January 6, 2017 – A new year means new beginnings, new opportunities, new resolutions, and for some workers, a new job. According to a new CareerBuilder survey, more than one in five workers (22 percent) are planning to change jobs in 2017, similar to last year (21 percent).
Among younger workers, the numbers are even higher. More than a third of workers ages 18 to 34 (35 percent) expect to change jobs in 2017, compared to 30 percent last year. This compares to 15 percent of workers ages 35 and older. Millennials, it seems, can’t sit still in one job for too long; what this means for their long term career prospects hasn’t yet fully been determined.
The survey, which was conducted by Harris Poll on behalf of CareerBuilder and included a representative sample of 3,411 workers across industries, found 35 percent of workers are regularly searching for new job opportunities, even though they’re currently employed. That marks a one point increase since last year (34 percent).
“Whether it’s unemployed people trying to find their way back to the workforce or those who are currently employed attempting an upgrade to greener pastures, a new year makes many people set their sights on job hunting,” said Rosemary Haefner, chief human resources officer (CHRO) for CareerBuilder. “To keep your top workers, you need to keep a pulse on what they’re seeking. For example, poll your employees from time to time to learn more about their goals and motivations and how they want to be treated.”
What Workers Want
Aside from finding a new job, the top New Year’s resolutions that workers say they’re making for the office this year are: save more pay: 49 percent (vs. 38 percent last year); be less stressed: 38 percent (vs. 28 percent last year); get a raise or promotion: 30 percent (vs. 26 percent last year); learn something new (take more courses, training, seminars): 26 percent (vs. 17 percent last year).
When asked what extra perks would make them more willing to join or stay with a company, the most popular choices workers pointed to include half-day Fridays: 40 percent; on-site fitness center: 27 percent; being able to wear jeans: 23 percent; daily catered lunches: 22 percent; having own office: 22 percent.
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3 Ways to Kick Start Your Career In 2017
Ms. Haefner shared a few additional tips aimed at keeping job seekers informed and improving their chances on the career hunt:
- Grow your network: Tired of collecting business cards at cocktail mixers and lunch-and-learns? It might be time to mix up your networking routine with some fresh new tactics. Try stepping outside your usual roster of groups and events to grow your professional circle even wider.
- Polish your personal brand: By having a clear message of who you are, what experience you have and what direction you’re going in, you’re conveying your identity to the hiring manager instead of being a faceless part of the crowd.
- Make social a priority: Follow companies you like on social media and engage with them. Consider starting a blog that is related to your career interests. While on social channels, make sure you clean up your own digital dirt. Nothing is truly private on the Web, and it would be a shame to miss out on a job opportunity because of some embarrassing photos from years ago. Also make sure your profile is relevant. Think through the eyes of a recruiter and keep your employment history and education updated.
While job seekers are stepping up their efforts to find new employment, hiring managers in the U.S. seem prepared to meet them halfway by hiring more professionals in 2017. However, hiring managers are likely to be more cautious with their hiring plans than in the past two years, according to the semi-annual hiring survey by DHI Group. More than half (56 percent) of hiring mangers anticipate increased hiring levels in the first half of 2017. But this is a six point drop from when this group was last surveyed in June and a five point drop from a year ago.
More On Hiring Trends:
With the election over and Donald J. Trump assuming office two weeks from today, companies are poised to step up hiring plans that have been on hold since the summer. And from what we can tell, employees are ready to make their next job moves now. Here’s some further reading from Hunt Scanlon.
More Than Half of U.S. Employees Are Seeking New Jobs
Employees spanning all generations are looking at industries outside of the current one they are working within for new opportunities. The top industries candidates are considering migrating to include technology & software, entertainment, communications, banking & finance and consulting.
Companies Continue Upbeat Hiring Forecast
U.S. companies in aggregate have added jobs every month for the last six years, and the latest forecast from CareerBuilder shows this trend will continue. One third of employers plan to add full-time, permanent employees during the next three months and 37 percent plan to hire temporary or contract workers.
