Another sign of the weak U.S. recovery: The Conference Board’s Employment Trends Index , released this morning, added three-tenths of a point in July, and now stands at 97.0. To put this into perspective, the ETI stood at 100 in 1996, shortly after the economy began its Internet-fueled meteoric rise. By 2000 it was past 120 on its way (but not quite reaching) 130
As the nation and the world emerge from the depths of the recession, labor economists tell us that this recovery will be slower and bumpier than most Americans living today can remember. Like the Great Depression of the 1930s, this one will leave its scars on the economy and the national psyche. Employers will feel its consequences rippling through their workforce and their recruiting efforts, with effects lasting for years, if not an entire generation. What are the consequences for employers? What are the long-lasting changes the recession has wrought on the recruiting and retention of workers
This recession is accelerating a trend that was already underway: the tendency of organizations to outsource and decentralize non-core functions. I define core very simply: anything that generates revenue (e.g. the sales team), invents new products or services (e.g., R&D) or deeply touches customers (e.g. consultants, advisors).
When change comes to recruiting, it comes in a variety of forms. In the search for the candidate who will deliver the best value for the money, companies are continuously innovating and seeking competitive advantage in the employment marketplace. Trends, fads, and idiosyncratic procedures are commonplace. Again, change comes in a variety of forms: New technologies (like job boards or applicant tracking systems) can shift the relationship balance between employer and employee New techniques (like behavioral interviewing and Internet sourcing) can change the selection process New ways of doing business (like outsourcing) can change the volume and complexity of recruiting relationships Shifting economics can change the demand equations, making some skills more valuable than others Demographics can alter communications goals and processes New information management Ideas (like open source, wikis, or public resume databases) change the competitive intelligence aspects of the game Technology disruption can eradicate an industry, creating a surplus of potential employees who don’t quite fit Fads and voodoo (handwriting analysis is a popular assessment tool in some places) shape some companies perspective There is a Darwinian process for figuring out which technologies work and which fail. The team that fields the best technology, marketing, and sales combination gets to fight the next battle.
Earlier this month The Conference Board released the results of one of its periodic surveys saying less than half of American workers are happy at their job. Out of 2,900 respondents to the survey, only 45 percent reported being satisfied with their job.
A survey released this morning says employers are fooling themselves believing workers are content simply to have a job. According to the survey conducted by Monster and Human Capital Institute, 84 percent of employers indicated they thought their were workers content because they were working. However, only 58 percent of workers said that.
Making the news this week are announcements from Jigsaw about an overhaul of its forums to bring them into the world of Web 2.0, a coup for outplacement upstart RiseSmart, and some good news for CEOs. JIGSAW The business intelligence and sourcing site has upgraded its community forum, giving it a cleaner look and implementing such to-be-expected features as tagging and contributor ratings. Tags are especially welcome, given that forum posts aren’t easily searched. No one is going to mistake the new community platform as avant garde; think of it as functional, especially so if it adopts the name “The Corner,” which is beating out “Puzzleville” in the name voting
A raft of recent surveys shows that the recession is having a profound impact on workers and employment trends worldwide. Even though they measure different things — global hiring, immigration repatriation, and career trends — there’s a theme here, which is that the economy is global and when it recovers, things will not go back to the way they were. There’s the report from Monster this week that says vast numbers of workers are ready to swit ch careers for a new job