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Filling Jobs Is Going to Get Even Harder This Year

06Jun
Green KeyHuman Resources, Leadership + Management

With fears of a recession ebbing, job growth this year is expected to be a repeat of last year.

The non-profit business research group The Conference Board says that though cautious, employers will continue adding jobs in 2020. “We expect job growth to remain solid and the labor market to continue tightening,” said Gad Levanon, head of The Conference Board Labor Markets Institute.

The Conference Board’s Employment Trends Index, flat since mid-2018, tells us the pace of hiring hasn’t changed over the last 18 months. However, the nation’s readily available labor pool, reported by the Bureau of Labor Statistics in its U-6 rate is at a historic low 6.7%. U6 includes the officially unemployed, those working part-time who want full-time work and those who are out of work, but not included in the official unemployed count.

What this means for employers, even those who are dialing back job growth, is that filling openings is not going to be any easier in 2020 than it was last year. If anything, it’s likely to be even more difficult.

We’ve pulled the hiring and voluntary quit rates from the Bureau of Labor Statistics to illustrate the hiring difficulty. At a glance, the chart tells the story of what’s been happening. As hiring increased after the recession ended, the rate at which workers quit increased. At the pace workers voluntary quit during the first 11 months of 2019, the rate for the whole year will be about 31%. On average, almost a third of the nation’s workforce quit, most to take another job.

That gap you see between the quits rate and the hires rate explains why employers are having such difficulty filling vacancies. Up to now, the slack has been filled by hiring new workers, the unemployed and those who had been on the employment sidelines, not looking for a job, maybe not even wanting one, but now deciding to accept one.

But that has still not been enough to fill all the jobs, which is why the number of openings is at near historic highs and the time to fill is creeping up.

Consider yourself lucky if your turnover is low and filling openings hasn’t been especially difficult. Every industry is different. The numbers here are national averages.

The bottom line, however, is that retaining workers and filling jobs is not going to get any easier this year, and is likely to get even more difficult. Now would be a good time to give us a call here at Green Key Resources to discuss your hiring needs. You may not have an opening today, but it pays to be prepared. Because our recruiters are specialists, we know where the best people are. So when you are ready to hire, we can move fast.

Give us a call at 212.683.1988 and be prepared.

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Don’t Be Afraid to Ask For Help

Why is asking for help so hard?

Some people seem to do it naturally; others become a pest because they’re always asking for help when they should know how to do it themselves. But, as research and studies show, the majority of us hesitate to ask for help when we really need it. We wait until we have no choice and the problem has become so much larger.

Yet, people are surprisingly willing to help. Studies tell us that people are 48% more willing than expected to help complete strangers.

Asking for help has proven benefits, writes Wayne Baker, Ph.D., is a professor at the University of Michigan’s Ross School of Business, and author of All You Have to Do Is Ask. In an article for SHRM, Baker lists several including contributing to the success of new hires, relieving stress, better job performance and contributing to innovation and creativity.

In light of all that, why don’t more of us ask our co-workers for help? Baker says there are 8 main reasons:

  1. We underestimate other’s willingness to help. We fear being rejected.
  2. An ingrained sense we need to solve our own problems.
  3. The social costs of asking for help; being perceived by others as weak or incompetent.
  4. The work culture is such that it actually is unsafe to admit you need help.
  5. The organizational structure makes it difficult to know whom to turn to for help.
  6. We’re not clear what help we need or how to ask for it.
  7. We worry we haven’t earned the privilege — built up the “credits” — to ask.
  8. We don’t want to appear selfish.

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Human Resources
Jun 6, 2023

The HR Trends Shaping the Workplace In 2021

Human Resources
Jun 6, 2023

The HR Trends Shaping the Workplace In 2021

In so many ways the impact of COVID-19 has been far-reaching, touching virtually every part of daily life. Among the most profound changes wrought by the pandemic has been how we work.

Human resources professionals agree that the workplace in 2021 will be very different from the one we knew at the end of 2019. Certainly, for some workers and in some industries, the changes will be less obvious and may even feel like “business as usual.” For others, it will be an entirely transformed experience.

What’s ahead? What are the workplace trends that human resources professionals will grapple within the year ahead?

Brian Kropp, chief of HR research at the consulting and research firm Gartner, shared on Human Resource Executive the HR trends he says will prevail next year. On his list – and on every other list from other HR professionals and thought leaders – is the acceptance of remote work as common practice, rather than some special benefit.

No longer a trend, Kropp says, “The next wave of flexibility will be around giving employees flexibility over when they work. Next year will see a rise of new jobs where employees no longer have an agreed-upon set of hours to work and instead just focus on a set of outputs to achieve, regardless of how long it takes them to achieve those outputs.”

Agreeing that remote work is now an established practice, HR thought leader Trish McFarlane, in her list for SAP, advised HR professionals to “Prepare to be flexible with scheduling and options for online trainings and upskilling.”

As part of the acceptance of work-from-home, Kropp sees a shift toward managing the life experiences of employees.

“We have seen (as a result of the pandemic) the struggles that they have faced when it comes to working from home, from balancing raising kids and working, and from caring for their family members,” Kropp writes. Supporting workers with these struggles gives them better lives and enables them to work more effectively.

“2021 will be the year where employer support for mental health, financial health and sleep will become table stakes of the benefits offer given to employees,” he says, addressing mental health support itself as one of the key HR trends: “Employers will work to de-stigmatize mental health by expanding mental health benefits, creating collective mental health days and supporting other initiatives to improve the mental health of their employees.”

Among the other HR trends Kropp sees are:

  • More companies will take public positions on societal and political issues.
  • States will compete to attract talent, rather than companies to move there.
  • The gender wage gap will intensify in 2021 as more men choose to return to the workplace than women.
  • Companies will shift from building talent to buying and renting it.

Like Kropp, other HR leaders see a broadening of the employee experience to be more encompassing of life experiences:

  • McFarlane says “Mental and emotional well-being will become central to the employee experience.”
  • The ReWork editors at Cornerstone predict the next step in the evolving employee experience is that “We will practice empathy in a virtual world.”

While all offer other, additional trends — some new, many accelerated by the pandemic — all see a different world of work in 2021.

As the ReWork editors wrote, “2020 has accelerated inevitable changes and forced industries, companies, and most importantly, people to adapt to these changes over a considerably short amount of time.

“And 2020, if nothing else, has shown us that people are resilient, organizations can adapt in the face of rapid change, and together, they can create extraordinary outcomes.”

Photo by Cytonn Photography on Unsplash

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