Category: Talent Acquisition Strategy

Talking Talent: Building an Employer Value Proposition and Employer Brand for the Future, Part One

Posted on by nfuqua

This is the first Talking Talent episode in a two-part conversation about employer value propositions and employer branding.

As employers face increasing competition for the best talent, a well-defined employer value proposition (EVP) and employer brand strategy have become more important than ever. In a candidate-driven market, employers need to stand out to their target talent audiences through a unified EVP and employer brand. High-quality candidates know what they want out of a future employer, and organizations that don’t effectively show their value to candidates risk losing them to the competition.

To talk about this, joining us is Simon Wright, Managing Partner of Talent Advisory here at PeopleScout.

With more than 20 years of experience in RPO and talent management consulting, Simon brings a global perspective to talent acquisition and engagement—having spent time living and working across the EMEA and Asia-Pacific regions.

As Managing Partner for our Talent Advisory practice, Simon is a trusted advisor to HR and talent leaders. Operating at a strategic level, Simon has a proven track record of building and driving creative and innovative strategic talent programs that positively impact business performance. 

Simon leads an industry-leading (and award-winning) multi-disciplinary team of subject matter experts across the talent lifecycle – including employer brand and EVP, assessment and development, and diversity and inclusion – who deliver impressive outcomes for clients across a range of industries and sectors.

In this episode, Simon makes the business case for investing in EVP and employer brand development. He explains what makes a strong EVP and what steps you need to take to build one at your organization. Simon also walks us through an EVP and employer branding platform built by his team for Linklaters, a global law firm, sharing the background and the impact it made for the organization.

You can listen to part two of this podcast here.

Safran Nacelles: Cutting Time-to-Hire by Over 30% for Critical Engineering Talent

Posted on by akessler
Safran Nacelles: Cutting Time-to-Hire by Over 30% for Critical Engineering Talent

Safran Nacelles: Cutting Time-to-Hire by Over 30% for Critical Engineering Talent

PeopleScout RPO sourced specialist engineering talent for Safran Nacelles, reducing time-to-hire by a third and cutting cost-per-hire in half.

33 % Reduction in Time-to-Hire
50 % Reduction in Cost-per-Hire

Situation

Safran Nacelles, an aerospace and defence company, needed to attract experienced stress engineers to join in permanent roles. However, experienced stress engineers are in very short supply as they are an essential part of the design and test processes for aircraft components.

The aerospace market is highly competitive, and the best candidates often opt for contracts rather than permanent positions. After 18 unsatisfying months trying to fill roles with their previous supplier, Safran Nacelles approached PeopleScout for help through recruitment process outsourcing (RPO).

Solution

Four things defined our approach: rigour, innovation, relationships and brand unity.

To understand the skills, experience and behaviors that typified an excellent candidate for Nacelles, we held a detailed briefing with hiring managers and stakeholders. Next, we devised a sourcing strategy, including deep web searching, competitor mapping and tapping into online forums, reaching out to candidates from Romania, India and the UK.

Our recruiters worked onsite at the Nacelles headquarters to build great relationships with the hiring managers. Every contact by PeopleScout recruiters was made under the Nacelles name, whether sourcing candidates, conducting interviews or leading tours of the factory. Nacelles and PeopleScout collaborated as one.

“The agreed time per hire was 45 days, but you achieved an average is just 30 days. That’s a reduction of 33%.”

Results

By managing every part of the process, we substantially streamlined Nacelle’s talent acquisition program, yielding fantastic results. The agreed time-per-hire was 45 days, but our average was just 30 days–a reduction of 33%. Within a month, we filled the first three roles and placed nine more stress engineers in permanent roles at Safran Nacelles—an unheard-of achievement in the aerospace industry.

Plus, we cut the cost-per-hire in half.

At a Glance

  • COMPANY: Safran Nacelles
  • INDUSTRY: Aerospace & Defence
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing
  • LOCATIONS: Romania, India and the UK
  • ABOUT SAFRAN NACELLES: Safran Nacelles is a French multinational aerospace and defense corporation that designs, develops and manufactures aircraft components as well as various aerospace and military equipment.
Let’s Connect

Virgin Media: Hiring More Women Technicians

Posted on by akessler
Virgin Media: Hiring More Women Technicians

Virgin Media: Hiring More Women Technicians

Virgin Media asked their RPO partner PeopleScout to improve diversity for their field technician roles.

