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2011 Boston Job Market Condition Report

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The Boston Job Conditions Report offers a comprehensive view of the Boston job market. This study highlights online job postings and candidate resume activity across Boston and focuses on Boston …

The Boston Job Conditions Report offers a comprehensive view of the Boston job market. This study highlights online job postings and candidate resume activity across Boston and focuses on Boston professionals and recruiters looking to hire Boston talent.

Gain insight on online recruitment trends, supply and demand conditions, and how job seeker characteristics mesh against employer needs. Plus, see what Boston professionals reveal about their careers in Boston, job search obstacles, and most valued skills and qualifications.

This report provides:

* An overall look at Boston supply and demand, together with a comparison of job seeker characteristics and employer requirements
* A look at recruiters and hiring managers and their plans for acquiring Boston talent in 2011
* Insight on Boston professionals and their careers, job search obstacles and valued qualifications and skills

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  • 1. LOCAL MARKETBOSTON2011 JOB CANDIDATESInsights and Analysis from Professionals,Recruiters and Hiring ManagersBrought to you by Monster Intelligence
  • 2. 2BOSTON – 2011 JOB CANDIDATESBoston professionals should find an improving economy and labormarket in 2011. Major components of Boston‟s labor force include jobsin Education and Health Services, Technology, and Finance, each ofwhich is reporting encouraging trends.The Federal Reserve Board‟s March 2011 Beige Book reportedBoston‟s economic outlook for 2011 is “positive, with firms in mostsectors expecting either steady or improved growth in demand for theirproducts and services.” Most recently, staffing firms reported increaseddemand particularly in Manufacturing, Information Technology, Legal TABLE OF CONTENTSand Medical Sectors, as well as strengthening conversions oftemporary to permanent workers. Hiring Talent in 2011 3 Boston Talent 3Overall, Boston‟s employment picture is moving in a positive direction Career Talent 4yet will continue to experience bumps and take time to fully recover. Education Talent 4Employers will remain cautious and keep budgets constrained until Experienced Talent 4confidence and economic performance is restored. Job Search Conditions 5Monster leveraged more than 898,000 Boston resumes coupled with Market Conditions 6online job postings for Boston talent in order to gain insight into Market Overview 6candidates and employers. Data is current through February 2011 Unemployment Rate 8unless otherwise noted. Additionally, Monster surveyed professionals, Payroll Change 8HR professionals and hiring managers to present a snapshot of activity Online Recruitment Trends 9within Boston. The surveys were conducted between November and Recruitment Activity 10December 2010. Hiring Conditions 11 Supply and Demand Analysis 12 Labor Performance Matrix 14 Career Level Requirements 16 Education Level Requirements 16 Experience Requirements 16 Job Type Requirements 17 Job Status Requirements 17 Qualifications and Benefits 18 Compensation 19 Conclusion 20 Monster Intelligence 20Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 3. 3HIRING TALENT IN 2011Boston Talent SkillsThe following data analyzes the supply (resumes) of Listed in the chart below are the top skills madeBoston professionals on Monster. It provides a current available by Boston candidates on their Monsterpicture of available Boston talent. accounts. Microsoft Office products top the list followed by Communications and Leadership, theListed below are the top ten Boston occupations in two most popular soft skills.supply and their share of volume. These occupationsaccount for 86 percent of Boston‟s talent. Management - 22% Office and Administrative Support - 21% Computer and Mathematical - 11% Business and Financial Operations - 8% Sales and Related - 6% Architecture and Engineering - 4% Life, Physical, and Social Science - 4% Arts, Design, Entertainment, Sports, and Media - 4% Healthcare Practitioners and Technical - 3% Installation, Maintenance, and Repair - 3%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 4. 4The charts below give a detailed profile of Boston talent found on Monster including career experience, education leveland work experience. Boston candidates found on Monster are typically Mid-Career with at least a Bachelor‟s Degreeand more than fifteen years of experience.Career Talent Career LevelForty-five percent of Boston job seekers in 2011 are Mid-Career. Thirty-four percent are Managers or above while 21 Student Executivepercent are emerging into today‟s workforce. Entry Level 8% 6% 13% Manager 28% Mid Career 45% Education LevelEducation Talent CertificationFifty-seven percent of Boston job seekers have at least a -Vocational Masters orBachelor‟s Degree. Twenty-five percent have an Associate 6% AboveDegree or some college experience. High School 18% 12% Associate/ Some- College 25% Bachelors 39%Experienced Talent Years of Work ExperienceThe majority (24 percent) of Boston job seekers have morethan fifteen years of work experience. The second largest More than 15 Yearsgroup has two to five years of experience (19 percent). 