BLS Analysis for Recruiters June 2020 – 7 articles

Bob Marshall’s June 2020 BLS Analysis for Recruiters; 7/2/20

The 7 June Articles…

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More Than Half of Industry Says Economy to Be Better by Year’s End

Daily News, June 29, 2020

The economy, hit hard by Covid-19, should improve by the end of this year, according to 56% of recruiting professionals surveyed by staffing software firm Bullhorn.  Only 2% believe there will be a sustained depression that extends past 2021.

It also found that 30% said their businesses were doing better than, or as well as, they were this time last year.  However, healthcare and IT staffing firms were most likely to observe stable performance and suffer dramatic losses.

“The impact of Covid-19 has been profound, but as always, optimism and opportunity abound amidst challenges,” said Gordon Burnes, chief marketing officer at Bullhorn.

“While respondents expect permanent changes to the industry, such as the rise of remote jobs, staffing and recruiting is still fundamentally about people,” Burnes said, “and the top priorities for agencies — improving client and candidate engagement — demonstrate that the path to success is through relationships.”

The survey took place in May and June in both North America and the UK.

Other findings in the report:

*42% say they have not reduced their internal workforces. However, 46% of North American firms laid off or furloughed employees and 82% of UK firms did.

*Reduction in job requests was the biggest customer-related challenge, according to 81% of those surveyed.

*The top challenge when acquiring new customers was hiring freezes, 72% said.

*64% expect remote jobs to be more common post-pandemic, and 57% expect contactless recruiting to become more prevalent.

Financial Services Professionals Confident in Job Security Despite Negative Economy

Daily News, June 24, 2020

Financial services professionals are confident in their job security despite a negative economic outlook, according to a new global study by Selby Jennings, Phaidon International Group’s brand targeting the financial services industry.

More than half of global respondents, 57%, feel confident in keeping their jobs over the next 6 months, despite 62% foreseeing a worsening economy over the next year.

However, 75% of US financial services professionals surveyed are still willing to consider relocation for a new career opportunity.  Regional analysis revealed that much of this willingness is to move within the professional’s current region, perhaps out of a city center to more suburban areas.  Those willing to relocate expect a new employer to play a large role in relocation; with 64% expecting assistance with moving expenses.

The survey found 49% of financial services professionals are satisfied with their current role, and 33% of respondents are even planning to leave within the 6 months.  In Europe, only 43% indicated satisfaction with their current role, and 42% are considering an exit.  And 70% of professionals globally reported career progression, not compensation, as the most important motivational factor.

The inaugural Selby Jennings Job Confidence Index engaged more than 900 experienced financial services professionals worldwide.  Professionals were surveyed in the APAC region from February to March, and in the US and Europe from March to April.  These survey periods roughly coincided with the timeline of the Covid-19 outbreaks in the respective regions.

More Than Half of Office Professionals Second-Guessed Careers Amid Pandemic: Robert Half

Daily News, June 17, 2020

After months of maneuvering through the coronavirus crisis, many employees are rethinking what is most important when it comes to their career, suggests new research from global staffing firm Robert Half International Inc.  And as businesses focus on the future and when hiring ramps up, workers may begin to explore their options.

More than half of office professionals surveyed, 57%, said they have experienced a shift in their feelings toward work due to the pandemic.  Of those, 60% are more motivated to be employed at an organization that values its staff during unpredictable times; 40% will prioritize their personal life over their job moving forward; and 33% want to pursue a more meaningful or fulfilling position.

“This has been a time of reflection and reprioritization for businesses and people,” said Paul McDonald, senior executive director of Robert Half.  “Purpose is at the forefront of everyone’s mind right now, and professionals are assessing whether their company’s values align with their own.”

Additional findings include:

*More employees ages 25 to 40 (68%) experienced a change of perspective due to the pandemic than respondents ages 41 to 54 (45%) and 55 and older (40%).

*Of respondents who said their feelings shifted during Covid-19:

*More women (65%) than men (56%) expressed interest in working for a company that appreciates its employees during uncertain times.

*Nearly an equal number of working parents (41%) and professionals without children (39%) reported a desire to place greater focus on personal versus professional activities.

The online survey was developed by Robert Half and conducted by an independent research firm from May 14 to May 19.  It included responses from more than 1,000 workers 18 years of age or older and normally employed in office environments in the US.

IT Employment Posts Biggest Decline in 15 Years, but Still Performs Better Than Total Workforce

Daily News, June 11, 2020

IT employment in the US fell by 1.63% in May compared to April for a total of some 5,200,000 jobs, according to the TechServe Alliance, a trade association for the IT and engineering staffing and solutions industry.  TechServe Alliance CEO Mark Roberts said the decline wasn’t a surprise, but it was 15 years ago — during the dot-com bust — when a drop of this magnitude was last seen.

