October 2nd, 2018 by ifi-admin
As fourth quarter rolls out, the rate of unemployment continues to decline in the Delaware Valley, increasing the steady pressure on talent acquisition. Year over year, the unemployment rate has dropped from 4.8% in 2017 to 4.1%, as reported last week by the Bureau of Labor Statistics.
The year-end countdown has begun with the waning sunlight, leaving companies in a time crunch to find highly skilled technical candidates to fill open positions or risk losing the budgeted allocation. Read the rest of this entry »
August 28th, 2018 by ifi-admin
In a climate where technical talent is in high demand, no stone should go unturned in the search for ideal candidates. However, your company may be missing out on a third to half of the talent pool if your hiring process, like most, favors extroverts.
While unintentional in most cases, extrovert bias is a natural outflow from an emphasis on interview performance. It’s easier to want to give the job to a candidate who exudes confidence and charisma and responds adeptly to curveball questions.
“Extroverts are more accomplished at describing their value. With soft-skills being an important element for teamwork, it’s tempting for hiring managers to favor people who seem the most pro-social,” says Kay Durkin, founder of Phoenix Partners.
“However, in technical fields, introverts with a capacity for complex problem-solving are often better suited to many positions.” Read the rest of this entry »
July 26th, 2018 by ifi-admin
This summer hiring managers and human resources personnel, together with Independent Recruiters, are feeling the squeeze. Midsummer was once the season for long walks in the sand, sunsets at the cottage or lazy days on the boat, but in 2018, the talent war has not paused to draw a breath.
With the Bureau of Labor Statistics reporting a 2.3% jobless rate for managers/professional workers, it’s little wonder.
Globally, employers continue to struggle to find workers with the right skills. According to ManpowerGroup’s 2018 Talent Shortage Survey, almost half of US employers (46%) said they can’t find the candidates with the skills they need, up from 32% in 2015. Many of the toughest positions to fill are categories of special interest to Phoenix Partners and its clientele, including Engineers (#3), IT (#6), and White Collar professionals (#8). Read the rest of this entry »
June 21st, 2018 by ifi-admin
You’ve probably heard a lot of buzz about blockchain and cryptography, but if you’re like most people, you may have only a foggy notion of what it is and what it can do, specifically for you.
To understand the way in which blockchain technology may revolutionize hiring, it’s important to first have a clear picture of what it is, and why it’s different than databases or applicant tracking systems.
Read the rest of this entry »
May 24th, 2018 by ifi-admin
In an article published by Australian NPA network member Scott Van Heurck of Wood Recruitment, he suggested that the three keys to the successful selection of a recruiter are diligence, trust, and value added. We thought this topic would be interesting to expand upon.
Types of Recruitment
Recruiting firms offer different types of search proposals, with different terms, so it’s important for employers to understand the distinctions in order to determine if a firm offers the type of recruitment desired.
The three types of recruiting searches usually performed are Contingency, Engaged, and Retained search. In a contingency search, the recruiter is only paid when successfully filling a job opening. In an engaged search which is almost always done on an exclusive basis, the recruiter is given a deposit to cover research and other upfront costs; the deposit is then deducted from the final placement fee on successful completion of the search. In a retained search, the recruiter, by contrast, is paid a retainer fee whether or not a candidate is hired.
Phoenix Partners performs both contingency and engaged searches for clients. In today’s competitive hiring climate, engaged searches usually warrant prioritized time and attention. Read the rest of this entry »
April 19th, 2018 by ifi-admin
In the technical professions, it can be tough to recruit a gender-balanced and diverse field of applicants when a mere 26% of American women are programmers, and 11% are engineers, according to the Bureau of Labor Statistics. Monoculture is bad for business, and not just in terms of meeting equal opportunity employment benchmarks. A study on the economic impact of diversity in the workplace by McKinsey & Co. reports that companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. Companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians. Read the rest of this entry »
March 19th, 2018 by ifi-admin
Artificial Intelligence (AI) is a hot topic in 2018, with pundits from both the positive and negative camps predicting a paradigm shift in employment and productivity rivaled only by the industrial revolution. From robotic task execution to predictive algorithms, various strains of AI are already disrupting the workplace. Rapid advances in Machine Learning (ML), such as facial recognition, natural language understanding and computer vision, are increasingly in use in fraud detection, market analysis and medical diagnosis.
According to Forrester forecasts, automation will eliminate 17 percent of US jobs by 2027, offset by the growth of 10 percent new jobs from the automation economy. A McKinsey & Co report released recently projects that as many as one-third of American workers may need to find new lines of work by 2030.
The Organization for Economic Co-operation and Development (OECD), a Paris-based world research institution, has hosted symposiums and published research in an effort to analyze the impact of AI on labor markets. It predicts that there will be a further polarization of low-skilled and high-skilled jobs. Contributing researcher, Stuart Elliot of the US National Academies of Sciences, Engineering and Medicine, notes that only 11% of adults are currently above the skill level that AI is close to replicating. Read the rest of this entry »
February 26th, 2018 by ifi-admin
Whether or not you’re a fan of the winter Olympics, you have to admire the dedication and craft that paves the path to the podium. Gold medal winners are usually just a fraction more skilled – or luckier – than those next to them on the podium.
You wouldn’t dream of scoffing at a silver or bronze medal in the Olympics. Would you overlook a candidate who was previously a close second – or third – for a position with your company?
The Wall Street Journal addressed the issue recently in an article titled “Tight Labor Market turns Silver Medalists Into Winners.” In the article, Vanessa Fuhrmans cites the struggle to fill jobs in the tight labor market as cause for companies to court and hire their so-called “silver, and even bronze, medalists.” Read the rest of this entry »
February 5th, 2018 by ifi-admin
In today’s global economy where many larger companies have facilities outside the United States, recruiting in a foreign culture to fill positions at these locations can be a challenge. Working with a company like Phoenix Partners which has international resources can facilitate the recruiting process.
What’s At Stake
According to the American Enterprise Institute, thinking globally is essential for survival in the current business climate. In an analysis of the World Investment Report, economic professor Mark Perry wrote that many of our largest US-based multi-national companies (MNCs) have close to two-thirds of their total sales outside the US. Almost all of these MNCs have more than half of their workforces outside the US, and some employ nearly 75% of their workers overseas. Many of the US MNCs above have more than half of their corporate assets (property, plant and equipment) located outside the US. Read the rest of this entry »
January 9th, 2018 by ifi-admin
Employers who seek to win the IT Talent war need to develop new strategies in 2018 to remain on the leading edge and thus be able to hire the “best and brightest”.
Last week the Bureau of Labor Statistics (BLS) reported that the unemployment rate remained stable nationally for the third consecutive month in a row at 4.1%. In the metropolitan Philadelphia-Camden-Wilmington area the jobless rate dropped to 4.4%, .1% lower than the same time last year.
At the same time, information technology roles remain the fastest growing occupation, projected to add 546,000 new jobs to the workforce in the next decade. Read the rest of this entry »