By the Numbers: September 21, 2018

BountyJobs Bites

Office Perks as Important as Health Benefits?

The Numbers: 68% of employee respondents feel that ‘work perks’ are as valuable as health coverage, life insurance, etc. Per a survey from Zenefits, small businesses are having a hard time competing with large companies who have the resources to offer these perks.

CHRO Salaries Rising in Certain Industries

The Numbers: Per the Crowe 2018 Bank Compensation and Benefits Survey, median salaries for CHROs in the banking industry increased by 7% while retail banking officers’ median pay decreased by more than 7%.

Boeing Bringing Retirees Back On

The Numbers: As of August 15, Boeing started hiring retired mechanics and inspectors under an agreement with the International Association of Machinists and Aerospace Workers. Production snags were caused in part by engine and fuselage shortages for 737s.

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CS Grads Earn Highest Salaries

The Numbers: Survey data released by the National Association of Colleges and Employers reported that computer and information sciences majors are the top-paid college graduates with advanced degrees for the class of 2017. Here are the top 5:

  • Computer and information sciences: $93,415
  • Engineering: $84,052
  • Mathematics and statistics: $79,985
  • Engineering technologies: $78,235
  • Health professions: $74,384

Holiday Hiring on the Rise, UPS at 100,000

The Numbers: Multiple companies are planning to increase seasonal hiring around the holidays this year. UPS plans to hire 100,000 people which is up about 5,000 from last year and FedEx plans on hiring about 55,000 people also a 5K increase. In retail, Target is forecasting seasonal hires of 120K (a 20% increase over last year) and Macy’s plans to hire 80K with is about flat with last year.

Fastest Income Growth = California

The Numbers: Half of the top 10 U.S. metro areas with the fastest income growth were in California. San Diego was number one with a 5.4% increase in median household income to $76,207, largely due to biotech and telecom sectors. In many areas of the state, there are more jobs than there are workers, which is also affecting the wage increase.

AI to Help Jobs Growth, Not Hinder It

The Numbers: 133 million new jobs are expected to be created via artificial intelligence by 2022 – larger than the forecast of 75 million that would be removed. Per The Future of Jobs 2018 report, by 2025 more than 50% of current workplace tasks will be done by robots as opposed to 29% today.

National Conversation on Skills Gap

The Numbers:  “The Society for Human Resource Management, the US association for HR professionals with 285,000 members, called for all employers to join a national conversation about closing the skills gap. “The economy is hot, unemployment is low, and the skills gap is wide,” said SHRM President and CEO Johnny Taylor, Jr.”

Millennials Differ on Work Motivations from Other Age Groups

The Numbers: Per a FlexJobs survey, millennials work mostly to finance living expenses as well as travel while older employees do so for enjoyment and retirement savings. 70% of millennials stated they considered leaving a job for one that had flexible work options while only about 50% of older workers said the same.

Tools Transform the Workplace But Also Cause Frustration

The Numbers: 44% of employees say tools for work management are being requested but executives aren’t complying, per a Workfront survey.  As well, 43% of millennials feel their company is pushing too many tools on them. Conversely, only 25% of Baby Boomers say the same.

Lack of Compensation Info Main Interview Frustration

The Numbers: A survey from Glassdoor found that lack of info around a total compensation package is one of the biggest frustrations within the interview process. 50% of respondents stated this issue, as well as employers canceling or postponing interviews, were some of the top frustrations. 47% found that the lack of or slow communication is also a pain point.

Gig Workers Satisfied as Much as Traditional Workforce

The Numbers: Workers within the gig economy report being just as satisfied as their traditional workforce counterparts including financial situations and family lives per the Morning Consult.  Pay, benefits, work-life balance also top the list of perks that gig workers are happy with.

2018-09-20T18:14:53+00:00 September 21st, 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.