This document provides a summary of the September issue of the DCR TrendLine publication. It discusses several topics covered in the issue, including workplace flexibility in the US, a projected global labor shortage, fast growing metro areas for contingent workers, and tips for engaging Generation Z employees. The last article discusses how HR can be organized to meet global objectives while still taking local actions. The publication aims to provide insights into industry trends through in-depth research.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The April edition looks at the growing talent management software market and employment in the technology sector. We continue our global series on the ASEAN region by looking at talent trends in the Philippines, and also examine which countries around the world are the most worker-friendly. We explain the debate on if the U.S. economy is at full employment, and throw light on the current situation of the economy. Our feature article discusses the usage of talent analytics and delves into some common myths about big data and metrics. Finally, we reveal which industry in the country has the happiest workers.
DCR National Temp Wage Index
Full Employment: Jobs vs. Inflation
Best Practices in Recruiting for 2015
Changes in the Talent Management Software Market
Industry Highlight: Technology Index
The Philippines – Poised For Growth Through BPO
The World’s Most Worker-Friendly Countries
Measure What Matters
The Happiest Industries
DCR Trendline November 2014 - Non Employee Workforce Insight ss
This document provides a summary of trends in the staffing industry from the editorial staff of DCR TrendLine magazine. It discusses positive economic indicators including job and GDP growth. The unemployment rate dropped to 5.9% while payrolls exceeded expectations. Several industries added jobs including retail, healthcare, and information. The article also discusses wage trends, bonuses, and forecasts hiring growth in Q4 especially in accounting, finance, IT and seasonal retail positions. It highlights the large portion of the workforce consisting of independent contractors and temporary workers.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The May edition looks at wage growth in the United States and employment in the automobile manufacturing sector. We continue our global series on the ASEAN region by looking at the impact on oil prices on Malaysia’s economy. We uncover why recent indexes have been rating the U.S. economy as disappointing. Our feature article discusses the definition of innovation and provides information on how companies can get started on incorporate innovation into their organizations. Finally, we examine how the talent acquisition sector has been disrupted by changes in the way employers access and engage with talent.
DCR National Temp Wage Index
U.S. Economy: Disappointing..?
Wage Growth Across The U.S.
Industry Highlight: Automobile Manufacturing Index
What Do Millennials Want?
Malaysia: Oil Prices Pose Threat to Economy
Innovation as Usual
Recruiting Disrupted,.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The June edition looks at the impact of oil prices on employment in the oil and gas industry and trends in talent management. We continue our global series on the ASEAN region by looking at Indonesia’s slowing economy. This month also features our quarterly topic “What’s Trending in the Temp Market.” We also discuss job prospects for the graduating class of 2015. Our feature article hones in on the need for simplicity in the workforce, and provides some ways to get started. Finally, we examine the long-term economic impact of the devastating earthquakes experienced by Nepal recently
DCR National Temp Wage Index
Employment Prospects for 2015 Grads
Indonesia’s Slowing Economy and Workforce Challenges
What’s Trending in the Temp Market – Q2 of 2015
Industry Highlight: Oil and Gas Index
4 Talent Management Trends
Simplicity is the Ultimate Sophistication
Nepal Earthquake: The Long-Term Economic Impact
DCR TrendLine June 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. Our June edition covers a wide range of topics, including hiring plans for small- and mid-sized businesses and contingent workforce demographic trends. Since June is the month of graduations, we take a look at how job prospects are for the class of 2014. This month’s edition focuses on the manufacturing industry, highlighting trends in the sector and sharing insight into wages. We discuss how temporary employment has become a norm not only in the U.S. labor market, but internationally as well. Our feature article this month focuses on an issue that arises when employing temporary workers – compliance – and provides ideas on how to overcome this challenge to ensure peace of mind.
DCR TrendLine March 2014 - Temporary Workforce Insightss
This month’s edition highlights what’s hot for talent acquisition and lists the fastest growing jobs in the country and where they can be found. We also continue this theme of growth by examining the emerging trends driving the increasing use of contingent workforces, particularly in the healthcare industry. And as a continuation of our monthly special feature on the BRIC countries, we turn our gaze to the Sochi Winter Olympics to discover how workers were staffed.
DCR TrendLine February 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The February issue looks at minimum wage across the country and employment in the real estate sector. We’re also checking in on the labor markets in Europe. We compare the expectations and realities of the working world for new college grads, and also present what’s trending in Q1 of 2015. Our feature article discusses the importance of paying attention to the perception that candidates have of a company. And discover the questions that arise from the ongoing growth of the non-employee workforce.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The April edition looks at the growing talent management software market and employment in the technology sector. We continue our global series on the ASEAN region by looking at talent trends in the Philippines, and also examine which countries around the world are the most worker-friendly. We explain the debate on if the U.S. economy is at full employment, and throw light on the current situation of the economy. Our feature article discusses the usage of talent analytics and delves into some common myths about big data and metrics. Finally, we reveal which industry in the country has the happiest workers.
DCR National Temp Wage Index
Full Employment: Jobs vs. Inflation
Best Practices in Recruiting for 2015
Changes in the Talent Management Software Market
Industry Highlight: Technology Index
The Philippines – Poised For Growth Through BPO
The World’s Most Worker-Friendly Countries
Measure What Matters
The Happiest Industries
DCR Trendline November 2014 - Non Employee Workforce Insight ss
This document provides a summary of trends in the staffing industry from the editorial staff of DCR TrendLine magazine. It discusses positive economic indicators including job and GDP growth. The unemployment rate dropped to 5.9% while payrolls exceeded expectations. Several industries added jobs including retail, healthcare, and information. The article also discusses wage trends, bonuses, and forecasts hiring growth in Q4 especially in accounting, finance, IT and seasonal retail positions. It highlights the large portion of the workforce consisting of independent contractors and temporary workers.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The May edition looks at wage growth in the United States and employment in the automobile manufacturing sector. We continue our global series on the ASEAN region by looking at the impact on oil prices on Malaysia’s economy. We uncover why recent indexes have been rating the U.S. economy as disappointing. Our feature article discusses the definition of innovation and provides information on how companies can get started on incorporate innovation into their organizations. Finally, we examine how the talent acquisition sector has been disrupted by changes in the way employers access and engage with talent.
DCR National Temp Wage Index
U.S. Economy: Disappointing..?
Wage Growth Across The U.S.
Industry Highlight: Automobile Manufacturing Index
What Do Millennials Want?
Malaysia: Oil Prices Pose Threat to Economy
Innovation as Usual
Recruiting Disrupted,.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The June edition looks at the impact of oil prices on employment in the oil and gas industry and trends in talent management. We continue our global series on the ASEAN region by looking at Indonesia’s slowing economy. This month also features our quarterly topic “What’s Trending in the Temp Market.” We also discuss job prospects for the graduating class of 2015. Our feature article hones in on the need for simplicity in the workforce, and provides some ways to get started. Finally, we examine the long-term economic impact of the devastating earthquakes experienced by Nepal recently
DCR National Temp Wage Index
Employment Prospects for 2015 Grads
Indonesia’s Slowing Economy and Workforce Challenges
What’s Trending in the Temp Market – Q2 of 2015
Industry Highlight: Oil and Gas Index
4 Talent Management Trends
Simplicity is the Ultimate Sophistication
Nepal Earthquake: The Long-Term Economic Impact
DCR TrendLine June 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. Our June edition covers a wide range of topics, including hiring plans for small- and mid-sized businesses and contingent workforce demographic trends. Since June is the month of graduations, we take a look at how job prospects are for the class of 2014. This month’s edition focuses on the manufacturing industry, highlighting trends in the sector and sharing insight into wages. We discuss how temporary employment has become a norm not only in the U.S. labor market, but internationally as well. Our feature article this month focuses on an issue that arises when employing temporary workers – compliance – and provides ideas on how to overcome this challenge to ensure peace of mind.
DCR TrendLine March 2014 - Temporary Workforce Insightss
This month’s edition highlights what’s hot for talent acquisition and lists the fastest growing jobs in the country and where they can be found. We also continue this theme of growth by examining the emerging trends driving the increasing use of contingent workforces, particularly in the healthcare industry. And as a continuation of our monthly special feature on the BRIC countries, we turn our gaze to the Sochi Winter Olympics to discover how workers were staffed.
DCR TrendLine February 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The February issue looks at minimum wage across the country and employment in the real estate sector. We’re also checking in on the labor markets in Europe. We compare the expectations and realities of the working world for new college grads, and also present what’s trending in Q1 of 2015. Our feature article discusses the importance of paying attention to the perception that candidates have of a company. And discover the questions that arise from the ongoing growth of the non-employee workforce.
DCR Trendline October 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The October edition covers a range of topics, including the latest employment numbers from the Bureau of Labor Statistics and the continued growth of temporary employment. October is one of the most exciting months for sports fans, and it’s only fitting that this edition’s industry highlight is centered on sports-related employment. Our other areas of focus include how the definition and image of employees has progressed over the past decade, the increasing use of social media for recruiting, and on the value of talent supply chain management in meeting organizational talent needs. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at how vendor management systems can help companies fulfill the priorities and requirements of multiple stakeholders while meeting the shared single goal of eliminating complexity to increase operational effectiveness. - See more at: http://blog.dcrworkforce.com/dcr-trendline-october-2014#sthash.jW1AtNaQ.dpuf
The document discusses a new OSHA initiative to increase protections for temporary workers. It was prompted by several temporary worker deaths in the past year. The initiative requires staffing firms and client companies to ensure temporary workers have a safe workplace and necessary safety training. Both entities may now be held liable for violations. Research shows temporary workers have higher injury risks due to lack of safety training and some employers view them as expendable. The initiative aims to address this issue and protect temporary worker safety.
DCR TrendLine January 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The January issue explores two broad themes: predictions for the upcoming year and worker wellness. We look at trends for 2015 in the IT industry, HR technology, employment and workforce happenings, and talent acquisition. We explore causes of worker burnout, and peek in on the recreational services industry. Our feature article examines the use of big data analysis in the human resources function.
