What Industries Are Having The Most (And Least) Success In Hiring?

Did you know that 23% of people working in retail plan or hope to leave their current employer within the next six months? And only 33% of retail workers state that they plan or hope to stay in their current roles over the next six months. As you can see, millions of American workers are feeling restless with their current jobs as they scramble to find new work opportunities. Here’s a glimpse into the minds of employees when it comes to increasing your success in hiring.

Will Increase In Pay Make A Difference For Success In Hiring Retail?

Added workplace stress with an increase in foot traffic are just a few of many reasons why retail workers are making the shift in their careers. Another factor is that several retail stores offer only part-time hours each week. With employees not being able to sustain a reliable income, the best option for many is to make the job shift. 

In response, leading retail companies have been offering a sizable pay boost in order to attract candidates and provide an incentive for current employees to stay. Target is even offering up to $24 per hour in contrast to other competitors offering below $15. 

Recreation, Travel & Art Industries Success In Hiring

Retail is not the only industry where employees are feeling a high level of restlessness but industries such as the recreation and travel industry and art industry are encountering a similar issue with employees wanting out.

Recreation & Travel Industries: Within the recreation and travel industry, only 37% of employees are planning to stay in their current role and 19% of employees are planning to leave.

Art Industry: The art industry is experiencing an identical phenomenon where 38% of employees are planning to stay in their current jobs while 19% are planning to leave. 

Design, Transportation, Logistics, Consumer Goods & Entertainment Industries: Notable industries such as the design industry, transportation and logistics industry and entertainment industry are expected to retain only 41% of employees. While the consumer goods industry is expected to retain only 39% of employees in their current positions. 

While 69% of employees are hoping for better compensation or benefits when considering a change of employment, this demand is especially seen within the hardware and networking industry with 79% of employees wanting more compensation or benefits, the entertainment industry at 76% as well as the media and communications industry at 75%. 

Can You Get Success In Hiring By Offering Opportunities Or New Skills?

On the other hand, 49% of employees state that a key factor in switching employers and positions provides them with an opportunity to learn or practice new skills or expertise. This is most prevalent with employees working in the wellness and fitness industry at 65% and the recreation and travel industry at 57%. 

Other employees are considering the switch due to a misalignment with their interests or values. Where 53% of potential U.S. job switchers are looking for a new employer that offers better alignment with their interests or values. This is most sought after by employees working within the recreation and travel industry at 61%, the wellness and fitness industry and entertainment industry at 60%. 

Real Estate Is King When It Comes To Employee Retention!

Despite this, the industry with the highest employee retention is the real estate industry where 54% of respondents say they plan or hope to stay in their current jobs in the following six months. Of which, only 12% state that they plan or hope to make a switch.

The reasoning behind a high retention rate for real estate agents is due to their success in the current housing market. Real estate agents are able to generate high earning power in a time where sustainable income is difficult to attain. In addition, real estate agents have the ability to work on-site or remotely which provides an appeal with the integration of hybrid work as a workplace custom. 

Contact us to discuss our recruitment services to help you with your success in hiring.

VIRTUAL JOB FAIRS (Diversity)

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Have You Identified Your Hiring Strategies Right Now?

According to the State of U.S. Hiring Survey of more than 2,300 senior managers, 65% of respondents anticipate their company adding new permanent positions in the first half of 2022. 

As businesses start to reopen and consumer demand rises, majority of businesses have been placing efforts in substantially expanding their workforce this year.

Considering the current candidate-driven market, businesses are facing the challenge of attracting personnel suited for open positions. This has caused recruiters to revisit their hiring strategies in order to find a better way to recruit candidates. One way recruiters are confronting this challenge is through prioritizing their firm’s hiring needs right now. 

All About Timing 

Timing is critical when hiring during the beginning of this year as strategizing, onboarding talent and training employees takes some time. Planning in a timely manner allows businesses to set their hiring budget and goals, pick from a bigger pool of qualified candidates and allows newly hired employees to assimilate quickly into the company. 

