Pretty soon we’re going to start seeing people donning sandwich boards at every corner advertising their open roles – from entry level to senior executives. Just picture it – “will pay to train…any (breathing) human…”. Employment only inched up a bit in September and early October as high demand continued for workers but the actual supply of labor was low.
Hours have been slashed for jobs in retail, hospitality, and manufacturing as there aren’t enough workers to cover the shifts. Low labor supply has been seen in transportation and technology as well. There’s been an increase in turnover as workers jump ship for other jobs…or retirement. #byefelicia
Might want to sweeten the pot for your tech employees – a recent survey found that 72% (😲) of technology workers are considering leap-frogging over to their next gig in the next year. The reasons are probably obvious to most, but here are the top ones, per the survey: limited career progression (41%), a lack of flexibility in working hours (40%), a toxic work environment (39%), a lack of learning and development opportunities (32%), and remote work options (30%).
It’s no secret that the current hiring environment is a tough one…each week reports come out about how hard it is to find talent and all the perks employers need to come up with in order to attract talent away from their competitors (which, by the way, is everyone). In this particular survey, 74% of CFOs say that challenges in hiring have skated way past supply chain obstacles in the list of things to worry about as they continue to struggle filling open positions. Of those, 82% are increasing pay by an average of 9.8% (that’s not nothing!) in order to fill those roles. A little over a third (33%) are looking at leveraging automation to replace workers.
Amazon is apparently hiring enough additional employees to match the population of Iceland – the company has announced its hiring for another 150,000 seasonal jobs across the U.S. Previously they announced they were hiring 125,000 full- and part-time fulfillment and transportation jobs and 40K+ corporate and tech jobs. To entice applicants, the average starting pay will be $18 an hour, sign-on bonuses for up to $3K will be given, and some shifts in some areas will bring in another $3 per hour.
It’s flexibility or nothing at all as 40% of surveyed employed Americans will only consider job offers that include a remote working option. Of this, 24% said they would only consider a hybrid work scenario while 16% only want remote work.
That’s it for now!
Until next week,
Erin and Team BountyJobs