Making Sense of the Employment Market

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Presentation from the Fordyce Forum 2012, presented by Joanie Ruge.

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Making Sense of the Employment Market

  1. 1. 1   Making Sense of the employment Market The secret to boosting the industry and your personal brand Joanie Ruge, Senior Vice President Chief Employment Analyst
  2. 2. Agenda   •  How  the  numbers  can  boost  BRAND  “YOU”  and  the  industry   •  BUILDING  your  arsenal  of  labor  MARKET  KNOWLEDGE   •  TIPS  for  POSITIONING  YOURSELF  as  a  recruitment  expert  2  
  3. 3. Client  ExpectaNons   A  DAY  IN  THE  LIFE  OF  A  RECRUITER  3  
  4. 4. HOW THE numbers CAN BOOST BRAND “you”4  
  5. 5. Brand  Recruitment  “Expert”  (WIFM)   •  Credibly  manage  client  expectaNons   •   Protect  margins   •   Increase  customer      retenNon  &  referrals   •         Boost  industry                                    reputaNon    5  
  6. 6. POSITIVE  BRAND  EQUITY  6  
  7. 7. NEGATIVE  BRAND  EQUITY  7  
  8. 8. WHAT DO you want TO BE KNOWN FOR?8  
  9. 9. Brand  Strategy   •  Value   $3.50   •  DifferenNates     •  Character   •  Consistent   VS.  $1.80  Dunkin  Donuts   $0.30  at  home    9  
  10. 10. Brand  Power  for  Recruiters   Geographic Market Niche Industry / Profession National Employment Trends Personal Experience & Assets Economic Outlook BEAT the competition10  
  11. 11. Why  Focus  on  Your  Personal  Brand  Now?   Relevance   •  Heightened  interest  in  employment  outlook   •  Central  theme  of  upcoming  presidenNal  elecNons   Gap   •  Fill  void  for  sound  job  market  advice   •  Intelligence  for  smarter  recruitment  strategies   Reach   •  Social  media  creates  unprecedented  reach   •  Levels  the  playing  field  11  
  12. 12. building   YOUR ARSENAL OF LABOR MARKET knowledge  12  
  13. 13. NaNonal  Employment  Trends   **  Data  update  due  5/1/12   Non-­‐farm  payroll:  +  120,000     Private-­‐sect  payroll:    +  121,000   Unemployment rate 8.1 percent •  Health  care:  +26,000;     •  Retail:  -­‐34,000   •  Professional/business  services:   +31,000     Government:  -­‐1,000     •  Federal:  no  change   •  State:  +2,000   •  Local:  -­‐3,000     Growth  leaders:     •  manufacturing     •  food  services/drinking  places       April 201213  
  14. 14. Unemployment  by  EducaNon  14  
  15. 15. Unemployment  by  Age  15  
  16. 16. Unemployment  by  Region  16  
  17. 17. Unemployment  by  State  17  
  18. 18. Average  Hourly  Wages  by  Industry  Sector  18  
  19. 19. Economic  Indicators   •  GDP    slowed  to    1.9%  1Q12,  vs.  3.0%  4Q11   •  May  Consumer  Confidence  Index  64.9,  biggest   drop  in  eight  months   •  Average  home  prices  ended  quarter  down  2.6%,   new  post-­‐bubble  low  may  point  to  stabilizaNon   •  Retail  sales  $408.0  billion  in  April,  up  0.1%  mo/ mo  and    6.1%  yr/yr   •  Manufacturing  Index  slowed  to  53.5  from  54.8  in   April,  but  new  orders  rose  to  highest  in  over  a   year  19  
  20. 20. Randstad  Employment  Trends  &  Research   Worker confidence dips •  Randstad  Employee   Confidence  Index  dips  1.1%   Index remains above 50 •  CauNon  being  exercised  from   both  employee  and  employer   perspecNve   •  More  employees  took  a   middle  of  the  road  stance   when  it  comes  to  the   economy,  job  market,  and   their  personal  employment   situaNon     May 201220  
