Fred Harteis News Articles - Recent reports from the Labor Department indicate that while the expansion of the economy is slowing, it is doing so at a reasonable pace, and inflation has steadied. A moderated, yet stable, job market is expected to carry over into 2007 with gains that will remain strong enough to keep the unemployment rate in check.
Employers are expected to become more competitive in their recruitment and retention efforts in the New Year as the pool of skilled labor shrinks and productivity growth plateaus. Forty percent of employers report they currently have job openings for which they can’t find qualified candidates.
This bodes well for workers who are likely to benefit from more generous job offers, more promotions, more flexible work cultures and other major trends identified for 2007:
No. 1 -- Bigger Paychecks
To motivate top performers to join or stay with their organizations, employers plan to offer better compensation packages. Eighty-one percent of employers report their companies will increase salaries for existing employees.
• Sixty-five percent will raise compensation levels by 3 percent or more while nearly one-in-five will raise compensation levels by 5 percent or more.
Nearly half of employers (49 percent) expect to increase salaries on initial offers to new employees.
• Thirty-five percent will raise compensation levels by 3 percent or more while 17 percent will raise compensation levels by 5 percent or more.
No. 2 -- Diversity Recruitment -- Hispanic Workers in Demand
Understanding the positive influence workforce diversity has on overall business performance, employers remain committed to expanding the demographics of their staffs.One-in-ten employers report they will be targeting Hispanic job candidates most aggressively of all diverse segments.
• Half of employers recruiting bilingual employees say English/Spanish-speaking candidates are most in demand in their organizations.
No. 3 -- More Flexible Work Arrangements
Work/life balance is a major buzzword among employers as employees struggle to balance heavy workloads and long hours with personal commitments.
• Nineteen percent of employers say they are very or extremely willing to provide more flexible work arrangements for employees such as job sharing and alternate schedules. Thirty-one percent are fairly willing.
No. 4 -- Rehiring Retirees
Employers continue to express concern over the loss of intellectual capital as Baby Boomers retire and smaller generations of replacement workers fall short of labor quotas.
• One-in-five employers plan to rehire retirees from other companies or provide incentives for workers approaching retirement age to stay on with the company longer.
No. 5 -- More Promotions
With the perceived lack of upper mobility within an organization being a major driver for employee turnover, employers are carving out clearer career paths.
• Thirty-five percent of employers plan to provide more promotions and career advancement opportunities to their existing staff in the new year.
No. 6 -- Better Training
In light of the shortage of skilled workers within their own industries, the vast majority of employers -- 86 percent -- report they are willing to recruit workers who don’t have experience in their particular industry or field, but have transferable skills.
• Seventy-eight percent report they are willing to recruit workers who don’t have experience in their particular industry or field and provide training/certifications needed.
Source: Aol.com
About Fred Harteis: Fred Harteis leads Harteis International. Fred Harteis has a background in agriculture and has created many successful business ventures.