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Tag: Talent Acquisition

Are employers offering salaries that match those of their industry competitors?

Administrative and support industry reported a 12.66% rise in weekly wages

In the continuous war for talent, it’s important for TA teams to ensure they’re paying market-related salaries in order to attract the right talent for their organisations. When workforce planning, TA teams should be sure to investigate what competitors in their industries are paying to be able to compete for good candidates.

In a recent study conducted by UK trading platform CMC Markets has found that the mining and quarrying industry has seen the largest increase in wages among all UK industries between January 2022 and January 2023.

The study analysed data from the Office for National Statistics’ Wages and Salaries Survey since January 2000. The average weekly earnings in the mining and quarrying industry rose by 12.95% over one year, from £1,203 to £1,382.

The administrative and support service activities industry comes in second, with a 12.66% increase in weekly earnings from £490 to £561. The professional, scientific & technical Activities industry takes third place, with an increase in average weekly earnings from £854 to £940, a percentage change of 9.15%.

The manufacturing industry for chemicals and man-made fibres and the education industry round out the top five, with weekly earnings increasing by 8% and 7.4%, respectively, between January 2022 and January 2023.

Michael Hewson, CMC Markets Chief Market Analyst commented: “This list is varied in terms of industries, showing that wages are rising steadily in many lines of work in the UK. However, with this data essentially summarising an entire industry as the data is across multiple industries, it will be interesting to see how wages have increased in the top and bottom end of these industries, especially with strikes occurring in many of them, including education, due to pay disparity and unsuitable wages.”
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How recruiters can use TikTok

Working with TikTok’s algorithm is essential for driving organic engagement

TikTok’s popularity continues to soar despite concerns about data privacy, and recruiters are taking notice. The social media platform has over 1 billion monthly active users and solid reach to users in the U.S. aged 18 and up, making it an attractive space for recruitment. Companies ranging from giants like Target to small mom-and-pop shops are leveraging TikTok to find job candidates. However, the key to success is creating the right campaign for the right job.

Working with TikTok’s algorithm is essential for driving organic engagement. While organic reach can be effective, it requires regular posting to feed the algorithm. For smaller businesses that may not have the time or resources to produce regular content, partnering with influencers or employees who have built-in audiences can be a workaround. Companies can work with influencers to promote content about what it’s like to work for a particular company or leverage employees who have TikTok followings already.

Paid promotions on TikTok can be effective for entry-level roles, but the platform’s promotion platform can be more limiting than on other social media platforms. TikTok only allows users to choose one interest for paid promotions, which can be limiting for more specific job roles. However, paid promotions can be highly effective in grabbing attention and leading someone into the recruiting process.

Companies should be aware that potential job candidates are likely to research the brand’s social media platforms when considering job opportunities, including TikTok. Having TikTok videos that showcase work culture and values can be a good way for companies to project their culture and values to potential candidates. TikTok can be a supplemental component of a broader social media strategy, but it is important to consider where the audience is spending their time and where to allocate recruitment resources.

Emily Durham, a TikTok creator with more than 200,000 followers and a senior recruiter for Intuit said that she posts all kinds of videos, from dating advice to info on job interviews. She’s not exactly pushing content about working for Intuit, but her presence still lifts the company’s profile.

She said: “Having a social presence has been a game changer for me from a professional perspective. Probably half of the candidates that I reach out to have responded with, ‘Oh my god, I follow you on TikTok,’ especially with early career talent or when I’m recruiting for other HR roles at Intuit.”

Debbie Walton, Editor at TALiNT Partners commented: “I think it’s tricky using a personal social media profile for work purposes. If the posted content doesn’t align for an employer brand or is deemed offensive (very possible these days) to anyone, it will not only reflect poorly on the organisation, but also the employee. Proceed with caution.”

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Employers increase tech budgets to improve hiring efficiencies

48% of respondents adopt a skills-first approach to talent acquisition

According to a recent global trends survey by HireVue, some employers are increasing their technology budgets to improve the efficiency of their hiring processes due to ongoing talent shortages. The survey discovered that 30% of employers have increased their hiring budgets, while 50% have placed a greater emphasis on internal mobility, especially in sectors that have experienced hiring freezes or layoffs.

Anthony Reynolds, CEO of HireVue, said: “This year’s survey confirms that we are at a turning point in global workforce trends, where demand for new skills is colliding with changing candidate demographics and expectations.” Many job seekers are now pausing their searches to focus on long-term careers at companies that will assist them in upskilling, reskilling, and expanding their knowledge. Employers are also willing to fill new positions by retaining and investing in their existing team members.”

