In this week’s Week End Roundup: forecasted 10-15% increase in hiring in India; Australian graduates aiming for investment banking jobs; and increase in credit check of applicants.
India Inc May Ramp Up Hiring By 15 Pc in FY'11: E&Y (Hindustan Times)
According to Ernst & Young, India is likely to witness 10-15% increase in hiring in 2010-11. The spurt in hiring will be led by the telecom sector, which is forecasted to generate over 100,000 jobs. Other sectors that are likely to support hiring in the new fiscal year include pharmaceuticals, fast moving consumer goods, and education.
Graduates Are Rushing Investment Bank Jobs, Despite Tarnished Image (The Australian)
Australian branches of global investment banks have maintained graduate hiring levels throughout the downturn. Banks report that they are receiving up to 10 applications for each vacant position.
World's Worst Countries for Jobs (Forbes)
In a study of the 30 wealthiest nations, the Organization for Economic Co-operation and Development (OECD) reports that unemployment rates increased the most in European countries.
Bad Credit History Can Crash Your Job Search (Wall Street Journal)
Employers are checking credit histories of potential employees with more frequency since the downturn. The Society for Human Resource Management cites that 47% of employers run credit checks for at least some positions in late 2009, up from 42% in 2006.
Thursday, March 25, 2010
Friday, March 19, 2010
Social Media Channels Popular, but Effective?
It’s no secret that recruiter usage of the most popular social media channels – LinkedIn, Facebook, Twitter – continues to climb. In fact, new Roundtable data confirms that 78% of recruiters have increased their usage of social media over the last year. What we find fascinating is that despite the widespread usage, a full 40% of recruiters have not seen a performance boost from using these channels. So, if we’re using social media more, where is the impact we were promised?
Two broader trends may shed light on this:
1) The channels themselves have yet to reach maturity: Of the eight channels we asked recruiters to consider, only LinkedIn was rated as more effective in 2010 than it was in 2009. Less than 25% of recruiters rate the other most prominent channels – including Facebook, Twitter, and MySpace – as effective. That includes activities across sourcing, conversion, and branding.
2) Organizations haven’t figured out how to quantify the impact of these social media channels: When we ask recruiters to tell us if their organization measures the ROI of social media channels, only a quarter of respondents agree – a full third strongly disagree. To underscore this trend, only 44% of organizations are even tracking candidate utilization at this point.
To help nudge your organization’s Web 2.0 and social media strategy in the right direction, visit the Web 2.0 Technologies for Recruiting topic center. You can also contribute and share your social media experience by taking the Social Networking Survey through the end of March (Roundtable members only for both links).
Week End Roundup: March 19th
In this week’s Week End Roundup: Unemployment levels drop in Canada and the UK; and increase in number of U.S. graduates looking for employment in Asia.
UK Unemployment Drops (Wall Street Journal)
UK unemployment fell at its fastest monthly pace in over 12 years in February, raising hopes that the UK economic recovery is gaining momentum.
More U.S. MBA Graduates Look for Jobs in Asia (Wall Street Journal)
Business Week reports that business schools in the U.S. are witnessing an increase in the number of graduates looking for jobs in Asian countries including China and India. The number of graduates looking for jobs outside the U.S. has doubled in the past five years, from 5% of the graduating class to more than 10%. This increase is due to comparable pay packages offered in other countries and the availability of opportunities.
Recession Left ‘Walking Wounded’ Workers (China Daily)
With the recession showing how quickly jobs can disappear, employees are increasingly becoming "nesters," who prefer to stay in one career or with one employer for their entire professional lives. Workers in developing economies like India and China are far more willing to jump from job to job than their counterparts in countries such as Germany and the United States.
Job Gain, High Loonie May Raise Bank Rates (Vancouver Sun)
According to Statistics Canada, Canada added 20,900 net new jobs in February, lowering the unemployment rate one basis point to 8.2%. The data indicates that the Canadian economy is moving forcefully out of recession.
Hiring Freeze Hits South Africa (Times Live)
Grant Thornton's 2010 International Business Survey reports the number of privately-held businesses that have increased employment in South Africa dropped 24 percentage points since 2008. During 2009, the South African economy lost approximately 900,000 job opportunities.
