In the third quarter of 2019, we see an increase in the Worker Confidence Index of 11.8 points over the second quarter, bringing the index to the highest level since the study’s inception. Three of the four indices that comprise the study reported higher results in the third quarter.
While the Job Security Index decreased by nearly 3 points from the second quarter to 101.5 points, this is still a high level of confidence. Females reported higher levels of confidence in their job security than males again in the third quarter of 2019, continuing the trend.
The cost of having a bad reputation and brand image can have an impact on your overall candidate pool. 87 percent of employed respondents reported that they would leave their current employer to work for a company with a good reputation. This is compared to the 54 percent willing to leave to work for a company with a bad reputation.
Among those who are willing to join a company with a bad reputation, a pay increase of 46 percent is needed as an enticement. Those who join a company with a good reputation can expect around a 37 percent increase in pay.
While gender has a financial impact on the hiring practices of companies with damaged reputations, baby boomers are the least concerned with corporate reputation. More experienced employees are least likely to take a job with a reputationally challenged company.
When job-seekers begin their job search, there are a number of avenues they explore to find that perfect position. According to bls.gov, in 2018, the number one way active job seekers pursued jobs was through sending resumes or filling out applications, followed by 50% who contacted employers directly and 23.8% reaching out to friends and relatives for work leads. Of the 5.4 million individuals seeking employment, about 14.5% sought the help of a public employment agency and 8% worked with a private employment firm. And naturally, those percentage numbers overlap as people used more than one way to find a job. Those seeking work are taking the steps to make themselves available. But yet, companies continue to feel the effects of a talent shortage, particularly in the skills sets they require.
With over 5 million individuals seeking work, it begs the question: is there really a shortage or is there a breakdown in how companies are finding and connecting with, or in other words, recruiting, their next company star?
Perhaps it is a timing issue, and a new way of thinking may be the answer when evaluating the manner in which we search and connect with talent.
London – 5th November 2019 – Alexander Mann Solutions, the leading global provider of talent acquisition and management services, is pleased to announce the appointment of David Leigh as Chief Executive Officer with effect from 11th November 2019. He succeeds Rosaleen Blair CBE, Founder and CEO, who becomes Chair of the Company’s Board.
Alexander Mann Solutions, founded by Rosaleen Blair in 1996, partners with its clients to deliver value through its outsourcing and consulting services. Over the last 22 years, it has grown to more than 4,500 employees operating in more than 100 countries globally. Acquired by OMERS, the defined benefit pension plan for municipal employees in Ontario, Canada in 2018, the business is uniquely positioned for further growth by delivering a broad range of talent acquisition and management services to clients in the ever-changing future world of work.
Rosaleen Blair said: “I have worked closely with our Board over the last twelve months to identify the right individual to lead our business for the next stage of our evolution, and I am delighted to welcome David Leigh to the Alexander Mann Solutions family as our next Chief Executive Officer. I have great confidence in both David and the phenomenal talent that exists throughout the company. I’m looking forward to supporting him, the Board and the entire organisation in the years ahead. My passion for, and commitment to Alexander Mann Solutions remains as strong now as it has ever been, and I am so proud of everything we have achieved to date. I believe the world of work is going to see seismic change as a result of technological, demographic and cultural shifts. Our role – partnering with our clients to design and maintain dynamic workforces that are true strategic assets in a digitally optimised world – requires us to continue to innovate, embracing new technologies to be an agile partner to our clients. I see my new role as helping David to set strategy and will work closely with our clients to ensure they get the best from Alexander Mann Solutions.”
Acquisition is major investment in predictive analytics and artificial intelligence capabilities.
Orlando, FL and Charleston, SC – October 30, 2019 – Workforce Logiq, a global provider of workforce management software and services to large corporations, has acquired predictive analytics and AI software company ENGAGE Talent. The acquisition will equip Workforce Logiq customers with proprietary benchmarks and real-time intelligence to find, engage, hire, and retain the top candidates in the market faster and more affordably than ever before
“Employers want an edge in hiring and retaining the best talent. In today’s hyper-competitive market, that requires taking a more proactive and intelligence-based approach to workforce management,” said Jim Burke, CEO of Workforce Logiq. “ENGAGE’s data science expertise and proprietary benchmarks provide our customers with an analytical advantage to make better and faster decisions, and a predictive head start to attract and keep the market’s best talent.”
The expectations that surround best-in-class recruiting have shifted dramatically during the first part of the twenty-first century. As recently as a decade ago, an effective recruitment process outsourcing (RPO) relationship was regarded as a ‘service.’ The traditional service level agreements (SLAs) related to time-to-fill, satisfaction surveys, and the link – as opposed to true business outcomes measured by increased sales and margin performance – reduced the partnership to something much more transactional.
But recruiting is complicated, it’s nuanced, it’s fluid. Like any great relationship, provider and client will work better and more closely together when they have a shared mutual interest, and the results will follow.
RPO gainsharing is designed to get the provider and the client working together differently, and more closely. This happens easily when there is mutual investment and commitment to one another, closer communication, and less dancing around each other. The level of business intimacy found in other working relationships, like the CEO with her COO or a manger with his director, is hard to replicate. Gainsharing is a way to drive the kind of intimacy and collaboration that real partners share, as touched upon in this report.
New Castle, DE – October 1, 2019 – XONEX Relocation, a third-party relocation services company, today announced that Laura Matrisciano, CRP, GMS has been named Chief Customer Officer for the company. In this capacity, Laura is now responsible for executive level client relations and retention, as well as growing and managing the sales team.
“I have long admired Laura’s commitment to XONEX, our clients and our people,” said Paige Holden, President, XONEX Relocation. “Her vast industry knowledge and involvement, as well as her ability to build meaningful relationships with prospects and clients alike, offers XONEX the great opportunity to further define our customers’ needs and deliver new, innovative programs that make sense in today’s environment. I’m honored to welcome Laura to our executive leadership team and wholeheartedly look forward to a bright future working together.”
Laura has been a key member of the XONEX team for more than 15 years. Prior to this role, Laura served as a Vice President of Global Business Development for XONEX. Before joining XONEX, Laura owned her own moving and storage company for 20 years, a testament to her entrepreneurial nature.
The global economy is projected to expand 2.8 percent in 2019, less than in recent years due to weaker momentum in developed economies and China.
However, the overall global labor market should remain tight once again with around half (25 of the 49) countries analyzed in this report showing unemployment levels of 5.0 percent or less. This is considered by many economists as at or near full employment, and is about the same as Q1 2019 findings.
In Broadleaf’s “Hiring and Retaining Workers through the Generations” presentation, Carl addresses concerns employers have about Millennials and Gen Z’ers entering the workforce. Many look at these emerging generations as wildly different, but we all have very similar underlying motivations. In this attention economy, it’s increasingly hard to attract and retain talent, but these universal tips will help you gain access to all different types of talent.
Some key takeaways will include:
· We all want similar things
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.
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