The survey also found that employers are exploring alternative hiring methods, with 48% of respondents adopting a skills-first approach to talent acquisition, prioritizing skill sets over education requirements and prior work experience. Additionally, organizations are focusing on hiring technology to efficiently validate candidate skills amid changing requirements. Of those surveyed, 58% used standardized assessments, 32% implemented game-based assessments, and 40% added chatbots or text recruiting to their hiring processes.

HireVue surveyed over 4,000 talent leaders across the software, finance, and retail industries for the report. They also surveyed 1,000 US candidates about how the current economic state affects their job search.

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60% of executives expect their firms to post stable or high growth

54% of Asia-based businesses face talent-related challenges 

A new study by Mercer reveals that despite global economic challenges, almost six in 10 executives believe their firms will achieve stable or high growth. However, in Asia, businesses are facing talent-related obstacles, with 54% of respondents indicating that their organizations will struggle to meet demand with current talent models. The primary reasons for the talent gap are high staff turnover, an increase in quiet quitting, and difficulty hiring the right talent quickly enough. To address these challenges, HR leaders in Asia plan to improve the employee experience for key talent, rethink compensation philosophy, and improve workforce planning.

The survey also found that only half of employers in Asia offer flexible work options for all employees, which is lower than the global average. About 30% of respondents do not plan on providing flexibility to all employees in the future. Puneet Swani, Mercer’s Senior Partner and Career Leader for Asia, IMEA and Pacific, suggests that there is no silver bullet when it comes to flexible work arrangements, and organizations need to clearly communicate the reasons behind their return-to-work policies.

The study also reveals that Singapore is the second fastest-growing market in the Asia-Pacific region by the number of organizations hiring. In response to inflation, employers in Asia are on par with their global peers in using bonuses or implementing pay adjustments to boost employees’ total compensation package. However, the study notes that Asia falls below the global average in providing cost-of-living adjustments or other wage increases for the most impacted markets, which is a more sustainable way of managing compensation.

Although 40% of employers in Asia have made progress in destigmatizing mental health and promoting self-care, the region continues to lag behind in areas like providing on-demand access to virtual mental healthcare and financial wellness programs. Only 14% of employers in Asia have invested in financial wellness programs that boost long-term financial security for their employees, particularly older populations.

Puneet Swani, Mercer’s Senior Partner and Career Leader for Asia, IMEA and Pacific, commented: “The talent challenges organizations face today boil down in large part to a disconnect between what employers offer and what employees expect. Remote working, which is now an expectation, is a good example.”

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Financial worries affect the productivity of more than one in four

More than a quarter a seeking help to cope with stress

Financial worries are top the list of factors affecting workers’ productivity. This is according to a new survey conducted by the Joseph Rowntree Foundation. The survey revealed that almost one-third of workers (approximately 8.2 million people) said they experienced low work productivity due to financial concerns. A further 31% said that they expect a similar scenario within the next year. With the country facing a massive cost of living crisis, these figures are no surprise.

According to the study, 20% of the British public (13.4 million people) were already living in poverty in 2020/21, with 7.9 million being working-age adults. The projections were also not positive. The New Economics Forum estimates that by December 2024, 43% of UK households will not be able to afford a decent standard of living.

The survey found that 40% of workers have experienced physical and mental strain due to their financial pressures a further 32% lose sleep. In addition, a quarter of respondents reported feeling depressed.

For those who are affected mentally:

  • 26% are seeking help to cope with stress
  • 20% expect to speak to a mental health professional or receive counselling
  • 19% plan to seek advice from their GP

The mental health crisis in the UK is growing, with the waiting list for mental health patients at a record 7.2 million and a waiting time of 47 weeks, according to data from October 2022.

The British public are looking for appropriate pay increases to deal with soaring prices. The respondents were asked to choose a suitable increase from 1% to 12%.

34% said a 5% pay rise sounds ‘about right’

34% felt the same about a 10% rise

People who voted for Tories in the last election found 5% to be fair (41%)

People who voted for Labour said 10% would be appropriate (43%)

Retired Brits also agreed with the 5% rise (35%)

Jonathan Merry, CEO of Moneyzine.com, commented: “The figures paint a grim picture, but also show how much employers need to rehash their duty of care policies and refine their outreach to struggling employees. Although limited in their power, firms need to keep their ends up to support their workers in these testing times.”

Read the full article here.

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TALiNT Partners releases results of the Talent Acquisition Benchmark Report

The new TA landscape – more important than ever, more challenging than ever

On 18 November, TALiNT Partners hosted their annual Talent Acquisition Leaders Summit at The King’s Fund in London. TA leaders gathered to hear insights and findings of the Benchmark Report as well as listen to keynote speakers from LinkedIn and Diversity by Design.

