractor-trailer truck drivers
Top 5 Cities with the Most Jobs Posted:
- New York City
- Los Angeles
- Washington, DC
Positive Employee Experience Has Huge Impact
The Numbers: Per research from IBM Smarter Workforce Institute/Globoforce WorkHuman Analytics and Research Institute, companies in the top 25% of employee experience see three times the ROI as those in the bottom 25%.
Employer Branding Highly Valued
The Numbers: The 2018 MRINetwork Reputation Management Study found that 69% of respondents stated that an ‘employer’s brand strength is important or very important when deciding to accept or reject a job offer’. Further, 64% said ‘the interview process conveys very much or a lot about the culture’.
C-suite Leaders Need to Increase Collaboration
The Numbers: 21% of public sector leaders collaborate or plan strategic initiatives together, per Deloitte’s ‘2018 Government Human Capital Trends’ report: The Rise of the Social Enterprise, A Government Perspective’. As well, more than 63% of public sector respondents stated that the ‘rewards strategy was misaligned or somewhat aligned’.
Like Hires Like?
The Numbers: A new report by Namely has found that recruiters and managers lean toward hiring folks similar to themselves. 80% of men responding have male bosses and more than 50% of women responding were direct reports of other women. The report suggests that the lack of gender diversity is a concerning issue in many industries.
St. Jude’s a Top Dream Employer
The Numbers: A National Society of High School Scholars’ 2018 Career Interest Survey found St. Jude Children’s Research Hospital as a top ‘dream employer’ for high school and college students. This year’s survey showed more interest in healthcare than in previous years with six other healthcare organizations chosen.
Apprenticeship Programs Make Positive Impact
The Numbers: The results of an American Staffing Association Workforce Monitor survey found that 90% of Americans that were apprentices or knew someone that was an apprentice ‘reported the experiences had a positive effect on their career’. 92% of adults in the U.S. that have opinions on apprenticeships have positive ones. As well, 54% of Millennials between the ages of 18 and 34 state they are ‘likely to consider these learning opportunities in the next two years’ – this is much higher than other age groups.
Fast-food Restaurants Lean on Robots in Hiring Shortage
The Numbers: The hospitality sector in April saw 844K open positions with a record low unemployment rate of 6% for restaurant workers. Chains such as CaliBurger, Dunkin’ Donuts, and Saladworks are turning to automation/robots to combat this challenging talent shortage.
Young Adults with Degrees Better Off Financially
The Numbers: The ‘Money Under 35’ report from Navient found that 41% of young adults between the ages of 22 and 35 that hold a degree are ‘financially healthier’ than those who did not go to college. 84% of those with a degree are more likely to have a job compared to 62% of those that do not have a degree.
Harley-Davidson to Move Out of the U.S.
The Numbers: Due to the EU’s new levies, Harley-Davidson has plans to move their production line for Europe motorbikes out of the U.S. The EU’s new duties will cost the motorcycle maker on average $2,200 more per bike exported to Europe. As the European market is the second-largest for Harley behind the U.S., this means many jobs lost to U.S. workers.
Employers Not as Ready as They Think for Crisis-Management
The Numbers: A Deloitte study, ‘ A Crisis of Confidence’ found that 90% of respondents believe they can ‘handle a corporate scandal’ but when offered to be put through a simulation only 17% agreed to do so. 80% of organizations across the globe have had to utilize their crisis management teams at least once in the past two years.
Staffers Surf the Web 4 Hours a Week
The Numbers: A Spiceworks survey, ‘Data Snapshot: How Web Filtering Affects Workplace Security and Productivity’ found that employers are paying workers $4,500 a year for the four hours per week they are on websites unrelated to work (based on the median U.S. salary of $45,812).
Human Cloud, Ride-Sharing Jobs Category Shows Increase
The Numbers: “The US Census Bureau recorded an apparent boom in human cloud, ride-sharing drivers. Last week, the agency announced that the number of “nonemployer establishments” in the “Taxi and Limousine Service” industry — which includes drivers for human cloud/ride-sharing firms such as Uber and Lyft — rose by 45.9% in 2016 from the previous year.”
Escape Rooms and Interview ‘Speed Dating’ Options for Applicants
The Numbers: 72% of U.S. job seekers are open to out of the box recruiting methods per a survey from The Knowledge Academy. As well, the survey found that 70% of companies are on board with exploring such measures such as assessing candidates in escape rooms citing skills evaluation of time management and problem-solving.
Majority of Working Parents Dealing with Burnout
The Numbers: Upwards of 60% of working parents feel they have experienced burnout, per a survey from the Business Performance Innovation Network and Pollfish. 40% of those state the burnout has ‘significantly affected their lives’. 29% stated that exhaustion and financial concerns caused their stress level to increase.
Kohl’s Hiring Earlier Than Ever Before for Holidays
The Numbers: More than 300 of the 1,100 Kohl’s locations have started accepting applications for seasonal holiday hiring. The tight labor market with strong competition to snag top talent spurred the earlier hiring schedule.
“We are hiring seasonal associates earlier than ever to ensure our teams are fully staffed, trained and ready to support peak shopping seasons,” Ryan Festerling, executive vice president of human resources at Kohl’s, said in a statement.