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Younger Workforce Assume Quick Raises
The Numbers:
- About 50% of workers 54 and under expect a raise or a promotion each year
- Only 12% of baby boomers have these expectations
- 17% of workers under 34 years old stated they think their company’s employees have a fair shot at advancement
- Source: Clutch
Optimism from Small Business Owners for 2020
The Numbers:
- Small business owners expect revenue to increase within the next year
- 24% ‘expect to face challenges related to controlling costs’
- 18% expect to face challenges related to finding qualified employees
- Source: CNBC and SurveyMonkey
Talent Shortages and Tech Adoption Top Concerns for Execs
The Numbers:
- More companies are adopting tech solutions but 50% of those are struggling with ‘rapid tech development’
- 46% of employers say their workforce will increase in size
- 59% stated they expect to face a labor shortage within the next two years
- Source: Ceridian
BountyJobs Reports – Year in Review: Talent Acquisition in 2019 and the 2020 Impact
The Numbers:
- A whopping 43% of professionals plan to look for a new job over the next 12 months
- The majority of employers, 61%, planned to raise wages in 2019, which was up from 48% in 2018. What’s in store for 2020?
- Manufacturing saw consecutive increases in employment for over 18 straight months, the longest stretch since the mid-1990s. However, around 90% of manufacturing
companies couldn’t fill all of their open roles.
Strong Job Growth to Continue
The Numbers:
- “The Employment Trends Index increased in November, suggesting solid job growth will continue in the coming months,” said Gad Levanon, head of The Conference Board Labor Market Institute. “Recently published indicators held on better than expected, suggesting that businesses are less cautious than expected and that economic growth will remain solid, despite a very tight labor market and declining corporate profits.”
- November’s index level rose to 110.18, up from October’s index level of 109.96
- Source: The Conference Board Labor Market Institute
Millennial and Gen Xers Expect Employer Investment
The Numbers:
- Temp workers within the Millennial and Gen X groups value ‘their employers’ investments in them more than baby boomer workers’
- The investment-performance relationship is between the worker and the client company rather than the staffing firm
- Source: Professor of Management at Bucknell University
Skills Gap Impacts All Skill Levels
The Numbers:
- 32% of employers find it challenging to fill low-skill positions
- 46% have a hard time finding workers for middle-skill jobs
- 35% can’t find workers for high-skill jobs
- Source: TrueBlue Inc.
Gig-Work ‘Hiring Spree’ On Its Way
The Numbers:
- The U.S. Census Bureau will be looking for 500,000 part-time and temp workers for the 2020 decennial Census
- The jobs will range between $13 and $30 per hour
- Source: Quartz
Recruitment Process Matters When Candidates Weigh Offers
The Numbers:
- While salary is the most influential factor, the quality of the application and recruitment process is a big consideration for candidates when reviewing offers
- More than 50% of job seekers stated ‘it should take between one to two weeks following a first interview to receive a job offer from an employer.’
- Conversely, the average time-to-hire was 38 days in 2017 – about 5.5 weeks on average
- Source: Zety
AI Apps in Screening Process Not Desirable for Candidates
The Numbers:
- 88% of workers would not be comfortable with using an interview app that leverages AI for candidate screening
- 55% would prefer an in-person interview
- 48% don’t trust AI to be accurate with the human side such as emotions and cues with accuracy
- Source: The Harris Poll for Yoh
Hiring Plans in U.S. Stable for Q1 2020
The Numbers:
- 22% of U.S. employers plan to increase hiring in Q1 2020
- Only 5% planned to decrease their hiring
- Source: Manpower Group
Blue-Collar Jobs Requiring a Degree
The Numbers:
- U.S. manufacturers are requiring that workers have college degrees more now than previously
- New roles that employ advanced skills are part of the reason for the push on higher education levels
- The number of manufacturing employees with degrees will outnumber those without degrees within the next three years
- Source: Wall Street Journal
In 2020, IT Hiring Will Leverage Interim Professionals
The Numbers:
- The majority of employers tech talent strategies for 2020 include interim hires
- 96% were ‘more likely to employ interim professionals next year’
- 60% of those already includes project-based workers in their strategy
- Source: Robert Half
Almost Half of Employers Looking Forward to Strong Market for College Grads in 2020
The Numbers:
- The college graduating class of 2020 is expected to enter a robust job market
- Almost 50% of employers rate the job market as ‘very good’
- Employers rated the job market for 2019-20 graduates:
- Excellent: 9.8%
- Very good: 48.2%
- Good: 34.8%
- Fair: 7.1%
- Poor: 0.0%
- Source: National Association of Colleges and Employers
Talent Shortages, Healthcare, and Diversity Top HR Challenges for New Year
The Numbers:
- Some of the most difficult challenges facing employers in 2020 are finding high-quality applicants, preparing for the future of healthcare (Affordable Care Act), and managing diversity
- 30% of HR professionals saw recruiting and hiring as the top challenge
- 9% are extremely challenged when trying to find high-quality candidates
- Source: XpertHR