>>By the Numbers: April 20, 2018

By the Numbers: April 20, 2018

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More Overtime the Answer for Skills Gap?

Data from the U.S. Bureau of Labor Statistics reports that average weekly overtime hours decreased slightly March over February 2018.  In industries such as construction as well as mining and logging, however, have higher year-over-year rates for overtime to make up for labor shortages.

Talent Acquisition Strategies Need an Update

A recent report from Catalant, ‘Reimagining Work 20/20’, found that 63% of companies responding have a ‘future of work’ plan but still need to focus on how talent is acquired.  The top three challenges felt by survey respondents? 44% cited training, 38% planning and budgeting, and 37% technology.

Multiple Vendors for Benefits is Confusing

The survey, ‘Driving Benefits Engagement: Strategies to Optimize Employee Health and Well-Being Programs’ from Health Advocate, found that more than 40% if responding employees felt that dealing with multiple vendors for their benefit was confusing. In addition to that confusion, 54% of employers have access to benefits on different platforms with different logins.

Top Concerns for Hiring in 2018

The HireRight ‘Employment Screening Benchmark Survey’ found that 42% of responding employers were worried about negligent hiring in 2018. “Other areas of concern included the U.S. Equal Employment Opportunity Commission (40%) the Fair Credit Reporting Act (24%) and medical marijuana (22%).”

Consistent Communication When Hiring a Top Priority

In a memo sent to Federal HR Directors from an official at the U.S. Office of Personnel Management, the importance of communication with applicants was stated as key. Consistent communication is seen to maintain engagement and interest with the candidates – especially if the hiring process requires multiple steps.  Otherwise, the applicant may accept an offer from someone else.

Voluntary Benefits Seen as Involuntary

A new study from Willis Towers Watson, ‘2018 Emerging Trends: Voluntary Benefits and Services Survey’, reports that only 5% of employees feel their voluntary benefits had no impact on their employee value proposition and total rewards strategy. This is down from 41% just five years ago. As well, 69% of employers in the study feel that voluntary benefits will play a major part in employee value proposition in the next 3-5 years.

IT Job Growth Increases Slightly

TechServe Alliance reported that the number if IT jobs rose 0.05% in March over February reaching more than 5.3 million.  This growth rate is still seen as low, but is also an improvement over activity in recent months.  “After declining steadily throughout 2017 and into January of 2018, the rate of IT job growth edged up slightly in March,” TechServe Alliance CEO Mark Roberts said.

1% of Millennial Doctors Found Jobs Through Social Media

A survey via CompHealth found that only 1% of millennial doctors found their job through social media platforms such as LinkedIn, Facebook, and Doximity. However, 40% found work through referrals and networking.  “It was surprising to learn that virtually no young physicians were finding work through social media. Instead, many were finding jobs through old-fashioned personal connections,” said Lisa Grabl, president of CompHealth. “This study helps us better understand the motivations and interests of young doctors at the beginning of their careers, and how hospitals and clinics can build programs to attract and retain these talented young physicians.”

Freelance Work a Major Interest for Americans

A study from MetLife found that 57% of surveyed Americans are interested in freelance roles. This is up from 51% last year, in a similar survey.  A whopping 74% of millennials are interested, 57% of Gen X, and 43% of Baby Boomers.

U.S. Job Openings Decrease Slightly

“The number of US job openings edged down by 176,000 in February from the prior month to a to approximately 6.0 million, according to seasonally adjusted numbers released today by the US Bureau of Labor Statistics. Hires and separations were also little changed, edging down only slightly.

The job openings rate — a measure of job openings compared with total employment — was 3.9% February, up from 4.0% in January.”

Gen X Impacting Traditional Work More Than Millennials

A report from CNBC finds that Gen Xers play a large role in companies moving forward with technology and digital transformation. At 51% of the global leadership role, this percentage is predicted to rise – the oldest Gen Xers will be working for 10 more years and the youngest will be working for another 30 or more.

Active Listening More Important Than Skillset?

A survey from Express Employment Professionals finds that listening and asking relevant questions is more important during interviews than actual skills, experience, and work history. Business leaders and decision-makers were asked, ‘What most improves a candidate’s chances during the job interview?’ – 21% stated actively listening and asking relevant questions while 18% stated skills, experience, and work history.

Indeed Ranks Best Cities for Job Seekers

Indeed’s list of Best Cities for Job Seekers in 2018 includes 5 of the top 10 cities in California.

“The list ranks cities on four separate factors – job market favorability, salary ranking, work/life balance and job security and advancement – as well as a final Indeed City Score.” Here are the top 5:

  1. San Jose, Calif.: 100
  2. San Francisco: 83.3
  3. Boston: 65.4
  4. San Diego: 59.1
  5. Los Angeles: 57.7
By |2018-04-18T01:39:20+00:00April 20th, 2018|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: April 20, 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.