10+ to 15 Years 7+ to 10 Years 5+ to 7 Years 2+ to 5 Years 1+ to 2 Years Less than 1 Year 0% 10% 20% 30%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 5. 5Job Search ConditionsIn a recent Monster survey of more than 700 Boston professionals, respondents were asked if they were activelysearching for a new opportunity and why they were looking.Their responses showed that the primary reason Boston professionals are looking for a job is due to layoffs thatoccurred and continue to occur in the region. This shows that despite improvements in the economy, uncertainly andfrustration still exists. In a close second rank, respondents noted their salary was not as desired.The top five reasons Boston professionals are searching for a job include: 1. Layoffs occurring/occurred (25 percent) 2. Salary is not as desired (24 percent) 3. Limited or no potential for upward mobility (17 percent) 4. Seeking a career change (15 percent 5. Re-entering the workforce (14 percent)Factors less likely to drive candidates to look for a job were „relationship with a peer‟, „business is closing‟ and„healthcare benefits are not as desired‟.Boston professionals report that they are somewhatfinding success in meeting their expectations andrequirements. Thirty-nine percent are finding „Good‟ to„Excellent‟ conditions.Those respondents that reported „Average‟ to „Poor‟conditions were asked “What makes it challenginglooking for a job?”The two primary reasons job seekers had a difficult timefinding Boston positions was „finding a job that matcheswhat they want (e.g., salary, locations, etc.)‟ and „gettingan employer or recruiter to contact them‟.In Monster‟s recent survey to Boston professionals, themajority of respondents (69 percent) reported they aremost comfortable with going to online job boards tosearch for opportunities and post their resume.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 6. 6Market ConditionsSustained by its strong Education and Health Services sector, the Boston market managed the recession with relativelyminor impact. The area‟s economy and employment is forecasted to return to constrained growth in 2011.Market OverviewBoston is renowned for its quality higher education programs, which bring an estimated $4.8 billion to the city‟seconomy and employ tens of thousands. It has 35 college and universities in its city limits, including 8 major researchinstitutions. The schools help to fuel the rich medical, research, and biotechnology community, which have fared betterthan the vulnerable finance (led by Fidelity Investments) and technology sectors over the past few years. Demonstratingtheir importance, Education and Health Services together account for 23 percent of Boston‟s employment and is the topemploying industry in the area.Boston is the capital of Massachusetts, leading government to be another top employment sector (12 percent of totalemployment). Tourism is also a significant contributor to employment and the economy, driven by Boston‟s four majorconvention centers and its rich history as one of the U.S.‟s oldest cities.1In January 2011, Boston had 1.4 million employed, 114,400 unemployed, and a 7.4 percent unemployment rate. 2Boston‟s key employment industries are the following3: Industry Percent of Boston Employment Education & Health Services 23% Professional & Business Services 18% Trade, Transportation, & Utilities 14% Government 12% Financial Activities 9% Leisure & Hospitality 9% Manufacturing 6% Other Services 4% All other industries 5%During the year from January 2010 to January 2011, Boston added 14,700 jobs. Education & Health Services reportedthe strongest expansion, adding 10,300 jobs. Construction, Financial Services and Manufacturing continued to constrict,albeit by smaller numbers (-2,100, -1,000 and -500, respectively) than in the past few years.Moody‟s Economy.com February 2011 forecast predicts a 1.5 percent expansion in Boston jobs over the next twelvemonths. All sectors are forecasted to expand with the exception of minor declines in Government (-1.5 percent) andLeisure & Hospitality (-1.4 percent).1 Wikipedia.org2 Bureau of Labor Statistics, www.bls.gov3 Boston Workers Employed by Industry; Bureau of Labor Statistics, January 2011 dataCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 7. 