The rate of new technologies being developed and the number of companies providing them are increasing dramatically each year, and the second quarter of 2019 was no exception.
During the second quarter, there were 66 major announcements, up from 57 in the second quarter of 2018. Investment deals in HR technology in the second quarter of this year hit over $560 million dollars.
Employer brand represents who an organization is and what they stand for, setting the stage for the expectations of both current and future employees. For many companies, social media has become a key element in building the employer brand.
The belief in the importance of social media as part of employer brand strategy is nearly universal, with 96 percent of respondents indicating that it is important. However, despite the overwhelming belief that social media is a vital element of an employer’s strategy, there are some doubts over its effectiveness.
Key takeaways from this report include:
The Worker Confidence Index (WCI) in the first quarter of 2019 increased by 3.6 points to 110.7, the highest level since this study’s inception. While three of the four indices that comprise the WCI reported positive results in the first quarter, one index, the Job Security Index reported a quarterly decrease.
On the topic of job stability, the Job Security Index experienced a modest decline, but remains close to the study average. Worker perceptions about the likelihood of a raise increased to an all time high of 113.3. Both males and females continued to feel more confident about getting a raise, with 36.5 percent of males and 25.8 percent of females anticipating a raise of 3 percent at their next review.
The rate of new technologies being developed and the number of companies providing them are exponentially increasing each year and the first quarter of 2019 was no exception.
In total, there were 68 major announcements documented, which almost doubles the 36 announced in the first quarter of 2018. The majority of the announcements were from companies located in the United States, and most were from small or start-up organizations.
Employer branding is of growing importance to organizations as they try to attract top talent in a tight labor market. In this study, respondents were asked to explain their perceptions of the scope of employer brand – whether it is a candidate attraction effort only, or part of a wider engagement initiative.
Nearly nine-in-ten (85%) stated that it is part of a more broad-based initiative, extending to all stakeholders in the business, including from owners, suppliers, customers, and candidates.
Despite knowing the importance of employer brand, most respondents indicated that they still struggle to identify unique points that distinguish themselves from competitors. In addition, only 20% of those surveyed indicated that they have established metrics for measuring the success of employer branding efforts.
In the first quarter of 2019, the global unemployment rate remained low, with around half (24 of the 49) of the countries analyzed in the report showing levels of 5.0 percent or less. Among those, 16 of the 49 countries in the report announced decreases in national unemployment rates since Q4 2018.
The current economic environment worldwide is still precarious. While 2018 was generally positive, growth in the first quarter of 2019 has weakened. On the other hand, the global economy is still benefiting from tight labor markets and has been accommodating towards monetary and policy stimulus in certain countries, such as China, Egypt, India, and the United States.
In this flash report, we take a look at how organizations manage their contingent workforce and how well these practices combine with their Total Talent Management (TTM) model. The Total Talent Management model integrates the full spectrum of workers, from permanent employees to temporary workers, independent contractors, and freelancers.
In the fourth quarter of 2018, 21 of the 49 countries analyzed in this report announced decreases in national unemployment rates since the third quarter. Of the remaining countries, 14 reported increases, while 15 were unchanged. Though 2018 was a generally positive year, there was weakened economic growth in the fourth quarter due to trade tensions remaining high, several developing economies experiencing financial stress, and other economic risks.
Due to the size of the U.S. economy, and its impact on the rest of the world, individual states are also shown in this report. Half (25 out of 50) of states had decreases in unemployment in 2018, with only one state, Colorado, showing a significant increase.
A look at the top findings from our recent studies.
By Larry Basinait
Industry research is core to human capital management and decision-making. That is why the HRO Today research team takes a deep dive into the topics impacting the lives of HR leaders. Here, we share some of the top findings—the full version of the reports can be found here.
Since 2014, HRO Today Magazine and Yoh Recruitment Process Outsourcing have collaborated to produce the Worker Confidence Index: a series of quarterly reports that measures employment security in the U.S. from the perspective of employees. This annual report analyzes 2018 data and examines what forces contributed to the results.
The Worker Confidence Index was 107.1 at the end of 2018, which is a year-over-year increase of 2.6 points from the fourth quarter of 2017. For the year, the Job Security, Likelihood of a Raise and Likelihood of a Promotion indices were higher than in 2017; however, Trust in Company Leadership declined.
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