Over the last five years the TALiNT Partners Benchmark Programme has been helping talent leaders to review their organisation’s capabilities to acquire and retain the people they need and we are excited to launch our findings in the Talent Acquisition Benchmark Report 2022.

This year TALiNT Partners reached out to Talent Acquisition and HR Leaders in over 400 single and multi-national employers, guiding participants through a rigorous review of their planning, processes, tools and technology to understand key talent trends and challenges.

This year’s Benchmark Report brings into sharp focus the challenges, opportunities and balancing act faced by TA Leaders in 2022.  and the significance of Talent Acquisition has never seen such universal priority.

Findings from the Report include:
• In 2022 talent scarcity has been the predominant theme driving creativity and collaboration but also frustration and uncertainty
• Post-pandemic, every EVP needs a re-fresh
• Internal talent has become a priority, with upskilling and development of existing employees taking centre stage
• Candidate aspirations have changed, necessitating a new approach to the employment relationship
• Several areas of TA have been deprioritised to free up time and resource to deliver essential changes
• Diversity is important, but not as important as filling the job
• Less enthusiasm for new tech (apart from onboarding and upskilling) and more focus on making what they have work better.

This is just a glimpse of what lies ahead in this thought-provoking and candid view of the 2022 talent acquisition landscape.

Each of the twelve categories has its own story to tell.

Download the report here – https://info.talintpartners.com/benchmark-2022

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Petroplan bolsters LNG services in North America

The specialist TA group is offering consultative services to support clients’ resourcing strategies

Specialist energy talent acquisition group Petroplan has strengthened its Liquefied Natural Gas (LNG) service offering across North America.

Petroplan is exploring a number of opportunities to support LNG development projects and operational facilities, concentrating on operations in the US Gulf Coast, Western Canada, and the Mexico Pacific Coast.

The service is being driven by David Waterfield, Managing Director for North America, supported by newly appointed Senior Client Development Manager, Adrian Kraeger.

With almost 30 years combined experience working on LNG projects in North America, David and Adrian are experts in the field and bring unique insight into the future challenges and demands for LNG operators.

Petroplan is offering consultative services to support clients’ resourcing strategy across all areas including organisational design, compensation, staffing and hiring strategies, immigration solutions, as well as recruitment itself. As LNG access, consumption and production continues to significantly increase and there is an unprecedented demand for staff on these projects, Petroplan’s expertise provides a vital solution to clients wishing to ensure success of their LNG projects.

Christopher Honeyman Brown, Petroplan CEO, said: “With the European energy crisis and ongoing conflict in Ukraine, there is an unprecedented dependency on the global LNG market. To support the increasing demand for LNG, we will continue to strengthen our ability to support clients to resource their operations around the world, and particularly in North America.

“We are delighted Adrian has joined us to support David and the North America team as they continue to provide our clients with our extensive global experience.”

Petroplan has 46 years of global experience in the oil and gas industry, including the delivery of LNG projects for clients in the Middle East and US. Recently, the talent acquisition group has expanded to support LNG projects in the Asia-Pacific region.

David Waterfield, Managing Director for North America, also made comment: “Our unparalleled level of expertise in LNG, in North America and globally, enables us to deliver the best quality services in the region as the world turns to the US for natural gas resources. We look forward to growing our service offering in the region, helping our clients to deliver their projects.” 

 

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Diverse strategies to attract and retain staff

81% of employers have implemented sign-on bonuses

According to the WTW 2022 Mid-year Compensation Survey, employers are using a number of strategies to attract and retain employees. From increasing flexibility to sign-on bonuses, employers are having to think out of the box as the hiring market remains tight.

The survey found that 71% of employers have difficulty attracting and retaining employees with digital skills while 66% said the same for professional employees. For hourly roles, 61% of respondents said they are having difficulty hiring and keeping workers.

To help attract and retain workers, WTW found that employers are:

  • Hiring employees at the higher end of salary ranges, 86%.
  • Increasing flexibility in where employees work (for example, home versus office) and how they work, 84%.
  • Offering sign-on bonuses to attract talent, 81%.
  • Using retention bonuses to keep employees, 65%. Organizations that are enhancing the use of retention bonuses are most likely to target such bonuses to managers (82%) and professionals (80%).
  • Increasing training opportunities, 55%.

Lesli Jennings, North America Leader, Work, Rewards and Careers at WTW commented: “Employers are leaving no stones unturned in their battle to find and keep talent.”

