Six key measurements for driving a D&I program that fosters business impact.
The importance of diversity and inclusion (D&I) has come to the forefront in recent years, with the labor market becoming increasingly competitive and large organizations making substantial investments to their programs. Diversity of all kinds—race, age, sexual orientation—has the power to bring a sought-after advantage to organizations looking to attract and retain today’s best talent.
To read more highlights from Randstad Sourceright’s white paper: “Turn Diversity and Inclusion into a Talent Strength: A Six-Pack Strategy For Driving Measurable Improvements” with commentary from Peter Vermeulen, Head of HR Americas, the Linde Group, click here.
The likelihood of a raise – one of the measurements covered in the Worker Confidence Index – increased between the first and second quarters of 2016.
However, despite an overall increase from the first quarter, the index remains lower than the period one year ago (2Q 2015) in two areas: the likelihood of promotion and the trust in company leadership. Since all four metrics have mostly increased for three consecutive quarters, there is reason for optimism about the third quarter of 2016, though the U.S. Presidential election year does bring another level of uncertainty to the forecast.
There’s much more to learn that can impact HR in the full report here:
Because most large companies have locations worldwide, the need to quickly access international employment levels and trends has never been greater. Worldwide employment rates vary greatly, so incorporating this component of workforce planning is vital to a company’s worldwide staffing strategy.
To accomplish this, Peoplescout is partnering with HRO Today to produce a quarterly summary of international unemployment metrics for key countries in North America, Latin America, EMEA and APAC. The 49 countries represented account for approximately 88% of the worldwide GDP, according to the International Monetary Fund.
Click here to get the full summary with unemployment levels.
The term “gig economy” refers to recent developments in on-demand hiring, especially in the consumer space. “On-demand” technology (usually mobile) matches consumers with independent workers (also referred to as freelancers or gig workers) to address an immediate need. The on-demand provider supplies the technology and facilitates the financial transaction. Uber, Lyft and TaskRabbit are some of the best-known examples of on-demand providers practicing in the gig economy today.
Here is how the transaction model works: The consumer sends out a notice they would like to purchase services, and a gig worker offers an immediate reply. The consumer then selects a gig worker to perform the service. This environment benefits the consumer by greatly increasing access to services and offers immediate opportunity to complete their tasks.
Like consumers, companies are seeking to adapt and apply this transaction model to the business-to-business (B2B) space. They want broader, faster access to talent than offered by traditional contingent-labor staffing. It is a model and a technology in the B2B space with a lot of promise. Many business executives are excited by the opportunities, although they are concerned about the risks associated with consumer “gig” business models. Most important, the technology and the “gig” model are still nascent, creating a competitive advantage to companies that can most quickly master this new space. This white paper provides a high-level overview of the gig economy and explores the benefits and risks for companies and gig workers. Finally, we examine what to look for when selecting on-demand providers.
Since the Third Quarter of 2014, HRO Today magazine and Yoh Recruitment Process Outsourcing joined together and launched an index to measure employment security.
According the U.S Bureau of Economic Analysis (BEA), more than 70 percent of what the U.S. produces is for personal consumption. Since the perception of job security greatly impacts purchasing behavior, there is a need to focus on how individuals perceive their job outlook.
Most existing indices, such as the Consumer Confidence Index, Gallup’s Economic Confidence Index, the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS), and the United States Index of Consumer Sentiment, examine various economic measures with a focus on macro metrics. However, they fail to measure the attitudes of those employed. The Glassdoor Employment Confidence Index focuses on than general perception of the business, job market, or other employees rather than the employee’s personal experience.
With Susan Vitale, Chief Marketing Officer, iCIMS
Talk to hiring managers, and 61 percent say recruiters have a “low” level of understanding of the jobs for which they’re recruiting. Talk to recruiters, and 80 percent believe they have a “high” to “very high” understanding of those same jobs.
Further, 80 percent of hiring managers say recruiters inadequately screen candidates. And hiring managers consistently complain recruiters do not have an adequate talent pool to draw from when they have to source frequently filled positions. Result: Real frustration among hiring managers and recruiters alike.
That’s according to Susan Vitale, Chief Marketing Officer of iCIMS. Susan recently offered her insights on hiring manager experience.
Geometric Results, Inc.’s (GRI) Talent Cloud Solution takes guesswork out of timing contingent labor need, boosting performance across the board, says Brandy Cline, client services executive at GRI
There’s a broadly applicable rule of thumb in business: “It can be good. It can be cheap. It can be quick. Pick any two.” That was true for contingent labor until the talent cloud came along. Talent clouds allow companies to create cloud-based virtual benches so there are qualified candidates ready when a contingent labor need arises.
Because the talent cloud relies on automation, it cuts out some manual recruiting effort, which reduces price. Geometric Results, Inc. (GRI), an MSP partnering with talent cloud technology provider Genesys, is able to offer their clients a reduction in the usual markup for contingent labor to levels below the typical 40%. And it works – in its first few months, the GRI/Genesys partnership has delivered these results to their joint clients:
It’s your personal talent guru working side-by-side with you to conquer your talent needs
RPO has been around for years. Industry leaders see RPO as a competitive advantage and rely on their providers to recruit and hire their much needed talent. Karen Browne, President and COO of EG Workforce Solutions, sees the relationship between companies and vendors evolving constantly.
Since the Third Quarter of 2014, HRO Today magazine together with Yoh Recruitment Process Outsourcing has been producing an index to measure U.S. employment security from the perspective of employees.
There are multiple indices that look at attitudes about the economy, such as the Consumer Confidence Index, Gallup’s Economic Confidence Index, BLS Job Openings and Labor Turnover Survey (JOLTS) or United States Consumer Sentiment. However, these measures focus more on macro metrics, with much less emphasis on attitudinal measures of those employed.
The focus of the Worker Confidence IndexTM is measuring perceived employment security. According to the U.S. Bureau of Economic Analysis (BEA), more than 70 percent of what the U.S. produces is for personal consumption. Since the perception of job security greatly impacts purchasing behavior, there is a need to focus on individuals attitudes about their job outlook.
U.S. businesses are using greater percentages of contingent workers to meet their staffing needs. These contingent workers are not only more prevalent, they are often used in highly skilled, mission-critical positions. However, that entails risk for the corporation including rising compliance costs. Those organizations that manage contingent labor effectively will find themselves in a better position to win the war for talent.
The traditional best practice is a Managed Service Provider (MSP) using a Vendor Management System (VMS). Historically, companies have picked a staffing firm to manage the contingent labor program. Problem: A MSP may be biased in favor of their own staffing services, and thus miss opportunities other staffing firms may offer to access the best talent. That has led to a new best practice: a purely vendor-neutral and integrated contingent workforce management model.
This paper will highlight how a purely vendor-neutral, integrated MSP and VMS model can successfully identify, source, track and manage professional contingent workers around the globe.
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