>>By the Numbers: December 13, 2019

By the Numbers: December 13, 2019

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Younger Workforce Assume Quick Raises

The Numbers:

  • About 50% of workers 54 and under expect a raise or a promotion each year
  • Only 12% of baby boomers have these expectations
  • 17% of workers under 34 years old stated they think their company’s employees have a fair shot at advancement
  • Source: Clutch

Optimism from Small Business Owners for 2020

The Numbers:

  • Small business owners expect revenue to increase within the next year
  • 24% ‘expect to face challenges related to controlling costs’
  • 18% expect to face challenges related to finding qualified employees
  • Source: CNBC and SurveyMonkey

Talent Shortages and Tech Adoption Top Concerns for Execs

The Numbers:

  • More companies are adopting tech solutions but 50% of those are struggling with ‘rapid tech development’
  • 46% of employers say their workforce will increase in size
  • 59% stated they expect to face a labor shortage within the next two years
  • Source: Ceridian

BountyJobs Reports – Year in Review: Talent Acquisition in 2019 and the 2020 Impact

The Numbers:

  • A whopping 43% of professionals plan to look for a new job over the next 12 months
  • The majority of employers, 61%, planned to raise wages in 2019, which was up from 48% in 2018. What’s in store for 2020?
  • Manufacturing saw consecutive increases in employment for over 18 straight months, the longest stretch since the mid-1990s. However, around 90% of manufacturing
    companies couldn’t fill all of their open roles.

Strong Job Growth to Continue

The Numbers:

  • “The Employment Trends Index increased in November, suggesting solid job growth will continue in the coming months,” said Gad Levanon, head of The Conference Board Labor Market Institute. “Recently published indicators held on better than expected, suggesting that businesses are less cautious than expected and that economic growth will remain solid, despite a very tight labor market and declining corporate profits.”
  • November’s index level rose to 110.18, up from October’s index level of 109.96
  • Source: The Conference Board Labor Market Institute

Millennial and Gen Xers Expect Employer Investment

The Numbers:

  • Temp workers within the Millennial and Gen X groups value ‘their employers’ investments in them more than baby boomer workers’
  • The investment-performance relationship is between the worker and the client company rather than the staffing firm
  • Source: Professor of Management at Bucknell University

Skills Gap Impacts All Skill Levels

The Numbers:

  • 32% of employers find it challenging to fill low-skill positions
  • 46% have a hard time finding workers for middle-skill jobs
  • 35% can’t find workers for high-skill jobs
  • Source: TrueBlue Inc.

Gig-Work ‘Hiring Spree’ On Its Way

The Numbers:

  • The U.S. Census Bureau will be looking for 500,000 part-time and temp workers for the 2020 decennial Census
  • The jobs will range between $13 and $30 per hour
  • Source: Quartz

Recruitment Process Matters When Candidates Weigh Offers

The Numbers:

  • While salary is the most influential factor, the quality of the application and recruitment process is a big consideration for candidates when reviewing offers
  • More than 50% of job seekers stated ‘it should take between one to two weeks following a first interview to receive a job offer from an employer.’
  • Conversely, the average time-to-hire was 38 days in 2017 – about 5.5 weeks on average
  • Source: Zety

AI Apps in Screening Process Not Desirable for Candidates

The Numbers:

  • 88% of workers would not be comfortable with using an interview app that leverages AI for candidate screening
  • 55% would prefer an in-person interview
  • 48% don’t trust AI to be accurate with the human side such as emotions and cues with accuracy
  • Source: The Harris Poll for Yoh

Hiring Plans in U.S. Stable for Q1 2020

The Numbers:

  • 22% of U.S. employers plan to increase hiring in Q1 2020
  • Only 5% planned to decrease their hiring
  • Source: Manpower Group

Blue-Collar Jobs Requiring a Degree

The Numbers:

  • U.S. manufacturers are requiring that workers have college degrees more now than previously
  • New roles that employ advanced skills are part of the reason for the push on higher education levels
  • The number of manufacturing employees with degrees will outnumber those without degrees within the next three years
  • Source: Wall Street Journal

In 2020, IT Hiring Will Leverage Interim Professionals

The Numbers:

  • The majority of employers tech talent strategies for 2020 include interim hires
  • 96% were ‘more likely to employ interim professionals next year’
  • 60% of those already includes project-based workers in their strategy
  • Source: Robert Half

Almost Half of Employers Looking Forward to Strong Market for College Grads in 2020

The Numbers:

  • The college graduating class of 2020 is expected to enter a robust job market
  • Almost 50% of employers rate the job market as ‘very good’
  • Employers rated the job market for 2019-20 graduates:
  • Excellent: 9.8%
  • Very good: 48.2%
  • Good: 34.8%
  • Fair: 7.1%
  • Poor: 0.0%
  • Source: National Association of Colleges and Employers

Talent Shortages, Healthcare, and Diversity Top HR Challenges for New Year

The Numbers:

  • Some of the most difficult challenges facing employers in 2020 are finding high-quality applicants, preparing for the future of healthcare (Affordable Care Act), and managing diversity
  • 30% of HR professionals saw recruiting and hiring as the top challenge
  • 9% are extremely challenged when trying to find high-quality candidates
  • Source: XpertHR
By |2019-12-12T20:08:21+00:00December 13th, 2019|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: December 13, 2019

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.