Category: Economy

  • Adjusting your recruitment strategies: How to fit a square peg into a round hole

    Can recruitment strategies change with the job market? Is it always necessary to find just the right person for a job—or can a square peg be reshaped to fit into a round hole?

    Currently, with record low unemployment, hiring managers might need to consider candidates who are short on desired skills but are a good company fit. On-the-job training can often fill the gap. But what else can help to ensure success?

    Kate and Rob: A study in recruitment strategies and outcomes

    Kate and Rob started the same day in customer service positions. Neither had the related experience the hiring manager had in mind. But they appeared eager to learn new skills. At the end of a six-month probation, Kate had enjoyed her customer interactions and was respected by team members. She was a shoo-in for a permanent job. But Rob struggled to address customers’ concerns adequately, and he didn’t manage staff well. He and his employer both realized he was in an ill-fitting role and agreed to part ways.

    Neither Kate nor Rob were ideally experienced for their jobs. So, why did Kate succeed in her new position, while Rob didn’t last?

    Kate thrived because her personality was well suited for it. Rob’s, however, ... Read More

  • Looking for experience when recruiting employees? Consider older workers

    With the low unemployment rate coinciding with many older adults working longer, it would be wise to be more open to the skills of well-experienced workers when recruiting employees.

    The unemployment rate in southcentral Pennsylvania ranges from 3.7 to 4.2 percent, and businesses remain challenged by the difficulty of finding skilled workers. At the same time, employees age 55 and up have been the fastest-growing segment of the American labor force for more than 20 years. The U.S. Department of Labor expects this trend to continue through 2026.

    A 2016 Gallup poll showed that one in every three employed adults intends to work until age 68 or older. But despite the tight labor market, many of them have been downsized from their jobs and have had difficulty finding a new one.

    Include qualified older workers in your plans for recruiting employees

    About 60 percent of older workers who lose their jobs retire involuntarily because they can’t find new ones, according to a report from the Center for Retirement Research at Boston College. So, why don’t they want to retire early? Of course, some older persons need to work for financial reasons, but not all. Some prefer to keep working because they are healthy and ... Read More

  • When should you hire a recruiting agency? Take our five-question quiz to find out

    Company hiring managers may be uncertain as to whether to engage a recruiting agency or handle the challenge of recruiting themselves. But with most professionals currently employed and reasonably satisfied, finding candidates for key positions is proving more difficult than ever.

    As 2018 began, 86 percent of highly qualified candidates for job vacancies were employed and not actively seeking new jobs, according to a survey by Talentnow, a recruitment software company. On the management side, 73 percent were struggling to find suitable candidates. As we near the end of the year, the situation remains much the same.

    If you need to find the best candidates for a key position, don’t procrastinate. Your search could take even longer than it would have a year or two ago.

    Take the quiz—then learn what recruiting agencies can do for you

    Below for your consideration are five questions to help you decide whether to embark on recruitment independently or contact a professional recruiting agency.

    The more “yes” answers you have, the greater the urgency for you to contact a job recruiter.

    1. Is this position particularly vital—one that has an effect on company performance and profits?
    2. Are you consumed with other responsibilities, giving you little time to devote to a search?
    3. Do you ... Read More
  • Seven job recruitment strategies the pros use for finding tech talent

    As low as the unemployment rate is in our area (incredibly, 2.9 percent in Lancaster County), it’s even lower for some technology categories. So, if you’re looking for tech workers—as TriStarr recruiters do for clients—I can sympathize. The need is great, and the competition to find candidates is tough.

    With more jobs available than skilled professionals over all industries, workers are leaving for greener pastures. A recent report from the U.S. Department of Labor shows that 2.4 percent of Americans are leaving their jobs this year, the highest level since 2001. That’s one in 42 workers.

    Tech workers are on the move for the right positions, but they can be selective due to the high demand for their skills. And while some of the highest-paying jobs for recent graduates are in the tech industry, you might have to entice experienced tech workers with more than a nice paycheck to get them to work for you.

