Unemployment

The Secret Weapon For Your Millennial Retention Strategy

IStock_70826111_XXXLARGEEmployers are realizing that putting total control of retirement decisions in the hands of their employees was a bad idea.  Older employees are delaying retirement due to underfunding of their retirement portfolios and market volatility.  The end results are increased healthcare costs for companies to support an aging employee population and decreased upward mobility for younger employees.  Many employers have taken steps to solve the underfunding problem for future generations of retirees through auto-enrollment and auto-escalation in defined contribution plans.   However, they have been unable to solve a continually nagging problem.  How do they retain their millennial employees?

Human Resources leaders now have a new secret weapon for solving the millennial employee retention issue.  The $1.2 trillion of outstanding student debt new hires are facing.  According to a recent article publishing in the Wall Street Journal, 70% of seniors took out loans for their education and are carrying an average of over $37,000 in student debt.  More and more companies such as Fidelity, PricewaterhouseCoopers, and SunTrust are launching employee debt assistance programs, in response to the record amount of student debt new employees will have accrued by the time they enter the workforce.   

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Hire Those Job Seekers That Are Doing Creative Things to Get Noticed

Whats-it-like-to-be-a-recruiter-imagine-a-browser-with-2487-tabs-open-all-the-time-ef3a7If you’re looking to make a change in the way your company operates, maybe you need to change your hiring process. Seek out the job seekers that are doing creative things to get noticed. Their fresh ideas likely don’t end once they accept your job offer. They’ll bring innovative, out of the box ideas to the job, so go ahead and respond to that girl who sent over a box of candy bars wrapped in her resume, or call the guy who announced that he’s searching for a job on a billboard. Take the risk and soak in the reward.  

As a recruiter we know you spend countless hours sitting in front of a screen with what seems like a thousand tabs up, scouring the internet for the perfect candidate. But sometimes, you need to do something different. And who knows it could pay off big.

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Job Seeker Said He Put Up a Billboard Because 'Nothing Else Was Working'

IMG_3775 (003)We often hear from job seekers who are frustrated with traditional job search tactics and feel the need to take the road less traveled to stand out. We’ve heard about a lot of interesting gimmicks, like the girl who wanted to work at Airbnb so she built a webpage to highlight her resume to mimic an Airbnb posting, or someone else who created wrappers for chocolate bars with her resume in place of the nutrition label, or Daniel Seibert who just this week put up a billboard to advertise that he is looking for a career.

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Would You Work a “Gig” in Today’s Shifting Economy?

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[Excerpted from Social Hire]

The gig economy in the U.S. has grown rapidly in recent years, with more workers taking on freelance, independent contractor and other non-traditional jobs. Within this new landscape exists a growing number of opportunities with on-demand companies, such as driving for Uber or performing jobs through TaskRabbit. With the freedom to act as your own boss and work flexible hours, you’d think people would be jumping to pursue these non-traditional employment opportunities. Most people, however, continue to prefer the stability of traditional jobs.

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How Embracing The Gig Economy Can Create A Happy Work Environment For Your Employees

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Recently Beyond conducted a survey to understand the booming gig economy. And the gig economy is such a hot topic at the moment that Beyond’s Senior Vice President of Marketing, Joe Weinlick was asked to talk to CBS about it. Here’s the conversation.

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You'll Be Shocked To Hear What Freelance Workers Are Demanding

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Beyond
recently conducted a survey of more than 5,000 job seekers, which revealed that many are hesitant to pursue the growing number of independent contractor opportunities with on-demand companies, such as driving for Uber or performing jobs through TaskRabbit. The survey found that 68% of respondents indicated that they would not work for an on-demand company or would maybe consider it depending upon their financial situation at the time. The gig economy in the U.S. has grown rapidly in recent years, creating more independent contractor opportunities for workers. However, the survey results showed that the lack of legal rights and benefits for on-demand contractors are deterrents for job seekers. 

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National Survey Finds Disconnect Between Employers and Job Seekers

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Future Workplace
, a research firm dedicated to rethinking and re-imagining the workplace, and Beyond, The Career Network, recently announced results of a national survey that found a disconnect between employers and job seekers. The “Active Job Seeker Dilemma” survey includes a national sample of 4,347 job seekers, as well as 129 human resource (HR) professionals. According to 71% of HR professionals surveyed, employee referrals are the best resource for finding candidates, yet only 7% of job seekers surveyed view referrals as their top resource for finding a job. In today’s employment landscape, job seekers who are “passive” with a wide network of referrals have the advantage over job seekers who are “active.”

When it comes to the job search, “passive job seekers,” or those who are employed but open to new opportunities, have a better chance of being hired over “active job seekers,” or those who are unemployed and searching for work. Employers value “passive job seekers” and according to the survey, 80% of HR professionals believe “passive job seekers” become the most effective employees. HR professionals also say the benefits of hiring a “passive job seeker” over an “active” one include: they have more experience (44%), they possess valuable skills (44%) and they take their careers seriously (42%). However, many job seekers are unaware of this advantage. When asked about who has a better edge in the job market, less than half (47%) of job seekers said “passive job seekers”.

In addition to the “active job seeker” disconnect, the survey also revealed the sentiment of HR professionals and job seekers in various areas.

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Indebted to You? Student Loan Benefit Could Be Key Retention Tool

IStock_000067236363_Double[Excerpted from Workforce]

With crippling student loan debt the norm these days, a survey finds employees are attracted to companies that offer repayment benefits.

Every day parents and students alike research the cost of a college education — and sticker shock sets in. Even worse than knowing the cost of college is actually paying the bills after graduation.

That’s why some employers are now looking to attract talent by setting their sights on something that pains many young people in the workforce: crippling levels of student loan debt.

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Are We Having Trouble Hiring Because We’re Too Darn Picky?

IStock_000053696338_FullIn a recent survey of HR professionals conducted by us (Beyond), we learned that HR Pros said that it is harder to find qualified candidates today than it was six months ago.

Tweet This: HR Pros said that it is harder to find qualified candidates today than it was 6 months ago.

Is it harder to find candidates because we’re slowly accepting that it’s now a candidates’ market? Or is it that we’re too darn picky? Are we disqualifying great candidates too early in the hiring process for forgivable mistakes? I know...I have a lot of questions.

According to our survey, the number one reason a recruiter disqualifies a candidate for a job is for a spelling error on their resume and the second most popular reason is a grammatical one.

When employers had their pick of the litter of candidates any little reason to disqualify someone was needed to narrow the pool, but with hiring becoming more challenging, is a grammatical error on the resume of a software engineer really such a crime?

According to HR Pros it is—along with these four other offenses. Let us know if you agree.

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