One Step Ahead

With several companies planning to hire in the beginning of the year, attaining the top candidate is highly competitive and the time to fill increases as the position remains unfilled. Formulating the hiring strategy as-soon-as-possible allows businesses to be one step ahead of the competition. This provides businesses with the opportunity to dedicate more time and energy towards the hiring process and avoid any candidate miss-outs. 

Hiring the wrong person for the job is a costly and time-consuming setback.

The United States Department of Labor estimates the cost of a bad hire costs up to 30% of the employee’s wages for the first year. On top of that, a bad hire decreases productivity and lowers employee morale; so it is vital for businesses to strategize early. 

Spread The News

It is essential for businesses to get the word out that they’re hiring. Utilizing virtual platforms or recruiting fairs allows businesses to network to a wider range of qualified candidates. Expanding the business’s reach to as many jobseekers as possible increases the diversity of the talent pool as well as the probability of finding the right candidate faster. 

Diversity, Equity and Inclusion 

Diversity, Equity and Inclusion (DEI) serves as an important aspect of hiring.

As a matter of fact, corporations identified as more diverse and inclusive are 35% more likely to outperform their competitors.

Diversifying hires allows businesses to generate new ideas and have different perspectives, increase in innovation, increase in employee productivity and profitability and provide a positive company reputation. 

Contact us to discuss our recruitment services to help you with “Speed Hiring”.

VIRTUAL JOB FAIRS (Diversity)

Consider joining the upcoming area Job Fair. These are multi-profession, multi-industry VIRTUAL EVENTS where recruiters can safely connect live with area talent and maximize their recruiting efforts from the comfort of their own office.
+ Learn more about Virtual Job Fairs here.
+ View the Chicago Virtual Diversity Job Fairs here.

PRIVATE RECRUITING EVENTS

Your Private Recruiting Events are an efficient way to recruit. Qualitfied candidates are sourced, screened, and presented for you to interview.
+ Learn more about Private Recruiting Events here.

SINGLE-COMPANY VIRTUAL HIRING EVENT

Host your own online job fair exclusively for your company.
+ Learn more about Single-Company Virtual Hiring Events here.

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Where Are Employees Choosing To Live Now? [By Industry]

As professionals, the goal of every worker is to strive for the next step in their career. One way to accomplish this is through getting a promotion. Getting a promotion normally comes with it’s perks such as higher pay, more responsibility, and of course, a new job title. Reaching the next step means that the employer is satisfied with one’s work and one’s contribution to the company. From a career standpoint, getting a promotion signifies personal career growth and serves as a milestone which affirms an individual’s success in their field. 

In numerous cases, it is more difficult for individuals to progress in their career as there are several external factors that play in the mix of promotions such as the type of industry and job location. As individuals in certain states in the U.S. and specific industries have hurdles that slow their career progression. Not to mention, getting promotions have been more of a blur due to the pandemic; with businesses having to cut back on capital spending and implementing lay-offs. 

What are the promotion hiring trends per city and industry? What are the in-demand skills for these industries in order to obtain promotion? 

Product Management Industry 

Product managers guide the success of a product and lead cross-functional teams in order to successfully launch a product in the market. Product managers are responsible for managing  all aspects of a product from market conditions to product release to delivery. Their role varies depending on the company and the product. 

Product managers have 149% above national average internal promotion rate where the top regions include Fayetteville, Arkansas, Austin, Texas and Richmond, Virginia. The top skills in-demand for product managers are product strategy and product road mapping. As product managers work closely with the product, it is important for product managers to expert these skills and have a deep understanding of the product they are managing. 

Marketing Industry 

Marketers all share a common goal of generating revenue for a company, brand, or organization. This is possible through the execution of marketing strategies in order to drive engagement, obtain qualified leads, and generate sales. There are several career paths within the marketing field such as specializing in product marketing, social media marketing, and market analysis. 