7Boston‟s commercial real estate market is forecasted to expand modestly while the residential housing market isexpecting stronger growth. Home values are on the way back up, rising $5 billion in 2009 and $11 billion in 2010 aftershedding $116 billion in value from 2006 through 2008. Boston‟s median home price was up 20% year-over-year inDecember and 6% in January 2011. In December, the city‟s Case-Schiller House Price Index, which tracks changes inthe residential housing market, was down 0.8% for the year and 0.1% from August to September. Though down, therates are much stronger than the U.S. National Index (-4.1% and -3.9%, respectively).4Boston‟s overall employment picture for the next year is one of slow recovery. A strengthening real estate market, solidand expanding Education and Health Services, and rebounding business and consumer confidence support the positivepredictions.A recent Monster survey of nearly 300 Boston recruiters and hiring managers supports the conservative optimism.Respondents were asked “How many positions do you intend to fill in the next six months?” and “What percent of thepositions you expect to fill are new openings vs. replacement positions?”Of the 90% of employers that plan to hire in the next six months, a majority are filling a limited number of roles (53percent plan to hire less than ten positions) as well as limited new roles (54 percent plan that less than 25 percent ofpositions will be new).4 The Federal Reserve Board’s Beige Book, 3/11; Zillow.comCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 8. 8Unemployment RateBoston‟s unemployment rate has trended up and down the past few months. After dropping to 6.8 percent in December2010, it jumped to 7.4 percent in January 2011. Though performance deteriorated in January, it is still stronger thanboth the state‟s unemployment rate of 8.3 percent and the nation‟s of 9.0 percent (8.9 percent in February).The unemployment rate is a lagging measure that indicates both joblessness and strength of the economy. National andstate figures are seasonally adjusted.Payroll ChangeJob creation in the Boston metro area rose 0.9 percent for the second consecutive month, continuing the positiveexpansion reported since April 2010. As comparison, the nation‟s payroll expanded by 0.8 percent in January (+1.0percent in February) and Massachusetts‟ payroll grew by 0.6 percent.Payroll change is a key measure of new job creation (or loss), as it measures the total number of people employed in anarea every month.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 9. 9Online Recruitment TrendsThe Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activityby location, occupation, and industry. As seen below, online job recruitment activity in the Boston metro area hasreturned to positive expansion after reporting significant declines in 2008 and 2009, a positive sign for this metro area.  In February 2011, the Boston MEI gained 17 percent (+11 points) from January and 21 percent (+13 points) compared to the year prior. The Index hit its low point of 52 points in January 2010.  During February, only 2 of the 21 occupational categories monitored by the Index showed a decline in online demand for workers from a year prior: Healthcare Support (-16 percent or -9 points) and Healthcare Practitioners and Technical (-5 percent and -5 points). The greatest percentage improvements were seen in Legal (+40 percent or +14 points) and Production (+34 percent or +19 points). The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real- time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.Boston opportunities across all major online job boards have reported expansion following two difficult years.5 Bostonjob postings in 2008 fell 7 percent and in 2009 dropped another 28 percent. Postings were positive throughout 2010resulting in a significant 28 percent gain for the year. Upbeat trends have continued into 2011, evidenced by onlineopportunities lifting 8% in January.5 Wanted Technologies, New Online AdsCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 10. 10Recruitment ActivityThe companies posting Boston jobs on Monster from March 2010 to February 2011 varied across industries. Listedbelow are the top twenty (out of more than 800 industries) not including staffing or temporary employment agencies thatmay post for a variety of industries. The top twenty industries posted less than half (44 percent) of the Boston jobs onMonster during this time and comprise a relatively wide range of financial, computer, medical and educationalorganizations. 6% - Holding Companies 2% - Computer Storage 3% - Medical & Surgical Hospitals 2% - Business Services 3% - Computer Programming Services 2% - Computer Services 3% - Accounting, Auditing, Bookkeeping 2% - Management Services 3% - Management Consulting 2% - Social Services 2% - Physical & Biological Research 2% - Colleges & Universities 2% - Prepackaged Software 1% - Insurance Agents & Brokers 2% - Newspaper Publishing 1% - Fire, Marine & Casualty Insurance 2% - Elementary & Secondary School 1% - Search & Navigation Equipment Education 2% - Medical Doctors Offices 1% - Eating PlacesThe types of roles Boston companies posted over the past year include roles primarily for IT (18 percent), Finance (15percent), and Sales (11 percent) type roles.Boston Job Postings by Category % Total Job PostingsIT/Software Development 18%Accounting/Finance/Insurance 15%Sales/Retail/Business Development 11%Medical/Health 9%Engineering 7%Administrative/Clerical 4%Biotech/R&D/Science 4%Business/Strategic Management 3%Education/Training 3%Marketing/Product 3%All Other 23%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 11. 