The WTW survey also found employers are revising their salary budgets to hire and keep workers. Respondents said they are planning or considering:

  • Boosting their current salary budgets, 44%; 23% already have done so.
  • Adjusting salary budgets throughout the year on an as-needed basis, 46%; 22% already have.
  • Making more frequent salary adjustments throughout the year; 7% already have.
  • Adjusting salary ranges (i.e., minimums, midpoints and maximums) more aggressively, 46%; 18% already have.

The survey took place between May 23 and June 16. It involved 884 organizations in North America that employ more than 15 million people.

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Allegis Global Solutions Launches Universal Workforce Model with new book

A framework that solves talent access challenges with an outcome-first approach

Allegis Global Solutions (AGS), a provider of global workforce solutions, announced the publication of a new book for business, human resources (HR) and procurement leaders that takes them on a journey to harmonised workforce strategy and management.

“The Universal Workforce Model™: An Outcome-First Guide to Getting Work Done” talks about the three transformational yet complementary concepts – the Workforce Business Partner, Task-Based Workforce Design and the Intelligent Workforce Platform. The book lays out why organisations must challenge current models for acquiring and accessing talent now and what steps they can take to create an agile business fit to thrive in the new world of work.

Authored by AGS’ Vice President of EMEA Simon Bradberry and Global Head of Strategy Bruce Morton, with contributors John Boudreau (senior research scientist and professor emeritus at the University of Southern California), Ewan Greig (AGS senior manager of workforce solutions), Jessi Guenther (AGS vice president of client delivery) and Sarah Wong (AGS vice president of APAC), the book refocuses on the work itself before jumping to talk about workers, roles and vacancies, offering readers an alternative way to rethink work through outcome-based workforce acquisition.

Bruce Morton, Global Head of Strategy commented: “Current models for acquiring and accessing talent are outdated and flawed. Companies compete for talent they may never fully use, overspend or underspend on contractors based on limited data, and may forfeit budget and quality as a result. This is why the Universal Workforce Model starts with the outcome first, applying a workforce planning model that breaks down siloed resource channels, so organisations can secure the right resource every time, and work most efficiently and effectively.”

The Universal Workforce Model is structured as a journey to harmonised workforce management and has three defining features based on common areas of business transformation – process, people and technology.

Simon Bradberry AGS’ Vice President of EMEA commented: “Advances in AI and services-enabled architecture have given rise to technologies that bring all workforce options into view, making the journey to the Universal Workforce Model possible now. While changing the fundamentals of workforce engagement is not an easy move, the journey should not be a sacrifice to the business. Innovations in work design, evolving strategic relationships between companies and solutions partners and developing expertise to reconfigure work illuminate and make the path forward possible.”

Ken Brotherston, Chief Executive of TALiNT Partners made exclusive comment on the launch of the book: “Companies face immense pressures as they adjust to the ever-changing workforce. What’s important moving forward is that they treat workforce challenges as a priority across the entire business. The concept of the Workforce Business Partner doesn’t replace the work that HR, hiring managers, recruiters, and staffing and talent solutions partners do, but it provides the impetus that enables them to work smarter and with more agility on the journey to a Universal Workforce Model.”

Arkadev Basak, Partner, Everest Group also made comment on the release: “For years, Procurement, HR and business leaders have been forced to struggle with an incredibly complex set of talent acquisition and workforce challenges. Applying a different mode of thought and a new model to rethink, reimagine, and redesign today’s workforce has the potential to bring the focus back on the work itself.”

 

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Tech and talent business changes name

Company plans double headcount in five years

Harvey Nash Group has announced that they are being renamed Nash Squared, signalling their intention to grow rapidly over the next five years. The technology and talent company plans to more than double its global headcount from 2,500 to 6,000 by 2027.

The group, which currently incorporates six technology and talent businesses, grew strongly during the pandemic with acquisitions and expansion in Vietnam and Latin America.

They believe that this move positions them as an integrated technology and talent provider and allows clients to build and transform their technology capability in several ways.

The move also distinguishes Nash Squared from Harvey Nash, the company’s global technology talent acquisition brand.

Bev White, CEO of Nash Squared, commented: “The future for our clients lies in helping them build and transform their digital teams and capability in limitless ways, and the Nash Squared brand positions us strongly as a platform to deliver on this. It also supports our significant growth plans; as we expect to more than double our global headcount from 2,500 to over 6,000 over the next five years.”

 “It was very important to retain the Nash name in the group brand as it is a uniting factor to so much of what we do. In fact, many parts of the group call themselves Nashers! Becoming Nash Squared reflects the impact we see when our businesses work together. We are an incredible company that is even more powerful when we collaborate, and Nash Squared is the brand that will take us even further.”

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