To stay competitive in today’s rapidly evolving labor market, you need to get creative in the way you recruit candidates, and that involves finding and applying workforce analytics in new ways.
Just when you think you finally have a good grasp of Generation Y, along comes a newer batch of prospective employees. Outnumbering Millennials by about a million, the 60 million members of Generation Z – young people born between roughly 1996 and 2011 – make up a quarter of the U.S. population. And while the oldest members of this group are just getting their feet wet in college and the workforce, employers need to start thinking about their impending tidal wave.
Twenty-nine percent of employees have a side gig. These entrepreneurs can bring valuable skills to their full-time jobs, like creativity and a winning attitude.
With a limited staff size, small business owners depend heavily on the contributions of every team member. So when a new position opens up, finding a great match becomes imperative. A hiring mistake could cause problems ranging from insufficient output to workplace discord. At the same time, companies that take too long searching for the ideal applicant face risks, as well.
The U.S. is expected to grow 5 percent over the next five years, adding more than 7 million jobs by 2021, according to a recent study from CareerBuilder and Emsi.
As may be expected, however, some jobs will grow at a much faster rate than the average, while others will decline. Middle-wage jobs in particular (jobs that pay $13.84 – $21.13 per hour) will see slower growth than high- and low-wage jobs – at 3 percent overall.
Why should you care if your employees have a healthy work-life balance? Because a healthy work-life balance among employees can benefit your small business – in more ways than one. Research has shown that shown that employees who feel they have a healthy work-life balance are more productive, more satisfied in their jobs (which increases retention) and healthier (which lowers medical costs and absenteeism).
We spoke to Will Maurer, global sourcing manager at General Motors, who offered real-life examples and insights on how take your sourcing strategy to the next level.