BountyJobs Bites
Raises and Promotions Expected in 2020
The Numbers:
- In Q3 of 2019, worker confidence was at a record high
- The anticipation of expected promotions saw the largest increase quarter-over-quarter rising from 110.1 in Q2 to 133.9 in Q3 2019.
- Source: HRO Today Magazine and You
Hiring for Seasonal Roles is Most Stressful
The Numbers:
- Long, manual onboarding processes cause stress for those hiring holiday seasonal workers
- Almost 80% of HR respondents say that the time it takes to onboard new staff is challenging
- 72% stated that handling onboarding paperwork is a struggle
- Source: Adobe
Most Job Seekers Run From a Bad Candidate Experience
The Numbers:
- 49% of job seekers have said they have rejected a job offer due to a negative candidate experience
- A higher percentage said they would discourage family or friends from applying for a job due to a bad experience with the company’s recruiters
- Source: PwC
BountyJobs Reports: When Recruiter Priorities Compete; Fill Speed, Growing Recruiter Req Loads, and Diversity
The Numbers:
- The financial and business services sector faces the biggest skills gaps, with an estimated deficit of 10.7 million workers by 2030
- The U.S. national average across all industries and employer sizes fluctuates between 30 and 40 reqs per recruiter
- 78 percent of talent leaders view diversity as a top trend that is shaping the future of recruiting
Wage Pressure & Skill Shortages Impact Tight Labor Market
The Numbers:
- A tight labor market and skills shortages cause challenges for employers paying minimum wage, as they experience difficulties hiring people
- Source: Federal Reserve Board
Flexibility is Critical for Retail Employees
The Numbers:
- Collaborative hiring strategies, sharing a skilled talent pool, and using apps with on-demand staffing technology allowing workers to choose their schedules are some tactics adopted by retailers when hiring
- Source: ManpowerGroup
Low Unemployment Not All It’s Cracked Up to Be
The Numbers:
- While the U.S. unemployment rate remains low, many of the open jobs are low-paying
- 44% of the U.S. workforce between the ages of 18-64 have ‘low wage’ jobs, a median annual salary of $18,000
- Source: The Brookings Institution
Talent and Skills Shortage Impacting Next Decade
The Numbers:
- 59% of workers are optimistic about how technological advancements will impact their careers in the next ten years
- Talent shortfalls in cybersecurity are a concern as 18% believe the ‘cybersecurity skills gap will be mostly or entirely filled during the upcoming decade.’
- 81% of respondents said, ‘companies aren’t investing enough in the people skills needed to navigate technological change’.
- Source: ISACA
U.S. Private Sector Adds 67,000 Jobs in November
The Numbers:
- 67,000 U.S. nonfarm, private-sector jobs were added in November
- This gain is severely below the 156,000 jobs that were forecasted
- Source: ADP National Employment Report
Almost Half of U.S. Companies Increasing Year-End Bonuses
The Numbers:
- 76% of U.S. companies offer year-end bonuses
- 48% of those plan to increase these bonuses
- Another 48% plan to keep them the same
- 52% of workers expect a bonus this year
- Source: Robert Half International