  21. 21. INDUSTRY trends21  
  22. 22. Staffing  Industry  Payroll  Trends   Source: U.S. Bureau of Labor Statistics and Bruce Steinberg22  
  23. 23. Staffing  Industry  by  Segment   Source: U.S. Bureau of Labor Statistics and Bruce Steinberg23  
  24. 24. Professional  Services  Trend   Overall  conSnued  upward  trend   •  +562,000  over  past  12  months     •  +  32,000  jobs  in  Oct.  ‘11   •  Modest  job  gains  in  recent  months  in  temp   help  services/management  and  technical   consulNng   Sub-­‐  Sectors   •  Finance/AccounNng     •  Legal  Staffing   •  Healthcare  (OccupaNons  in  Demand)   •  IT  (OccupaNons  in  Demand)   •  Engineering/Design  24  
  25. 25. Finance  &  AccounNng   Slow  and  Steady.   •  BLS  projects  growth  in  accounNng  jobs  2008  to  2018  of  22%   •  Sizeable  growth  in  1Q12,  up  15,000  jobs  in  March   •  Financial  analyst  jobs  to  grow  23%     2010  to  2020   •  Unemployment  rate  for  finance  and  accounNng   professionals  is  5.5%   •  Growth  driven  by  expanding  financial     products  and  the  need  for  in-­‐depth     knowledge  of  geographic  regions  25  
  26. 26. Legal  Staffing   Growth  ProjecNons   ConNnued   • 7%  in  2012,  5%  in  2013   recovery  from   • $1.4  billion  in  2012,                                           2009  recession   $1.5  billion  in  2013   Source:  SIA   Legal  services   employment  currently   flat  has  gradually   recovered  from  2010  low   of  losing  50,000  jobs   monthly  26    
  27. 27. Healthcare  Demand   According  to  BLS  one  of  the  few  sectors  that  added  workers  during   the  economic  downturn  and  is  forecasted  to  conSnue  its  growth.   •  Rise  in  travel  nursing,  where  cuts  were  deepest   •  Physicians  migraNng  to  hospital  employment  over  private  pracNce   •  Tepid  locum  tenens  recovery,  with  health  informaNon  management  and   excepNon   •  Pressure  on  bill-­‐pay  spread  27  
  28. 28. Healthcare  Supply   Skills  evolving,  more  engineering  focused.  Lacking  educaSon     &  training  to  meet  employer  expectaSons.     Titles  in  Demand   Job   Job  Titles  in  Supply   1.Registered  Nurse   1.Medical  Assistant   2.Nurse  Manager   2.Registered  Nurse   3.CerNfied  Nursing  Assistant   3.CerNfied  Nursing  Assistant   4.Pharmacy  Technician   4.Pharmacy  Technician   5.Physical  Therapist   5.Licensed  PracNcal  Nurse   6.Physician  Assistant   6.Laboratory  Technician   7.Licensed  PracNcal  Nurse   7.Healthcare  Support  Workers   8.Nurse  Supervisor   8.Phlebotomist   9.PaNent  Care  Coordinator   9.Dental  Assistant   10.Home  Health  Aide 10.Medical  Laboratory  Technician   Source: Monster 2011 Occupational Report  28  
  29. 29. InformaNon  Technology   Flat  to  decelerated  industry  growth.  Modest  job  growth.     Job  Titles  in  Demand   Job  Titles  in  Supply   1.Sosware  Engineer   1.Sosware  Engineer   2.Sr.  Sosware  Engineer   2.Business  Systems  Analyst   3.Java  Developer   3.IT  OperaNons  Manager   4.Programmer  Analyst   4.InformaNon  Technology  Manager   5.Business  Systems  Analyst   5.Systems  Administrator   6.Sosware  Quality  Assurance  Engineer   6.PC  Technician   7.Webmaster   7.Network  Administrator   8.PC  Technician   8.Technical  Support  RepresentaNve  -­‐Entry  Level   9.Web  User  Interface  Designer   9.Sr.  Sosware  Engineer   10.C/C++  Programmer   10.Programmer  -­‐Entry  Level   Source: Monster 2011 Occupational Report  29  
