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2011 Chicago Job Market Conditions Report

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The Chicago Job Conditions Report offers insights and analysis from Chicago recruiters, hiring managers and job seekers. This study focuses on both Chicago professionals and recruiters looking to hire …

The Chicago Job Conditions Report offers insights and analysis from Chicago recruiters, hiring managers and job seekers. This study focuses on both Chicago professionals and recruiters looking to hire Chicago talent.

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

This report provides:

* An overall look at the Chicago 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 Chicago talent in 2011
* Insight on Chicago professionals and their careers, job search obstacles and valued qualifications and skills

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  • 1. LOCAL MARKETCHICAGO2011 JOB CANDIDATESInsights and Analysis from Professionals,Recruiters and Hiring ManagersSponsored by:Brought to you by Monster Intelligence
  • 2. 2CHICAGO – 2011 JOB CANDIDATESChicago professionals should find improved hiring conditions in 2011as the area slowly rebuilds its economy. It will take time as well ascontinued ups and downs to get each of Chicago‟s critical sectors,including financial services, media, education, and transportation,productive and hiring.The Federal Reserve Bank of Chicago, www.federalreserve.gov, is“cautiously optimistic” about the outlook for 2011. The most recenteconomic indications were positive with increased consumer spending,business spending, and manufacturing production. TABLE OF CONTENTSMonster leveraged more than 1.1 million Chicago resumes coupledwith online job postings for Chicago talent in order to gain insight into Hiring Talent in 2011 3candidates and employers. Data is current through December 2010 Chicago Talent 3unless otherwise noted. Additionally, Monster surveyed active Chicago Career Talent 4professionals, HR professionals and hiring managers to present a Education Talent 4snapshot of activity within the United States on Monster. The surveys Experienced Talent 4were conducted between November and December 2010. Job Search Conditions 5 Market Conditions 6 Market Overview 6 Unemployment Rate 8 Payroll Change 8 Online Recruitment Trends 9 Recruitment Activity 10 Hiring Conditions 11 Supply and Demand Analysis 12 Labor Performance Matrix 14 Career Level Requirements 16 Education Level Requirements 16About the Sponsor: Experience Requirements 16 Job Type Requirements 17 Job Status Requirements 17 Qualifications and Benefits 18 Compensation 19Staffmark has a long and successful history in the staffing industry.Founded in 1970, we have now grown to be one of the top ten Conclusion 20commercial staffing companies in the United States. Staffmark has areputation for outstanding customer service, and we are committed to Monster Intelligence 20matching quality companies with only the most skilled and talentedcandidates, the first time, and every time!We have been in business for over 38 years and have more than 300locations in 31 states. Our longevity in the market, strategically placedbranch offices, extensive candidate and customer base, and focus onsuperior customer support allow us to deliver world-class service on atargeted, personal level.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.
  • 3. 3HIRING TALENT IN 2011Chicago Talent SkillsThe following data analyzes the supply (resumes) of Listed in the chart below are the top skills madeChicago professionals on Monster. It provides a current available by Chicago candidates on their Monsterpicture of Chicago talent availability in the United accounts. The list is full of technical skills, includingStates. computer skills and software packages, as well as administrative functions, such as typing, filing, andListed below are the top ten Chicago occupations in office equipment. The most popular soft skills includesupply and their share of volume. These occupations Communications, Leadership and Organization.account for 87 percent of Chicago‟s talent. Office and Administrative Support - 23% Management - 21% Computer and Mathematical - 10% Business and Financial Operations - 9% Sales and Related - 8% Architecture and Engineering - 4% Arts, Design, Entertainment, Sports, and Media - 3% Production - 3% Life, Physical, and Social Science - 3% Healthcare Practitioners and Technical - 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 Chicago talent found on Monster including career experience, education leveland work experience. Chicago candidates found on Monster are typically mid-career with at least a Bachelor‟s degreeand have more than fifteen years of experience.Career Talent Career LevelForty-five percent of Chicago job seekers in 2011 are mid-career. Thirty percent are managers or above while 24 Student Executivepercent are emerging into today‟s workforce. Entry Level 9% 5% Manager 15% 26% Mid Career 45%Education Talent Education LevelFifty-two percent of Chicago job seekers in 2011 have atleast a Bachelor‟s degree. Twenty-four percent have an Certification -Vocational Masters orAssociate degree or some college experience. 