2 x More Women Hired to Engineering Roles
20 % Early Attrition Reduction
20 % Reduction in Candidate Attraction Budget
376 Hours of Hiring Manager Time Saved

Situation

After publishing their gender parity report, Virgin Media set PeopleScout, their RPO partner, the challenge of recruiting more women technicians or Field Sales Advisors—a role which has 99% male incumbents.

The previous year we successfully hired 275 Field Sales Advisors. This year, Virgin Media increased that number to 450, but has less budget available for candidate attraction.

With requisitions up, budget down and a remit to hire more women, we met the challenge head on.

Solution

PeopleScout collaborated with Virgin Media to set up a “Women in Field” working group. We listened to existing female employees and involved them in the recruitment process, making sure they were present for female candidates attending assessments.

We wanted to be bold and disruptive in our approach, particularly around how the role was advertised and positioned. By exploring new avenues to tap into a demographic which previously wasn’t engaged with this opportunity including developing new channels. The PeopleScout social media team helped the client post across social channels such as Instagram, Facebook and Twitter. Our Field Sales recruiters were then able to engage those interested and convert them into applicants. We streamlined the application process and introduced the option to register interest.

To improve the vetting experience, we used our existing partnership with Security Watchdog to identify ways to dramatically reduce the three-week clearance period. With better signposting and a clearer process, we reduced the clearance period to just 11 days.

“We’ve made more than 30% more hires this year, with a 20% smaller attraction budget.”

Results

The “Women in Field” campaign was launched in four key locations. In just two months, we received triple the number of applications from women that we received in the previous year. The client is now using a similar approach in order to increase their gender diversity in more regions across the UK.

We made more than 30% more hires Field Sales Advisors with a 20% smaller attraction budget compared to the previous year. Plus, we more than doubled the number of female employees.

The new vetting process has helped to reduce early attrition by up to 20% across sales channels.

Overall, we’ve dramatically improved our application to hire ratios across all of the UK, saving 376 hours in interview time for hiring managers.

At a Glance

  • COMPANY: Virgin Media
  • INDUSTRY: Telecommunications
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing
  • ABOUT VIRGIN MEDIA: Virgin Media is a telecommunications, providing telephone, television and internet services in the United Kingdom. It is owned by Virgin Media O2.
Let’s Connect

PeopleScout Australia Jobs Report Analysis – April 2019

Posted on by nfuqua

The 28,400 jobs added in April beat some analyst expectations, but the loss of full-time jobs and rise in the unemployment rate made for a disappointing report.

April 2019 (May Report) Unemployment rate – Seasonally Adjusted: 5.2 percent (Up Arrow) Jobs Change: + 28,400 Labour Force Participation: 65.8 per cent (Up Arrow) Business Confidence Index: 0 (Down Arrow) Sources: http://www.abs.gov.au/ https://business.nab.com.au https://www.businessinsider.com.au/ https:/abc.net.au Summary: The 28,400 jobs added in April beat some analyst expectations, but the loss of full-time jobs and rise in the unemployment made for a disappointing report. In seasonally adjusted terms, 28,400 new jobs were created, with 34,700 new part-time roles balancing the loss of 6,300 full-time positions. The unemployment rate rose to 5.2%, the highest level in eight months.

The Numbers

28,400: The Australian economy added 28,400 jobs in April.

5.2%: The Australian unemployment rate rose to 5.2%.

65.8%: Labour force participation rose to 65.8%.

0: The Business Confident Index fell to 0 from our last update in the latest NAB release.

Upside

The Australian economy added 28,400 jobs in April, beating analyst expectations. The labour force participation rate rose to 65.8%, a record high showing broad confidence in the nation’s job market. Since April 2018, full-time employment increased by 248,100 and part-time employment increased by 74,800.

States with job growth include New South Wales (up 25,100), followed by Western Australia (up 6,400) and Queensland (up 5,400).

Downside

The job growth was entirely due to part-time positions. The 34,700 new part-time roles balanced the loss of 6,300 full-time jobs. The unemployment rate rose to 5.2%, the highest level in eight months.  Victoria had a net job loss of 7,600. The nation’s youth unemployment – people aged between 15 and 24, rose 0.1 points higher to 11.8%.

Another troubling indicator is the increase in the underutilisation rate which went from 13.3% to 13.7% in one month. Underutilisation includes unemployed Australians and those working who want to work more.

