January 24th, 2014
Professional Staffing Jobs Report: January 2014
Widespread Sickness and Freezing Temperatures Impact December 2013 Hiring
December Hiring Numbers Come Up Short
When the BLS released “The Employment Situation – December 2013” jobs report, economists across the country were at a loss for words. Just 74,000 jobs were added to nonfarm payrolls in December, despite a prediction of 197,000. Prior to this report, employment in the US was averaging 204,000 new jobs on a monthly basis (August-November). Confusion and disappointment surround the report, as this number is the smallest gain seen in the US since 2011.
Ice and Illness
The holiday season always has an impact on the December jobs report, but December 2013 has many other factors impacting it all at once. One influencing factor was weather. The Polar Vortex is expected to cost the US $5 billion as a result of high bills, cancelled flights, and damage. With hundreds of offices closed because of weather conditions, it’s clear that hiring was difficult. Aside from weather, the US has also been battling a widespread flu outbreak. According to the Centers for Disease Control and Prevention, widespread influenza activity has been reported in 40 states. With weather and illness hitting them at once, it could also be said that job seekers may have lacked motivation to apply for jobs in December.
Temporary Help Flourishes
Professional and Business Services added 19,000 new jobs in December. Within the last 12 months alone, the sector has generated 637,000 new jobs. The report also shows that employers are still utilizing staffing companies. The Temporary Help Services sector reported its eleventh successive month of job creation, with 40,400 new jobs generated December 2013. 2.8 million workers were employed within the sector.
Where should HR go from here? (ABA Banking Journal)
One of the challenges financial institutions face in the age of Big Data is how to quickly sort through vast amounts of customer and market data to discern the few pieces of critical information that are needed to make a decision. Human Resource departments face a comparable challenge as they analyze a growing pool of data about employment trends and concerns in an effort to devise more effective ways to attract, hire, motivate, and retain a talented workforce.
Take, for example, the annual Crowe Horwath LLP Financial Institutions Compensation and Benefits Survey, subject of this series. The 2013 survey responses by themselves offer a wide variety of interesting insights into human resource practices in U.S. financial institutions. But the real value of the research is achieved when banks use the survey results to improve the effectiveness of their employment practices.
This article, the conclusion of a seven-part series on the 2013 study, examines what the survey results tell us about the top human resource issues banks can expect to encounter in 2014 and beyond, and how they can begin to apply the findings in their own institutions.
Read more from ABA Banking Journal.
Embrace social learning technology, no matter your company size (HR.BLR)
Adoption of new technologies can pose a challenge for some companies, and social learning technology is no exception. However, many companies of all sizes are leveraging the technology anyway—as a means of engaging their employees in the learning process.
In fact, more than 65 percent of companies that participated in a recent survey reported that they are using social learning technology. “State of the Industry Study: A Pulse on Social Learning” surveyed 500-plus decision-makers at companies of all sizes and in a variety of industries. The study, conducted by Saba®, in partnership with the Human Capital Media Advisory Group, found that companies are embracing the technology despite the challenges they confront when adopting it.
Researchers found that nearly two-thirds of participating organizations are motivated to use social learning to support a culture of learning, despite the fact that half of survey respondents pointed to challenges with adoption and uptake by employees.
“As companies adapt to today’s new world of work, it’s now more important than ever that they focus on connecting people and content with social technology,” said Emily He, senior vice president, marketing at Saba. “Based on the results of this study, a majority of businesses are already leveraging social learning to foster a culture of collaboration and innovation.”
Read more on HR.BLR.com
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