The DCR TrendLine editorial staff would like to extend our wishes to you for a happy and successful new year – full of hope and joy.
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
INSIDE THIS ISSUE:
- Top IT Trends for 2015
- Disruptions in HR Technology
- Employment Trends for 2015 and Beyond
- The New Sources of Talent
- Worker Burnout
- Industry Highlight: Recreational Services Index
- Wisdom Comes From Putting Things Together
- 2015 College Grad Prospects
DCR TrendLine February 2014 – Contingent Worker Forecast and Supply Reportss
It’s hard to believe that 2014 is already well underway. In the second month of the year, the staff at TrendLine was hard at work to provide you with key insights into the temporary staffing industry. With thorough research and in-depth analysis of data, we aim to supply you with a pulse of the temporary staffing market. As usual, our articles this month uncover trends in the industry and give you hard, actionable information on contingent workforce supply and demand.
DCR Trendline November 2013 – Contingent Worker Forecast and Supply Reportss
Heading into the end of the year, after a month full of economic uncertainty and fogginess, TrendLine brings you key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what is happening in the world of contingent worker supply and demand.
Inside this issue:
1. DCR National Temp Wage Index
2. The Government Shutdown: A Crisis for Federal Workers
3. Temp Workers: Just in Time Workforce
4. In Lieu of the Jobs Report…
5. Temp Hiring to Grow in Q4
6. World Watch
RemX Workforce Perspectives Newsletter July 2017Saskia Styles
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could impact future growth.
RemX Workforce Perspectives Newsletter July 2017RemX Staffing
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could hinder future growth if not addressed.
DCR Trendline October 2013 – Contingent Worker Forecast and Supply Reportss
This document provides a summary of the fourth quarter 2013 issue of TrendLine, a contingent worker forecast and supply report. It highlights several key trends in the temporary staffing industry, including an expected surge in demand for temporary workers over the holiday season driving increased employment numbers and wages. Articles examine research showing temporary work can increase job satisfaction and an update on OSHA's initiative to expand protections for temporary workers. It also analyzes the declining US labor force participation rate and its impact, such as potentially hiding the effects of discouraged workers no longer counted in unemployment rates.
This document is the Fall 2016 edition of the Greater New Haven Economic Activity Report published by the New Haven Economic Performance Laboratory. It contains economic analyses and data series for the Connecticut and New Haven regions conducted by University of New Haven students and faculty. The report finds that while economic conditions continue to improve overall, the New Haven region's recovery continues to lag other parts of New England and the nation. It includes analyses of topics like the housing market, employment, GDP, and consumer prices.
DCR Trendline December 2013 – Contingent Worker Forecast and Supply Reportss
Welcome to the final month of 2013! The staff at TrendLine is pleased to be wrapping up our first full year of publication. It’s been an exciting year in the world of the contingent workforce. In our last issue of 2013 we once again provide you with key insights into the temporary staffing industry. Our thorough research into pivotal trends and current events, along with our in-depth analysis of contingent worker supply and demand, is designed to give you a pulse of the market.
Inside This Issue:
- DCR National Temp Wage Index
- Post Shutdown Impact and Recovery
- OSHA Asked to Further Improve Temp Worker Protections
- TrendLine in 2013
- A Look Back at 2013: Sector By Sector
Inside This Issue:
DCR National Temp Wage Index
I-Squared: Spoiling or Saving the U.S. Economy?
Economic Recovery brings Optimism to Temp Employment
Unemployment Crisis: Unearthing the Facts Behind Official Claims
Public or Private: Which Type of Job to Opt for?
U.S. employers added only 74,000 jobs in December, the weakest monthly gain since 2011. While the unemployment rate fell to 6.7%, nearly 350,000 workers left the labor force, accounting for most of the decline. Overall job growth in 2013 averaged 182,000 per month, similar to 2012 but below expectations of stronger growth. The disappointing December figures may suggest the economy and labor market remain fragile.
This document provides an overview of the job and labor market in the Lehigh Valley region as of June 2014. It includes statistics on employment, unemployment rates, major employers, in-demand occupations, and trends in key industry clusters like healthcare, manufacturing, transportation and warehousing. The unemployment rate in the Lehigh Valley metro area saw a small decrease in April 2014 compared to the previous year. While the overall number of jobs increased slightly over the past year, certain sectors like healthcare and government saw declines. The document outlines several industry clusters targeted for growth in the region, including healthcare, manufacturing, business services, information technology, and green energy.
Quarterly Economic Trends for Ohio Oil and Gas Industries - April 2014Marcellus Drilling News
A quarterly report issued by Ohio's Dept. of Jobs and Family Services issues a report on how the Ohio shale industry is faring with respect economic impacts and the number of jobs. The April 2014 edition of that report shows in the two years from Q3 2011 to Q3 2013 core shale-related industry employment (like pipeline construction and well drilling) was up 5,763 (79.0 percent). Employees in core jobs had an average wage of $71,661.
Lehigh Valley Job & Labor Market Outlook - May 2015Don Stewart
This document provides an employment snapshot and labor market overview for the Lehigh Valley region. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton Metro Area was 5.7% in March 2015, up slightly from the previous year.
- Total employment in the region is up 3,200 over the past year, with gains in transportation/warehousing and leisure/hospitality.
- The document identifies five industry clusters targeted for growth: healthcare/life sciences, diversified manufacturing, business/professional services, financial services, and green/energy related sectors.
- Major employers in the region and high demand occupations are also outlined.
Lehigh Valley Job & Labor Market Outlook - AugustDon Stewart
This document provides an employment snapshot and overview of the job and labor market for the Lehigh Valley region in Pennsylvania. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton metro area was flat at 5.9% in July 2014.
- Total employment in the metro area is up 2,400 over the past year, though jobs dropped by 400. Growth sectors include transportation and warehousing while healthcare declined.
- The document outlines trends in in-demand industries and occupations as well as largest employers in the region and their current job openings. It provides resources for further information on the local job market.
Rong Viet Securities - Investment Strategy Report April 2017Thomas Farthofer
Access to this presentation has been made possible through "Sao Bien. Room for Education", an Austrian-based non-profit organization and cooperation partner of Viet Dragon Securities.
Reprinted with the permission of Viet Dragon Securities. Not for US investors.
Rong Viet Securities - Investment Strategy Report May 2017Thomas Farthofer
In this month's strategy Report RongViet highlights quite strong first quarter results of listed companies and explains why still it might be a good idea to follow the classic statement "Sell in May".
Access to this presentation has been made possible through "Sao Bien. Room for Education", an Austrian-based non-profit organization and cooperation partner of Viet Dragon Securities.
Reprinted with the permission of Viet Dragon Securities. Not for US investors.
In 2009, Business Leaders for Michigan (BLM)
released the Michigan Turnaround Plan, a plan
on how to make Michigan a Top Ten state for
job, economic and personal income growth.
The Plan was updated in 2012 to identify the
six most distinctive assets Michigan had which
could be leveraged to accelerate growth.
These assets include the state’s engineering
prowess, geographic location, and world-class
higher education institutions, among others.
The 2013 New Michigan Report is the first in
an annual series in which Michigan’s progress
in leveraging its assets into economic growth
will be tracked. Michigan’s performance on
various metrics will be charted over time, and
compared to the results achieved in other
high-performing states.
DCR TrendLine May 2014 - Temporary Workforce Insightss
Can you believe it’s already the second quarter of the year? As the year continues to speed by, this month’s edition of TrendLine focuses on trends and predictions in the talent management industry, by looking at what’s buzzing in HR tech and examining how crowdsourcing is playing a role in the temporary staffing market. Continuing on the theme of technology, we peek at the IT job market to see how and where demand for professionals is growing. We also look into our crystal ball to give you insights into what the staffing landscape will look like in 2022. And this month, we conclude our series on the BRIC countries, by taking a glance at India and it’s potential for temporary work development. At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand, and on that note are really excited to unveil a new quarterly topic – What’s Trending in the Temp Market? – that consolidates our research into a short list of critical trends in key talent sectors of the staffing industry. Take a look and let us know what you think!
The survey found that the job market is strongly candidate-driven, with candidates having more options and being able to make more demands. Recruiters reported that many candidates are turning down offers due to other higher offers or compensation and benefits that are lower than expected. Hiring managers are taking a long time to make offers and often lose good candidates. While the job market is challenging for employers, job growth remains strong with new positions and resignations fueling hiring needs.
DCR Trendline October 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The October edition covers a range of topics, including the latest employment numbers from the Bureau of Labor Statistics and the continued growth of temporary employment. October is one of the most exciting months for sports fans, and it’s only fitting that this edition’s industry highlight is centered on sports-related employment. Our other areas of focus include how the definition and image of employees has progressed over the past decade, the increasing use of social media for recruiting, and on the value of talent supply chain management in meeting organizational talent needs. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at how vendor management systems can help companies fulfill the priorities and requirements of multiple stakeholders while meeting the shared single goal of eliminating complexity to increase operational effectiveness. - See more at: http://blog.dcrworkforce.com/dcr-trendline-october-2014#sthash.jW1AtNaQ.dpuf
The document discusses a new OSHA initiative to increase protections for temporary workers. It was prompted by several temporary worker deaths in the past year. The initiative requires staffing firms and client companies to ensure temporary workers have a safe workplace and necessary safety training. Both entities may now be held liable for violations. Research shows temporary workers have higher injury risks due to lack of safety training and some employers view them as expendable. The initiative aims to address this issue and protect temporary worker safety.
DCR TrendLine January 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The January issue explores two broad themes: predictions for the upcoming year and worker wellness. We look at trends for 2015 in the IT industry, HR technology, employment and workforce happenings, and talent acquisition. We explore causes of worker burnout, and peek in on the recreational services industry. Our feature article examines the use of big data analysis in the human resources function.
The DCR TrendLine editorial staff would like to extend our wishes to you for a happy and successful new year – full of hope and joy.