“Given that there was a long-standing labor shortage in IT preceding the Covid-19 induced decline, IT employment will fare far better than most other sectors in the inevitable recovery, Roberts said.

On a year-over-year basis, IT jobs were down 2.5%. This is better than the 11.7% decline in the total workforce.

Separately, engineering employment increased by 0.21% in Mary compared to April for a total of some 2,500,00 jobs.  The decline is also smaller than the 6.5% month-over-month decrease in April.

On a year-over-year basis, engineering jobs were down 5.43% in May.

Remote Working Options are Most Significant Benefit from Pandemic, Say Third of Hiring Managers

Daily News, June 10, 2020

A third of hiring manager say fully remote working options are the most significant benefit to be implemented during the Covid-19 pandemic, according to a survey of 500 hiring managers in the US by staffing firm Addison Group.

Other findings in the report include 56% of hiring managers said this is the first time they performed hiring activities remotely; 26% are prioritizing remote technology skills in new candidates; and 24% plan to focus hiring on part-time, contract-to-hire and freelance employees.

In addition, 18% expect fully remote options to be in place permanently even after the pandemic and 21% cited virtual interviewing as being put in place permanently.

“The future is not entirely clear for many organizations, but the pandemic has put a spotlight on what aspects of the hiring process work and do not work amid a crisis,” said Tom Moran, CEO of Addison Group.

The report also found 89% adjusted their hiring strategies during the pandemic. Changes included:

*58% implemented a hiring freeze

*33% fulfilled roles internally

*32% reduced/laid off recruiting staff

*31% decreased hiring budget

*26% shifted from full-time to part-time contract hires

*25% expedited hiring

More Than Half of Workplaces Plan to Reopen by July 15

Daily News, June 9, 2020

Workplaces will soon be reopening with 53% planning to reopen by July 15, according to a survey by the Society for Human Resource Management.  Another 45% have yet to set a return date.

Still, it won’t be businesses as usual.

“Workers should expect to see more masks, fewer handshakes, marked floors, more barriers and greater flexibility — especially when it comes to remote work,” said Johnny Taylor Jr., president and CEO of SHRM.

Other findings in the report included:

*68% of organizations probably or definitely will adopt broader or more flexible work-from-home policies for all workers.

*29% probably or definitely will allow workers to work from home full-time through the rest of 2020.

*86% of organizations are implementing or considering the required use of personal protective equipment such as masks and gloves.  Of those firms, 80% are providing and paying for PPE.

*73% of organizations are implementing or considering on-site medical/temperature screenings.

*59% say childcare accommodations will be handled on a case-by-case basis; only 7% are considering or providing on-site childcare services.

The survey included 1,087 HR professionals; it was conducted May 13 through May 20, 2020.

More Temps, New Roles, Fewer People Working in Offices: Trends Amid Covid

Daily News, June 5, 2020

More temporary staff and fewer people in the office are among 4 employment trends to watch amid the Covid-19 pandemic, according to a survey of employers by TrueBlue Inc.

The full 4 employment trends to watch are:

I. Wider adoption of emerging jobs – New roles were created during the pandemic to protect public health and may be around for a while:

*Health and safety stewards provide deep cleaning and ongoing sanitization services for retailers, restaurants, gyms, retirement homes and other facilities.  They may work alone or oversee a crew of trained associates, following industry-specific cleaning checklists.

*Health monitors check temperatures of people entering a building, helping to enforce safety protocols if someone is sick.

*Decontamination technicians operate systems to sterilize hospital gowns and masks for reuse and check for quality.

*Reconfiguration specialists are skilled trades professionals who help companies modify facility layouts for social distancing, install glass partitions, set up outside seating, etc.

II. More temporary and part-time staff – Similar to staffing patterns that followed other economic downturns, 40% of employers expect to rely more on temporary workers once Covid-19 ends.  Employers also said they plan to employ more part-time, permanent staff and outsource more work.

III. Fewer people in the office – 60% of employers have been providing remote work options for their employees during the pandemic.  Of these employers, more than half, 54%, said they are open to more employees working from home after the pandemic ends if productivity levels are maintained.

IV. Heightened safety measures to become routine – 86% of employers said that, when Covid-19 has passed, they will continue to enforce strict health and safety guidelines that are currently in place from increased sanitization and use of personal protective equipment to temperature checks and social distancing. 

TrueBlue’s survey also found 75% of employers said their business declined during the pandemic but most believe business activity will return to normal by the end of the year, if not sooner.  However, 18% are concerned their business may not survive Covid-19.

They survey included 580 employers in the US and was conducted online by TrueBlue and its PeopleReady subsidiary between April 21 and May 27.