5% Above High School 15% 14% Associate/ Bachelors Some- 37% College 24%Experienced Talent Years of Work ExperienceThe majority (25 percent) of Chicago job seekers have morethan fifteen years of work experience. The second largest More than 15 Yearsgroup has two to five years of experience (18 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 nearly 1,000 Chicago professionals, respondents were asked if they were activelysearching for a new opportunity and why they were looking. The primary reason Chicago professionals are looking for ajob is due to layoffs that occurred and continue to occur in Chicago, which shows that despite improvements in theeconomy, uncertainly and frustration still exists. Further suggesting discontent among working professionals, otherresponses included salary is not as desired, limited or no potential for upward mobility, and seeking a career change.Re-entry into the workforce was also a common theme. With the uncertainty of the economy many stay at home mom‟s,retired individuals, and those unemployed for extended periods of time are seeking re-entry into the workforce.The top five reasons Chicago professionals are searching for a job include: 1. Layoffs occurring/occurred (27 percent) 2. Salary is not as desired (21 percent) 3. Limited or no potential for upward mobility (17 percent) 4. Seeking a career change (16 percent 5. Re-entering the workforce (13 percent)Factors less likely to drive candidates to look for a job were „relationship with a peer or manager‟.Chicago professionals report that they are somewhatfinding success in meeting their expectations and Ability to Find Chicaog Job Opportunities Thatrequirements. Thirty-nine percent are finding „Good‟ to Meet Requirements„Excellent‟ conditions, which is slightly encouraging Excellentnews in this rebounding region. Poor 10% 18%Those respondents that reported „Average‟ to „Poor‟conditions were asked “What makes it challenginglooking for a job”. The two primary reasons job seekershad a difficult time finding Chicago positions were Good„getting an employer or recruiter to contact them‟ and Fair 29%„finding a job that matches what they want (e.g., salary, 17%locations, etc.)‟.From Monster‟s recent survey to Chicago professionals,the majority of respondents (68 percent) are most Averagecomfortable with visiting online job boards to search for 26%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 ConditionsChicago‟s diverse and substantial economy has hit bottom and begun the climb back to positive territory.Unemployment and payroll change metrics are slowly improving; indicating businesses are stabilizing and expanding.Despite the positive momentum, Chicago‟s economy and employment will take several years to achieve a full recovery.Market OverviewSimilar to New York City, Chicago has a wide array of business sectors. It is a major world financial center, is thenation‟s third largest media market, and hosts a significant number of advertising agencies and manufacturing,publishing, printing, and food processing companies. The area is also a strong transportation and distribution hub, withan inland port and one-half of the nation‟s freight trains passing through the area. In addition to the city‟s $95 millionhighway resurfacing project, O‟Hare has begun a major $15 billion modernization program, which is projected to createjobs and cash flow through 2026.Education is a notable employment sector (15 percent of total employment) due to top universities in the area, includingUniversity of Chicago and Northwestern, and its operation of the third largest public school system in the nation with400,000 students enrolled. Lastly, tourism thrives because of the local attractions and convention facilities attractingover 35 million visitors annually.1In November 2010, Chicago had 4.4 million employed, 440,600 unemployed, and a 9.0 percent unemployment rate.Note the measured area defined by the Bureau of Labor Statistics includes the geography in and around Chicago,Illinois; Joliet, Indiana; and Naperville, Wisconsin.2Chicago‟s key employment industries are the following3: Industry Percent of Chicago Employment Trade, Transportation, and Utilities 20% Professional and Business Services 15% Educational and Health Services 15% Government 14% Manufacturing 10% Leisure and Hospitality 8% Finance 7% Other Services 4% Construction 4% All other industries 2%1 “REJournals.com’s “What’s Next? A Look Ahead at Chicago’s Industrial Market” by James A. McShane 10/12/102 Bureau of Labor Statistics, www.bls.gov3 Chicago Workers Employed by Industry; Bureau of Labor Statistics, October 2010 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. 