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
INSIDE THIS ISSUE:
- Top IT Trends for 2015
- Disruptions in HR Technology
- Employment Trends for 2015 and Beyond
- The New Sources of Talent
- Worker Burnout
- Industry Highlight: Recreational Services Index
- Wisdom Comes From Putting Things Together
- 2015 College Grad Prospects
DCR TrendLine February 2014 – Contingent Worker Forecast and Supply Reportss
It’s hard to believe that 2014 is already well underway. In the second month of the year, the staff at TrendLine was hard at work to provide you with key insights into the temporary staffing industry. With thorough research and in-depth analysis of data, we aim to supply you with a pulse of the temporary staffing market. As usual, our articles this month uncover trends in the industry and give you hard, actionable information on contingent workforce supply and demand.
DCR Trendline November 2013 – Contingent Worker Forecast and Supply Reportss
Heading into the end of the year, after a month full of economic uncertainty and fogginess, TrendLine brings you key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what is happening in the world of contingent worker supply and demand.
Inside this issue:
1. DCR National Temp Wage Index
2. The Government Shutdown: A Crisis for Federal Workers
3. Temp Workers: Just in Time Workforce
4. In Lieu of the Jobs Report…
5. Temp Hiring to Grow in Q4
6. World Watch
RemX Workforce Perspectives Newsletter July 2017Saskia Styles
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could impact future growth.
RemX Workforce Perspectives Newsletter July 2017RemX Staffing
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could hinder future growth if not addressed.
DCR Trendline October 2013 – Contingent Worker Forecast and Supply Reportss
This document provides a summary of the fourth quarter 2013 issue of TrendLine, a contingent worker forecast and supply report. It highlights several key trends in the temporary staffing industry, including an expected surge in demand for temporary workers over the holiday season driving increased employment numbers and wages. Articles examine research showing temporary work can increase job satisfaction and an update on OSHA's initiative to expand protections for temporary workers. It also analyzes the declining US labor force participation rate and its impact, such as potentially hiding the effects of discouraged workers no longer counted in unemployment rates.
This document is the Fall 2016 edition of the Greater New Haven Economic Activity Report published by the New Haven Economic Performance Laboratory. It contains economic analyses and data series for the Connecticut and New Haven regions conducted by University of New Haven students and faculty. The report finds that while economic conditions continue to improve overall, the New Haven region's recovery continues to lag other parts of New England and the nation. It includes analyses of topics like the housing market, employment, GDP, and consumer prices.
DCR Trendline December 2013 – Contingent Worker Forecast and Supply Reportss
Welcome to the final month of 2013! The staff at TrendLine is pleased to be wrapping up our first full year of publication. It’s been an exciting year in the world of the contingent workforce. In our last issue of 2013 we once again provide you with key insights into the temporary staffing industry. Our thorough research into pivotal trends and current events, along with our in-depth analysis of contingent worker supply and demand, is designed to give you a pulse of the market.
Inside This Issue:
- DCR National Temp Wage Index
- Post Shutdown Impact and Recovery
- OSHA Asked to Further Improve Temp Worker Protections
- TrendLine in 2013
- A Look Back at 2013: Sector By Sector
Inside This Issue:
DCR National Temp Wage Index
I-Squared: Spoiling or Saving the U.S. Economy?
Economic Recovery brings Optimism to Temp Employment
Unemployment Crisis: Unearthing the Facts Behind Official Claims
Public or Private: Which Type of Job to Opt for?
U.S. employers added only 74,000 jobs in December, the weakest monthly gain since 2011. While the unemployment rate fell to 6.7%, nearly 350,000 workers left the labor force, accounting for most of the decline. Overall job growth in 2013 averaged 182,000 per month, similar to 2012 but below expectations of stronger growth. The disappointing December figures may suggest the economy and labor market remain fragile.
This document provides an overview of the job and labor market in the Lehigh Valley region as of June 2014. It includes statistics on employment, unemployment rates, major employers, in-demand occupations, and trends in key industry clusters like healthcare, manufacturing, transportation and warehousing. The unemployment rate in the Lehigh Valley metro area saw a small decrease in April 2014 compared to the previous year. While the overall number of jobs increased slightly over the past year, certain sectors like healthcare and government saw declines. The document outlines several industry clusters targeted for growth in the region, including healthcare, manufacturing, business services, information technology, and green energy.
Quarterly Economic Trends for Ohio Oil and Gas Industries - April 2014Marcellus Drilling News
A quarterly report issued by Ohio's Dept. of Jobs and Family Services issues a report on how the Ohio shale industry is faring with respect economic impacts and the number of jobs. The April 2014 edition of that report shows in the two years from Q3 2011 to Q3 2013 core shale-related industry employment (like pipeline construction and well drilling) was up 5,763 (79.0 percent). Employees in core jobs had an average wage of $71,661.
Lehigh Valley Job & Labor Market Outlook - May 2015Don Stewart
This document provides an employment snapshot and labor market overview for the Lehigh Valley region. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton Metro Area was 5.7% in March 2015, up slightly from the previous year.
- Total employment in the region is up 3,200 over the past year, with gains in transportation/warehousing and leisure/hospitality.
- The document identifies five industry clusters targeted for growth: healthcare/life sciences, diversified manufacturing, business/professional services, financial services, and green/energy related sectors.
- Major employers in the region and high demand occupations are also outlined.
Lehigh Valley Job & Labor Market Outlook - AugustDon Stewart
This document provides an employment snapshot and overview of the job and labor market for the Lehigh Valley region in Pennsylvania. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton metro area was flat at 5.9% in July 2014.
- Total employment in the metro area is up 2,400 over the past year, though jobs dropped by 400. Growth sectors include transportation and warehousing while healthcare declined.
- The document outlines trends in in-demand industries and occupations as well as largest employers in the region and their current job openings. It provides resources for further information on the local job market.
Rong Viet Securities - Investment Strategy Report April 2017Thomas Farthofer
Access to this presentation has been made possible through "Sao Bien. Room for Education", an Austrian-based non-profit organization and cooperation partner of Viet Dragon Securities.
Reprinted with the permission of Viet Dragon Securities. Not for US investors.
Rong Viet Securities - Investment Strategy Report May 2017Thomas Farthofer
In this month's strategy Report RongViet highlights quite strong first quarter results of listed companies and explains why still it might be a good idea to follow the classic statement "Sell in May".
Access to this presentation has been made possible through "Sao Bien. Room for Education", an Austrian-based non-profit organization and cooperation partner of Viet Dragon Securities.
Reprinted with the permission of Viet Dragon Securities. Not for US investors.
In 2009, Business Leaders for Michigan (BLM)
released the Michigan Turnaround Plan, a plan
on how to make Michigan a Top Ten state for
job, economic and personal income growth.
The Plan was updated in 2012 to identify the
six most distinctive assets Michigan had which
could be leveraged to accelerate growth.
These assets include the state’s engineering
prowess, geographic location, and world-class
higher education institutions, among others.
The 2013 New Michigan Report is the first in
an annual series in which Michigan’s progress
in leveraging its assets into economic growth
will be tracked. Michigan’s performance on
various metrics will be charted over time, and
compared to the results achieved in other
high-performing states.
DCR TrendLine May 2014 - Temporary Workforce Insightss
Can you believe it’s already the second quarter of the year? As the year continues to speed by, this month’s edition of TrendLine focuses on trends and predictions in the talent management industry, by looking at what’s buzzing in HR tech and examining how crowdsourcing is playing a role in the temporary staffing market. Continuing on the theme of technology, we peek at the IT job market to see how and where demand for professionals is growing. We also look into our crystal ball to give you insights into what the staffing landscape will look like in 2022. And this month, we conclude our series on the BRIC countries, by taking a glance at India and it’s potential for temporary work development. At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand, and on that note are really excited to unveil a new quarterly topic – What’s Trending in the Temp Market? – that consolidates our research into a short list of critical trends in key talent sectors of the staffing industry. Take a look and let us know what you think!
The survey found that the job market is strongly candidate-driven, with candidates having more options and being able to make more demands. Recruiters reported that many candidates are turning down offers due to other higher offers or compensation and benefits that are lower than expected. Hiring managers are taking a long time to make offers and often lose good candidates. While the job market is challenging for employers, job growth remains strong with new positions and resignations fueling hiring needs.
DCR Trendline September 2013 – Contingent Worker Forecast and Supply Reportss
We bring you the Trendline Report for September 2013, offering key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a pulse of the market. Rigorous examination of contingent workforce supply and demand provides you with predictive forecasts of wage trends and market status.
The document discusses how the executive, managerial, and professional job market continues to be candidate-driven due to increased job opportunities and talent shortages. Top performers have an advantage with multiple job offers to consider, allowing them to reject less desirable positions. However, retention is challenging for companies as talented candidates feel more confident changing jobs due to lengthy hiring processes and uncompetitive salaries at some employers. Unless companies improve their recruitment and retention strategies, they will struggle to attract and keep top talent in this favorable environment for candidates.
The document discusses strategies for employee retention, specifically career development programs. It notes that while salary increases are modest, advancement opportunities are a key reason employees change jobs. It recommends companies focus on mentoring, training, and clear career paths to retain top talent as this allows employees to take on more responsibility and earn higher pay over the long run. Specific tips provided include brainstorming career path programs, discussing mobility during hiring, and promoting success stories to attract candidates.
DCR Trendline December 2014 Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The December issue looks to the future to provide predictions for HR in the next decade, and follows-up on our predictions of workforce trends in 2014. We’re also exploring the dynamics of the candidate-driven recruiting market, the top cities for a positive work-life balance, and the difference between talent networks and talent communities. Our industry focus this month is on aerospace employment and workforce challenges.
The DCR TrendLine editorial staff would like to extend our wishes for a happy holiday season with continued peace, joy, and success in 2014!
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
Hello 2014! As we approach a fresh year, the editorial staff at TrendLine is excited to share our analysis and insights into the staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what’s happening in the world of contingent worker supply and demand and talent acquisition.