The data released in the report, coupled with the news that online job ads have fallen to six-year lows have led some analysts, including RBC’s Richard Thompson, to assert that the unemployment rate is not likely to fall any time soon:

“Given the suite of lead employment/vacancy indicators mostly suggesting further softening in labour market conditions ahead, it is difficult to imagine that unemployment will get back below the 5% mark.”

Fall in Online Job Ads – A Negative Indicator?

Business Insider Australia reports that job advertisements placed on employment platform SEEK fell 8.9% annually in April. Postings fell in all job categories and in all states except the Australian Capital Territory. Ads in media, trades, construction, real estate and architecture fell more than 20% over the year. Job ads in 15 categories fell more than 10%. The article notes, “if the data is reflective of a broader demand for workers, it isn’t looking good for anyone seeking employment in the second half of the year.”

A decrease in online job postings does not necessarily indicate a softening job market. In May 2018, online job ads decreased by 51,000 in the U.S. when the unemployment rate stood at 3.8%. Nearly one year later, in April 2019, it was 3.6%. A decrease in the number of online job postings may reflect, at least in part, that enterprises are successfully utilizing creative strategies to attract talent beyond traditional job boards.

Improving Retention and Diversity for Leading North American Tire Brand

Posted on by Kate
Improving Retention and Diversity for Leading North American Tire Brand

High-Volume RPO

Improving Retention and Diversity for Leading North American Tire Brand

A leading North American tire brand partnered with PeopleScout to facilitate more than 10,000 annual hires for automotive technician, management and sales positions and standardize its retail recruitment processes company-wide.

10,000 annual hires
40 percent improvement in hiring diverse employees
5 percent improvement in technician turnover

A leading North American tire brand was experiencing an alarming rate of attrition in key retail positions, making it difficult to provide the level of service excellence the brand’s customers have come to expect. To help solve its unsustainable employee attrition issue, the client partnered with PeopleScout to efficiently facilitate more than 10,000 annual hires of automotive technicians, management and sales positions and standardize its retail recruitment processes company-wide.

Scope and Scale

Full-life cycle recruiting services needed for 10,000 U.S. hires annually. Skills and positions included: technicians, customer service, sales and management.

Situation

The client was facing a 50% turnover rate at retail locations and lacked a uniform hiring procedure, resulting in a disjointed process and poor quality of hire. Without the appropriate staffing of technicians, customer care suffered, causing a reduction in the client’s revenue in their retail operations. 

Solution

SOLUTION HIGHLIGHTS

  • Screening & block interview scheduling efficiencies
  • 10,000 hires in the first year of the engagement
  • Reduced employee turnover
  • Hiring diversity
  • Transparent Reporting

A STANDARD HIRING MODEL

The partnership was designed to improve turnover rates for technician and retail positions, create a standardized retail recruitment model and provide consistent OFCCP compliance and standardization.

AN EFFICIENT PROCESS

PeopleScout deployed a time-efficient screening process focused on the quality of the candidate, with a guaranteed response from recruiting teams within 48 hours of application.

HIRING DIVERSITY

To help source and engage more diverse candidates for the client, PeopleScout developed a comprehensive network of community organizations for partnered recruitment. 

IN-REGION RECRUITERS

Collaborative relationships between our retail recruiters and the client’s area managers were fostered by in-region placement of PeopleScout recruiters.  

TRANSPARENT REPORTING

Continuous improvement was driven through transparent reporting and analysis for the client’s executive and field leadership.

Results

REDUCED EMPLOYEE TURNOVER

The client’s technician turnover rate has improved by 5% and retail turnover by 6%. 

10,000 HIRES IN FIRST YEAR

PeopleScout hired 10,000 employees in the first year of the engagement.

HIRING DIVERSITY

Hiring diversity improved by 40%, including an increase of 2% for veterans and 6% for female hires.

At a Glance

  • COMPANY: Leading North American tire brand
  • INDUSTRY: Consumer Goods
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing
Let’s Connect

A Higher Performing Recruiting Model

Posted on by Kate
A Higher Performing Recruiting Model

RPO for Telecommunications

A Higher Performing Recruiting Model

A major telecom provider faced multiple recruiting challenges as a result of its decentralized and fragmented recruitment processes. PeopleScout partnered with this provider to implement a first-generation RPO program to migrate to a higher-performing recruiting model.

