41% of Employers Suffering Loss of Productivity Due to Difficulty Hiring for I.T., Sales, Engineering, Other Positions

Matt Ferguson, CEO of Careerbuilder

The growing deficit of skilled labor needed to fill in-demand jobs is causing a drag on employers across the globe. A significant number of employers in the ten largest world economies said that extended job vacancies have resulted in lower revenue and productivity and the inability to grow their businesses. Employers in China were the most likely to report having open positions they cannot fill and corresponding negative effects on their company performance. Russia houses the largest percentage of employers reporting a revenue shortfall tied to extended job vacancies while the U.S. is among those most likely to report a productivity loss. Japan ranked high among those who said the inability to find skilled talent has impeded expansion of their businesses.

The global CareerBuilder survey, conducted online by Harris Interactive^© from November 1 to November 30, 2012, included more than 6,000 hiring managers and human resource professionals in countries with the largest gross domestic product.

“The inability to fill high skill jobs can have an adverse ripple effect, hindering the creation of lower-skilled positions, company performance and economic expansion,” said Matt Ferguson, CEO of CareerBuilder. “Major world economies are feeling the effects of this in technology, healthcare, production and other key areas. The study underlines how critical it is for the government, private sector and educational institutions to work together to prepare and reskill workers for opportunities that can help move the needle on employment and economic growth.” Continue Reading

Job Boards Aren’t Dead. They’re Evolving.

Mark Mehler and Gerry Crispin of CareerXroads

Mark Mehler and Gerry Crispin of CareerXroads just released their Annual Sources of Hire (SOH) Study, which is one of the most referenced and authoritative snapshots of how large, highly-competitive, high-profile firms define and measure the talent supply chain.

The SOH report is a glimpse of where employees – actual hires – were found. This data is important to organizations as they look to find and hire new employees. It is equally important to job candidates as they seek the most effective channels to a new job.

Interesting findings from this year’s study include: Continue Reading

Sequestration Far Worse Than March Madness for Job Numbers

U.S. House of Representatives Speaker John Boehner

With the first round of the 2013 NCAA Division 1 men’s basketball championship tournament set to tip off next week, the nation’s employers should be readying themselves for the inevitable drop in productivity that coincides.  One new survey found that nearly one-third of workers spend at least three hours per day following the Tournament during work hours.

In the annual “study” hated by working basketball fans everywhere, global outplacement firm Challenger, Gray & Christmas, Inc., estimates that March Madness will cost American companies at least $134 million in “lost wages” over the first two days of the Tournament, as an estimated 3.0 million employees spend one to three hours following the basketball games instead of working.

“At the end of the day, March Madness will not even register as a blip in the overall economy.  Sequestration is going to have a far bigger impact.  Will March Madness even have an effect on a company’s bottom line?  Not at all,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas. Continue Reading

97% of Employers Have No Plans to Eliminate Telecommuting a la Yahoo! and Best Buy

Marissa Mayer of Yahoo!

When big box retailer Best Buy followed in the footsteps of Yahoo! Inc. by altering its telecommuting policies for employees, some undoubtedly concluded that there would soon be a flood of companies doing the same.  However, a new survey indicates that Best Buy may be in the minority, with the overwhelming percentage of companies planning to maintain their telecommuting policies.

According to the survey, 80 percent of the 120 human resources executives polled said their companies currently offer some form of telecommuting option to employees with 97 percent of them saying there are no plans to eliminate that benefit. 

The survey was conducted by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. in the days following Yahoo’s widely reported and controversial plan to bring work-at-home employees back to the office. Continue Reading

Economy Added 236,000 Jobs Despite Expectations of Only 160,000

The U.S. economy added 236,000 jobs in February. According to the Wall Street Journal, economists had forecast that payrolls would rise by 160,000 and the unemployment rate would fall to 7.8 percent. In related news,  the unemployment rate fell two-tenths of a percentage point to 7.7 percent, the lowest level since the end of 2008.

Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, construction, and health care. Continue Reading

Federal Government Budget Woes Lead to Woes in Job Markets

John Challenger of Challenger, Gray & Christmas

Planned job cuts increased for the second consecutive month in February as U.S.-based employers announced workforce reductions totaling 55,356, up 37 percent from 40,430 in January, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The February total was 7.0 percent higher than the 51,728 job cuts announced the same month a year ago.  It was the highest monthly tally since last November, when announced layoffs reached 57,081.  Continue Reading

Top Paying Liberal Arts Majors

Three liberal arts majors had average starting salaries that topped $40,000 in 2012, according to a new report by the National Association of Colleges and Employers (NACE).

NACE’s January 2013 Salary Survey (see Figure 1) found that the top-paying liberal arts majors in 2012 were: Continue Reading

Higher Home Prices Likely to Lead to Surge in Employees Quitting Jobs

John Challenger of Challenger, Gray & Christmas

With the recent report on home prices showing the biggest year-over-year gain in more than six years, one employment authority predicts a surge in relocation by job-seeking homeowners in 2013, which could ultimately help to accelerate the decline in unemployment rates.

“One factor that has kept unemployment rates high has been the inability of underwater homeowners to relocate for employment opportunities.  With home prices bouncing back, even those who may now simply break even on a home sale might consider moving to a region where jobs are more plentiful.  This could spark a more rapid decline in the unemployment rate over the next year,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.  Continue Reading

Employers Taking 30+ Days to Extend Offers After Interview Date

How long can a college student expect to wait for a job offer after an interview? And, after an offer is extended, how long will he or she have to accept or reject it?

NACE’s 2012 Recruiting Benchmarks Survey found that, on average, employers hiring new college graduates take 24.2 business days to extend an offer to a college student after an interview. If you add in weekend and holiday days, that means that the employers are asking the average candidate to wait more than 30 days from the date of their interview to receive an offer of employment. Once an offer has been extended, employers then give the candidate an average of 14.1 business days to make a decision. Continue Reading

Telecommuting Benefits Environment, Worker Productivity, Job Satisfaction, and Profits

John Challenger of Challenger, Gray & Christmas

With a new report detailing the growing cost of daily commuting to and from work, one workplace authority wonders if it is time for the nation’s employers to make a serious commitment to expanding the use of telecommuting strategies.

“Right now, a very small fraction of the nation’s workers who could viably work from home on a regular basis are actually doing so.  By not expanding the use of telecommuting, employers are negatively impacting the environment, worker productivity, job satisfaction and, most importantly, their bottom lines.  And, it is not a lack of technology or other resources that is holding back this expansion.  It is simply a lack of vision, a shortage of trust and an irrational adherence to antiquated notions of how and where work should be done,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc. Continue Reading