7Demonstrating that improvement is happening, but happening slowly, Chicago reported a loss of 62,100 jobs or 1.5percent of its workforce from October 2009 to October 2010 compared to a loss of 255,400 jobs the prior year period.The loss in Manufacturing jobs stabilized (-200 drop in jobs) while the drop in Construction (- 22,500 jobs and 13percent of its employment base) and Professional & Business Services (-15,300 and 2 percent of its workforce)continued. Education & Health Services was the only sector to expand during the year, adding a minor 4,800 jobs.Moody‟s Economy.com December 2010 forecast predicts improved job conditions over the next twelve months, with anexpected 2.4 percent increase in jobs. While most sectors are forecasted to expand, the strongest percentage increaseis expected in Professional & Business Services (+6.6 percent).Like its economy, Chicago‟s housing market is experiencing a slow turnaround. In November, the city‟s Case-SchillerHouse Price Index, which tracks changes in the residential housing market, was down a significant 7.6 percent for theyear and 2.2 percent from October to November; it was one of nine markets to report a new low. In September 2010,42.5 percent of all home sales in the Chicago area were distressed properties and the average price paid for a homewas $238,592, down 4.6 percent from a year earlier.4Predictions for 2011 are that the year will be similar to 2010, reporting continued positive but measured growth. Chicagowill closely track the national economy and recovery and rely on the nation to generate local momentum, especially infinancial services and transportation.5Supporting the forecast of constrained growth, a recent Monster survey of more than 400 Chicago recruiters and hiringmanagers asked “How many positions do they intend to fill in the next six months” and “What percent of the positionsthey expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months arefilling a limited numbers of roles (54 percent plan to hire less than ten positions) and very limited new roles (59 percentplan that less than 25 percent of positions will be new). Number of Chicago Positions New Openings versus Replacement Chicago Positions to Fill in Next Six Months 40% 60% 50% 30% 40% 20% 30% 20% 10% 10% 0% 0% <10 11-50 >50 <10% 10% to 25% 25% to 50% 50% to 75% 75% to 100%4 Standard & Poors’ Case-Schiller Home Price Indices, November 2010;The Home Front’s “Distressed property bargains create glut inChicago housing market” by Don Debat 10/27/105 The PNC Financial Services Group’s “Regional Economic Outlook” Fourth Quarter 2010Copyright @ 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 RateImprovement in the Chicago unemployment rate supports indications of a recovering economy. The city‟s rate has fallenfrom its peak of 11.7 percent in January 2010 to 9.0 percent in November. The area‟s unemployment rate is strongerthan the nation‟s November rate of 9.8 percent (and December rate of 9.4 percent) and Illinois‟ 9.6 percent Novemberrate.The unemployment rate is a lagging measure that indicates both joblessness and strength of the economy. National andstate figures are seasonally adjusted. Chicago vs. National Unemployment Rate, % Nov 07 - Nov 10 13.0 11.0 9.0 7.0 5.0 3.0 Nov-07 May-08 Nov-08 May-09 Nov-09 May-10 Nov-10 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Mar-08 Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Chicago NationalPayroll ChangeJob creation in the Chicago metro area dropped a slight 1.2 percent in November; though still negative, thisperformance continued a significant improvement trend seen throughout 2010. As comparison, the nation‟s payroll hasreported strong recovery with positive expansion since August and a solid 0.6 percent growth in November.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. Chicago vs. National Payroll Growth, % YoY Nov 07 - Nov 10 2.0 0.0 -2.0 -4.0 -6.0 -8.0 Nov-07 May-08 Nov-08 May-09 Nov-09 May-10 Nov-10 Jan-08 Jan-09 Jan-10 Mar-08 Jul-08 Sep-08 Mar-09 Jul-09 Sep-09 Mar-10 Jul-10 Sep-10 Chicago NationalCopyright @ 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 Chicago metro area hassteadily improved during 2010 despite a slight slowdown typically seen over the holiday season. Though levels remainfar below 2007 and the first half of 2008, signs are positive that Chicago employment is on the mend.  By the end of 2010, the Chicago MEI gained 30 percent (+14 points) since a year prior or 42 percent (+23 points) from its January 2010 low point.  