Tags
Administration
Benefits
Communication
Communication Programs
Compensation
Conflict & Dispute Resolution
Developing & Coaching Others
Employee Satisfaction/Engagement
Executive Coaching
HR Metrics & Measurement
HR Outsourcing
HRIS/ERP
Human Resources Management
Internal Corporate Communications
Labor Relations
Labor Trends
Leadership
Leadership Training & Development
Leading Others
Legal
Management
Motivating
Motivation
Organizational Development
Pay Strategies
Performance Management
Present Trends
Recognition
Retention
Staffing
Staffing and Recruitment
Structure & Organization
Talent
The HR Practitioner
Training
Training and Development
Trends
U.S. Based Legal Issues
Vision, Values & Mission
Work-Life Programs & Employee Assistance Programs - EAP
Workforce Acquisition
Workforce Management
Workforce Planning
Workplace Regulations
corporate learning
employee engagement
interpersonal communications
leadership competencies
leadership development
legislation
News
Onboarding Best Practices
Good Guy = Bad Manager :: Bad Guy = Good Manager. Is it a Myth?
Five Interview Tips for Winning Your First $100K+ Job
Base Pay Increases Remain Steady in 2007, Mercer Survey Finds
Online Overload: The Perfect Candidates Are Out There - If You Can Find Them
Cartus Global Survey Shows Trend to Shorter-Term International Relocation Assignments
New Survey Indicates Majority Plan to Postpone Retirement
What do You Mean My Company’s A Stepping Stone?
Rewards, Vacation and Perks Are Passé; Canadians Care Most About Cash
Do’s and Don’ts of Offshoring
Error: No such template "/hrDesign/network_profileHeader"!
Blogs / Send feedback
Help us to understand what's happening?
Reason
It's a fake news story
It's misleading, offensive or inappropriate
It should not be published here
It is spam
Your comment
More information
Security Code
Tale of Two Job Markets
Created by
Jason Chapman
Content
While many workers are having a tough time finding suitable employment in today's uncertain economy, companies also face challenges finding highly skilled people.<br />
According to the fourth annual Employment Dynamics and Growth Expectations (EDGE) Report by Robert Half International and CareerBuilder.com, employees rated the level of challenge in finding a job at 3.56 on a one-to-five sliding scale; similarly, employers rated the level of challenge in finding qualified candidates at 3.47.<br />
<br />
"A dual hiring environment seems to be taking shape," said Max Messmer, chairman and CEO of Robert Half International. "Job seekers in some fields are competing aggressively for open positions, giving employers the edge in those segments of the hiring market. At the same time, however, companies continue to face a shortage of highly skilled professionals in fields such as technology and accounting. These in-demand workers may not be willing to leave secure positions unless firms extend very attractive job offers."<br />
<br />
The Employment Dynamics and Growth Expectations (EDGE) Report is an annual survey on employment and compensation trends by Robert Half International and CareerBuilder.com. The survey includes responses from more than 500 hiring managers and 500 workers, and was conducted from May 7 to June 1, 2008 by International Communications Research in Media, Pa. It was designed to compare the perspectives of hiring managers and workers on the state of the current employment market.<br />
<br />
<strong><br />
The Challenge of Recruiting Qualified Staff</strong><br />
<br />
The shortage of qualified workers has grown more acute, with 59 percent of hiring managers citing it as their primary recruiting challenge, up from 52 percent in 2007. Six out of 10 employers estimate that at least a quarter of the applicants who contact them are not qualified. Thirty-one percent report more than half of applicants are not qualified. <br />
<br />
Complicating the task of finding qualified talent are spiraling energy costs, hiring managers said. Twenty-nine percent said the rise in fuel prices and commuting expenses has negatively impacted their ability to attract skilled candidates who may want to limit their travel distance to and from the office.<br />
<br />
As employers manage through these challenges, recruiting has become increasingly time consuming, taking anywhere from four weeks to 14 weeks to fill open positions. More than half of hiring managers (56 percent) said Generation Y employees (born between 1979 and1999) are the most difficult to recruit, perhaps because of high expectations around pay, career advancement, flexible schedules and overall work environment.<br />
<br />
<br />
<strong>The Compensation Question</strong><br />
<br />
When they find qualified professionals, firms appear anxious to win them over. Nearly two-thirds (65 percent) of hiring managers said they are willing to negotiate compensation for top candidates; 19 percent are very willing.<br />
<br />
Despite not feeling overly confident in job prospects, professionals are increasingly inclined to negotiate better compensation levels as fuel, food, healthcare and other expenses grow. Sixty-three percent said they are more likely to try to negotiate a better compensation package with a new employer compared to 12 months ago. This contrasts with 58 percent in 2007.<br />
<br />
"Businesses are operating on leaner resources and are competing to secure the intellectual capital that will drive productivity and new revenue streams. Companies are also replacing lower-performing employees to strengthen their talent bench to prepare for a time when the economy shifts into higher gear," said Matt Ferguson, CEO of CareerBuilder.com. "Recruiting highly skilled professionals may require a greater financial commitment or special perks that provide a more attractive work environment, however. Nearly three-quarters of employees surveyed said the availability of flexible schedules may cause them to choose one job over another."<br />
<br />
<br />
<strong>Holding on to Top Performers</strong><br />
<br />
While employee retention may be less of a concern in a tougher economy, many employers have nonetheless taken measures in the last 12 months to prevent good workers from leaving their organizations, including:<br />
<br />
" Allowing flexible work schedules - 63 percent<br />
" Providing funding for additional training/certification - 62 percent<br />
" Increasing salaries - 56 percent<br />
" Instituting telecommuting options - 29 percent<br />
<br />
Companies also expressed an interest in retaining employees nearing retirement age to manage through the exodus of the baby boomers from the workforce. Forty-seven percent are likely to offer reduced work schedules as an alternative to retirement. Thirty-nine percent are likely to offer "bridge" jobs, while 37 percent are likely to offer consulting arrangements.<br />
<br />
<br />
<strong>Survey Methodology</strong><br />
This survey was conducted by International Communications Research on behalf of Robert Half International and CareerBuilder.com among more than 500 employers (employed full-time; not self employed; with at least some involvement in hiring decisions), and more than 500 employees (employed full- time; not self employed; with no involvement in hiring decisions) ages 18 and over within the United States between May 7 and June 1, 2008. <br />
<br />
<span style="font-size: x-small;"><br />
<br />
Robert Half International is the world's first and largest specialized staffing firm with more than 360 worldwide staffing locations. For more information about the specialized staffing and recruitment divisions of Robert Half International, visit www.rhi.com.<br />
<br />
CareerBuilder.com is the nation's largest online job site with more than 23 million unique visitors and over 1.6 million jobs. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company, The McClatchy Company (NYSE:MNI) and Microsoft Corp. (Nasdaq: MSFT), the company offers a vast online and print network to help job seekers connect with employers. For more information, visit http://www.careerbuilder.com.</span><br />
Copyright © 1999-2025 by
HR.com - Maximizing Human Potential
. All rights reserved.