Tag Archives: Hiring Trends

Don’t Be “Too Slow” To Hire

Recruiters today are finding themselves in a highly candidate driven market.  In order to hire the people you need, you may be required to adopt different strategies and tactics to effectively attract and hire new talent.

A 2017 recruiting trends report from Top Echelon, based on input from more than 5,000 recruiters, pointed to two key sources of stress for recruiters:

  • Sourcing qualified candidates (35%);
  • Clients who are too slow to make offers (30.8%)

Being too slow to make offers and hire employees is particularly troubling when the most common complaint  is that “there aren’t enough candidates to pick from.”  Clearly, moving quickly to make a hiring decision and extend an offer is critical.

Use Social Media

It’s also critical for employers to have a firm grasp of what appeals to today’s most sought-after candidates. Millennials are projected to make up over half of the workforce by 2020 and they are currently the most sought after employees.  Ashira Prossack, CEO of Millennial Mastermind, a consulting firm that helps bridge the gap between employers and millennials, says that “Companies and recruiters must reevaluate their hiring strategies to attract this younger generation of workers.”  That means moving beyond traditional recruitment methods to connect with candidates on the platforms they use the most.  You need jobs to be posted on multiple social media sites rather than relying exclusively on job boards.  Because this generation lives on their mobile devices, they expect to be able to apply for jobs quickly and easily through their smartphones.  Therefore, creating a mobile-optimized app to maximize recruiting efficiency is a top priority.

For HR professionals, a good starting point for determining the type of adjustments needed is to conduct an internal audit or analysis to determine:

  • Average time-to-hire, by position or job category:
  • Number/percentage of opt-outs or incompletes during online application process;
  • Ratio of accepted-versus-rejected offers and reasons for rejection.

In each of these areas, it can be helpful to analyze results based on various types of jobs, such as by department, by manager, by position, for hard-to-recruit positions, by type of application (email vs. desktop vs. mobile), ect.

Recognizing that time-to-hire is critical in a candidates’ market, anything that HR can do to help streamline the applicant review, interview and offer process can go a long way toward boosting the odds that your most desired candidates are likely to accept your offer.

 

2014 Hiring and HR Trends

 NCMCC 2014 North Central Massachusetts Hiring & HR Trends Survey

August 2014

Welcome to the North Central Massachusetts Chamber of Commerce 2014 Hiring and HR Trends study.  The objecSve of this study was to gauge annual senior level business and non-­‐profit perspectives on emerging hiring and HR trends and issues in our region.

The survey results will assist business and non-­‐profit executives that are navigating the complex challenges of a connected economy, interconnected supply chain partners and customers. In addition, the survey results will suggest how executives are leading their organizational response to the pressure to innovate and lead in this digitally connected world. The results will also assist businesses and organizations as they set compensation and benefits plans. Firms can now compare and contrast their compensation and benefit plans with the results from this survey resulting in a better of understanding of differences from offerings at similar firms.

This study was designed and administered by the North Central Massachusetts Chamber of Commerce (NCMCC) Leadership Council Member and Fitchburg State University School of Business & Technology Professor Mike Greenwood, PhD, in cooperation with NCMCC. Dr. Greenwood also serves on the NCMCC Community Leadership Institute steering committee.

 

David McKeehan President & CEO

North Central Massachusetts Chamber of Commerce

 

NCMCC Research Steering Committee:  Maria McCaffery, Events and Program Manager, North Central Massachusetts Chamber of Commerce

Melissa Glenny, President, Franklin Professional Associates

Michael T. Greenwood, PhD, Professor of Management and Entrepreneurship, Fitchburg State University School of Business & Technology

Keith Lanzilotti, Owner, Well-­‐Being Total Home Care

 

Overview of Hiring and HR Trends Survey Results for 2014

  • The survey respondents were 85% profit and 15% non-­‐profit.
  • 44.2% of respondents reported having 1-­‐10 employees. Greater than 50 employees at 22.1% is second.
  • Generally the outlook for overall region hiring trends is rated as good (36.9%) to very good (21.4%)
  • 69% of businesses reported that they plan to hire new employees in the next 12 months. The raw data based on an aggregate of all responses indicates 222 full time and 228 part time.
  • 17.1% of firms responded that they pay from $10.00 -­‐ $10.99 per hour. Another 17.1% pays greater than $20.00 per hour to start. Only 1.3% paid $8.00.
  • Overall firms were split on the issue of supporting the minimum wage with 51.9% in favor of raising the state minimum wage and 48.1% opposed to raising the minimum wage. For those firms that supported raising the minimum wage (51.9%) the average was $10.76 per hour and the range was $8.25 to $15.00. At the time of the survey the Massachusetts legislature was voting to change the state minimum wage to $9.00 eff. 1/1/15, $10.00 eff. 1/1/16, $11.00. 1/1/17. The legislation was subsequently signed into law.
  • During job interviews the top five most important factors that employers look for in a candidate are Ability to work in a team 4.4,  Creative Problem Solving 4.3,  Confidence 4.1,  Critical Thinking 4.1,  Passion 4.1
    • The business degree was the degree most demanded by employers with 41.9% wanting a Business degree from new hires. Liberal Arts was the second most in demand degree with 11.6% respectively.
    • Company culture is shaped most by ethics (4.6), personal accountability (4.4), having Collaborative Environment (4.2), and purpose and mission (3.9). Least impact was diversity at 3.5
  • The following benefits were offered by 50% of more of participants: 79% offered Medical insurance, 70% Annual salary increases, 66% 401(k) retirement plan, 63% Dental insurance, 61% Long term disability, 61% Life insurance, 60% Casual dress policy, 51% More than two weeks vacation (earned).

To receive a length detailed report of this survey, contact Melissa Glenny at 978-534-2422  or via email to melissaglenny@franklinprofessionals.com.

If you have any questions about this survey please contact the survey administrator, Michael T. Greenwood, PhD. Dr Greenwood can be reached at mgreenwood@mgbcs.com or you may call him directly at 978-660-5647.