UK Unemployment Drops (Wall Street Journal)
UK unemployment fell at its fastest monthly pace in over 12 years in February, raising hopes that the UK economic recovery is gaining momentum.
More U.S. MBA Graduates Look for Jobs in Asia (Wall Street Journal)
Business Week reports that business schools in the U.S. are witnessing an increase in the number of graduates looking for jobs in Asian countries including China and India. The number of graduates looking for jobs outside the U.S. has doubled in the past five years, from 5% of the graduating class to more than 10%. This increase is due to comparable pay packages offered in other countries and the availability of opportunities.
Recession Left ‘Walking Wounded’ Workers (China Daily)
With the recession showing how quickly jobs can disappear, employees are increasingly becoming "nesters," who prefer to stay in one career or with one employer for their entire professional lives. Workers in developing economies like India and China are far more willing to jump from job to job than their counterparts in countries such as Germany and the United States.
Job Gain, High Loonie May Raise Bank Rates (Vancouver Sun)
According to Statistics Canada, Canada added 20,900 net new jobs in February, lowering the unemployment rate one basis point to 8.2%. The data indicates that the Canadian economy is moving forcefully out of recession.
Hiring Freeze Hits South Africa (Times Live)
Grant Thornton's 2010 International Business Survey reports the number of privately-held businesses that have increased employment in South Africa dropped 24 percentage points since 2008. During 2009, the South African economy lost approximately 900,000 job opportunities.
Friday, March 12, 2010
Week End Roundup: March 12th
In this week’s Week End Roundup: Steady staffing levels in Canada; increase in preference for female hires in India; and jobless recovery for Britain.
Canada's Employment Outlook Looking Up (Reuters Canada)
Canadian employers plan to hold staffing levels steady in the second quarter. According to a survey by Manpower, 75% of employers expect to maintain their current staffing levels, suggesting stability in a moderate economic recovery.
India Inc. May Hire More Women This Year (Economic Times)
More women are likely to join the corporate workforce in India this year, with overall hiring prospects picking up and companies increasingly striving to maintain a healthy male-female ratio.
Jobless Rate Holds Steady, Raising Hopes of Recovery (New York Times)
The monthly snapshot of the job market released by the Labor Department states that about 36,000 jobs were lost in February, while the unemployment rate remained unchanged at 9.7%. Compared with monthly job losses of more than 650,000 a year earlier and recent news pointing to the possibility of a slide back into recession, most economists construed the report as a sign that a tenuous recovery might be gaining momentum.
Hiring on Hold in a ‘Jobless Recovery’ (Financial Times)
Britain faces a jobless recovery as employers postpone recruiting plans until they see sustainable demand re-emerging. In Britain, the number of employers expecting to increase their headcounts in the next quarter only marginally exceeded those expecting a decrease – a net employment outlook of just 1%.
Canada's Employment Outlook Looking Up (Reuters Canada)
Canadian employers plan to hold staffing levels steady in the second quarter. According to a survey by Manpower, 75% of employers expect to maintain their current staffing levels, suggesting stability in a moderate economic recovery.
India Inc. May Hire More Women This Year (Economic Times)
More women are likely to join the corporate workforce in India this year, with overall hiring prospects picking up and companies increasingly striving to maintain a healthy male-female ratio.
Jobless Rate Holds Steady, Raising Hopes of Recovery (New York Times)
The monthly snapshot of the job market released by the Labor Department states that about 36,000 jobs were lost in February, while the unemployment rate remained unchanged at 9.7%. Compared with monthly job losses of more than 650,000 a year earlier and recent news pointing to the possibility of a slide back into recession, most economists construed the report as a sign that a tenuous recovery might be gaining momentum.
Hiring on Hold in a ‘Jobless Recovery’ (Financial Times)
Britain faces a jobless recovery as employers postpone recruiting plans until they see sustainable demand re-emerging. In Britain, the number of employers expecting to increase their headcounts in the next quarter only marginally exceeded those expecting a decrease – a net employment outlook of just 1%.