11Hiring ConditionsRecruiters surveyed by Monster predict filling Boston roles will move fairly quickly. Nearly half (48 percent) ofrespondents expect it will take between 31 and 60 days to fill a position and 30 percent predict each opportunity willtake fewer than 30 days to fill. 22 percent plan for more than 60 days.With the excess of candidates looking for work, it is no surprise thatrecruiters are having a relatively easy time finding qualifiedcandidates. 71 percent of respondents said their ability to findBoston candidates was “Good” to “Excellent”.Those few respondents that reported „Average‟ to „Poor‟ conditionswere asked “What makes it hard to find candidates?”The primary reason recruiters and hiring managers had a difficulttime recruiting for Boston positions was the extensive time requiredto hire, most likely due to the surplus of resumes that they mustreview to find the ideal candidate. The second challenge area waslack of budgets, showing that budgets are still constrained.When looking at the challenges of the candidates themselves,responses reveal that recruiters are frustrated with the types ofcandidates they are seeing. Even though there is a surplus ofavailable candidates, recruiters still noted there were not enough aswell as under-qualified candidates.Recruiters ranked the top five areas with planned hiring in Boston as: 1. Sales (37 percent) 2. IT (35 percent) 3. Engineering (24 percent) 4. Accounting (22 percent) 5. Customer Service (15 percent)Monster‟s recent survey to Boston recruiters and hiring managers found that a majority of respondents (83 percent) aremost comfortable with going to online job boards to source candidates, the first choice for candidates searching for ajob.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 12. 12Supply and Demand AnalysisThe Boston area data encompasses counties primarily in Massachusetts, but also in the states of New Hampshire andVermont. A comparison of Monster job seekers seeking employment in the market compared to the volume of jobpostings in the area reveals higher supplies of talent in the counties of Dukes, Nantucket and Plymouth, Massachusetts,denoted by the darker green areas in the map below. Recruitment for candidates in lighter green counties such asSuffolk, Middlesex and Worcester, Massachusetts may be more competitive as the ratio of resumes per job posting islower than in other Boston areas.The types of roles these candidates are seeking span a wide range of areas with the highest volume targetingAdministrative/Clerical (10 percent) opportunities followed by Sales/Retail/Business Development (8 percent) ones.Boston Job Seekers by Category % Total Job SeekersAdministrative/Clerical 10%Sales/Retail/Business Development 8%IT/Software Development 7%Accounting/Finance/Insurance 7%Customer Support/Client Care 6%Medical/Health 6%Marketing/Product 5%Manufacturing/Production/Operations 5%Business/Strategic Management 4%Engineering 4%All Other 38%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 13. 13The remainder of this report will focus on key Boston professions and how supply and demand measures up whenrecruiting in this dynamic area. Employers Job Seekers 1. Secretaries/Administrative Assistants, 7% 1. Computer Software Engineers, 9% 2. Marketing/Sales Managers, 5% 2. Human Resources Specialists, 4% 3. General/Operations Managers, 4% 3. Accountants and Auditors, 4% 4. Computer Software Engineers, 4% 4. Marketing/Sales Managers, 3% 5. Customer Service Representatives, 4% 5. General/Operations Managers, 3% 6. Other Managers, 3% 6. Financial Analysts/Advisors, 3% 7. Computer Systems Analysts, 2% 7. Computer Systems Analysts, 3% 8. Supervisors/Managers of Office and 8. Financial Managers, 3% Administrative Support Workers, 2% 9. Computer Programmers, 2% 9. Financial Analysts/Advisors, 2% 10. Secretaries/Administrative Assistants, 2% 10. Human Resource Specialists, 2% ● ● ● ● ● ●Over one-third of the supply (35 percent) and demand (36 percent) in Boston are for the top ten occupation clusterslisted above. Seven of the top ten opportunities in demand may be found among the top candidates in supply. Theremay be a slight advantage towards hiring Secretaries/Administrative Assistants, ranked first out of the top ten under jobseekers and last under employers. Plan for extra time to weed through the excess of resumes and seek prospects totransition candidates into other opportunities.Listed below are the top 20 out of over 2,700 job titles in which Boston job seekers are interested. These 20 job titlesaccounted for 20 percent of the Boston talent‟s interest. The list shows a variety of roles, but is particularly strong withadministrative and manager positions. # Job Titles (1-10) # Job Titles (11-20) 1 Administrative Assistant 11 General Director 2 Customer Service Representative 12 Receptionist 3 General Manager 13 Research Assistant 4 Sales Representative 14 Financial Analyst 5 Project Manager 15 Business Systems Analyst 6 Executive Administrative Assistant 16 Human Resources Administrative Assistant 7 Office Manager 17 Sr. Software Engineer 8 Software Engineer 18 Medical Assistant 9 Registered Nurse (RN) 19 Marketing and Sales Manager 10 Office and Administrative Support Workers, Other 20 Assistant ManagerCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 14. 