- DCR National Temp Wage Index
- 2014: What to Expect in the Workforce
- The Manufacturing Revival
- Temp Jobs Continue Steady Upward Trend
- Special Topic: Brazil e-commerce Market Watch
The document summarizes key findings from the July Bureau of Labor Statistics employment report. It notes that while 162,000 new jobs were added in July and the unemployment rate edged down to 7.4%, many of the new jobs were in lower-paying industries. It also reports that the number of long-term unemployed and marginally attached workers remains high. Overall, the report suggests the job market is not improving rapidly but there was also no clearly negative news that would threaten the Federal Reserve's economic stimulus programs.
ADJUSTING TO THE CHANGING MARKET
Good News!
Employment numbers revised upward for July and August in the Bureau of Labor Statistic reports and a robust report for September clearly indicate
The document summarizes key findings from a recent Bureau of Labor Statistics report on employment in July. Some key points:
- Nonfarm payroll employment increased by 162,000 in July and the unemployment rate edged down to 7.4%. Several industries like retail trade and food services saw new job growth.
- The number of long-term unemployed (over 27 weeks) was little changed at 4.2 million, though it has declined by 921,000 over the past year.
- The civilian labor force participation rate was unchanged at 63.4% in July. No significant changes in other employment indicators like involuntary part-time employment or those marginally attached to the labor force were reported.
-
- The employment landscape is changing as job numbers have been revised upward and the September jobs report showed strong growth.
- The market is becoming more candidate-driven, so companies need to revise hiring strategies to attract candidates, such as considering less experience for roles if it is not essential.
- Using contract staffing/temporary workers is becoming a more viable option, as it allows companies to meet changing staffing needs in a cost-effective way while providing work for candidates. Contract workers are no longer viewed as just secondary employees and many companies expect 50% of their workforce to be contingent hires by 2020.
The document summarizes the February 2014 jobs report. It states that 175,000 new jobs were added in February, less than the average in 2013 but more than December and January. The unemployment rate rose slightly to 6.7% as more people entered the labor force. Gains were led by professional and business services adding 79,000 jobs. The report provides an overview of job growth over previous months and shows that while growth is positive, conditions remain cool with expectations of warming in coming months.
The document provides predictions for HR trends in 2022. Key points include:
1) The economy and job market are expected to grow strongly despite a constrained labor force, exacerbating existing skills shortages and talent constraints for companies.
2) Hybrid work models will continue to evolve, and the emerging metaverse may transform virtual collaboration, meetings, and training.
3) Learning, skills development, and career pathways will become increasingly important priorities for companies to reskill and upskill their workforce in a tight labor market.
Connections As A Tool For Growth: Evidence From The LinkedIn Economic GraphLinkedIn
New evidence from LinkedIn’s current network, presented here, demonstrates the economic value of connections. We calculate an “index of connectedness” for each of 275 metro regions in the U.S., based on the average number of connections per LinkedIn member in that region. The higher the index of connectedness, the more dense the connections between LinkedIn members in that region. Using data from the Bureau of Labor Statistics, we calculate the four-year and one-year nonfarm payroll job growth for those metro regions.
This report was authored by Dr. Michael Mandel, with research supported by LinkedIn. November 2014.
Montague Consult Global Recruitment Survey Q3 2012DavidGMontague
The document provides an overview of hiring trends and employment outlooks across different regions in Q3 2012 based on surveys. Key points include:
- Hiring is expected to remain positive in the Americas, with the strongest outlooks in Brazil, Panama, and Peru and weakest in Argentina and US.
- In Asia Pacific, hiring intentions are strongest in India, Taiwan, and Singapore, though outlooks weakened in 5 of 8 countries year-over-year. Hiring is expected to be strongest in India's services, retail, and manufacturing sectors.
- The document then provides more detailed analyses of hiring trends and outlooks in individual countries across the Americas and Asia Pacific regions.
The document discusses Mark Zuckerberg's hiring rule of only hiring people he would work for and encourages assessing one's own hiring rules. It provides examples of how companies like Google have benefited from reevaluating lengthy hiring processes that deter candidates. Tips are offered for periodically reviewing hiring rules and practices to ensure they attract and retain high-quality talent that is a good fit.
The document provides an overview of the economy and work from a sociological perspective. It begins with an outline of the key topics to be covered, including different economic systems, contemporary world economies, perspectives on the US economy and work, unemployment, worker activism, and the future of the global economy. It then provides definitions of key economic concepts like the economy, labor, capital, and goods and services. The remainder of the document discusses functionalist perspectives on the economy, characteristics of postindustrial economies, facts about job growth and security, unemployment as an issue, and examples of struggling industries.
Similar to DCR TrendLine September 2014 - Non Employee Workforce Insight (18)
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This solution spotlight utilizes Ardent Partners longstanding contingent workforce management ("CWM") technology and best practices research and combines it with Ardent's perspective on the Vendor Management System(VMS) marketplace and recent market conducted on the same topics.The first half of this report highlights the evolution of the non-employee workforce industry,while the second half focuses on a deep profile of solution provider DCR Workforce.
The mobile workforce has become 'business as usual'. In order to get the most value from your talent base, you need to ensure that your workers stay connected regardless of where business takes them. Smart Track is always on, from anywhere, at any time. Users can conduct all transactions - from requirements creation to worker offboarding - using any device, from any location offering an Internet connection.
DCR Trendline August 2013 – Contingent Worker Forecast and Supply Reportss
Each month, DCR Workforce brings you greater insight into the temporary staffing market. The Trendline Report, offered to you at no charge, provides original research and cutting-edge analysis of contingent worker demand and supply, and predictive forecasts of wage trends. We provide the context you need to set the course for what happens next.
Inside This Issue:
DCR National Temp Wage Index
The Temp Workforce: Multiple Angles
What’s Driving the Temporary Workforce?
Temporary Jobs: Hiring is On
VMS and MSP Hit a Plateau
Mission 2015: Buyers – Get Ready, ACA Ahead
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The contingent workforce landscape is changing. As the use of temporary workers continues to grow, their impact on your business increases. Program quality, traditionally defined by the speed and cost of using agency contractors, now also addresses the value that an extended workforce can bring to your organization. Smart Track translates volumes of data that you generate each day into the valuable insights you need to drive performance.
Through Smart Track, DCR offers a big data solution - a single platform for viewing and manipulating transactional and interactional data from different areas of your company to evaluate the impact of temporary talent on your overall performance.
DCR Compliance Services bring you peace of mind by safeguarding against the three areas of temporary workforce risks: regulatory non-compliance, failure to comply with corporate policies, and supplier breach of contract.
Our services include classification assessments, reclassification, credentials verification, contract negotiation, certification status monitoring, training and guidance, and auditing services.
DCR's Aerospace & Defense Solutions enable you to prosper in this highly regulated, innovation-driven environment. Innovative approaches to labor sourcing and retention provide needed technical talent. Smart Track modules are custom-made for these highly regulated industries, offering flexible work scheduling and payment processing; built-in DoD, SCA and PCA compliance workflows; and comprehensive procurement and management of SOW project teams.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
White Paper: Complying With Regulations Regarding Temporary Workersss
The use of temporary workers is growing in the United States, now representing 22% of the total workforce. Temporary workers are referred to as freelancers, non-employees, indirect workers, agency contractors, consultants, interns, independent contractors, and many other terms.
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Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
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Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
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• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
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Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
2. Can you believe it’s already the last month of the third quarter? As we head towards the last few months of 2014, the editorial staff at DCR TrendLine is eager to
share our in-depth research and insights into developments in the staffing industry.
By analyzing the supply and demand trends of the contingent labor market, the DCR National Temp Wage Index provides you with insight into the relative
movement of temporary wage rates in the U.S. economy. This month, we look at the latest employment numbers from the Bureau of Labor Statistics and discuss
the recent gains in temporary help services jobs.
A topic that’s been gaining a lot of attention lately is workplace flexibility.We explore the current status of workplace flexibility in the United States, and the benefits
that it can provide to both employers and workers. We also discuss the“right to request”legislation that has been passed in several counties, and is creating a buzz
in the U.S.
Recently, the Boston Consulting Group published a study on projected workforce supply and demand in 25 major economies through 2030. We examine this
research to discover if we are heading towards a global labor shortage, and which countries will be the most affected.
Utilization of temporary workers has been growing across multiple industries, and in some of the country’s largest metropolitan areas the post-recession recovery
of the temp industry is even higher than that of overall national recovery. We identify the top metro cities that are expected to provide job opportunities for
contingent workers through 2018.
In the second quarter of the year, we launched a new quarterly topic – “What’s Trending in the Temp Market” – that consolidates our research into a short list of
critical trends in key talent sectors of the staffing industry and in human resources. This month, we present you with what’s trending in Q3.
Last month, we wrote about the demographics and motivations of the newest generation of workers entering the labor market – Generation Z. Our next article
provides tips for employers on efficiently engaging and managing these workers.
Many workers often wonder if they’re being compensated fairly compared to their peers. Our article, Peeking into Salary Satisfaction, looks at the satisfaction of
workers with their current wages.
September is back-to-school month in many U.S. cities. To commemorate the start of the new school year, our monthly industry focus is on education service with
the DCR TrendLine Education Services Employment Index. We share with you recent statistics on education employment and wages, and on market growth for the
industry. Look for our focus on the job title of Elementary School Teachers.
Our final article this month is our feature article. For many decades, the word“global”has been a buzzword for companies. However, some experts believe that there
is no global market but rather a set of globally connected local businesses. We discuss how HR can be organized and designed to better meet the global objectives
of companies, while still taking local actions.
