>>By the Numbers February 28, 2020

By the Numbers February 28, 2020

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Competitive Pay Spurs on Innovation

The Numbers:

  • The ‘winner-takes-all’ mentality has proven to be most effective to encourage creativity that fuels economic growth
  • A contest gave contestants the opportunity to compete for one prize of $15,000 or one in which the top 10 entries received $1K. Those who opted for the $15K prize submitted much more novel, creative, and innovative entries
  • Source: University of California San Diego & Thermo Fisher Scientific

Labor Market to Continue Going Strong

The Numbers:

  • The overall strength of the labor market is expected to continue, though not evenly distributed across regions and geographies
  • Ongoing shortages of talent and changing client skill needs will continue
  • Source: ManpowerGroup

Majority of Professionals Have Asked for Higher Salary

The Numbers:

  • 54% of U.S. professionals said they ‘tried to negotiate a higher salary when they received their last employment offer’.
  • Miami, Los Angeles, Phoenix, New York, Dallas, and San Diego had the most workers who tried to negotiate compensation
  • Source: Robert Half International

Colorado County Has Highest Wage Growth

The Numbers:

  • Boulder County in Colorado posted the highest year-over-year increase in average weekly wages among all large U.S. Counties in Q3 2019
  • The average weekly wage in Boulder County increased 18.4% year over year to $1,547
  • The ‘professional and business services’ industry had the biggest impact, seeing average weekly wages rise by 51.8% to $1,016
  • Source: U.S. Bureau of Labor Statistics

Best U.S. Job Markets

The Numbers:

  • Austin, TX earned the top spot with Nashville at number 2. Nashville jumped up from number 7 in 2018
  • Austin and Nashville were helped by incoming campuses from Apple and Amazon, respectively
  • Source: The Wall Street Journal

Interviews Seen as Less Dependable Source in Hiring

The Numbers:

  • 80% of recruiting professionals rank interviews as essential in the hiring process
  • However, a fifth of those regret relying on interviews when hiring instead of also including tests and assessments
  • 1 in 4 reported spending more on online job postings than other recruiting strategies
  • Source: Clutch
By |2020-02-27T17:10:01+00:00February 28th, 2020|Categories: Talent Acquisition Trends|Comments Off on By the Numbers February 28, 2020

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.