14The top 20 (out of more than 2,400) Boston job titles posted on Monster.com from March 2010 to February 2011 weredominated by IT positions as well as finance and manager roles. They accounted for 18 percent of all job titles, showingthe diverse opportunities available. # Job Titles (1-10) # Job Titles (11-20) 1 Technical Recruiter 11 Staff Accountant 2 Software Engineer 12 Teacher 3 Sr. Software Engineer 13 Customer Service Representative 4 Human Resources Counselor 14 Programmer 5 Sr. Accountant 15 Assistant Manager 6 Financial Analyst 16 Regional Sales Manager 7 Sales Representative 17 Accountant 8 Administrative Assistant 18 Tax Manager 9 Product Manager 19 Engineering Manager 10 Sr. Mechanical Engineer 20 Registered Nurse (RN) Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the key Boston occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from March 2010 through February 2011. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where demand may outweigh supply. How to Read the Matrix: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High volume in jobs and talent Focus on keeping talent and generating jobs Talent Shortage Not enough talent to meet demand At risk for competitionCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 15. 15Talent SurplusAdministrative and Customer Service sit in the Talent Surplus quadrant, while Production and Marketing are very closeto entering the area. These categories show less job opportunities to meet job seeker needs. Recruiters need to plan foradditional time and resources to help screen increased volumes of candidates and could consider retraining or otherworkplace development programs to ensure the surplus of candidates are put to work.Incubator Opportunities (Growth Areas)The growth occupations span a wide range of categories and are prime for candidate and/or job opportunity expansion.High PerformanceThere are four categories in the High Performance quadrant: Sales, Finance, IT and Healthcare. There is an amplevolume of both job postings and seeker resumes for these sectors, though the small circle size indicates demand mayoutweigh supply. Healthcare is partially in the Talent Shortage area, indicating a lower volume of talent for this criticalBoston sector. Employers need to continue to generate candidate interest and offer training and education programs tomaintain a pipeline of strong candidates.Talent ShortageThere are no occupations in the Talent Shortage area, showing the current surplus of talent – and need for jobopportunities - in Boston.The matrix below summarizes occupational supply and demand from March 2010 through February 2011. High Performance Zone Talent Surplus Incubator Talent Shortage ZoneCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 16. 16In the following analysis, we compare Boston talent demand (job postings) with talent supply (resumes) across a rangeof characteristics. The comparisons reveal the similarities and disparities between the available jobs and the searchingseekers. This analysis provides direction for recruiters and employers in setting their expectations and developmentareas.Career LevelA solid 66 percent of job postings are for mid-careertalent compared with 45 percent of new resumes.Due to this imbalance, recruiters may need to beflexible in their career requirement, most likely findingan excess of over-qualified Manager-level candidates.Education LevelBoston recruiters are concentrated in searching forcandidates with at most a Bachelor‟s Degree (68percent). Though the talent supply pool is a fairlyeducated group, as 57 percent have at least aBachelor‟s Degree, recruiters could still be challengedto fill roles as many seekers are either under or over-qualified.Experience LevelSimilar to the other metrics, Boston candidates arespread among the categories while job postings arerelatively concentrated. A high 37 percent of jobopportunities are for candidates with 2 to 5 years ofexperience compared to the 19 percent of availableseekers. Some recruiters will need to settle oncandidates with more years of experience thandesired which may lead to higher compensation fortalent.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 17. 17Job Type RequirementsEighty-six percent of Boston job postings are for permanent positions and the remaining 14 percent are for temporaryand intern work. The temporary work, which typically expands the fastest post-recession as employers conservativelyhire for the short-term, is relatively low compared to other regions. This trend could indicate the strength of the city‟sbusiness climate, as well as be influenced by the type of roles available.With 79 percent of job seekers desiring permanet employment and 19 percent willing to step into either a perment ortemporary role, employers should be able to support current hiring needs for this requirement.Job Status RequirementsNinety-five percent of job postings are for full-time employment and only 5 percent for part-time, while 78 percent ofcandidates are open to full-time employment, 3 percent for part-time and 19 percent for either. Employers should havean ample pool of talent to meet their needs within these criteria.