Ammu Warrier
Ammu Warrier, President
“
NOTE FROM THE EDITOR
INSIDE THIS ISSUE “The six-month growth rate in the employment
trends index is the strongest in over two
years, suggesting solid job growth is likely to
continue in the coming months. The pickup in
economic activity in recent months will likely
increase the need and willingness of employers
to accelerate hiring.” ~Gad Levanon, Director of
Macroeconomic Research at The Conference
Board
1
Note from the Editor...............................................................................................................................................page 1
DCR National Temp Wage Index..........................................................................................................................page 2
Workplace Flexibility..............................................................................................................................................page 6
Global Labor Shortage...........................................................................................................................................page 12
Top 7 Metro Cities for Contingent Workers.....................................................................................................page 15
What’s Trending in the Temp Market?...............................................................................................................page 17
Engaging and Managing Gen Z Workers...........................................................................................................page 18
Peeking Into Salary Satisfaction..........................................................................................................................page 20
Industry Highlight: Education Services Index.................................................................................................page 22
Globally Localizing HR............................................................................................................................................page 27
Methodology.............................................................................................................................................page 32
References.................................................................................................................................................page 33
About DCR..................................................................................................................................................page 34
3. DCR NATIONAL TEMP WAGE INDEX
“
Projected hourly wages for temp workers
continue to trend upwards. According
to the latest figures released by the U.S.
Bureau of Labor Statistics (BLS),
compensation costs for civilian workers
increased 0.7 percent for the 3-month
period ending June 2014. Compensation
for private industry workers increased
2.0 percent over the year. Wages and
salaries increased 1.9 percent for the
current 12-month period ending June
2014.
“This report is consistent with a moderation in economic growth in the second half of the year. This is a labor market that is growing solidly, just not quite
as fast as in prior months.”~Dean Maki, Chief United States Economist at Barclays.
2
U.S. Jobs Gained or Lost (in thousands)
4. DCR NATIONAL TEMP WAGE INDEX
3
In July 2014, employers added 209,000 jobs, while the unemployment rate rose to 6.2 percent from 6.1 percent in the previous month. The Labor
Department attributes this increase to the 329,000 Americans who returned to search for jobs, including many who had initially dropped out of the
workforce. July’s figures marked the sixth straight month of 200,000-plus employment increases.
While companies continue to be cautious due to political instability overseas and concerns about the new health care law, economists expect solid
job growth throughout the remainder of the year. The Conference Board’s U.S. employment trends index increased in July to a reading of 120.31, up
from June’s reading of 119.92 and 6.6 percent higher than a year ago. The Survey of Professional Forecasters released by the Federal Reserve Bank of
Philadelphia is optimistic, predicting that nonfarm payroll employment will have job gains at a monthly rate of 204,800 in 2014 and 214,000 in 2015.
Professional and business services led the job gains, adding 47,000 jobs, while manufacturers added 28,000; retailers, 27,000; construction, 22,000; and
leisure and hospitality, 21,000. Most of these jobs were for full-time positions.
According to analysis by the National Employment Law Project for the Washington Post, nearly 40 percent of the jobs created in the past six months
have been in high-wage industries. In the years immediately following the recession, the economies experienced job polarization – growth at the high
and low ends of the pay scale with little movement in the middle. Economists attribute this to new technologies replacing some workers, and increased
competition from a global labor market. While all types of businesses reduced jobs during the recession, low-wage industries were the fastest to recover.
The retail and food services industries now employ 2.3 million more workers than they did in 2007.
5. DCR NATIONAL TEMP WAGE INDEX
4
JUNE 2014 EMPLOYMENT RECAPJob Creation by Wage Group
Labor Snapshot for July 2014
Source: NY Times
“
“I often hear that the recovery is only in low-wage jobs.That is categorically inaccurate.This recovery is creating a lot of good jobs.”~Thomas E. Perez, Labor
Secretary of the United States.
6. 5
DCR NATIONAL TEMP WAGE INDEX
The U.S. added 8,500 temporary help services jobs in July 2014, and the market share of temporary help services jobs (temporary jobs as a percent of total
employment) increased to an all-time high of 2.07 percent.
Year-over-year growth in temporary jobs slowed to 8.13 percent, from 8.2 percent in June and 8.5 percent in May.
According to the 2014 ASA Staffing Employee Survey by the American Staffing Association, nearly 90 percent of staffing employees said that temporary
or contract work makes them more employable. Among the respondents, 22 percent stated that work schedule flexibility was an important reason for
choosing temporary employment. Almost 99 percent of temporary and contract employees looking for permanent jobs are able to achieve this objective.
Source: BLS
Temp Help Services Jobs
TEMP JOB GAINS
7. WORKPLACE FLEXIBILITY
Recently, a topic that’s been trending in the workforce is workplace flexibility. Various forms of workplace flexibility are being explored in research studies,
public policy changes, and broad business strategies.
The Sloan Center on Aging and Working at
Boston College provides a commonly-accepted
definition for workplace flexibility: “Flexibility
is about an employee and an employer
making changes to when, where and how a
person will work to better meet individual
and business needs. Flexibility enables both
individual and business needs to be met through
making changes to the time (when), location
(where) and manner (how) in which an employee
works. Flexibility should be mutually beneficial
to both the employer and employee and result in
superior outcomes.”
6
WHAT IS WORKPLACE
FLEXIBILITY?
“
“It’s time to do away with workplace policies that belong in a ‘Mad Men’ episode. By exploiting technology and acknowledging the
many overlapping responsibilities workers face, businesses can boost productivity, improve employee morale, and act as model
corporate citizens.”~Barack Obama, President of the United States.
Types of Workplace Flexibility
Source : Sloan Center
8. 7
WORKPLACE FLEXIBILITY
According to the Sloan Center, in 2010, most U.S. workers were employed in traditional work environments, where they were expected to work a defined
number of hours, with minimal control over when and where to work, and with few opportunities for time off. However, this model has evolved. A 2013
study of 500 full-time workers by the Flex+Strategy Group found that 97 percent of respondents reported having some form of work-life flexibility. Of
those who had it, 55 percent said they used informal occasional flexibility, and 42 percent had a formal agreement.
However, the 2014 Families and Work Institute Survey shows that further progress in workplace flexibility is possible. Approximately 62 employers report
not allowing some employees to work regular paid hours at home on a regular basis. And 60 percent report not allowing some employees to control
which shifts they work.
In all private industry sectors combined, approximately one-third of employers feel that they have established options for workers to work in a flexible
manner. Compared to all other sectors, retail organizations provide the greatest flexible work options. Meanwhile, in manufacturing, only one in five
organizations have established options and policies that allow employees to work in a flexible manner. Some industries, such as healthcare and social
services, are proactive in encouraging employees to discuss workplace flexibility with supervisors.
In general, the public sector offers more flexible workplace programs than the private sector. The federal government has been a leader in
initiating and implementing flexible work options in many of its agencies. Employees of the federal government in many agencies have the option of
flexible scheduling, compressed workweeks, and telework.
CURRENT STATUS OF U.S. WORKPLACE FLEXIBILITY
“
“The most common industries in which we see flexible and work-from-home job listings are medical/health, customer service, com-
puter & IT, education/training, administrative and sales.”~Sara Sutton Fell, CEO of FlexJobs
9. WORKPLACE FLEXIBILITY
8
CURRENT STATUS OF U.S. WORKPLACE FLEXIBILITY
Prevalence of Flexibility Programs, by Industry
Source: Work at Work
Due to the economic recession, many employers increased their offerings of workplace flexibility in order to reduce labor costs. These
measures included increasing telecommuting, shifting employees to contract work, offering buyouts or other inducements for early
retirement, and encouraging phased retirement.
10. 9
WORKPLACE FLEXIBILITY
BENEFITS OF WORKPLACE FLEXIBILITY FOR EMPLOYERS
With an evolved environment due to technology, social and work process changes over the last decade, labor experts have been building a case for
increased workplace flexibility. A 24/7 global workforce that is more diverse presents new challenges and opportunities to workforce planning and
the design of the physical workplace.
Organizations are engaging growing numbers of virtual and remote workers, and these employees and contractors may define ‘workplace’ as a
home office, on site with clients and colleagues, on the road, or even a local coffee shop, or shared office lease space. This transforms the traditional
definition of a workplace as a single, static location such as a corporate office to a dynamic, fluid combination of physical and virtual spaces with
technology as a key enabler.
Employers increasingly report that the recruitment and retention of a skilled workforce is an important challenge. Research by labor experts shows
that organizations with workers who are less stressed and more committed and productive are better able to recruit and retain talent.
Studies have shown that workers with access to flexible work arrangements tend to be more satisfied, committed, and engaged with their job. This
leads to increased innovation, quality, productivity, and market share. Research by the Corporate Leadership Council found a correlation between
a culture of flexibility and a worker’s discretionary efforts, where flexibility has a direct impact on worker commitment. The study found that every
10 percent improvement in commitment can increase a worker’s level of discretionary effort by 6 percent and performance by 2 percent, and that
highly committed employees perform at a 20 percent higher level than non-committed employees. Additionally, every 10 percent improvement in
commitment can decrease an employee’s probability of departure by 9 percent.
From a cost perspective, providing workplace real estate is expensive for employers. Utilization data shows that workers are only at their desks 40 to
50 percent of the core working day, which provides the opportunity for businesses to use less space and reduce cost through a different approach.
In the U.S., Aetna, the health insurance company, saw over $78 million in reduced real estate costs resulting from telecommuting workers.
Top Business Reasons for Offering Flexible Work Options
Source: The Sloan Center
11. WORKPLACE FLEXIBILITY
10
BENEFITS OF WORKPLACE FLEXIBILITY FOR WORKERS
THE CHALLENGES OF WORKPLACE FLEXIBILITY
Workers report that they are more productive and engaged when they are able to balance the demands of their work with other aspects of their
lives. A study of over 19,000 employees at nine companies in various industries found that stress and burnout were lower among workers engaged
in workplace flexibility arrangements.
Telework, especially, has been linked to increased loyalty and productivity. A survey by Staples Advantage found that 96 percent of telecommuters
said that they feel better and more productive when they work from home. When asked to draw comparisons, they said that their stress levels had
dropped 25 percent on average and overall happiness had increased 28 percent. And without the commute to the office (an average 77-mile round
trip for respondents), 76 percent were more willing to put in extra time on work. More than 80 percent said that they maintained a better work/life
balance with telecommuting. Some telecommuters (40 percent) said they would be willing to take a pay cut rather than stop telecommuting.
The need for workplace flexibility is especially high for low-income workers. Over 57 percent of low-income families are headed by single parents,
of whom the vast majority work at least one job.
