LABOR MARKET

  • UNDERSTANDING LABOR MOBILITY

    AUTHOR: // CATEGORY: Featured, Labor Market, relocation

    Companies that hire in a tight labor market need to get creative when they attract candidates. That means looking at different factors that influence employment, such as labor mobility. 

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  • WHAT 2018 TELLS US ABOUT HIRING IN 2019

    AUTHOR: // CATEGORY: Labor Market

    Looking back at the state of the labor market in 2018, the U.S. workforce experienced historic gains.  Unemployment fell to a near 50-year low, more than two million jobs were added, and wage growth began to accelerate. As employers look ahead to 2019, retaining their skilled talent in this labor market should be of critical importance. But who are the job switchers?

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  • THE JOB MARKET FOR SOURCERS

    AUTHOR: // CATEGORY: Advertising & Marketing, economy, Featured, Labor Market, Organizational Leadership, Recruiting & Sourcing Types, Social Sourcing & Recruiting, Source the Web, sourcing, Sourcing Function, talent acquisition

    Many companies are looking to build out internal sourcing teams strategically aligned within the organization due to the value sourcers bring to an organization. We will dive further into this in the next article “The Sourcing Impact on the Business,” so be sure to stay tuned. Being able to source is a skill and a talent that takes practice. With unemployment at an all-time low, candidates do not just come running to opportunities anymore. Companies have to find new ways to attract talent and retain that talent as well. In this article, we will look at the job market for a sourcer and how to position yourself to stand out.

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  • 6 TACTICS TO STOP PROMISING CANDIDATES FROM DISAPPEARING ON YOU

    AUTHOR: // CATEGORY: ghosting, hiring, Hiring & Recruiting, hiring challenges, In this week's e-newsletter, Labor Market, Latest News & Views, recruiting, unemployment

    In this tight labor market, the war for talent wages on – and you may be feeling like your biggest adversaries are your own promising candidates. 

    More and more job applicants are disappearing during the interview process, ignoring your calls or simply not showing up after accepting offers – otherwise known as “ghosting.”

    Role reversal

    Sound familiar? For the first time in a long time, job candidates have more options than hiring managers: According to the U.S. Bureau of Labor Statistics, there are 6.6 million job openings, and only 6.1 million unemployed people to fill them. This gives candidates the power to be more selective, rather than accept the first job offer that comes around.

    With candidates in the driver’s seat comes a strange role reversal for HR. Suddenly, companies are the ones carefully trying to woo candidates, and job seekers are the ones not returning calls after promising interviews.

    Because of this, companies are a little more cautious when a qualified candidate pops up, since the odds are slim they’ll stick it out through the whole process. Even someone accepting a job offer and showing up on the first day doesn’t guarantee they’ll stay.

    Best course of action

    While the current job market shows no signs of changing anytime soon, there are ways HR can fight back when it comes to candidates ghosting them:

    1. Focus on the work. Instead of trying to lure in top talent with your company culture and benefits packages, focus on whether the candidate will enjoy the actual job. The more interested and comfortable they are with the work, the more likely they are to stick around.

    2. Give candidates a deadline to withdraw from consideration. You’re less likely to be blindsided if you let applicants know there’s an alternative to ghosting, and they can leave the process with no hard feelings.

    3. Don’t give people the benefit of the doubt. Many managers refuse to believe they’re being ghosted and instead think a family emergency must’ve come up. This line of thinking ends up wasting valuable time you could use to find a new candidate.

    4. Discuss ghosting beforehand. Gently remind candidates that ghosting isn’t professional and could damage their reputation. If you have any personal examples to back this up, share those.

    5. Find out how many other employers are in the mix. If possible, try and get a sense of how many other companies the candidate is interviewing with currently. This will help you gauge the odds of them continuing your interview process.

    6. Put a time limit on your offer. When you make a job offer to your candidate and they need time to think about it, ask specifically how much time. Set a deadline for them to get back to you, and let them know the offer could be rescinded if the candidate misses it.

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  • THEIR LOSS IS YOUR GAIN- HOW TO UTILIZE DOWNSIZING IN STAFFING TO YOUR ADVANTAGE

    AUTHOR: // CATEGORY: Cold Calling, Contracts, Hiring & Firing, economy, Featured, Human Resources, Labor Market, layoffs, Organizational Leadership, Social Sourcing & Recruiting, Source the Web, sourcing, Sourcing Function, talent acquisition

    These days seeing headlines announcing massive layoffs at companies are not uncommon. News stories like these often set off alarms or panic for many as they can signal changes in the economy that are perceived as dismal.  As a sourcing professional, this should be a golden opportunity to find ideal candidates with the relevant experience and skills you’re looking for. The question is, once you become aware of a downsizing, what course of action can you take to get in touch with a potentially large pool of applicants?