    How can you be smarter about recruiting tech professionals? Here are seven job recruitment strategies the pros use:

    • Watch subscription-only specialized job boards and websites to reach the best tech professionals in their fields.
    • Attend conferences, trade shows, and meetings where tech pros gather to get to know and network ... Read More
  • How to find candidates in southcentral PA’s tight recruitment market

    The low unemployment rates in Lancaster, York, Dauphin and Berks counties (from 4.0 to 4.4 percent) may be good for job applicants but present a challenge for employers who have open positions to fill.

    Some searches are requiring excessive time and patience, particularly for positions that entail specific technical skills.

    While new college and trade school graduates continue to enter the workforce, the supply of experienced, specialized workers in some fields can’t keep up with the demand. That’s why companies now need to be especially smart when recruiting and rewarding employees.

    A strategic recruitment plan helps to ensure that you’re doing all you can to find the professionals that you need. Here is a list of several actions to include in your recruitment plan:

    • Find opportunities to network with your peers from other companies, who may have leads for you from time to time.
    • Post open positions on online sources—not just print. Use your website, social media job-posting sites and job boards of professional organizations.
    • Use recruitment outsourcing. Work with a recruiting specialist (headhunter) with experience finding talent in your areas of need. Recruiting firms will have contacts, resources and inside information that you don’t have.
    • Review your salaries, compare them to the local market and adjust ... Read More
  • Job Openings at 14 Year High

    But….

    There’s always a but, right?  The US Department of Labor reported that the number of opTriStarr logo-FINALen jobs in the United States was the highest in 14 years.  The BUT is that companies FILLED those positions at the slowest pace since the end of last Summer.  Job openings rose 2.5% in January 2015 to a seasonally adjusted 5 million – that’s the highest since 2001.  Available jobs were 28% higher compared to one year ago.  While hiring rose an even faster 3.5% to 5.24 million, that is the slowest rate since last August. Poor winter weather may be one cause.  Ok – here’s another but- but companies also complain that it has become increasingly harder to find workers with the precise skills they need.

    The latest employment survey from the National Federation of Independent Business, for example, says the number of job openings that went unfilled rose to an eight-year high. At the end of January there were 1.8 unemployed workers per job opening, according to the Job Openings and Labor Turnover report, up from 1.78 in December. With the labor ... Read More

  • Wages. It All Comes Down to Supply and Demand

    Wages, wages, wages.  It all comes down to supply & demand. I first learned about supply and demand in the last century, in High School!  I’m not going to bore you – if you’re reading this you know what it is.  But two news stories this morning made me think back to the big hair and parachute-pant days of the 1980’s.home-jobseekers-300x198[1]

    The US Labor Department reported this morning that weekly applications for unemployment aid dropped to by 21,000 last week to a 15 week low.  As newscasters like to say, in related news….  Wal-Mart announced yesterday that it is spending $1 Billion (yup – Billion) to increase wages and improve training of their employees.  Wal-Mart will be raising entry level wages to at least $10/hr by February of next year.  This includes the less than 6000 Wal-Mart workers who make the Federal minimum wage of $7.25/hour.

    So – is this Wal-Mart suddenly becoming benevolent and giving money away?  I guess… not.  Is this Wal-Mart attempting to fend off unionization efforts?  Again – I think not.

    It’s simple economics.  There are fewer and fewer qualified people for every job available today (the supply is ... Read More

  • Lancaster County Economy “Still Not Back” to Pre-Recession Levels…. Is that All Bad?

    The National Association of Counties recently released its “County Economic Tracker 2014, Progress through Adversity” report and the headline is not good for Lancaster County. But upon further analysis I’m not so sure that I agree 100%.

    The report looks at four areas: jobs; unemployment rate; GDP; and home prices.

    The report states that the Lancaster County Economy remains behind in all four areas. I believe that in many respects that’s good. Here’s why.

    • Home Prices – It seems to me that overinflated home prices was a contributing factor in the recession (or mess as I like to call it) in the first place. Home prices are recovering – just not at pre-recession levels. I’d argue that’s better than if prices were back to those levels. Slower, incremental growth works for me in this area.
    • GDP – OK – this is one I’d like back at pre-recession levels. However – the forecasters I follow are all looking for smaller growth in the near term. Growth still works for me.

    Now on to my specific area of expertise:

    • Job Growth & Unemployment Rate – I’m lumping the other two indicators of the report into one bullet. Lancaster County’s pre-recession unemployment rate was 3.6%. I’ve said this before ... Read More