Marketers have a 94% above national average internal promotion rate where the top regions include New York City, Boston and Austin, Texas. The top skills in demand in the field are digital marketing, email marketing, and content marketing. With the rise of more emphasis on marketing through social media, it is no surprise why the top skills involve social media based marketing skills. 

Program and Project Development Industry

Program and project development managers oversee the more technical parts of a company in contrast to a product manager that works on specific projects. They are responsible for planning, prioritizing and coordinating project development endeavors based on customer requirements. For example, a program and project development manager in the tech industry is responsible for overseeing the launch of a feature in an app or a website. 

Program and project development managers are 51% above the national average when it comes to internal promotion where the top regions include Wilmington, North Carolina, Fayetteville, Arkansas and Raleigh-Durham-Chapel Hill, North Carolina. The top skills for this role include cross-functional team leadership and agile project management. As program and project development managers manage a larger scale of a project, being an effective leader and being highly adaptable allows them to lead more efficiently which ensures a smoother program or project launch. 

Accounting Industry

An accountant’s basic responsibility is to keep track of one’s personal finances or an organization’s finances. Some accountants may vary in specializations and serve different roles in a company’s or an individual’s finances such as being an auditor, a financial accountant or tax accountant. For example, an auditor would evaluate if a company’s financial statements comply with the generally recognised accounting principles. While tax accounts file an individual’s or company’s tax returns. 

Accountants are 47% above the average national average internal promotion rate where the top regions for promotion include Boston, Denver and Chicago. The top skills being sought after are account reconciliation and generally accepted accounting principles. Especially when handling big clients and company finances, account reconciliation and having a comprehensive understanding of the accounting principles is a must in order to display credibility and reliability. 

Human Resources Industry 

Majority of businesses rely on human resource professionals in managing a company’s employees. From recruiting to employee training, human resource professionals are responsible for managing the employee’s lifecycle. Individuals in human resources may specialize in either recruiting, employee benefits, or conflict resolution. 

Human resource professionals have an internal promotion rate 44% above the national average where the top regions for promotion include Fayetteville, Arkansas, Boston and Raleigh-Durham-Chapel Hill, North Carolina. The top skills in-demand in this industry include onboarding, applicant tracking systems, and recruiting. Especially with the great resignation and surplus in job openings, human resource personnel must excel in attaining top-fitted candidates for open roles and recruiting them for the company. 

Business Development Industry 

As a company continues to flourish, the key for a business’s success is their business development. Business development managers are focused on finding the right opportunities for a business to ensure sustained growth. May it be globalization or finding a new line that the business can benefit from, business development managers are crucial in the future of a company’s success in the market. 

Business development managers have a 26% above national average internal promotion rate where the top regions include Fayetteville, Arkansas, Santa Barbara-Santa Maria, California and Chicago. The top skills in demand for business development managers are their ability to strategize and tableau. 

Finance Industry 

Finance professionals range in different roles such as bank tellers, mortgage managers and investment managers. Due to the pandemic, the role of finance professionals has been substantially crucial for several individuals; as customers and clients sought banks and lending institutions for financial support during the declining economy. Employers in this industry are quick to promote existing employees with in-demand roles in order to ensure they are fully staffed during operations. 

Finance professionals have an 18% above national average internal promotion rate where the top regions for promotion include Boston, Wilmington, North Carolina and Pittsburgh. The top skills in demand for finance professionals are financial analysis and finance modeling. Especially when handling an individual or company’s finances, finance professionals must be critical in their ability for financial analysis and financial modeling. 

Sales Industry

Sales serves as a key profitability driver for several businesses and establishments. The industry relies on sales professionals in order to sell their product or service in the market. With a variety of industries and a wide array of products and services, sales professionals may either directly sell to a customer (B2C) or sell from business to business (B2B). 

