Employment Market Trends

1
Employment Market Trends Effects on Talent
Acquisition

• Ted Daywalt
• President
• VetJobs
• www.vetjobs.com

2
Todays Perceptions

• Jobs being off-shored and outsourced
• There is no labor shortage
• Employee turnover is low
• HR departments not having problems finding
  candidates

3
Realities

• Only 1.5 million jobs off shored from ALL
  developed countries
• Critical labor shortages already developing
  nationwide IT, Engineering, Sales, etc
• Turnover is rising rapidly
• HR departments having problems finding qualified
  candidates

4
Realities

• Normal unemployment now 5.0
• Shortage of experienced executives
• Shortage of skilled labor
• Labor is now a sellers market
• HR departments understaffed
• Security increasing costs

5
Impending Labor Crisis
6
How Employees Pick A Company

• The company location, drive, setting, etc
• Culture
• Enlightened leadership
• Care for the employees
• Growth opportunities
• Meaningful work
• Compensation
• Opportunity to make a difference

7
Finding the Right Candidates

• Survey of 3,900 HR professionals revealed 84 now
  get their best candidates from niche Internet job
  boards!

8
Finding the Right Candidates

• WEDDLEs survey of 3,000 candidates who recently
  obtained jobs found
• - 34 used a job board
• - 10 used a headhunter/recruiting firm
• - 9.3 used networking
• - 8.7 used an employee referral
• - 8.0 used newspapers

9
Finding the Right Candidates

• Least used sources
• - 2.6 from a company website
• - 0.6 from a professional organization

10
Finding the Right Candidates

• Most important finding
• When asked where they expect to find their next
  job, candidates overwhelmingly gave the nod to
  ads posted on an Internet job board (69.7).

11
What Does This Data Mean to You?

• Re-evaluate how you advertise your jobs
• Consider using new sources, but emphasize niche
  job boards, certain newspaper ads and employee
  referral programs
• Re-evaluate how your companys culture is
  treating the employees

12
What Does This Data Mean to You?

• Importance of retention programs
• Does your company provide growth opportunities,
  meaningful work and the opportunity to make a
  difference

13
Five Statements that Tell You an Employee is
Planning to Leave

• It doesn't feel good around here.
• They wouldn't miss me if I were gone.
• I don't get the support I need to get my job
  done.
• There's no opportunity for advancement.
• My boss doesnt care

14
Why Employees Leave

• All other things being equal, most employees
  leave due to their immediate supervisor!
• Compensation is the last reason most people leave

15
Retention Is Key

• Benefits of Stability
• Hire Right the First Time
• Care About Your People
• Make Training Count
• Importance of On-boarding Properly

16
Employer of Choice

• Become an Employer of Choice!
• To register for this program, go to
• http//www.hermangroup.com/employerofchoice/

17
Questions?