During December, only 1 of the 21 occupational categories monitored by the Chicago Index showed reduced online demand for workers from a year ago: Military Specific (-6 percent or -5 points). The greatest improvements were seen in Personal Care and Service (+13 percent or 55 points) and Transportation and Material Moving (+69 percent or +46 points). Monster Employment Index Chicago YoY Change 140.0 40% 120.0 20% YoY Change, % Index=100 100.0 0% 80.0 -20% 60.0 -40% 40.0 -60% Jun-08 Jun-09 Jun-10 Aug-08 Aug-09 Aug-10 Dec-07 Feb-08 Apr-08 Dec-08 Feb-09 Apr-09 Dec-09 Feb-10 Apr-10 Dec-10 Oct-08 Oct-09 Oct-10 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.Chicago opportunities across all major online job boards have reported positive expansion following two difficult years.6Chicago job postings in 2008 fell 28 percent and in 2009 dropped another 24 percent. Postings were positive throughout2010 resulting in a significant 28 percent gain for the year. Chicago "New" Online Job Ads - Dec07 - Dec 10 Job Ads YoY Change Index=100, 2007 Average 120.0 60% 100.0 40% YoY Change, % 80.0 20% 60.0 0% 40.0 -20% 20.0 -40% 0.0 -60% Dec-07 Feb-08 Dec-08 Feb-09 Dec-09 Feb-10 Dec-10 Oct-08 Oct-09 Oct-10 Jun-08 Aug-08 Jun-09 Aug-09 Jun-10 Aug-10 Apr-08 Apr-09 Apr-106 Wanted Technologies, New Online Ads, Dec ‟08-Dec‟10Copyright @ 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 Chicago jobs on Monster in 2010 varied across industries. Listed below are the top twenty (outof nearly 800 industries) not including staffing or temporary employment agencies that may post for a variety ofindustries. The top twenty industries posted 46 percent of the Chicago jobs on Monster in 2010, with the highest volume(9 percent) in Industrial & Personal Service Paper (wholesale trades). 9% - Industrial & Personal Service Paper 1% - Eating Places 6% - Accounting, Auditing & Bookkeeping 1% - Business Consulting 5% - Management Consulting 1% - Social Services 4% - Computer Programming Services 1% - Highway & Street Construction 3% - Radio & Telephone Communications 1% - Trucking 2% - Business Services 1% - Grocery Stores 2% - Insurance Agents, Brokers & Services 1% - Management Services 2% - Computer Related Services 1% - Security Broker & Dealers 2% - Fire, Marine & Casualty Insurance 1% - Personal Credit Institutions 2% - Advertising Agencies 1% - Pharmaceutical ManufacturersThe types of roles Chicago companies posted over the past year include opportunities largely for Finance (19 percent),IT (17 percent), and Sales (15 percent).Chicago Job Postings by Category % Total Job PostingsAccounting/Finance/Insurance 19%IT/Software Development 17%Sales/Retail/Business Development 15%Marketing/Product 5%Business/Strategic Management 5%Medical/Health 4%Engineering 4%Logistics/Transportation 4%Administrative/Clerical 3%Manufacturing/Production/Operations 3%All Other 21%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 ConditionsSurveyed recruiters predict filling Chicago roles will move fairly quickly. Nearly half (46 percent) of respondents expect itwill take an average 31 to 60 days to fill a position and 29 percent predict each opportunity will take fewer than 30 days.24 percent plan hiring will take more than 60 days. With the excess of candidates looking for work, it is no surprise that recruiters are having a relatively easy time findingqualified candidates. A very strong 71 percent of respondents said their ability to find Chicago candidates was “Good” to“Excellent”.Those few respondents that reported „Average‟ to „Poor‟conditions were asked “What makes it hard to find Ability to Find Chicago Professionals Thatcandidates”. The primary reason recruiters and hiring Meet Requirementsmanagers had a difficult time recruiting for Chicago Fair Poorpositions was „time required to hire‟, most likely due to 6% 2% Excellentthe surplus of resumes that they must review to find the 26%ideal candidate. The next two challenge areas were Average„insufficient budget‟, showing that budgets are still 21%constrained, and „unclear job descriptions‟.When looking at the challenges of the candidatesthemselves, responses reveal that recruiters arefrustrated with the types of candidates they are seeingand the fact that they cannot offer them adequatecompensation. The most popular responses were Good„under-qualified candidates‟, „not enough candidates‟, 45%and „compensation below candidate expectation‟.Recruiters noted the top five areas with planned hiring in Chicago include: 1. Sales (43 percent) 2. IT (34 percent) 3. Engineering (29 percent) 4. Accounting (19 percent) 5. Manufacturing/Production (18 percent)Looking at the methods Chicago‟s recruiters and hiring managers use to recruit talent, most respondents (86 percent)are most comfortable with going to online job boards to source candidates.