Sales professionals have a 13% above national average internal promotion rate where the top regions for promotion include Austin, Texas, Santa Barbara-Santa Maria, California and Raleigh-Durham-Chapel Hill, North Carolina. The top skills for sales professionals include account management and cold calling. Sales professionals that work with larger corporations must drive sales and establish good connections with their clients. Being experienced in account management and cold calling are effective tools for sales professionals to do so. 

Consulting Industry 

Consultants provide businesses with advice and expertise in order for the business to improve their performance. They offer advice based on a business’s operations, profitability, management, structure, and strategy. Businesses tend to hire consultants if they lack in-house expertise, need a second opinion or need help with the company’s business model. 

Consultants are 13% above the national average when it comes to internal promotions where the top regions for promotion include Chicago, Boston and New York City. The top skills in demand for consultants are their ability for business analysis and agile methodologies. As some businesses hire consultants during difficult periods, it is crucial for consultants to be experts in analyzing businesses and coming up with agile methodologies. 

Purchasing Industry

The purchaser’s role serves different functions depending on the business’s field and needs. Purchasers are responsible for the procurement process meaning they ensure the process of purchasing production materials, supply of goods and equipment runs smoothly. For example, a purchaser may order clothes from a direct supplier to be sold to customers. Another example would be a purchaser ordering raw materials from a manufacturer for a company’s product. 
Purchasers have a 12% above national average internal promotion rate where the top regions for promotion are in Fayetteville, Arkansas, Columbus, Ohio and Atlanta. The top skills in-demand for purchasers are strategic sourcing and procurement. Specifically with a larger scale of production, purchasers must be proficient in strategic sourcing and procurement in order to ensure a business’s operations flows efficiently.

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How The Pandemic Has Changed The Way Young Adults Enter The Workplace

The impact of the pandemic has undoubtedly caused setbacks and challenges for everyone of all ages. Especially for young adults, the covid pandemic has caused a disruption with the landscape of their young adulthood. Missed graduation festivities, in-person classes, wedding celebrations, missed quality time with friends are just of the few many. Those young adults who are looking into starting their careers face a more complex decision when it comes to their career paths. Young adults entering the job market find it hard to find their footing since they don’t have that much experience with the in-person onboarding, networking, and training that they would have experienced in the traditional process. To add on, young adults are forced to decide based on the external factors around them such as safety, flexibility and their personal fulfilment. This has caused the majority of young adults to shift their expectations and make the most out of the situation. 

Implications Of Remote Work On Young Adults

One of the outcomes of the pandemic that young adults had to adapt to was the implication of remote work. Remote work gave the ability for young workers and for many others to work virtually amidst the pandemic. This gives them the opportunity to earn money, progress their career paths and have more flexibility with their time. According to a Stanford study, remote work has proven to increase workplace productivity by 13%. This is due to less distractions, employees working more hours, and due to a more convenient workplace environment. As businesses look past the pandemic, a statistical study reveals that 51% of young adult respondents want to remain working from home the bulk of the time and 85% of them want full-time remote opportunities. Clearly, there is a demand for a remote work-structure by young adults and the adaptation of remote work will continue to prevail post pandemic. 

Remote Work Can Hold Young Adults Back

On the other hand, working remotely has prevented young adults entering the job market from experiencing water cooler chats, having their own office workspace, and even face to face time with bosses. According to a survey, 40% of college students and recent graduates would actually prefer fully in-person work. Since the demographic is new to the workforce, they miss on crucial experiences that mold them and allow them to progress in their career path. The lack of interpersonal interaction makes them feel disengaged with their work which could result in poorer work output. Despite the benefits and productivity increase remote work provides, younger people are craving to go back to in-person as they desire the interpersonal connection they develop with their co-workers and bosses.

