This Week's Herman Trend Alert Green Banks Thrive

The Herman Trend Alert October 14, 2009 Unprecedented Churning is Coming Now in its fifth year, the 2009 Employment Dynamics and Growth Expectations (EDGE) Report reveals some fascinating insights into what is going on in the hearts and minds of today's employees. A collaboration of the international staffing firm Robert Half, Inc. and a global provider of human capital solutions, Career Builder, this year's report provides an overview of the current hiring environment and a preview of the post-recession job market. A full 47 percent of managers surveyed cited "a shortage of qualified applicants" as their top hiring challenge*. Hiring managers said their time-to-fill a vacancy was an average 4.5 to 14.4 weeks. They also reported that 44 percent of the resumes received are "not qualified". The characteristics most valued by these hiring managers were "multitasking", "initiative", and "creative problem solving". Forty percent also reported that when the economy improves, they expect to use money as their primary method for retaining top performers. EDGE 2009 reveals interesting insights about the employee's perspective as well. Not surprising to us, 45percent plan to change "jobs, careers, or industries" when the economy recovers. Perhaps as a result of fear and/or the current state of the economy, nine out of ten "are satisfied with their current work situations". Nearly half of employees surveyed said higher compensation will be the most effective way to retain them after the economy improves. The top perks employees will be looking for are technology upgrades (79 percent) and tuition reimbursement or subsidized training (61 percent). Forty percent of companies said they intended to bring on contract, part-time, and/or temporary employees; they are not simply focusing on full-time hiring. Information Technology and Customer Service were the top areas for expected hiring in the coming years. Due to "corporate cocooning" (staying put out of fear), the "unprecedented churning" of the labor market we have forecast in the past has not yet happened. Now, we again see a high level of expectation of job hopping. Wise employers will heed this warning and take steps now to engage their valued employees and avoid this unwanted turnover. It will be full employment for Employee Retention SpecialistsTM. * Recently, a vocal cadre of our readers has appeared to dispute this finding © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." ANNOUNCING: EMPLOYER OF CHOICE® WORKSHOPS Have you wanted to be recognized as an Employer of Choice®? The first step is to send your champion to The Employer of Choice® Workshop. In Ho Chi Min City, Vietnam (17 and 18 March), Singapore (23 and 24 March), and Accra, Ghana (Week of 29 March), we will hold these two-day learning experiences. We will also hold a workshop in the United States in April. For more information, contact Joyce at 336-210-3548 or email, her: joyce@hermangroup.com. She will refer you to the local sponsor. LOOKING FOR A DYNAMIC KEYNOTE SPEAKER WITH A GLOBAL PERSPECTIVE? You need look no farther. Joyce Gioia (joy-yah) is a sought-after speaker in Asia as well as Europe, and of course the United States. Joyce shares her knowledge and expertise about talent engagement and retention with business executives around the globe. Her understandings and insights will inform and fascinate you. For more information on Joyce's topics, call Carol McKinney at 336-282-9370 or visit the web site at http://www.hermangroup.com/joyce.html. GOOD SELECTION = BETTER RETENTION If you are not using pre-employment assessments, you are flying without radar---not very smart in today's highly competitive environment. Let us help you better understand your candidates and your employees. In less than 30 minutes, you will know if they can do the job (abilities); their work behaviors, even their personality and attitudes (like integrity & ethics), and those can't be trained. It's very cost effective, too! For more information, contact Joyce at 336-210-3548 or e-mail assessments@hermangroup.com. Validated for many countries and cultures. We offer in-depth help with job descriptions, too! http://www.hermangroup.com/assessments.html Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. 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