How to Excel in Today s Competitive and Crowded Recruitment Environment
Joanie Courtney SVP Global Market Insights, Monster @joaniecourtney
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
LABOR participation temporary assignment HELP WANTED JOB creation GIG FREELANCE SKILL ECONOMY BABY BOOMERS MILLENNIALS shortage WAGES $ S T E M NOW HIRING Work/Life BALANCE
CURRENT EMPLOYMENT SITUATION: OCTOBER 2015 GOVERNMENT +3,000 TEMPORARY HELP +24,500 5.0 % UNEMPLOYMENT RATE +271,000 PRIVATE SECTOR +268,000 Leisure/hospitality +41K Healthcare +57K Professional/ business services +78K Retail +44K Construction +31K Manufacturing -4K TOTAL NON-FARM PAYROLL
CURRENT EMPLOYMENT SITUATION October 2015 +1.5% 7.9M unemployed people in the U.S. $ GDP IN Q3 2015 157M in the US workforce 62.4% labor participation rate 5.5M available jobs
Employers Seek Austin Available jobs at an all-time high since March 2015 Job growth is up 15% year-overyear in September 2015 7 Source: Wanted Technologies Note: Index = 100 as of September 2011
Industry Overview for Austin, TX Industry % Total Aug 15-Sep 15 Change Sep 14-Sep 15 Change Government 18% +3.1% +1.2% Trade, Transportation & Utilities 17% +0.1% +2.4% Professional & Business Services 17% +0.6% +6.7% Leisure & Hospitality 12% -0.5% +4.4% Education & Health Services 12% -0.3% +4.4% Manufacturing 6% -1.2% -0.7% Financial Activities 6% -1.8% +2.5% Mining & Construction 6% +0.4% +1.5% All Other 6% -0.6% +3.2% Total Employment 100% +0.4% +3.2% 8 Source: Bureau of Labor Statistics Note: Austin figures are not seasonally adjusted
Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Unemployment Rates Continue To Drop 10% 8% 6% 4% 2% 0% Austin, TX vs National Unemployment Rate, % 5.0% 3.3% 10% 8% 6% 4% 2% 0% Texas vs National Unemployment Rate, % 5.0% 4.2% National Austin, TX National Texas 9 Source: Bureau of Labor Statistics Note: Austin figures are not seasonally adjusted while Texas and national figures are seasonally adjusted
WAGE GROWTH FLAT 2.5% YoY
TOP 10 OCCUPATIONS FOR JOBS Source: Wanted Analytics and Monster Internal Data
THE POWER SHIFT IN RECRUITMENT
BUILDING A STRONG TALENT BRAND
Talent Brand 16
Rising Importance Of Employer Branding 17 Source: https://hbr.org/2015/05/ceos-need-to-pay-attention-to-employer-branding
Power of a Strong Talent Brand on Social I Hear It s a Great Place to Work! Source: 1. fastcompany.com, 2013; 2. CR Magazine, 2014 18
Most Companies Increasing Their Investment in Employment Branding 19 Source: Jobvite s 2015 Recruiter Nation Survey
Benefits of a Strong Talent Brand Source: 1) workforce.com, 2013; 2) Career Moves, 2014 20
7 7% MOST SAID THE JOB DESCRIPTION WAS THE USEFUL EMPLOYMENT CONTENT 2014 Candidate Experience Awards Survey 2014 MONSTER WORLDWIDE
SOCAIL MEDIA IS A DOMINANT FACTOR
Recruiters currently using Facebook during their recruiting process 1 Recruiters planning to invest more in social recruiting 1 65 % 73 % 1 Jobvite.com
SOCIAL MEDIA JOB SEARCH Occasionally network on social media sites for potential employment opportunities 53% Occasionally review job listings on social media sites for potential employment opportunities 52% Source: Monster Loyalty Survey, November 2014; Note: Surveyed representative sample of adults who work full-time.
WOULD CONSIDER AN OPPORTUNITY FROM Job Seekers Building Trust In Social Media Friend or relative Call from a job recruiter Job ad on a job board/site Company-sponsored social event Industry publication that lists new jobs Trade show or industry conference Job ad on LinkedIn Email offering a job description Job ad on Facebook Job ad on Twitter 65% 54% 50% 49% 46% 46% 44% 41% 29% 24% Source: Monster Loyalty Survey, November 2014; Note: Surveyed representative sample of adults who work full-time.
JOB SEEKING IS A 24/7 ACTIVITY 79% of candidates are likely to use social media in their job search 1 70% of candidates are using their mobile device to find jobs 2 1 Glassdoor Survey, 2014 2 Monster Internal Data 2015
Twitter has nearly 315M+ monthly active users 500M tweets per day On average, over 60K jobs are tweeted each day 35M mentions of Job Search related keywords 80% of users access Twitter on mobile Drive engagement with a targeted audience Reaches diverse audience; millennials, business leaders, influencers Source: Monster Internal Data, 2015; Twitter, 2015
Employer Branding Tips Know your corporate brand and culture Get senior management involved Focus on your current employees Invest in a strong career site Leverage social media Measure your employer brand Source: https://hbr.org/2015/05/ceos-need-to-pay-attention-to-employer-branding; *Universum surveyed 2,000 senior executives in 18 countries from October to December 2014 28
Ways To Measure And Build An Employer Brand 29 Source: Brandemix s Employer Branding Survey 2015
What s Next?
ON DEMAND ECONOMY
ON DEMAND ECONOMY
Workers on Tap?
200 million people who are inactive or part-time could work additional hours through freelance platforms on-demand labor force 3.2 million 7.6 million by 2020 McKinsey Global Institute Intuit study
EMPLOYERS But what about employee consistency and commitment? JOB SECURITY? REQUIRED SCALE? Hire specific skills when needed INCREASING REGULATIONS? Jobs for blue to white collar But what about down time? Benefits and insurance? Wages that are driven down by supply/demand? FLEXIBLE SCHEDULE Minimize salary, insurance and benefit costs EMPLOYEES
ROBOTS AND AUTOMATION
ROBOT DENSITY South Korea 437 AT WORK IN AMERICA Other Plastics/ rubber Japan Germany 323 282 Life sciences Semiconductors Auto parts 35 % U.S. China 152 30 Industrial robots per 10,000 manufacturing employees The Wall Street Journal, Meet the New Generation Robots for Manufacturing, February 2015. Food 6% Metals 29 % Robot orders in the U.S. in 2014 by industry The Wall Street Journal, Meet the New Generation Robots for Manufacturing, February 2015. Auto 29 %
16% OF U.S. JOBS COULD BE AUTOMATED BY 2025 Forrester Research, 8/2015.
GENERATIONS IN THE WORKPLACE
Millennials 25% 36% 45% Generation X 21% 23% 22% 2005 2010 2015 Baby Boomers 31% 38% 45% Source: Bureau of Labor Statistics Employment Projections
US Census GENERATION Z 80 MILLION
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
Choose a job you love, and you will never have to work a day in your life. Confucius 43
THANK YOU