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  • WHAT YOU NEED TO DO IF A LAYOFF COMES

    AUTHOR: // CATEGORY: Featured, Labor Market, layoffs

    In rapidly changing markets, layoffs are a possibility in any industry, at any time, and are bound to send shock waves through an organization.

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  • HIRING IN TODAY’S LABOR MARKET: 4 CANDIDATE ‘RED FLAGS’ YOU MAY WANT TO OVERLOOK

    AUTHOR: // CATEGORY: candidates, hiring, Hiring & Recruiting, In this week's e-newsletter, interviews, Labor Market, Latest News & Views, recruiting, resumes, talent pool, talent shortage

    When the job market was at its worst, recruiters could afford to be more selective with candidates they chose to interview. But, in this tight labor market, recruiters need to find ways to widen their hiring pools. 

    One way to do this? Try looking at candidates who, in the past, may have been eliminated in the early stages of the hiring process, due to reasons that aren’t exactly relevant anymore.

    Evil HR Lady Suzanne Lucas explains which resume “red flags” shouldn’t immediately disqualify a candidate, since after an interview, you might discover they would be a good fit.

    1. Laid off from last job

    Lay-offs are not at all representative of an employee’s ability or work ethic. Over 300,000 workers experienced lay-offs during the 2008-2009 recession; odds are, many of them were good employees who were just in the wrong job at the wrong time.

    Often, a lay-off is just an indicator of financial instability at a candidate’s previous company. To get to the reason behind the lay-off, ask a candidate if they could explain a little bit about their previous company’s situation during this time.

    2. Big gaps in work history

    According to the Bureau of Labor Statistics, there are 1.4 million Americans who have been unemployed for 27 weeks or longer.

    But just because candidates have been out of the workforce for a while, doesn’t mean they’d be a bad hire. There could be many reasons why it’s been a while since their last job — but you won’t know unless you ask them about it.

    To get a better idea of what they could bring to the table, ask these candidates what their short-term and long-term career goals are.

    3. No bachelor’s degree

    In today’s job market, a bachelor’s degree seems like a requirement for practically every job. But ask yourself: Is that degree really necessary for this job? Or could years of work experience make up for the lack of college education?

    When speaking to these candidates, find out more about relevant skills they’ve learned over the years. See if they have further education plans in the future, too.

    4. Record of job-hopping

    At first glance, switching jobs a lot seems like a deal-breaker. Why should you hire someone if they most likely won’t stick around? And maybe they do get bored easily, but there might be an explanation for all the job-hopping.

    The candidate might’ve joined a start-up that went under in six months. Maybe their spouse got a job across the country so they moved, or maybe they had the worst manager in the world.

    None of these reasons have anything to do with the candidate being disloyal or wishy-washy, but you won’t know unless you ask.

     

     

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  • COMP IN 2018: SOME RAISES, BUT BONUSES WILL BE MORE COMMON

    AUTHOR: // CATEGORY: Compensation & Benefits, economy, Featured, Labor Market

    Location. Location. Location. At PayScale, we analyze what matters when determining pay, from education to industry to skills to management responsibilities. Consistently, at the top of the list of these factors is location. This year, we decided to map out how location affects pay across the whole of the United States – and how things changed in 2017. We also took some time to identify some compensation predictions for 2018 to help organizations get ahead of the curve when it comes to thinking about compensation strategy and structure for the coming year and beyond.

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  • HOW TO USE RELOCATION TO WIN THE WAR FOR TALENT

    AUTHOR: // CATEGORY: Featured, Labor Market, relocation, Strategic HR, talent acquisition, talent shortage

    In the past couple of years, we’ve been able to count on at least one piece of good news each month: steadily dropping unemployment rates.

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  • IN A CANDIDATE-DRIVEN MARKET, CANDIDATE EXPERIENCE MATTERS

    AUTHOR: // CATEGORY: BLS (Bureau of Labor Statistics), branding, candidate experience, Featured, Labor Market, recruiting, Strategic HR, talent acquisition

    The monthly unemployment rate  has been trending down for years and is now at a 16 year low. This trend is especially good for jobseekers, even as it makes hiring for employers more competitive than ever.

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