Guest Contributor 20
As the economy is picking up steam, there are nowadays only two unemployed workers per job opening. This means that the labor market is as tight as prior to the Great Recession. In this context, hiring new talent is getting harder and more expensive as you have to compete with other employers looking at the same people. Academic research by Lisa Kahn on the careers of college graduates reveals a surprising new tip to help you tap talent that other employers may neglect.
by Rosemary Haefner, chief human resources officer of CareerBuilder
The class of 2015 has one more reason to celebrate: In the best outlook since 2007, 65 percent of employers are planning to hire recent college graduates this year, according to a new survey from CareerBuilder. Even better, one third of employers will offer higher pay than last year, and 1 in 4 will pay $50,000 or more.
I believe that we are at an inflection point with organizational diversity and inclusion efforts.
What got us to this point is not likely enough to take us forward. It’s time to hit the reset button on some of the mindsets and practices we apply to this work. Whether you are just getting started, trying to breathe new life into a stalled out effort or chasing greater impact, here are some potential “next practices” for your team, department or organization.
Will a candidate accept your job offer? Compensation is obviously an important element that makes your job offer attractive. What is perhaps less obvious is that candidates tend to compare the compensation you offer to other reference points. In particular, they may compare it to other people’s compensation or to their own compensation in similar jobs.
Newly published experimental research (Bracha, Gneezy, and Loewenstein, 2015, http://www.jstor.org/stable/full/10.1086/678494) shows that such pay comparisons affect workers’ propensity to take on a job, and offers insights about how to increase your chances of getting the talent you want.
Naomi Bloom recently shared her thoughts on why so many companies fail to promote women and minorities into key HR leadership posts. This week, I wanted to share ideas on this topic from other successful human resources professionals who have shaped my thinking as a talent advisor.
Heather Bussing is a California-based attorney. She has practiced employment and business law for almost 30 years.
With droves of Americans hunting for work and plenty of business owners seeking the right workers, you’d think companies would have an easier time finding talent. However, the problem frequently isn’t lack of talent or lack of initiative, it’s the lack of a solid talent strategy—the game plan for acquiring and keeping the workers that create success.
A good talent strategy is often the difference between companies that lead and companies that lag.
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