Young Adults Experience Hybrid Work

The solution companies have come up with in order to satisfy workers who want to work from home and those who want to work in the office is the incorporation of hybrid work. The application of hybrid work as the workplace standard allows employees to have the flexibility of remote work while still having human interaction with the office dynamic through in-person work. A hybrid workplace will also allow those young adults who haven’t experienced working in an office to have a seamless transition into the workplace flow. Distinctly, young adults are open to the idea of hybrid work. According to a McKinsey & Company study on workers’ hopes for the future, it states that 18 to 29 year olds are most interested in a hybrid work set-up, working two to three days a week from home, and the rest in an office. Where 48% of the 18 to 29 year olds respondents said they’d prefer hybrid work. With more businesses reopening their offices and the acceptance of the hybrid work structure by young adults, hybrid work could potentially be the future of workplace structure and workplace flow. 

The pandemic has caused young adults to enter and adapt to new workplace dynamics. One of the biggest industry shifts was the implementation of remote work. Remote work has its perks such as workplace flexibility, better work-life balance, safety from the virus and has been proven to increase productivity; but, at the end of the day, young adults still desire the personal connections they develop in the workplace. A hybrid workplace model allows young adults and workers to still attain remote work-flexibility while being able to develop interpersonal relationships at work.

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Is Now The Right Time To Quit Your Job?

Is Now The Right Time To Quit Your Job?

Change is coming and the big shift is right around the corner. With the gravity of the ongoing pandemic, it would make sense for individuals to seek the safer option when it comes to their career — which is to stick with the job they already have. However, people have used this time to reflect on their life priorities and their career. Many have decided that they need to make a career change. This fluctuation has been dubbed “The Big Shift” and “The Big Resignation.” 

During this trend, people are overwhelmingly shifting careers, either from being laid off or choosing to explore a new job. According to Microsoft, more than 40% of the global workforce is considering leaving their current jobs this year. The main motivation includes pandemic-induced burnout and the erosion of work-life balance. Higher salaries, a different role or field, and higher fulfillment of personal life ambitions are primary goals for job changes. 

Should I Quit My Job? 

Keeping your mind open to other job opportunities can help you navigate what you actually want out of your career path. There are times when you may be leaning more on quitting your job, but, instead, it could lead to other changes within your current place of work. This might lead to a new position or an increase in responsibilities.

Ask yourself how you are feeling about your current position. Does your work feel repetitive? Do you feel like you are stuck in your current position, with little chance for advancement? Does your current job match your life priorities? Is your employer’s culture consistent with your values? Quitting your job is a big decision and reflecting on your ambitions could help you have a deeper understanding on what you truly want out of a role. 

What Should I Do If I Decided To Quit?

The worst thing you could do is to burn bridges. When leaving your job, you want to leave a positive impression on your boss and co-workers. Your last actions will often be the most remembered ones, so take care you don’t ruin your reputation at the end. 

You’ll want to maintain good interpersonal relationships with executives and coworkers, because you never know what could happen in your future.Greener pastures might not be as wonderful as you anticipated, so it’s important to keep your options open. You may be in need of a quick return or future recommendation from a colleague at your current location. 

Recruiters and employers often call previous supervisors when evaluating a potential hire. You wouldn’t want a bad few weeks to ruin a future opportunity.

How Should I Tell My Boss?

Aside from the expected two weeks’ notice, your boss should be the first person you inform about your resignation. Schedule a face-to-face meeting and ask what tasks need to be accomplished before you leave. This allows for a smooth transition for your team, which helps you to leave with a good last impression. 

Any feedback you provide in your exit interview should be constructive. An exit interview is not the time to air grievances. Your last day is not the moment to tell your boss how you really feel about them. Be honest about your reasons for leaving, but you don’t need to go into too much detail at the sake of risking relationships.

How About My Co-Workers? 

Word of your resignation will most likely spread around to colleagues. Make sure to tell your closest coworkers first — such as your direct reports and department teammates. Express your gratitude toward them and how they have provided a positive work experience. 

It’s in poor taste to badmouth the company to your colleagues, since you’ll want to be remembered in a good light. Show your support towards them and exchange contact information to keep in touch in the future. 

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