  30. 30. Engineering  &  Design   Poised  for  job  growth   •  2011  highest  level  of  jobs  in  four  years   •  1.6  million  jobs  at  end  of  Q1’12,  expected  to  grow  11%  over  next  ten  years   •  PotenNal  skills  shortage  :  computer  hardware  engineers  (2.2%),    mechanical    (2.5%),  chemical,  (3.2%),  aerospace  engineers  (3.3%),  and  electrical  engineers    (3.4%.)     Skill  Demand   •  Ongoing  need  for  new  products  and  technology  to  enhance  efficiency     and  profitability   •  Biomedical  engineering  to  address  needs  of  aging  populaNon   •  Environmental  engineering  to  further  protect  and  conserve   •  InternaNonal  compeNNon  stunNng  U.S.  job  expansion  for  computer     hardware,  electrical  and  electronics  engineers    30  
  31. 31. more  trends  to  watch   MILLENIALS BABY BOOMERS WOMEN VS. MEN31  
  32. 32. Millenials   “Trophy  Kids”  Entering  the  Workforce   Born  1980  –  2001   •  Lavished  with  praise   •  Sense  of  enNtlement   •  Expect  access  to  senior  managers   •  AmbiNous  but  not  cut-­‐throat     •  SensiNve  to  criNcism   •  Confident  in  their  employability   •  Will  work  hard  if  engaging  task   with  tangible  payoff   Everyone  is  a  winner   `  32  
  33. 33. Baby  Boomers   Changing  Face  of  ReSrement   Born  1945-­‐1965   • 8  out  of  10  will  work  into     their  70’s   • Retraining  due  to  obsolete  jobs   • New  applicaNon  of  skills   • 8.4  million  ages  44  to  75  in   “encore”  careers  in  educaNon,   community,  healthcare   • Highly  skilled,  experienced   Work  your  way     to  the  top   • Seeking  more  flexibility,  less     salary,  pursue  passion,  do  good  33  
  34. 34. Women  vs.  Men   Glass  Ceiling  Shaeering?   •  Higher  job  growth  for  women  since  Dec  .  2011   •  +83,000  jobs    vs.  +120,000  for  women  (Jan/Feb  ‘12)   •  Women  comprise  majority  of  college  grads   •  Growth  in  white-­‐collar  jobs       2010 2011 201234  
  35. 35. Nps   FOR PROMOTING YOUR PERSONAL brand35  
  36. 36. TIP  #1  –  Content  is  King  36  
  37. 37. TIP  #2  –  www.Me.com  Command  Center   •  Create  a  professional  website   •  Post  plugs   •  Prominent  “About”  page   •  Case  studies   •  AdverNse  yourself   •  RecommendaNons  &  tesNmonials  37  
  38. 38. TIP  #3  –  Keep  Up  RelaNons   •  Word-­‐of-­‐mouth  sNll  rules   •  Network  of  contacts     •  Maintain  and  build     new  contacts   •  Share  recent  successes,     advice  &  experiences  38  
  39. 39. TIP  #4  –  Get  Social   •  Ever  Googled  Yourself?   •  Hallmark  of  strong  personal  brand  is  how     easily  you  are  found  when  someone            searches  for  you  on  the  web.   •  LinkedIn  for  corporate  networking     •  Facebook,  Ziggs  directories   •  YouTube  Channel  for  video   •  Flickr  for  images   •  Slideshare  for  presentaNons   •  Twizer  for  communicaNon,  immediacy     and  promoNng  content  globally   •  Google  counts  every  link  to  a  web  page     as  a  “vote”  for  that  page.     •  All  your  accounts  must  be  interlinked!  39  
  40. 40. Commit   TO BRAND building   But don’t over commit!40  
  41. 41. Life  of  A  Recruiter   Susan  Roder’s  Video  Resume  41  
  42. 42. 42   www.joanieruge.com   follow @joanieruge   Joanie Ruge SVP & Chief Employment Analyst JoanieRuge@sfngroup.com sfngroup.com 954.308.7600

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