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What Job Seekers Want
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In a tight labor market, intense hiring competition is the only guarantee. Where will you find tomorrow’s talent and how will you retain the best? ...

In a tight labor market, intense hiring competition is the only guarantee. Where will you find tomorrow’s talent and how will you retain the best?

This on-demand webinar provides an unprecedented look at the factors influencing people's desire to change jobs. See where they're headed and get new insights to gain an edge in the fight for talent.

Based on the first in-depth research to examine how employees search for jobs before they make a job move, we'll cover:

-Talent supply vs. competition
-How salary and training affect job satisfaction
-What's motivating people to seek new occupations
-Opportunities to find hidden pockets of quality candidates

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What Job Seekers Want Presentation Transcript

  • 1. What Job Seekers Want Indeed Hiring Lab
  • 2. Tara Sinclair, PhD @tarasinc @indeed #indeedwebinar Indeed Economist and Associate Professor at George Washington University
  • 3. A global research institute committed to advancing the knowledge of human resource and talent management professionals worldwide. Our research agenda includes large-scale labor research projects, ongoing tracking and analysis of employment trends, and surveys of industry professionals.
  • 4. The US labor market is weak…
  • 5. The US labor market is weak… but talent is still hard to find.
  • 6. Unemployment may be lower than we think… Source: U.S. Bureau of Labor Statistics 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 1992 1996 2000 2004 2008 2012 Less than a High School Diploma, 25 years and over High School Graduates, No College, 25 years and over Some College or Associate Degree, 25 years and over Bachelor's Degree and Higher, 25 years and over
  • 7. Employment to Population Ratio 55% 56% 57% 58% 59% 60% 61% 62% 63% 64% 65% 1950 1960 1970 1980 1990 2000 2010 The most dramatic graph of the US labor market today Source: U.S. Bureau of Labor Statistics
  • 8. Even the college educated aren’t working. Employment – Population Ratio – Bachelor’s Degree and Higher, 25 years and over (BLS) Percentage 72 73 74 75 76 77 78 79 80 1992 1997 2002 2007 2012
  • 9. Labor market analysis reports actual job movements that have occurred in the past
  • 10. Unlike other markets, labor is a dynamic market, where the supply – people – makes choices
  • 11. What data do we have that could tell us what people will do next?
  • 12. Now research on what people Search for before they make a job move
  • 13. A sample month of job search activity by currently employed US job seekers 430,000
  • 14. Analyzed according to standard occupation categories 23
  • 15. Architecture and Engineering Arts, Design, Entertainment, etc. Building and Grounds Business and Financial Operations Community and Social Services Computer and Mathematical Construction and Extraction Education, Training, and Library Farming, Fishing, and Forestry Food Preparation and Serving Healthcare Practitioners Healthcare Support Installation, Maintenance, and Repair Legal Life, Physical, and Social Science Management Military Specific Office and Administrative Support Personal Care and Service Production Protective Service Sales and Related Transportation and Material Moving
  • 16. Then we had the data to compare occupations Desirability Satisfaction Opportunity Salaries Education
  • 17. And answer some interesting questions. 1 Are people searching in their own occupation? 2 What makes occupations attractive? 3 What factors cause people to change occupations?
  • 18. Occupations vs. Industries Computer and Mathematical Retail Education Hospitality Industry Classification Occupational Classification Web Developer Network Engineer Software Engineer
  • 19. What did we find?
  • 20. searched in an occupation category other than their current occupation 81.5%
  • 21. Architecture and Engineering Arts, Design, Entertainment, etc. Building and Grounds Business and Financial Operations Community and Social Services Computer and Mathematical Construction and Extraction Education, Training, and Library Farming, Fishing, and Forestry Food Preparation and Serving Healthcare Practitioners Healthcare Support Installation, Maintenance, and Repair Legal Life, Physical, and Social Science Management Military Specific Office and Administrative Support Personal Care and Service Production Protective Service Sales and Related Transportation and Material Moving
  • 22. Only 43.5% of employed job seekers search in their own occupation category
  • 23. The highly paid search in their current occupation Healthcare Support Healthcare Practitioners Legal Management 80% 70% 60% 50% 40% 30% 20% 10% 0 $40,000 $60,000 $80,000 $100,000 Average Salary Satisfaction Architecture & Engineering Education Food Prep Arts & Design $20,000 Production
  • 24. The highly specialized stay put Healthcare Practitioners and Technical Healthcare Support Office and Administrative Support Architecture and Engineering Business and Financial Operations Computer and Mathematical Life, Physical, and Social Science Education, Training, and Library Sales and Related Personal Care and Service 0 20% 40% 60% 80% Source: Indeed Hiring Lab
  • 25. Salary drives retention Salary explains 30% of occupation satisfaction Salary explains 2% of occupation desirability
  • 26. Job supply drives interest Over 51.4% of the variation of desirability can be explained by the share of job postings.
  • 27. All occupations have outside interest Office and Administrative Support Management Business and Financial Operations Production Healthcare Practitioners Transportation and Material Moving Arts, Design, Entertainment, etc. Education, Training, and Library Computer and Mathematical Life, Physical, and Social Science Architecture and Engineering Food Preparation and Serving 0.0% 5.00% 10.00% 15.00% 20.00% 25.00% People from outside searching within an occupation Source: Indeed Hiring Lab
  • 28. Mismatch extends beyond STEM Share of Job Postings/Share of Experienced Job Seekers Computer and Mathematical Architecture and Engineering Healthcare Practitioners Installation, Maintenance, & Repair Food Prep Grounds Cleaning & Maintenance Management Business and Financial Operations Personal Care & Service Sales & Related Healthcare Support 0.0% 5.00% 10.00% 15.00% 20.00% 25.00% Source: Indeed Hiring Lab
  • 29. Flexible work attracts the highly skilled “Part time” is one of the top ten search terms used by people currently employed in STEM occupations.
  • 30. 23 standard occupations are profiled in the full report Architecture and Engineering Arts, Design, Entertainment, etc. Building and Grounds Business and Financial Operations Community and Social Services Computer and Mathematical Construction and Extraction Education, Training, and Library Farming, Fishing, and Forestry Food Preparation and Serving Healthcare Practitioners Healthcare Support Installation, Maintenance, and Repair Legal Life, Physical, and Social Science Management Military Specific Office and Administrative Support Personal Care and Service Production Protective Service Sales and Related Transportation and Material Moving
  • 31. More analysis and data is available in the full report
  • 32. How can you use this data? 1 Opportunities to recruit for skills, not occupation 2 Expand your talent pool with career changers 3 Consider training and flexibility as a way to attract and retain talent
  • 33. @tarasinc Indeed Economist and Associate Professor at George Washington UniversityTara Sinclair, PhD Web: indeed.com/hire Blog: blog.indeed.com Social: @indeed, facebook.com/indeedjobs