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 18. 18Qualifications and BenefitsAs employers look through reams of resumes, the Boston professionals place the greatest importance on „type(s) ofwork experience‟ (73 percent) and „years of work experience‟ (68 percent) when applying for opportunities. Recruitersagree that the type of work experience is critical in the evaluation of Boston candidates. When asked “What were themost important qualifications in recruiting Boston talent?” hirers responded „type of work experience‟ (86 percent)followed closely by „years of work experience‟ (78 percent) and „personality/cultural fit‟ (75 percent).Listed below are the most important factors Boston professionals consider when evaluating a job opportunity. Note thatthese characteristics have been influenced by the recessionary economy over the past few years, as „salary‟ and„stability of position‟ ranked in first and second, respectively.Recruiters were asked how they would rate the same list of factors in terms of their importance to recruiting talent.„Salary‟ ranked first, closely followed by „company‟s reputation‟ and „stability of position‟.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 19. 19CompensationCompensation expectations for recruiters and candidates are in fairly close alignment giving encouragement thatrecruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered from March 2010 toFebruary 2011 was $72,500 and the median salary candidates were seeking was $55,000. The discrepancy could bedue to the types of jobs and candidates available, as well the salary requirements may represent total compensation forsome job seekers and only a base salary for others.The majority (23 percent) of Boston job postings on Monster offer a salary in excess of $100,000. The second largestconcentration of postings offers $40-80,000 (21%, $60-80,000 and 20%, $40-60,000). Most (30 percent) job seekersexpect to earn between $40-60,000.The most significant disparity in compensation is at $60,000, where a higher percentage of employers offer greatersalaries than candidates are requiring. Forty percent of Boston job seekers expect to earn less than $60,000 though 60percent of employers plan to offer less than $60,000. Nearly three-quarters (71 percent) of Boston job seekers expect toearn at least $40,000.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 20. 20Diversify Your Recruitment Strategy in 2011As the nation emerges from challenging times, recruiters should keep in mind the following points when planning for thenext 12-months.Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presenceand sourcing candidates. Todays recruiters must actively network across the Internet to get a more holistic view of theapplicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individualsaccess advice from industry experts and keep on top of trends. These communities also offer employers access to apool of targeted candidates.Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicatefrequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs andeliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Searchapplication, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiterssave time and money sourcing candidates that precisely match their positions.Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract andretain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveragingMonster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reportsand webinars covering the most current issues facing not only job seekers, but recruiters as well.Monster IntelligenceAs the premier digital employment solution, Monster has consistently maintained a leadership position in defining anddriving innovative products and services to champion digital recruitment. We see tremendous value in providing ourclients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors,as well as general employment market trends. In direct response to our customers‟ needs for strategic human capitalintelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leadersand HR Executives real-time insight into market trends that will guide them in future recruitment planning.As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to CorporateExecutives and Hiring Managers. These tools provide our customers with views into the labor market andcomprehensive information to further their employment strategy.More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. Wewelcome your insight and comments on the monster intelligence reports and encourage you to let us know yourthoughts by providing feedback at Intelligence@monster.comMonster is the primary source of information for this report; it should only be interpreted as a definitive activity report onMonster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologiesby dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior ratherthan intended behavior. Data is current through February, 2011 unless otherwise indicated.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 21. 21Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.

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