Often employers and workers resist implementing workplace flexibility due to challenges that arise. Some of the reasons for resistance to flexible
work arrangements are:
• Less effective communication and collaboration
• Some flexible arrangements are not appropriate for all people, jobs, or industries
• Unintended impact to organizational culture due to dispersed workers
• Worker burnout due to feeling constantly “plugged in”
• Difficulty in building effective working relationships among dispersed teams
• Negative impact on productivity
• Perception of loss of control by managers and supervisors
• Time lag in responding to emergencies
• Lack of technology availability for workers to have flexible work arrangements
• Abuse of flexible work arrangements
• Low support or direction from HR
• Ambiguous or unclear policies and guidelines
• Distractions from a non-traditional work environment
• Limited social interaction for telecommuting workers
12. WORKPLACE FLEXIBILITY
11
“RIGHT TO REQUEST”
In 2013, Vermont passed an “equal pay” law that provided employees with the right to request flexible working arrangement or predictable work schedules. San
Francisco, in October 2013, became the first city in the U.S. to pass a similar law where workers can request changes to their work schedules to care for family
members. Montana and Oregon have also passed similar legislation.
These “right to request” laws are becoming a step towards workplace flexibility by providing a formal mechanism for workers and employers to discuss workplace
flexibility options. While these do not mandate a right to workplace flexibility, they do give workers the right to request flexibility.
Other countries have implemented similar laws that are considered to be successful. In the United Kingdom, a right to request policy went into effect in 2003 for
workers who had children who were disabled or under six years of age. It was expanded in 2007 to include caregivers, in 2009 to include parents with children under
17, and in 2011 to include parents with children under 18. Over this time, the number of workers with flexible schedules in the U.K has increased. While employers
have the discretion to deny requests, only 10 percent have been turned down. In a survey, 70 percent of employers say that the flexibility has helped them recruit
better workers and keep employees engaged and motivated. In July 2014, this legislation was expanded again so that every company in the U.K. was required to
offer and consider a request for flexible working arrangements from any employee (not just parents and caregivers). The law motivates and encourages employers
to offer flexibility, with nine specific business reasons detailed for which an employee’s request might be turned down. New Zealand and Australia also have similar
“right to request” policies.
In June 2014, U.S. President Barack Obama issued a Presidential Memorandum directing every federal agency to expand access to flexible work schedules and
give their employees the “right to request”. Within 120 days, federal agencies have to understand the new policies, comply, communicate and be ready to offer the
program with its clearly defined process to their entire workforce. This will impact over four million federal employees.
Similarly, New York City Comptroller, Scott Stringer, issued a 20-page report in June 2014, recommending “right to request” flexible work legislation for both the
public and private sector in New York City.
“Most of our days consist of work, family, and
not much else, and those two spheres are
constantly interacting with each other.” ~Barack
Obama, President of the United States
“For New York City to remain an economic engine, it must actively
compete with other global cities for top talent and business investment.
Central to that effort is a collective realization that employers and
employeesbenefitfrompoliciesthatseefamilyandworkascomplementary,
rather than competitive parts of a balanced life.” ~Scott Stringer,
Comptroller of New York City
“
13. GLOBAL LABOR SHORTAGE
12
“In the 20-year productivity scenario, we
calculated $10 trillion of lost GDP.” ~The Boston
Consulting Group
“Recently The Boston Consulting Group published a study on projected workforce supply and demand in 25 major economies through 2030.
Currently, these countries account for 65 percent of the world’s population and more than 80 percent of total world GDP.
The study revealed that between 2020 and 2030 there will be a global labor shortage. Of the four BRICS countries (Brazil, India, Russia, China, and
South Africa), only India and South Africa will not experience a shortage of labor. While in 2020 many countries will have a surplus, this will turn into
a huge shortage by 2030. The potential impact of this labor shortage was calculated by multiplying the labor gap figures for each country by labor
productibity to reach the “dollar value of GDP not created”, which is $10 trillion of lost GDP.
14. GLOBAL LABOR SHORTAGE
13
DEALING WITH A SURPLUS OR SHORATAGE
SOME COUNTRIES AT A GLANCE…
A surplus of workers leads to unemployment and attrition of skills, which can ultimately reduce an economy’s competitiveness. A labor surplus is
mitigated by boosting economic growth, which can be tackled by government- and business-sponsored vocational training and job qualification
programs, educational programs, and reducing informal employment.
Meanwhile, a shortage in available labor means that countries cannot meet their growth targets. To sustain economic growth, countries could strive
to boost productivity through capital investments, increase labor participation rates, increase immigration and mobility, and encourage higher birth
rates.
Germany
Germany will have a shortage of up to 2.4 million workers by 2020, and 10 million by 2030. Overall, Germany’s labor supply is calculated to shrink
from approximately 43 million people today to 37 million in 2030. This is attributed to a lower birthrate, immigration policy, lower hours of work per
year, and a low labor force participation rate of women and the elderly.
Brazil
Brazil will be short by 2 million workers in 2020, but by 2030 will have a labor deficit of up to 0.9 million. Slowing population growth and an aging
population are reasons for the changing demographics. Additionally, much of the country’s working-age population is underqualified.
South Korea
South Korea is expected to experience a significant labor shortage, due to its rapidly aging population. By 2040, South Korea is expected to have the
oldest population of the OECD countries.
China
China is expected to have a surplus of 55.2 to 75.3 million workers in 2020, but this will change in the following decade with an expected shortage
of up to 24.5 mllion workers by 2030. This shortage is anticipated as a consequence of its one-child-per-family policy.
South Africa
South Africa will have a steady surplus of workers with 6.5 million in 2020 and between 6.2 and 9.2 million by 2030. This large excess of workers,
combined with the current 50 percent poverty rate and infrastructure needs can lead to serious workforce challenges, with high unemployment
expected.
U.S.
The U.S. will have a surplus of between 17.1 and 22 million people by 2020, and is unlikely to face shortages with a projected surplus of 7.4 million
workers by 2030. This surplus is attributed to a relatively high birthrate and a liberal immigration policy. To avoid high unemployment, the U.S. would
have to better utilize its workforce and increase economic activity, along with taking measures to increase entrepreneurship, “in-source” oversea
jobs, and upgrade workers’ skills.
16. TOP 7 METRO CITIES FOR CONTINGENT WORKERS
15
FINANCIAL SERVICES SENTIMENTThe temporary help services industry suffered greatly during the recession, losing almost 750,000 jobs from 2007 to 2009. However, staffing agencies have recovered
over the past few years. Temp employment passed its pre-recession peak in 2013, and is expected to encompass over 3 million jobs by 2017.
Temp Employment, During and Post-Recession
Source: CareerBuilder & EMSI
17. TOP 7 METRO CITIES FOR CONTINGENT WORKERS
The BLS defines the title of ‘Investment bankers’ as a financial specialist utilized by banks to attract and service the financial needs of
clientele, including public and private companies, governments, non-profits and wealthy individuals. As of 2012, the employment estimate for this
occupation is 542,100 with an average annual wage of $169,850. Careers in Finance, an Internet service providing comprehensive information on
specialty business careers forecasts a salary range of $100,000 to $150,000 annually for first-year investment banking analysts. The job title has a
positive job outlook, and is expected to grow by 15 percent from 2010 to 2020.
16
Highest Paying States for Investment Bankers
JOB TITLE FOCUS - INVESTMENT BANKERS
In some of the country’s largest metropolitan areas, the revival of the temp industry has been even higher than that of the overall national recovery. From 2013 to
2018, eighteen of the country’s fifty most populous metropolitan areas are anticipated to surpass the national growth rate of 20 percent for temporary help services.
CareerBuilder and Economic Modeling Specialists International (EMSI) identified the fastest-growing occupations inside the staffing industry for the top metros
expected to grow the fastest through 2018.
Raleigh, North Carolina
Raleigh has a 43 percent projected growth rate through 2018. In this metro area, a 50 percent growth rate is anticipated for licensed practical and
licensed vocational nurses.
Kansas City, Missouri
Temp employment in Kansas City is expected to grow by 33 percent. Sales representatives are expected to have the highest growth rate at 36 percent.
Indianapolis-Carmel-Anderson, Indiana
A growth rate of 32 percent is expected by 2018. Construction laborers will see the largest growth at 39 percent, followed by computer systems
analyst at 37 percent.
Memphis, Tennessee and Orlando-Kissimmee-Sanford, Florida
Both Memphis and Orlando-Kissimmee-Sanford are expected to have a growth of 30 percent through 2018. In Memphis, sales representative
occupations are expected to grow by 40 percent, while in Orlando-Kissimmee-Sanford, machinists are projected to have a 37 percent growth rate.
Seattle-Tacoma-Bellevue, Washington; Sacramento-Roseville-Arden-Arcade, California, and Nashville-Davidson-Murfreesboro-Franklin,
Tennessee
All three metro areas are projected to have a temp employment growth of 29 percent. In Seattle-Tacoma-Bellevue, machinists are expected
to grow by 42 percent. Licensed practical and licensed vocational nurses will grow by 37 percent in Sacramento-Roseville-Arden-Arcade; and in
Nashville-Davidson-Murfreesboro-Franklin, registered nurses will have a job growth of 45 percent.
Jacksonville, Florida
Jacksonville has a 28 percent expected growth rate through 2018. In this metro area, a 34 percent growth rate is anticipated for licensed practical and
licensed vocational nurses.
Riverside-San Bernardino-Ontario, California
Temp employment in Riverside-San Bernardino-Ontario is expected to grow by 26 percent by 2018. Machinists will have the largest job growth at 33
percent.
1.
2.
3.
4.
5.
6.
7.
18. 17
“HR is evolving to start looking at the marketplace differently because of the skills shortage and talent gap. We’re building the
workforce differently than just the traditional ‘full-time and part-time’. [Now there are] full-time, part-time, contingent workers,
volunteers, etc. HR can build and mobilize a culture to attract the talent you want.”~Bram Lowsky, Group Executive Vice President
of the Americas at Right Management.
