BountyJobs Bites
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