Employee Confidence Soars As Workers Gain Leverage
More than half of American employees believe if they lost their job they would be able to find a new job matched to their experience and current compensation levels in the next six months. This reveals the second-highest confidence in the U.S. job market since Glassdoor began its survey in 2009.
A New Landscape
With the U.S. economy nearing full employment capacity, companies are facing a confluence of staffing and talent management issues that reflect the changing nature of the labor market. Seventy six percent of HR professionals, according to a new study by the ADP Research Institute and The Economist Intelligence Unit (EIU), expect the market for skilled workers will continue to tighten and 75 percent anticipate turnover in the next three years. This new landscape stands to drive competition for talent. For executive recruiters, this likely signals more business ahead in 2017.
Inadequate Talent Supply
Numerous reports continue to come out citing that lack of quality talent is an issue among companies despite a large amount of people seeking new employment opportunities.
The inadequate supply of qualified and skilled talent is the second-biggest threat to U.S. companies’ ability to meet revenue or business performance targets, second only to “increased competitive pressures,” concluded a recent Randstad ‘U.S. Workplace Trends’ report. Nearly eight-in-10 hiring decision makers (79 percent) agree that when positions become available at their organization, they struggle to find people whose skills match the job requirements.
“Often the challenge for hiring executives isn’t the quantity of available candidates, instead it’s the increasing difficulty in finding talent that is qualified, with the right skills and cultural fit for the position,” said Jim Link, chief human resources officer (CHRO) of Randstad North America.
People are the key factor linking innovation, competitiveness and growth for companies today, he said. “But securing skilled workers is getting more complex and challenging than ever before.” As organizations further increase their hiring activity, he added, low unemployment means business leaders will have to work harder at hiring and keeping quality talent particularly as employees gain more options and confidence to change employers.
Ninety five percent of recruiters expect finding new talent to be as or more challenging in 2017 as this year, according to the latest ‘Recruiter Nation Survey’ conducted by Jobvite. Corporate recruiters cited a lack of skilled candidates (65 percent) and dealing with hiring managers moving candidates through the hiring process (48 percent) as their biggest challenges. Recruiters expect competition for talent to be in the most demand within hospitality (87 percent), manufacturing (79 percent) and healthcare (78 percent).
To keep up, the Jobvite report found that in-house recruiters are offering both traditional and non-traditional incentives to lure candidates, like raising salary offers (68 percent), awarding monetary bonuses to incentivize referrals (64 percent), allowing for flexible work hours (44 percent), and implementing a casual dress code (44 percent).
Job creation has been “steadily increasing” ever since the recession, “forcing corporate recruiters to double up their efforts to fill positions with quality candidates,” said Dan Finnigan, chief executive officer of Jobvite. “But there simply aren’t enough educated, talented and qualified candidates to keep up with the demand.” As a result, he says, “these recruiters must now go above and beyond by helping to create compelling employer brands and an exceptional candidate experience to keep their clients happy.”
Finding the Right Skill Sets
According to a recent Right Management report, companies are struggling to find people with the precise skills or combination of skills they need. Over one third of employers worldwide said they were having trouble filling positions due to lack of suitable talent.
As the global demand for highly skilled labor continues to grow, the Right Management report suggests that leaders will need to align their talent strategies with their business strategies to ensure that they have the right people in place, and rethink old assumptions about work models, people practices and talent sources.
“As the struggle to find the right talent continues, and candidates with in-demand skills get the upper hand, employers will be under pressure to position themselves as ‘talent destinations’ to attract the best workers that will drive their business forward,” noted Mr. Wright.
Competition is indeed fierce for skilled talent. “That means it’s more important than ever that companies resolve to invest in the recruitment and development of top talent and explore creative, progressive staffing solutions,” said Joyce Russell, Adecco Staffing USA president.
Contributed by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media