BountyJobs Bites
75% of Hiring Managers are Too Indecisive
The Numbers:
- Three-quarters of hiring managers are indecisive, causing low-quality hires and longer time-to-fill rates
- Hiring managers that make decisions via a shorter timeframe hire 10% more higher-quality candidates and hire 11% fewer lower-quality candidates with decreased time-to-fill rates by 17%
- Source: Gartner
Majority of IT Hiring Stakeholders Leverage Text for Candidate Outreach
The Numbers:
- 67% of IT decision-makers in hiring use text as a means to schedule interviews with job candidates
- 48% of U.S. workers polled have received a text message from a potential employer
- Source: Robert Half Technology
California Recruiting Doctors by Paying Off Their Medical School Debt
The Numbers:
- Doctors in California who commit to devoting 30% of their caseloads to Medi-Cal patients for five years will have their medical school debt paid off by the state
- California will spend $340 million to pay off these school loan debts via Prop 56 tobacco tax revenue
- Two-thirds of physicians across the U.S finishing their training have said they have been contacted more than 50 times by recruiters
BountyJobs Reports: Cognitive Dissonance Series: The Real Impact of Artificial Intelligence on Talent Acquisition
The Numbers:
- 91% of U.S. job candidates feel that applying for jobs is more efficient when technology, including AI, is a part of the process
- A whopping 93% of employers in the U.S. and U.K. see AI as a priority for their business and have projects planned around it
- Almost half (47%) of employers believe that integrating such new technology will require their employees to learn new skills
- Source: BountyJobs
Amazon to Invest $700 Million to Upskill Employees
The Numbers:
- The company has pledged $700 million to train 100k U.S. employees for the ‘fastest-growing jobs of the future’
- One in three of Amazon’s U.S. workers will be prepared for both high-tech and non-tech jobs by 2025
- Source: Amazon
Managers Consider Temp Experience Equal to Full-Time Work
The Numbers:
- 71% of managers stated they consider job-seekers with consistent temporary work experience as equal to those with full-time job experience
- 35% were ‘neither more or less open’ to hiring contingent workers when filling full-time permanent positions
- 21% were ‘much more open’
- Source: Accountemps
Wages Continue to Grow for SMB
The Numbers:
- Despite a 1% decrease in job growth for small business year over year, wages increased 2.65%
- This insight points to the possibility that to lure and retain workers in the tight market, employers need to push wage gains
- Source: Paychex/IHS Markit Small Business Employment Watch
Almost Half of HR in Tech Say AI Will Bring in More Jobs
The Numbers:
- 47% of HR leaders in the tech industry think AI technology will create more jobs than it will replace
- 42% of CEOs for tech companies plan to upskill most of their workforce within the next three years
- Source: KPMG
Facebook Prioritizing Minority STEM Hires
The Numbers:
- Over the next five years, Facebook is looking to have at least 50% of its workforce represent minority groups in STEM
- This move would double the number of female employees globally as well as those in the U.S. that are African-American and Hispanic by 2024
- Source: Facebook
Young Workers More Likely to Pick Up a Second Job
The Numbers:
- 50% of Generation Z workers stated they are supplementing their income with a second job, compared to 28% of workers overall
- 44% said their mortgage, rent, household utilities, and other living expenses were growing quicker than their annual salaries
- Source: Randstad U.S. and Apartment Guide
‘Electronically Mediated Work’ Triples
The Numbers:
- The amount of U.S. workers doing electronically mediated work (for example working with online companies such as Upwork), has tripled over the past five years
- Income from this work accounts for less than 1% of totally income
- 5% of U.S. households earned some income from such work between April 2017 and March 2018, which is three times higher than between October 2012 to September 2013
- Source: National Council on Compensation Insurance
Gen Z Considering Manufacturing for Employment More than Other Groups
The Numbers:
- Those in Generation Z are more likely to consider a job in manufacturing than the general population by 7%, with 27% stating it’s a possibility
- As a comparison, though, 56% of Gen Zers are interested in working in tech
- Source: Leading2Lean
Majority of IT Hiring Stakeholders Leverage Text for Candidate Outreach
The Numbers:
- 67% of IT decisions makers in hiring use text as a means to schedule interviews with job candidates
- 48% of U.S. workers polled have received a text message from a potential employer
- Source: Robert Half Technology
Employers Relaxing Hiring Demands Due to Tight Labor Market
The Numbers:
- 37% of employers have relaxed job requirements for temp workers in order to compete for talent
- 72% of those employers loosened the requirements in the past year
- Almost half of employers who relaxed or planned to relax requirements did so due to not being able to find enough qualified candidates
- Source: Adecco USA
Kohl’s Holiday Hiring Has Begun
The Numbers:
- 500 Kohl’s stores have started an early wave of seasonal hiring for back-to-school and holiday seasons
- Broader holiday hiring will begin in August including 3,000 associated to fill omnichannel and customer service roles in stores as well as staffing for five new stores opening in the U.S. in the fall
- Source: Kohls
Employers Risk Higher Turnover Rates without Pay Transparency
The Numbers:
- 26% of U.S. employees would quit their job for pay
- Only 6% of HR leaders think competitive pay is the reason workers leave
- Employers can’t afford to not be transparent about pay without risking higher turnover rates
- Source: Mercer
Median Weekly Earnings Up in U.S. for Q2
The Numbers:
- Median weekly earnings rose 3.7% to $908 for the 117.6 million full-time wage and salary workers in the U.S. for Q2 compared with Q2 of last year
- Full-time workers aged 25+ without a high school diploma had median weekly earnings of $588, compared with $751 for high school graduates (no college), and $1,357 for those with at least a Bachelor’s degree.
- Source: U.S. Bureau of Labor Statistics
Labor Markets Continue to Tighten
The Numbers:
- Labor markets remained tight across the U.S. with employee compensation growing at a ‘modest-to-moderate’ pace
- The market is being described by some as the “toughest market I have ever seen
- Worker shortages are being reported overall, but especially within construction, IT, and healthcare.
IT Jobs Creep Up for Third Month in a Row
The Numbers:
- IT employment increased by .02% in June from May to more than 5.3 million U.S. jobs
- Year over year, the number of IT jobs in the U.S. rose by just .07%.
- Source: TechServe Alliance
