Negative Company Ratings Have Big Impact on Applicant Volume
The Numbers: A survey from Monster found that 38% of respondents would only apply to companies that had at least a 3-star rating out of a 5-star rating system. Almost one-third would ‘never apply’ to an employer that had negative employee reviews.
Salaries Projected to Rise in 2019 but Bonuses to Decrease
The Numbers: Salaries are to rise 3.1% in 2019, which is the highest increase seen since the recession in 2008. However, bonuses and other incentive pay is forecasted to decline after seeing consistent increases between 2010 and 2015.
CEO Outlook Survey Reports Higher GDP Estimate and Decline in Hires
The Numbers: The 2018 U.S. GDP growth is now estimated at 2.8%, up slightly from the previous estimate of 2.7% from Q2, per the CEO outlook from the Business Roundtable’s third-quarter 2018 CEO Economic Outlook Survey. Plans for hiring decreased in Q3 but still ranks ‘as the third-highest value for the employment portion in the survey’s history.’
“The survey found 56% of respondents expect their company’s US employment to increase in the next six months, down from 58% in the second-quarter survey. On the flip side, 13% expect employment to decrease in the next six months, unchanged from the prior survey. And 30% in this quarter’s survey expect no change.”
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Hawaii Posts Lowest Jobless Rate in August
The Numbers: Hawaii posted the lowest unemployment rate among all states in August at 2.1%, the US Bureau of Labor Statistics reported today. Iowa was next at 2.5% on a seasonally adjusted basis, followed by North Dakota at 2.6%. Alaska recorded the highest jobless rate among all states at 6.7% in August.
U.S. Leading Index Up in August
“The Conference Board’s US Leading Economic Index rose 0.4% in August from July to a reading of 111.2 (2016 = 100), following a 0.7% increase in July and a 0.5% increase in June.
“The leading indicators are consistent with a solid growth scenario in the second half of 2018 and at this stage of a maturing business cycle in the US, it doesn’t get much better than this,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.“
Tech Leaders Think Outside the Box to Recruit Talent
The Numbers: Per research from Robert Half Technology, IT decision makers are open to trying multiple recruitment strategies to get talent in the door. Leveraging third-party recruiters and offering job flexibility and more pay as a few options. “Technology leaders were asked, “Which of the following are you willing to do when you face challenges filling an open full-time role?” The top 3 responses included:
- Work with a specialized recruiter: 46%
- Be more flexible on skills requirements and provide training to new hires: 45%
- Divide responsibilities among existing team: 45%”
Tech Disruption Could Have Larger Impact on Jobs
The Numbers: Per a new report, today’s students are unprepared for the future of work. Deloitte Global and GBC-Education found that 1.8 billion youth around the world may be left behind due to emerging technologies. The four skills the workforce of the future should have? Per this report, workforce readiness, soft skills, technical skills, and entrepreneurship.
Lack of Leadership and Changing Cultures Stymies Employers
The Numbers: Gender, cultural, and leadership issues tend to be some of the most persistent challenges facing full-time U.S. workers per a study from Udemy, ‘Udemy in Depth: 2018 Employee Experience Report’. While employers are attempting to increase retention by giving employees positive experiences, 45% of female respondents and 30% of male respondents ‘feel unsupported professionally by their bosses.’
Pay Nondisclosure a Top Frustration for Job Seekers
The Numbers: Canceled interviews and lack of information around pay are two of the top frustrations for all job seekers per a Harris poll for Glassdoor. 41% stated that the third biggest irritation was experiencing slow or no callbacks.
Experimenting and Risk Taking Inspires Gen Z
The Numbers: 80% of Gen Zers feel that failure leads to innovation and 17% state that failure prepares them for new challenges. 70% feel that an approach to life that is full of curiosity is more important than to hone in on a specific skill.
Is a Resume Lie a Deal-Breaker?
The Numbers: About 50% of respondents in a TopResume survey stated that a lie on a resume would cause them not to consider the candidate for the job, but the other half stated that it would depend upon what the lie was.
Digital Evolution Requires Leadership Transformation
The Numbers: 95% of companies surveyed stated they believed an updated look on leadership is necessary when it comes to handling digitization in the workplace. The study, ‘Workplace 2025: The Post-Digital Frontier’ also found that leaders will need to be inspiring, leverage technology, drive innovation, encourage collaboration, and manage risk.
Long Commutes Impact Lack of Retention
The Numbers: 23% of employees have quit a job due to a bad commute per research from Robert Half. Chicago, Miami, New York, and San Francisco had the highest number of employees leaving jobs due to bad commutes.
Service-Sector Job Creation Strongest in 3 Years
The Numbers: Job creation in the service-sector this September was the strongest since May 2015, per IHS Markit. While manufacturing jobs have expanded, it’s that the slowest rate in 13 months.
Employee Stress Management Could Correlate to Handling Remote Work
The Numbers: An employee’s well-being impacts their ability to be productive in a remote environment, per research from Baylor University. Autonomy, strain, and emotional stability were measured.
Automation Increases Productivity
The Numbers: Organizations that leverage automation are 33% more likely to improve the experience of human workers, per a study by Goldsmiths, University of London. Higher performance was seen in workplaces that utilized robotic process automation (RPA) and artificial intelligence (AI).
A 4-Day Workweek Desired by Workers
The Numbers: Working ten hours a day for four days a week is thought to not only be the ideal work schedule but 50% of adverting and marketing hiring decisions makers that were polled feel that productivity would increase with this schedule. 76 % feel that allowing employees to do non-work related tasks on company time would also increase performance, per a study by The Creative Group.