CPG Employers Plan a 10% Wage Increase
The Numbers:
- Consumer packaged goods employers forecast an average wage increase of 10%
- This data is from over 500 decision-makers surveyed within the beauty, wellness/personal care, alcohol, food and non-alcoholic drinks, and cannabis industries.
- Source: ForceBrands
Economists Raise 2019 Job Growth Forecast
The Numbers:
- Projections for the annual average level of nonfarm payroll employment now suggest job gains at a monthly rate of 191,800 in 2019 – an increase over the previous estimate of 181,900
- Conversely, in 2020 the forecast of new jobs falls to 123,200 monthly
- Source: Federal Reserve Bank of Philadelphia
U.S. Experiencing Widespread Talent Shortage
- January 2019 had 7.9 million open roles with only 6.5 million workers looking for a job
- This marked the 11th consecutive month of more open jobs than there are workers to fill them
- Source: U.S. Department of Labor
Almost Half of Workers Quit Due to Higher Expectations
The Numbers:
- 48% of workers left a job due to it not living up to their expectations
- 59% cited job responsibilities differed from their expectations
- 42% stated the working environment caused them to leave
- Source: ThriveMap
Overwhelming Majority of Employers Have Taken Steps to Combat Talent Shortage
The Numbers:
- 93% of employers are actively addressing the talent shortage
- 45% of employers stated they have raised pay rates in order to attract and retain talent
- 73% had strong outlooks for their businesses with the top priority being upgrading their employees’ technical skills
- Source: SunTrust
Millennials are HR’s Biggest Challenge
The Numbers:
- 48% of HR professionals report millennials as their largest non-desk work group
- 32% state they are harder than Gen Z, Gen X, and baby boomers to engage
- Source: Speakap
Employers Accepting Under-Qualified Candidates
The Numbers:
- 78% of applicants said they would apply for jobs even without having the required experience
- 84% of HR leaders stated they are willing to hire and train those without the necessary skills
- Source: Robert Half
Labor Shortage Helps Blue-Collar Workers
The Numbers:
- Workers most in-demand are those in-home healthcare, hotels, and restaurants
- As more people pursue college degrees, that increases the workforce growing white-collar careers leaving these industries with many open roles
- Source: Marketplace
The Numbers:
- Hiring to continue to be strong in Q2, especially in industrial sector
- 80% of employers plan to hire in Q2
- 39% plan to hire general industrial labor
- 33% plan to hire skilled industrial labor
- Source: Express Employment Professionals
Curating a Stellar Candidate Experience is Worth Effort
The Numbers:
- 70% of job seekers reported positive recruiting experiences including enjoyable conversations and salary transparency
- Negative experiences included lack of respect for the candidates’ time, inaccurate job descriptions, and inadequate communication
- Source: Indeed
Pay is Biggest Obstacle to Attracting Tech Talent
The Numbers:
- 24% of IT decision-makers cite an ‘inability to present competitive compensation packages to candidates’
- 22% reported speed to hire as an obstacle
- 15% stated brand awareness was an issue
- Source: Robert Half Technology