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Eric Winegardner's presentation regarding Placement and Retention Strategies at the 2010 PLS Career Summit in Atlanta
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Placement & Recruiting in Today’s Employment
Landscape
PRESENTED BY:Eric Winegardner
VP, Client AdoptionDecember 1, 2010
Pearson Learning Solutions Summit
Agenda
Current Employment LandscapeAttempt to Foresee the FutureOpportunities around PlacementOpen Forum Q&A
ATTEMPT to steer clear of Social Media > Leave that to Juliette!
2
Macro Economic Indicators
National Unemployment Rate
• 9.6% in September, 14.8 million jobless individuals• 41.8% unemployed longer than 27 weeks, 6.2 million
4
Unemployment Rate by Education Level
5
Trends in the Unemployment Rate
National Association of Colleges and Employers – June, 2010
Monthly Payroll Growth
7
Payroll Employment Growth
8
Monster Employment Index (MEI)
9
Full Reports Available Online at:http://about-monster.com/employment/index/17
Site: Resource Center – Market Intelligence
November Data Released December 2nd
10
Evolving World of Work
The New World of Work
12
The New World of Work
13
Undergraduate Plans After Graduation
National Association of Colleges and Employers – June, 2010
A Look Into the Future
BLS 2018 Projections-Change in Occupational Group
17
BLS 2018 Projections-Change in Service Providing Industry
18
BLS 2018 Projections-Change by Education/Training Category
19
BLS 2018 Projections-Fastest Growth Occupations
20
BLS 2018 Projections-Fastest Growth Occupations- Numeric
21
Entry-LevelJob Conditions
23
Entry Level │ Supply and Demand Opportunities
While entry-level job seekers are targeting a wider range of job opportunities, employers have a strong need for entry-level sales candidates (27%) suggesting a competitive market for this talent pool
Source: Monster Internal Data, Active Job Seekers, June 2010; New Job Postings, June 2009 – May 2010
Entry Level │ Labor Market Matrix
24
Source: Monster Internal Data, Active Job Seekers*, June 2010; New Job Postings, June 2009 – May 2010*Active Job Seekers are the number of My Monster Accounts created, modified or accessed over the last 18 months
High PerformanceWhile no category is currently in the high performance zone indicating strong demand and supply of entry-level talent ensure programs are in place to keep existing talent as the market shifts.
Incubator OpportunitiesMany strong entry-level growth opportunities exist. Entry-level segments supporting growth potential include Project Management, Legal, and Human Resources which report higher volumes of resumes per job posting.
Talent Deficit Sales falls within the talent deficit zone. Continue best practices to be competitive and keep existing entry-level talent. Consider filling immediate gaps with student and/or interns
Talent SurplusesAdministrative is strong with talent while Customer Service just bridges the talent surplus area. Finance and Healthcare sit between growth opportunity and talent surplus quadrants.
Incubator Zone
25
Entry Level │ Compensation ($)
The majority of employers (52%) and job seekers (55%) agree that entry-level opportunities will offer salaries between $20,000 and $40,000
> 38% of employers expect to offer at least $40,000
Source: Monster Internal Data, January 2010 – May 2010; Only permanent full-time professionals and opportunities were included within the analysis
Research by Monster & Human Capital Institute (HCI)
Recent Research with the Human Capital Institute (HCI) 2H2009 survey of over 700 companies and
nearly 5,000 active & passive job seekers.
What’s the impact of the current recession on work and the workforce?
How can you capitalize on shifts in employee attitudes?
27
Where the 21st century is headed. . . .
28
Employer Perspectives
What employers told us . . .
A quarter of companies have cut their low-performing product lines
16% have closed plants or offices
More than half of companies have cut their budgets across the board
61% cut budgets in specific business units
Only 38% have taken advantage of the talent available in the market for selective new hiring.
30
Employers are feeling the recession . . .
67% have decreased or eliminated wage increases and bonuses
43% have implemented layoffs
44% have implemented a hiring freeze
31
Both employers and workers are concerned about top performers leaving the organization
Work
ers
Em
plo
yers
“Some top performers are leaving, causing me concern”.
More or less concerned about top talent attrition
32
Employee Perspectives
Worker perceptions of the future have changed
Employers have benefited from the swing of the labor market pendulum
> Young workers will accept lower level jobs
> Workers believe in a non-traditional retirement
> Most workers are over stressed and fearful
> Many employees are working harder and feel it is mandatory to keep their job
Employers do face heightened attrition risk
Pay remains the dominant motivation regardless of the economy
34
Workers expect compensation, including base pay, benefits, career advancement and retirement to be impacted significantly
Workers Expectations on Compensation and Career Advancement
35
Today, employees may be “just happy to have a job” …
“Just HAPPY to have a job”
36
The recession has changed their attitudes toward their employers
The leadership appears to be less concerned
about employee retention than prior to
the recession
The leadership is inclined to use worker insecurities to drive
longer hours, lower pay or other concessions
The leadership is less tolerant of dissent and
challenges to its authority
37
“Today’s employers feel that employees are loyal
due to the economic times, but the reality is they
are not. Because of this, there is a strong likelihood
that when the economy turns for the better,
employers could find themselves with valued
employees jumping ship. This places pressure on
them to put retention measures in place now.”
- Katherine Jones, HCI Research Fellow.
38
What does this mean in a recovery?
Mass exodus of employees, new opportunities for your graduates!
39
Questions?
40