Monday, March 8, 2010
Candidate Shortlist Very Important in Europe
2009 was a unique year for recruiting globally, but European organizations had their own set of challenges.Across 2009, the Roundtable launched an exclusive European cohort of the Recruiting Effectiveness Dashboard (RED) to help our members hiring in Europe better understand the local recruiting climate.
What we found is intriguing. While European hiring managers are still rating their new hire performance below the global benchmark, the rating has improved steadily over the last year and half. This increase is occurring as the RED global benchmark has remained pretty much flat.
Why is new hire performance in Europe rising?
European hiring managers are now more frequently reporting that they were interviewing ‘A-level’ candidate shortlists. European hiring managers who interviewed an ‘A-level’ candidate shortlist observed 20% higher new hire performance than their peers who interviewed a ‘C-level’ shortlist observed. This reinforces, particularly for our European colleagues, the importance of putting together high-quality shortlists and how recruiting functions can help influence quality past the point of hire.
For resources to track, trend, and benchmark your critical recruiting metrics, visit the Recruiting Effectiveness Dashboard (RED). To learn more about European recruiting trends, Roundtable members can view the webinar replay, Findings from 2009 RED European Cohort .
What we found is intriguing. While European hiring managers are still rating their new hire performance below the global benchmark, the rating has improved steadily over the last year and half. This increase is occurring as the RED global benchmark has remained pretty much flat.
Why is new hire performance in Europe rising?
European hiring managers are now more frequently reporting that they were interviewing ‘A-level’ candidate shortlists. European hiring managers who interviewed an ‘A-level’ candidate shortlist observed 20% higher new hire performance than their peers who interviewed a ‘C-level’ shortlist observed. This reinforces, particularly for our European colleagues, the importance of putting together high-quality shortlists and how recruiting functions can help influence quality past the point of hire.
For resources to track, trend, and benchmark your critical recruiting metrics, visit the Recruiting Effectiveness Dashboard (RED). To learn more about European recruiting trends, Roundtable members can view the webinar replay, Findings from 2009 RED European Cohort .
Thursday, March 4, 2010
Week End Roundup: March 5th
In this week’s Week End Roundup: Rise in internal transfers; lowest planned layoffs in February; and mixed employment outlook for Canada.
New Hiring—Lately, It's More of an Inside Job (Wall Street Journal)
In 2009 employers filled more than half of job openings with existing employees. Internal transfers and promotions accounted for 51% of all full-time positions filled in 2009, up from 39% in 2008 according to CareerXroads.
Job Cuts Fall in February to Lowest Since 2006 (Washington Post)
The number of planned layoffs at U.S. firms fell to the lowest level in February since 2006, and employers appear to have shifted away from downsizing. Employers announced 42,090 planned job cuts last month, the lowest level of monthly job cuts since 37,178 were announced in July 2006.
Hiring to go Hand-in-Hand with Layoffs in 2010 (HR Canadian Reporter)
The Canadian employment picture looks mixed in 2010, with the majority of Canadian organizations planning to hire new staff (87%) while more than one-third are still planning targeted layoffs.
Don't Blame Snow: Feb. Jobs Data Likely to be Weak (Daily Times)
The February job report is likely to be bleak. The White House states that last month's snowstorms are expected to have artificially inflated job losses by at least 100,000. Private economists counter by stating that once the snow effect is filtered out, the data will still signal weak hiring.
New Hiring—Lately, It's More of an Inside Job (Wall Street Journal)
In 2009 employers filled more than half of job openings with existing employees. Internal transfers and promotions accounted for 51% of all full-time positions filled in 2009, up from 39% in 2008 according to CareerXroads.
Job Cuts Fall in February to Lowest Since 2006 (Washington Post)
The number of planned layoffs at U.S. firms fell to the lowest level in February since 2006, and employers appear to have shifted away from downsizing. Employers announced 42,090 planned job cuts last month, the lowest level of monthly job cuts since 37,178 were announced in July 2006.
Hiring to go Hand-in-Hand with Layoffs in 2010 (HR Canadian Reporter)
The Canadian employment picture looks mixed in 2010, with the majority of Canadian organizations planning to hire new staff (87%) while more than one-third are still planning targeted layoffs.
