By the Numbers: September 7, 2018

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IT Job Growth 8 Times Faster

The Numbers: Employment and wage gain slowdowns seen in other industries doesn’t seem to be impacting IT roles. IT jobs are growing eight times faster than all other jobs per a study from MIT. Big data, computer software, and cybersecurity in particular are in-demand. Between 2004 and 2017, IT occupations have grown 19.5% – less IT-intensive occupations grew only 2.4% within the same timeframe.

Construction Growth Further Impacted by Skills Gap

The Numbers: 80% of construction firms report a challenge in finding skilled workers especially for hourly craft positions, per a report from the Associated General Contractors of America and Autodesk. Delays and higher projects costs are caused by the talent shortages as businesses attempt to keep full headcount…or reach it at all.  More than 75% of tracked metro areas have the same problem. “Technology can help bridge [the skills gap], and more firms are bringing training in-house to implement digital strategies such as building information modeling, or BIM, to ease staffing challenges and train the next generation of industry professionals,” Sarah Hodges, senior director, construction business line at Autodesk, said in a press release.

Candidates are Customers

The Numbers: How hiring managers treat candidates could impact future purchases and brand loyalty for that company. The report, ‘Add to Cart: Candidates are Consumers, Too – The Impact of Candidate Experience on Buying Behaviors’ found that 54% of respondents said the ‘candidate experience directly influences their choice to buy or pass up a company’s products or services’.

More Development Opps Wanted

The Numbers: 51% of workers are satisfied with their current jobs but found that their employers were lacking regarding offering development opportunities, per a report from The Conference Board. The least satisfying aspects of their jobs? Workload, educational/job training programs, the performance review process, and promotion policy.  The greatest satisfaction came from the job’s relational and social aspects – coworkers, commutes, interesting work, supervisors, and their workspace.

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Small and Medium Business Workers Crave Flexibility

The Numbers: Results of a survey from TriNet found that SMB employees valued unconventional benefits as important to job satisfaction, such as flex time, remote work, unlimited paid time off, commuter benefits, and volunteer time.

U.S. Manufacturing Index Increases in August

The Numbers: “Economic activity in the US manufacturing sector accelerated in August at a faster rate than in July, according to the Institute for Supply Management’s manufacturing index. ISM’s manufacturing index rose in August to a reading of 61.3 from July’s reading of 58.1. Readings above 50 generally indicate improving conditions.

“Respondents are again overwhelmingly concerned about tariff-related activity, including how reciprocal tariffs will impact company revenue and current manufacturing locations,” said Timothy Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee. “Panelists are actively evaluating how to respond to these business changes, given the uncertainty.””

Longer Commute? You Might be Less Likely to Land the Job

The Numbers: Job applicants that live a longer distance from the job site may have a disadvantage in the interview process than others. Per a study from University of Notre Dame researchers, employers were 14% less likely to call back candidates who lived further away.

Flexible Work Schedules Required

The Numbers: Flexible work options are becoming less of an option and more a requirement. The ‘2018 Emerging Workforce Study’ from Spherion Staffing Services found that 41% of respondents said they ‘would only work for an employer offering agile work options’. 45% stated they are ‘very or extremely satisfied with their work-life balance’.

Online Job Ads Fall in August

The Numbers:  “US online job ads decreased in August by 46,300 to about 4.6 million, according to The Conference Board’s report on online job ads released today. Most occupations showed losses over the month and most states showed small losses.

The August decrease follows an increase in July but declines in June, May and April.

Transportation and material moving ads had the largest decrease in August, down by 24,700 to 324,100, followed by healthcare practitioners and technical ads, which decreased by 15,400 to 505,700 ads. Business and financial operations ads fell by 9,700 to 291,800 ads.”

Sought After Candidates Have Both Tech and Human Touch

The Numbers: HR tech might be taking the industry by storm, but business leaders still value human touch for the critical points of the recruitment process. Randstad Sourceright’s Q3 2018 Talent Trends report found that 51% of employers surveyed believe ‘the initial screening should be mostly or completely automated’, however, human interactions are still needed at certain points. “The top three functions employers believe benefit from a personal touch include shortlisting candidates by video interviews, 28%; scheduling interviews with candidates, 27%; and managing talent communities and engagement, 26%.”

2018-09-06T16:23:53+00:00 September 6th, 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.