WHAT’S TRENDING IN THE TEMP MARKET?
“
#RPO
RPO stands for Recruitment Process
Outsourcing, which is defined in simple
terms as the outsourcing of some or all
recruitment functions. Experts estimate
that 30 percent of large organizations use
RPO for some or all of their recruiting, and
the PRO market is expected to grow up
to $4.4 billion in 2015. HR departments
will probably be looking at investing in
Applicant Tracking Systems (ATS) as a
technology solution to help them improve
efficiency and visibility, while mitigating
risk in recruiting all types of workers. The
staffing industry is taking advantage of
this growth area to offer products and
services that incorporate RPO, including
mobile technology, online staffing, social
recruiting, MPS/VMS, ATS, job matching,
and data analytics.
HR departments are starting to explore
big data and data analysis as a tool to
enable decision-making and workforce
planning. Talent analytics allows managers
to use their volume of employees, HR, and
performance data to anticipate leadership
and talent gaps and to develop candidate
pipelines. A recent study by Bersin by
Deloitte shows that staffing for HR data
analysis is a top area of investment for
large companies. Read our article –
“Predictive Analytics Applied in HR”- in the
July edition of DCR TrendLine for more on
this topic.
Historically, HR has been removed from
marketing functions. However, with the
growth of company’s brand perception
due to social media, the growing war
for talent, and the advances in the use of
big data in employee hiring, HR is being
thrust into a position of marketing for
talent. HR executives need to team up with
marketing departments, and use
consumer-marketing principles, to design
and build internal employer brands that
will attract and retain workers.
At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand. This month, we’re presenting our
quarterly view of critical trends in key talent sectors of the staffing industry and human resources.
#TALENTANALYTICS #MARKETING
19. ENGAGING AND MANAGING GEN Z WORKERS
18
Last month we wrote about the demographics and motivations of the newest generation of workers entering the market - Generation Z. Generation Z
refers to those people born after 1990, of whom the oldest have already graduated from high school and college.
The 15-to-24-year-old members of Gen Z represent almost 7 percent of the American workforce for a total of 11 million workers. Experts project that this
number will reach 20 million by 2015, 25 million by 2017, and 30 million by 2019.
This new generation grew up with technology and connectivity, and recruiting, engaging, and managing these workers will require employers to shift their
management strategies.
The upcoming arrival of Generation Z to the workforce, as almost 30 million Baby Boomers retire, will represent the greatest generation shift the workplace
has seen. Human Resources professionals will need to gain a greater understanding of these individuals’ backgrounds and approach to work, in order to
successfully engage these workers.
We discussed five main trends that have shaped Generation Z members in our article“Who is Generation Z?”last month. Following on the same note, there
are some key areas for employers to focus on in order to effectively manage Gen-Z’ers in the workforce.
“The grown-ups are leaving, and there will be a new, young workforce to take their place.” ~Bruce Tulgan, Founder of
RainmakerThinking Inc.
“
MANAGING GENERATION Z
Social Media
Over the last two decades, communication has changed dramatically. Gen Z workers have never known a world in which they could not be in
conversation with anyone anywhere at any time.
Managing Generation Z requires becoming an expert in the tools of social media. Experts predict that by 2019, forms of social networking for
collaboration on projects and recognition will be standard practice.
Employers should use command-driven social media in which managers can control who is in a group and what is discussed, to engage workers for
training and onboarding. HR departments can use internal blogs, newsfeed, e-recognition, and socially networked performance management to
align workers toward the same goals.
Human Connections
Many members of Generation Z were raised with a highly engaged parenting, teaching, and counseling approach. While this generation is less likely
to resist authority, they will perform most effectively for individuals when engaged in intensive working relationships.
Skills Gap
Bruce Tulgan, founder of RainmakerThinking, says that his research shows that while Gen-Zers are very tech-savvy, they lack other important skills.
Tulgan says, “We’ve heard from many clients that [this group of workers] lack[s] interpersonal communication skills and, from a broader standpoint,
the ability to think critically. Many of them lack problem-solving skills, and this is due in part to an increased level of ‘helicopter parenting’ of this
generation. They have not demonstrated an ability to look at a situation, put it in context, analyze it and make a decision.”
A June 2013 survey by the Society for Human Resource Management (SHRM) corroborates this analysis, finding that 50 percent of HR professionals
believe that 2013 college graduates lack professionalism and work ethic, while 29 percent said recent grads lack problem-solving and critical-thinking
skills.
In order to combat this skills gap, employers should provide continuing re-education in non-technical skills, and build a workplace culture of highly
defined behavioral norms.
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2.
3.
20. MANAGING GENERATION Z
ENGAGING AND MANAGING GEN Z WORKERS
19
Structured Job Descriptions
Providing detailed explanation of job roles with structured job descriptions and strict definitions of responsibilities will enable Gen Z workers
to take on work and succeed faster and more effectively. Gen Z is very adept at paying attention and working productively at more than one
thing at a time, so encouraging multi-tasking is essential in engaging these young workers.
Generation Z workers tend to be highly responsive to clearly defined exchanges of time and tasks for directly adjusted rewards. The most
effective way to drive performance is for managers to explicitly negotiate performance and reward on an ongoing basis in an open exchange.
Flexibility
Generation Z workers value their time for family and personal needs. Employers who respect work-life balance by allowing for workplace
flexibility will gain more loyalty from Gen-Z workers.
4.
5.
Generation
21. A recent survey of 571 global organizations by the Human Capital Institute and Aerotek, found that 51 percent of respondents pay below their industry
competitors. The survey also discovered that respondents are twice as likely to say that they struggle to fill senior-level positions if they pay below their
competition.
Experts say that above market compensation is associated with higher engagement and less turnover.Traditionally, companies with revenue growth below
their industry peers are four times more likely to pay below their competition.
A different survey by CareerBuilder on salaries found that 65 percent of full-time workers in the U.S. say that they do not currently earn their desired salary.
Among the 65 percent, when asked how much they would have to earn before reaching their desired salary, the majority said $75,000 to $100,000.
“What’s going on is companies are claiming that they can’t find the skills that they need. What is unstated is that companies can’t find
the people with the skills that they need at the amount that they want to pay or the training investment that they want to make.”~Tim-
othy Gardner, Associate Professor of Management at Jon M. Hunstman School of Business, Utah State University.
“The survey supports past research suggesting that the $75,000 threshold is particularly significant, as this level allows households
in most areas of the country to not only get by, but enjoy an ideal lifestyle and a secure future. Interestingly, what workers would
ultimately like to earn does not necessarily factor into what they need for a successful career.” ~Rosemary Haefner, Vice President of
Human Resources at CareerBuilder.
20
PEEKING INTO SALARY SATISFACTION
“
“
Employee Compensation Compared to Market Industry Competitors
Source: Aerotek and Human Capital Institute
22. PEEKING INTO SALARY SATISFACTION
21
The survey found that while almost two-thirds of workers were not satisfied with their earnings, most believe that they can feel successful without earning large paychecks.
More than half (55 percent) said that they can feel successful making less than $70,000, and 78 percent do not think that they need to earn $100,000 or more to be successful.
Percentage Who Earn Desired Salary, by Income Level
Source: CareerBuilder
“In many cases, success is relative to the type of work individuals do or their current career stage. Regardless of income, we found that
workers tend to find success near their own salary level or in the range directly above. This is healthy because it shows workers can
derive meaning from their work at any level while still striving for that next promotion or raise.”~Rosemary Haefner, Vice President of
Human Resources at CareerBuilder
“
23. INDUSTRY HIGHLIGHT: EDUCATION SERVICES INDEX
22
DCR TrendLine Education Services Employment Index
The education services industry is made up of establishments that provide instruction and training on a wide variety of subjects. These institutions, which include schools,
colleges, universities, and training centers, may be either privately or publicly owned.
The industry is generally considered to be counter-cyclical – that is, when the economy is weak and unemployment is rising, more working adults decide to invest in further
education. This leads to higher enrollment and increased profit at schools. Meanwhile, traditional education for young students is generally non-cyclical.
The advent of technology and online collaboration is leading to improved enrollment rates and profit generation for schools. While educational services were once
considered applicable to mostly young people, the global war for talent is leading to increasing pressure on workers to enhance their skills.
There are two important trends in favor of the education services industry. First, as the U.S. continues to transition from a manufacturing-based economy to one reliant
on the service sector, for-profit educators have new opportunities by offering courses in informational technology, healthcare, and business management. Second, these
companies have the opportunity to tap into large under-educated segments of the world populations, in lucrative markets such as China, Brazil, and other developing
nations.
According to the latest figures from the Bureau of Labor Statistics (BLS), the private education segment added 7,000 jobs in July 2014.
24. 23
INDUSTRY HIGHLIGHT: EDUCATION SERVICES INDEX
Projected Education Market Size (in billion dollars)
U.S. and Global Education Spending
Source: Executive Office of the President, Council of Economic Advisors
In the fall of 2012, about 76.3 million people were enrolled in American schools and colleges. And about 4.7 million people were employed as elementary and secondary
school teachers or as college faculty. Other professional, administrative, and support staff at educational institutions totaled to 5.6 million.
In 2011, a White House
study found that the total
annual U.S. expenditure on
education was estimated
at approximately $1.3
trillion, with K-12 education
accounting for close to
half of this figure. Almost 9
percent of total U.S. GDP is
spentoneducation,making
it the second largest
market, behind healthcare,
in the country. There are
about 100,000 public
schools, 30,000 private
schools, and roughly 4,000
charter or other schools in
the K-12 space in the U.S.
A report issued by IBIS Capital in 2013 found that the fastest-growing sector of educational services is eLearning, which is expected to grow by 23 percent by 2017.
The global education market is expected to be worth about $4.4 trillion currently.