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 Chicago area encompasses counties in the states of Illinois and Indiana. A comparison of Monster job seekersseeking employment in the market compared to the volume of job postings in the area reveals higher supplies of talentin the counties of DeKalb in Illinois and Jasper in Indiana, denoted by the darker green areas in the map below.Recruitment for candidates in Lake, Cook and Grundy in Illinois, noted in light green, may be more competitive as theratio of resumes per job posting is comparatively low.The types of roles these candidates are seeking span a wide range of areas with the highest volume targetingAccounting/Finance/Insurance (18 percent), IT/Software Development (16 percent), and Sales/Retail/BusinessDevelopment (15 percent).The Chicago seekers are more concentrated and Administrative/Clerical roles ranked muchlower compared with other regions.Chicago Job Seekers by Category % Total Job SeekersAccounting/Finance/Insurance 18%IT/Software Development 16%Sales/Retail/Business Development 15%Medical/Health 5%Marketing/Product 5%Logic/Transportation 4%Business/Strategic Management 4%Engineering 4%Administrative/Clerical 4%Manufacturing/Production/Operations 3%All Other 22%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 Chicago professions and how supply and demand measures up whenrecruiting for this multifaceted talent pool. Employers Job Seekers 1. Secretaries/Administrative 1. Computer Software Engineers, 8% Assistants, 6% 2. Marketing/Sales Managers, 4% 2. General/Operations Managers, 4% 3. Computer Systems Analysts, 4% 3. Marketing/Sales Managers, 4% 4. General/Operations Managers, 4% 4. Customer Service Representatives, 5. Human Resource Specialists, 3% 4% 6. Accountants/Auditors, 3% 5. Other Managers, 4% 7. Secretaries/Administrative 6. Computer Software Engineers, 3% Assistants, 3% 7. Financial Analysts/Advisors, 3% 8. Financial Analysts/Advisors, 3% 8. Sales and Related, 2% 9. Computer Hardware Engineers, 2% 9. Computer Systems Analysts, 2% 10. Financial Managers, 2% 10. Human Resources Specialists, 2% ● ● ● ● ● ●Over one-third of the talent supply (34 percent) and demand (36 percent) in Chicago are for the top ten occupationclusters provided above. Seven of the top ten opportunities in demand may be found among the top candidates insupply. Plan for extra time to weed through the excess of resumes and seek prospects to transition candidates intoother opportunities.Listed below are the top 20 out of over 2,700 job titles in which Chicago job seekers are interested. These 20 job titlesaccounted for 26 percent of the Chicago talent. The frequency of administrative, customer service and manager roles,common across regions, is particularly strong in Chicago. # Job Titles (1-10) # Job Titles (11-20) 1 Administrative Assistant 11 Office Manager 2 Customer Service Representative 12 Receptionist 3 Sales Representative 13 Software Engineer 4 General Manager 14 Business Systems Analyst 5 Assistant Manager 15 Clerk/Typist 6 Project Manager 16 Call Center Representative - Financial Services 7 Executive Administrative Assistant 17 General Director 8 Customer Service Associate 18 Medical Assistant 9 Office and Administrative Support Workers, Other 19 Accountant 10 Financial Analyst 20 Programmer - Entry LevelCopyright @ 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 2,500 titles) Chicago job titles posted on Monster.com from January 2010 to December2010 were dominated by IT, financial and administrative positions and accounted for 22 percent of all job titles. # Job Titles (1-10) # Job Titles (11-20) 1 Hardware Test Engineer 11 Customer Service Representative 2 Sales Representative 12 Software Engineer 3 Group Leader 13 Regional Sales Manager 4 Lawson System Administrator 14 Actuarial Analyst 5 Product Manager 15 Consulting Manager 6 Executive Administrative Assistant 16 Administrative Assistant 7 Quality Services Supervisor 17 Sr. Consultant 8 Sr. Accountant 18 Financial Analyst 9 Staff Accountant 19 Manufacturing Engineering, Other 10 Executive Recruiter 20 Engagement Manager Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the key Chicago occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the 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 growth in jobs and talent Focus on keeping talent 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, Customer Service and Production sit in the Talent Surplus quadrant. These occupations each have alack of job opportunities and surplus of seekers. Chicago recruiters will spend extra time recruiting for these sectors asadditional screening will be required. Recruiters could consider retraining or other workplace development programs toensure the surplus of candidates are put to work.Incubator Opportunities (Growth Areas)The growth occupations span a wide range of occupations, many of them tending towards the Talent Surplus area.These areas are prime for candidate and/or job opportunity expansion.High PerformanceIT, Sales, and Finance sit in the High Performance quadrant, meaning there is a steady volume of both job postings andseeker resumes. The circles‟ small size indicates demand might outweigh supply; categories may drift into the talentshortage quadrant. As the economy and employment opportunities expand, ensure programs are in place to keepexisting talent and knowledge pool. Plan additional time for recruiting talent into thse positions and look towardsrealigning training programs to ensure prompt transition of new hirers.Talent ShortageThere are no occupations in the Talent Shortage quadrant, supporting a current surplus of candidates and lack ofopportunities in Chicago.The matrix below summarizes occupational supply and demand from January 2010 through December 2010. 