MRINetwork’s most recent Recruiter Sentiment Study says 83% of the 333 responding recruiters describe the current employment market as candidate-driven. In three years, the percentage of recruiters who say candidates are in the driver’s seat has risen 29 points.
Articles by John Zappe
To add to the robust report, the Labor Department’s monthly employment report, out this morning, adjusted upward its initial numbers for September and October by 44,000 jobs. Together with November, the U.S. economy has averaged 241,000 new jobs each month this year. In 2013 the average for the 11 months was 204,000 and in 2012 it was 184,000.
The unemployment rate was unchanged at 5.8%. A year ago the rate was 7%.
All major sectors added jobs. Temp hiring, at 22,700 new jobs, accounted for 7.3% of the total created. Since January, agencies have averaged 18,500 new temp jobs a month. Last year, the average was 15,670.
All but counted out a few years ago, as the biggest employers started in-housing executive search, retained and contingent firms have come roaring back.
By most accounts, 2014 is going to end on a strong note. So strong in fact that it may be the industry’s best year ever.
Third quarter reports from the publicly held search firms and global numbers from the Association of Executive Search Consultants show both revenue and searches are up this year over last year.
The report from HR services and payroll process ADP, says every one of the broad industry groups it tracks added jobs, with small businesses growing the fastest. Businesses with fewer than 50 employees created 101,000 new jobs. Employers with more than 500 workers contributed 42,000 new jobs.
“November continued to show solid job growth above 200,000,” said Carlos Rodriguez, ADP president and CEO. “Small businesses continued to drive job gains adding almost half the total for the month.”
Search firms looking for growth markets might take a look at where angel investors are betting their money. In the first half of the year, over half the new investments went to three sectors: software, healthcare and retail.
Two of those three are among the most competitive when it comes to hiring. Especially for tech startups, the competition for talent is not just against other like-sized firms, but against giants like Apple and Microsoft and Google.
In a post more than two years ago discussing how to recruit for startups, Robert Woo said, “If a stellar developer even comes within the vicinity of the office, he/she will be snatched up faster than an intern can be stuffed in the server room to make space.”
No longer a temporary fix for a sudden spurt in a company’s workload, contingent staffing has become such a strategic part of the corporate workforce mix that predictions are temps will soon account for more than 20% of the Fortune 500 headcount.
With that growth comes a need for greater sophistication by staffing firms to predict client demand, enhance productivity, and uncover opportunities from the dozens of client and potential client contacts a busy agency makes every day.
That’s what Bullhorn’s newest iteration of its CRM was designed to do.
In less than two months, businesses with 100 or more workers will be required to provide some sort of healthcare coverage for their employees.
This includes staffing companies who are employers of record. And it has potential consequences for those who use back office providers who serve as the W2 employer of record.
The rules of the Affordable Care Act can be complicated. For instance, the health plan must provide “minimum value” and it must be “affordable.” Even the rules for determining how many employees you have is not nearly as simple as counting up the number of paychecks you issue. The formula includes your FTEs, which are calculated by adding regular hours, holiday hours, paid time off, and overtime and dividing by 120.
As America honors its military veterans today, there is encouraging news on the jobs front: The unemployment rate for the nation’s veterans has declined sharply in the year since the last Veterans Day.
Thanks to a nationwide focus on hiring veterans, and especially younger veterans who served in the post 9/11 military, unemployment for all veterans went from 6.9% in October 2013 to 4.5% last month. The national unemployment rate dropped 1.4 percentage points to 5.4%. (All percentages are non-seasonally adjusted.)
Contributing to the sharp decline was a project launched three years ago by JPMorgan Chase and 10 other large employers. As its name implies, the 100,000 Jobs Mission committed to hiring 100,000 veterans by the end of 2020. Now, with more than 170 companies participating, the project has employed more than 190,000 former military.
For the ninth consecutive month job creation topped 200,000, adding 214,000 new non-farm jobs last month. Meanwhile, the unemployment rate edged down to 5.8%, the lowest in six years.
Temp staffing continued its steady climb, adding 15,100 workers, down from September’s adjusted upward count of 17,800. For the nine months from January through September, temp added an average of 17,300 workers a month. For the same period in 2013, the average growth was 14,600.
The Bureau of Labor Statistics, which released the monthly employment report this morning, also adjusted upward its overall job estimates for August and September, adding 31,000 more jobs to the totals announced previously. The numbers are seasonally adjusted.