Market Size ($1 billion)
U.S. Total
Post-secondary
K-12
TotalGlobal
Post-secondary
K-12
1,332
432
625
3,925
1,311
1,878
59.8
24.4
2.9
62.5
31.3
9.4
4.5%
5.6%
0.5%
1.6%
2.4%
0.5%
eLearning Expenditure
($ billion)
eLearning as % of Market
Size
EDUCATION STATISTICS
25. INDUSTRY HIGHLIGHT: EDUCATION SERVICES INDEX
Global Education Expenditure
Source: IBIS Capital
U.S. Enrollment and Teacher Ratio
0.5%
EDUCATION STATISTICS
24
Thenumberofpublicschoolteachers
has increased by a larger percentage
than the number of public school
students over the past decade,
resulting in declines in the pupil/
teacher ratio
In public schools between 1985
and 2012, there was a 30 percent
increase in elementary education
(pre-kindergarten through grade 8),
compared with a 19 percent increase
in secondary enrollment (grades
9 through 12). Between the fall of
1985 and fall of 2010, enrollment in
prekindergarten increased by 745
percent, while enrollment in other
elementary grades increased by 24
percent.
26. Average Number of Staff per 1,000 Students in U.S. School Districts, 1950 to 2010
Source: Fordham Institute
Education Services Wages and Salaries
Index, 2010 to 2014
Source: Economagic
Recent analysis by the Thomas B. Fordham Institute shows that the growth of non-teaching workers has largely outpaced student growth over the past 40
years. From 1970 to today, non-teachers, such as administrators, counselors, teacher aides and cafeteria workers, jobs have increased by 130 percent to make
up over 50 percent of all public school employees. While overall school staffing has grown by approximately 377 percent, most of this growth is attributed to
the number of teacher aides.
A 2013 survey of educator job satisfaction by Monster.com found that 23 percent
of teachers were satisfied with their jobs, while 47 percent expressed
dissatisfaction. The National Education Association found that the national
average starting teacher salary for 2012-2013 is $36,141. The highest salary at
$51,539 is found in the District of Columbia, while the lowest at $27,274 is in
Montana.
25
INDUSTRY HIGHLIGHT: EDUCATION SERVICES INDEX
EMPLOYMENT AND WAGES FOR TEACHERS
27. Top Paying States for Elementary School Teachers
State
Rhode Island
New York
Alaska
California
Conneticut
Annual mean wage
$73.040
$72.840
$70.190
$69.320
$68.580
Source: BLS
The BLS defines the job title of ‘Elementary School Teachers, Except Special Education” as teachers who teach students basic academic, social and other
formative skills in public or private schools at the elementary level. As of May 2013, the employment estimate for this occupation is 1,344,240 with a mean
annual wage of $56,320. The states with the highest employment level for elementary school teachers are Texas, California, New York, Florida, and Illinois.
Employment of elementary school teachers is expected to grow at about 12 percent through 2022. This growth is attributed to job openings for new teachers
resulting from older teachers reaching retirement age between 2012 and 2022. Another cause for the growth in demand for teachers will be due to expected
growth in student enrollment, particularly in the South and the West.
26
PRACTICAL INNOVATION IN TALENT ACQUISITION
JOB TITLE FOCUS – ELEMENTARY SCHOOL TEACHERS
28. 27
For the last decade,
the word “global” has
been the buzzword of
business. Almost every
company is global, and
every product or service
is geared to a global
audience.
However, some experts
believe that while we live
in a highly connected
world, there is no “global
market” but rather a set
of globally connected
“local”businesses.
GLOBALLY LOCALIZING HR
source: DHL
29. 28
TheDHLglobalconnectednessstudy,pioneeredbyPankajGhemawat,showsthatsince2007,theworldhasbecomelessconnectedeachyearbecauselocalcountries
have their own economic conditions and grow at their own individual pace. Separate research by Bersin by Deloitte finds that the highest-performing companies
don’t standardize everything, but rather localize to the labor market and particular regulatory and cultural environment in each area that they do business in.
There is no denying the fact that businesses have transformed into open workplaces where people communicate all the time, there is increased reliance on highly
flexible communication, social networking and mobile devices, and teams now include not only employees, but customers, contractors, and partners. Skilled talent
is becoming even harder to find, and companies are starting to integrate contractors, contingent workers, and alumni together into an open talent economy.
Growing with this changing landscape, HR must adapt to be able to support global organizations with multicultural leaders and staff and to deal with variation in
labor markets around the world.
For years, organizations were highly focused on globalizing their HR strategies. Many companies adopted an HR design that was built around centers of
excellence and shared services. These HR organizations often focus on standardization and creation of a uniform work experience, with an overall goal to
achieve a global view of an organization’s workforce. Their intent is to operate consistently as a unified organization rather than as a series of fragmented
parts based on geography or business units. However, often the globally developed programs that were rolled out did not adapt well to meet local needs.
In these scenarios, local business units started developing their own programs. As a result, HR professions in the centers of excellence started becoming
out of touch with what was happening in the front lines of business.
While not every company has the resources or need to localize
its operations, it is becoming important in the ever-growing
war for talent to try to localize talent practices. In almost
any company, the needs of certain groups, such as product
development or sales, are different from the needs of other
functions, such as finance or accounting. Studies show that
HR’s ability to impact the workforce as a whole contributes
up to 37 percent of a company’s overall performance. Thus,
refining HR operations and service delivery becomes
important to company decision-making, improving talent
capabilities, and increasing engagement and performance.
“As companies continue to globalize – and as talent
becomes harder to find locally – companies will increasingly
be composed of a global, highly diverse workforce.To thrive
in this new environment, HR will need to reinvent itself to
remain relevant and help their organizations navigate a
complex and changing global labor market.” ~Accenture
Institute for High Performance
GLOBALLY LOCALIZING HRStages of Globalization
HR’S ORGANIZATIONAL DESIGN AND FUNCTION
“
30. 29
Successful companies tend to balance the need for global, efficient solutions with the need to be locally responsive and relevant in a‘glocal’approach to
talent management.
Often, the crux of business localization is to have global platforms with local implementations. For example, in HR software, this means implementing
global systems for recruiting and talent management that are designed to enable local customization.
Looking closely at recruiting, it’s easy to generalize that all labor markets are local. Recruiting in China or India is vastly different from recruiting in Spain or
even the United States. Organizations need to develop a local employer brand that attracts and retains skilled talent. Global platforms that can be localized
to fit the talent market, and tools that allow for information sharing and reporting, are essential. Currently, research from Bersin by Deloitte shows that over
two-thirds of all companies do not have a global recruiting strategy.
Meanwhile, for performance management, applying a global set of performance plans and goals might not be the best practice. While companies should
have a global set of cultural standards, performance plans and performance goals should be adjusted based on local labor markets.
Research on high-impact HR trends by Bersin by Deloitte found that, in large organizations, the most important drivers of impact are the capabilities that
empower local HR teams to design, develop, and deliver local solutions within a global framework, with shared tools and technology.
GLOBALLY LOCALIZING HR
LOCALIZING HR
HR Executives’Assessment of global HR Capability Levels
Source: Deloitte University Press
“The world is not global, the world
is local.” ~Josh Bersin, Founder and
Principal at Bersin by Deloitte
“
31. Distributed program
design and delivery
Programs are:
Designed keeping in mind that many programs have to be customized locally
Delivered by local HR professionals with support from central groups
Developed with understanding and respect for local workforce, business, and cultural needs
Designed and implemented within global framework and standards
Local HR professionals are:
Well-trained experts in their area of specialty
Specialized by role
Educated and experienced in business
Continuously developed
Considered independent change agents who can innovate and create new programs
Specialized experts
located close to the
business
PRINCIPLES FOR GLOBALLY LOCALIZING HR
30
GLOBALLY LOCALIZING HR
Principles for Globally Localizing HR
Source: Bersin by Deloitte
32. HOW COMPANIES CAN GET STARTED
31
A globally integrated, locally tailored talent strategy requires a combination of centralized, global standards with distributed, highly trained experts.
Experts recommend a few areas where companies can get started on localizing their global HR.
1) Leveraging global technology
Companies can implement a common global technology platform to support the global HR department, which offers self-service capabilities to
managers and workers.
2) Use analytics to understand the global talent map
HR should use analytics to understand key variables in different geographic areas to determine how best to fill these needs.This analysis can lead
to the creation of an overall global workforce plan.
3) Establish core global services
By establishing a core set of services for HR administration and talent communities, companies can start to form the global framework of consist-
ency and standards that local HR teams can operate from within.
4) Create global talent mobility
To operate as a globally integrated company, the HR organization should have the ability to move talent around the world and ensure that the
right skillsets from the global talent pool can be deployed against the best business opportunities.
5) Find local HR leaders
Once a framework of global processes, roles and goals is created, companies should find a local HR leader to design, develop and implement local
programs.
6) Prioritize focus areas
Different global HR trends are important in individual countries and regions. Companies should analyze their locations of business and identify
and prioritize which HR areas they want to focus on.
GLOBALLY LOCALIZING HR
33. METHODOLOGY
The DCR NationalTempWage Index is developed to assess the relative movements of temporary wage rates in the U.S. economy.The wage
rates for temporary workers or contingent workforce are based on payments made by staffing firms to these workers based upon hours
worked. Data collected from sources such as Bureau of Labor Standards (BLS) and other government sites as well as an internal pool of
staffing companies and consultants, is aggregated and classified based on regions and skill categories, to arrive at an aggregate index.
The baseline for the index is set at 100 for January 2007. Index value for a particular month indicates relative wages with the said baseline
and is representative in terms of direction and scale of change. Five years of data has been included to observe seasonal patterns and
distinguish seasonality from long-term wage movements. The data and the model has been further refined over last six months.
DCR TrendLine combines the exhaustive data from BLS with practical and more recent developments and data from on-field consultants
and clients, to provide timely near-term indications of trends and consistent long-term actionable and objective information.
DCR TrendLine uses multiple economic variables to ensure the robustness of its forecasts and cross-validation of trends.
Key data sources and parameters of interest included and influencing the index are:
Unemployment data
Gross Domestic Product
Prime rate of interest
New and seasonal Job openings
Non Form employment
Job Opening
All Export
All Import
Average Hourly Earnings of All Employees Total Private
Aggregate consultant data on job market parameters
32
SOURCE DATA