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 Chicago‟s talent demand (job postings) with talent supply (resumes) across arange of characteristics. The comparisons reveal the similarities and disparities between the available jobs and thesearching seekers. This analysis provides direction for recruiters and employers in setting their expectations anddevelopment areas.Career LevelA vast majority of job postings (71 percent) are for Mid-levelcandidates, compared to 45 percent of available seekers.This disparity is typical and indicates recruiters could have adifficult time hiring, as an excess of under and over-qualifiedcandidates are in the market.Education LevelChicago recruiters primarily seek candidates with at most aBachelor‟s Degree (67 percent), while only 37 percent ofseekers have at most a Bachelor‟s. As more seekers thanopportunities fall in the Master‟s/Doctorate andAssociate/Some College education level, recruiters mighthave to settle for an under or over-qualified candidate,potentially causing frustration and conflict.Experience LevelAs shown in the chart below, Chicago employers arecurrently seeking to fill roles for those in their early to mid-career; 61 percent of postings are for individuals with 2 to 7years of experience. Seekers, on the other hand, are moreexperienced; 55 percent have over 7 years of experience.While, again, this disparity is typical, it shows that recruitersmight be challenged as they try to fill the ranks with lowerlevel, less expensive hires compared to the seekersavailable. Further, companies risk the potential „brain drain‟from the loss of more senior employees.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 RequirementsTwenty percent of current Chicago online positions on Monster are for temporary/contract work while 20 percent ofseekers are open to temporary, contract, intern, and seasonal work. Temporary work typically grows the fastest as theeconomy improves due to employers hiring conservatively for the short-term. With 79 percent of job seekers desiringpermanet employment and 20 percent willing to step into either a perment or temporary role employers should be ableto support current hiring needs for this requirement.Job Status RequirementsEmployers should find adequate supply based on employment status: 95 percent of job postings are for full-timeemployment and 5 percent for part-time, while 80 percent of candidates are open to full-time employment, 2 percent forpart-time, and 18 percent for either.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 most important qualifications Chicago professionals place thegreatest importance on when applying for opportunities is type(s) of work experience (76 percent) and years of workexperience (73 percent). Recruiters agree that the type of work experience is critical in the evaluation of Chicagocandidates. When asked “What were the most important qualifications in recruiting Chicago talent”, hirers respondedtypes of work experience (90 percent) and years of work experience (80 percent) followed closely by personality/culturalfit (76 percent).Listed below are the most important factors Chicago professionals consider when evaluating a job opportunity. Note thatthese characteristics have been influenced by the recessionary economy and corporate scandals over the past fewyears, as „stability of position‟ and „salary‟ ranked in first and second, respectively.Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent.While stability of position and salary ranked high, bonuses and raises was the number one featured factor in recruitingtalent. This may be further evidence of recruitment struggles as employers try to entice those golden employees.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 in 2010 was $62,500and the median salary candidates were seeking was $50,000. (Please note these salary requirements may representtotal compensation for some job seekers and only a base salary for others.)A majority of both Chicago job postings and job seekers on Monster offer/desire a salary ranging from $20-40,000 (31percent and 35 percent, respectively).The most significant disparity between recruiters and seekers is at $60,000, where a higher percentage of employersoffer greater salaries than candidates are requiring. Sixty-seven percent of Chicago job seekers expect to earn less than$60,000 though only 56 percent of employers plan to offer less than $60,000.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 its downturn, recruiters should keep in mind the following points when planning for the next12-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 December, 2010 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.