Don't Blame Snow: Feb. Jobs Data Likely to be Weak (Daily Times)
The February job report is likely to be bleak. The White House states that last month's snowstorms are expected to have artificially inflated job losses by at least 100,000. Private economists counter by stating that once the snow effect is filtered out, the data will still signal weak hiring.
Candidate Rules of Engagement: Breaking Through the Noise
The competition for jobs has swelled. As we reported a few weeks ago, the number of applications recruiters receive for a given position has more than doubled since 2007 (average of 70 in 2007 vs. 162 in 2009). Further, a large portion of these applicants are unqualified. In a recent RR survey of more than 400 recruiting professionals, over half reported 15% or less of the applications they recently received even meet basic qualifications.
How can candidates make recruiters lives easier and increase their chances of getting noticed? Below are recruiting professionals’ recommendations for candidates.
• Focus on your resume/CV first and foremost. Over 61% of recruiters say a really good cover letter does not matter.
• Only apply for positions where you meet most of the qualifications.
• Tailor your resume/CV to the job.
• During interviews, be very specific in examples of your previous experience.
Check out all the results of the Recruiting Roundtable’s Candidate Rules of Engagement Survey.
How can candidates make recruiters lives easier and increase their chances of getting noticed? Below are recruiting professionals’ recommendations for candidates.
• Focus on your resume/CV first and foremost. Over 61% of recruiters say a really good cover letter does not matter.
• Only apply for positions where you meet most of the qualifications.
• Tailor your resume/CV to the job.
• During interviews, be very specific in examples of your previous experience.
Check out all the results of the Recruiting Roundtable’s Candidate Rules of Engagement Survey.
Tuesday, March 2, 2010
Week End Roundup: February 26th
After a month of silence, the Week End Roundup returns! In this week’s Week End Roundup: Possible failure to create sufficient jobs; increase in outsourcing of UK jobs to India and Eastern Europe; and creative tactics to get MBAs in front of potential employers.
Millions of Unemployed Face Years without Jobs (New York Times)
The impact of the recession was of such severe magnitude that economist fear the recovery will fail to create jobs in sufficient numbers to absorb the unemployed.
Despite Visa Curbs, UK Companies Recruiting Indian Workers (The Times of India)
Despite recession and new restrictions on hiring professionals from India and other non-EU countries, British companies are continuing to recruit migrant workers to fill existing skill gaps in the UK. Among employers planning to outsource jobs overseas, more than half (51%) plan to relocate UK jobs to India, and more than a third (37%) plan to shift jobs to Eastern Europe.
Business Schools Get Creative as On-Campus Recruiting Dwindles (Wall Street Journal)
With fewer employers able to visit campus to recruit and interview MBAs, business schools are paying for video conferencing technologies and even student road trips to get their students in front of cash-strapped employers.
Fixed Income a Hot Area in Slow Jobs Recovery (Washington Post)
Banks are hoping that the fixed-income trading boom will lead to an increase in hiring this year. There is a preference for hiring cheaper junior staff rather than giving out big compensation plans to top managing directors. That said, exceptions are being made for senior executives with proven client relationships.
Millions of Unemployed Face Years without Jobs (New York Times)
The impact of the recession was of such severe magnitude that economist fear the recovery will fail to create jobs in sufficient numbers to absorb the unemployed.
Despite Visa Curbs, UK Companies Recruiting Indian Workers (The Times of India)
Despite recession and new restrictions on hiring professionals from India and other non-EU countries, British companies are continuing to recruit migrant workers to fill existing skill gaps in the UK. Among employers planning to outsource jobs overseas, more than half (51%) plan to relocate UK jobs to India, and more than a third (37%) plan to shift jobs to Eastern Europe.
Business Schools Get Creative as On-Campus Recruiting Dwindles (Wall Street Journal)
With fewer employers able to visit campus to recruit and interview MBAs, business schools are paying for video conferencing technologies and even student road trips to get their students in front of cash-strapped employers.
Fixed Income a Hot Area in Slow Jobs Recovery (Washington Post)
Banks are hoping that the fixed-income trading boom will lead to an increase in hiring this year. There is a preference for hiring cheaper junior staff rather than giving out big compensation plans to top managing directors. That said, exceptions are being made for senior executives with proven client relationships.
Subscribe to:
Posts (Atom)
Posts