13,000 annual hires in the first year
8 days average time-to-hire
1,400 Built a scalable, centralized process across 1,400 retail stores

Situation

The telecom provider wanted to reduce store-to-store inconsistencies and migrate from a highly decentralized recruitment into a high-performing recruitment model. The provider wanted to improve response times to seasonal demands and decrease poor candidate quality and below-average customer experiences.

PeopleScout established the foundation for an RPO program that today supports more than 1,400 stores and nearly 13,000 hires. 

Solution

SOLUTION HIGHLIGHTS

  • Centralization and standardization of the recruitment process
  • Scalable recruitment model to address changes in hiring needs
  • Targeted and innovative grassroots and digital sourcing strategy

At a Glance

  • COMPANY: Telecom provider
  • INDUSTRY: Telecommunications
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing
  • ANNUAL HIRES: 13,000
  • LOCATIONS: 1,400 stores
Let’s Connect

INNOVATIVE, TARGETED SOURCING

PeopleScout implemented a consistent workflow for the company’s businesses and initiated digital interviewing with additional screening. Adding additional screening reduced the hiring manager’s overall effort in the process and created efficiencies. PeopleScout also facilitated “same day interview, next day offer” practices to qualified candidates.

BRANDed PARTNERSHIP

The telecom provider provided a library of images for use in digital and advertising campaigns that greatly enhanced recruitment marketing. PeopleScout and the telecom talent acquisition team collaborated closely to make sure outbound marketing was targeted to their talent audiences.

Results

A targeted and innovative sourcing strategy and a solid branding partnership were influential in the program’s evolution. In the first year, PeopleScout hired nearly 13,000 employees for this telecom provider and improved average time-to-clear from 11 days to eight days. The scope of work also expanded into a strategic partnership with one of the world’s largest pharmacies where the telecom provider’s products could be sold at additional retail locations.

High-Speed Hiring for Key Professional Roles

Posted on by Kate
High-Speed Hiring for Key Professional Roles

Travel & Leisure Recruitment

High-Speed Hiring for Key Professional Roles

A major international airline faced time-to-fill challenges in key professional roles within the organization including finance, purchasing, legal, IT, technical operations and human resources. PeopleScout partnered with the client to implement a full-cycle, end-to-end RPO program focused on hiring speed and agility to improve time-to-fill metrics for professional hiring across multiple key positions.

44 % reduction in the time between offer acceptance and clear-for-hire
OFCCP compliance standards maintained in the heavily regulated airline industry
OFCCP compliance standards maintained in the heavily regulated airline industry
100 % class fill rates for customer service hires

Scope and Scale

A major international airline faced time-to-fill challenges in key professional roles within the organization including finance, purchasing, legal, IT, technical operations and human resources. PeopleScout partnered with the client to implement a full-cycle, end-to-end RPO program focused on hiring speed and agility to improve time-to-fill metrics for professional hiring across multiple key positions.

PeopleScout’s solution provides additional hiring support for union roles and manages airport frontline hiring at all airport stations, above and below the wing, including conducting in-person interview events, making hiring decisions, onboarding and campus hiring.

Situation

PeopleScout partners with a major international airline to manage the airline’s multifaceted and unique hiring needs. PeopleScout supports the hiring of all professional hires in the U.S. and conducts on-site hiring events that include interviewing, selection and onboarding to meet the client’s hiring requirements in short timeframes.

Solution

STREAMLINED RECRUITMENT PROCESS

PeopleScout’s full lifecycle RPO program streamlines the recruiting process to meet the client’s needs.

FULL-SERVICE EXECUTION

PeopleScout executes each phase of the recruitment process from screening candidates, candidate notification, scheduling and submitting written offers to onboarding new hires.

CAMPUS HIRING PROGRAM

PeopleScout manages the client’s campus hiring program. PeopleScout oversees event coordination, travel arrangements, relationship building and brand positioning to recruit undergraduate and MBA students.

OFCCP COMPLIANT

To help the client remain compliant in the heavily regulated airline industry, PeopleScout maintains OFCCP compliance standards.

PROGRAM DATA ANALYSIS

PeopleScout sends regularly updated status reports and analyses of program data to deliver insights into performance metrics and identify areas for improvement.

Results

Optimized Screening Process

PeopleScout optimized the initial candidate screening process, resulting in improvements in the interview-to-offer ratio, time-to-fill and overall quality of hire.

Reduced Acceptance Time

As a result of PeopleScout’s RPO program, there was a 44% reduction in the time between offer acceptance and clear-for-hire for union frontline positions.

Engaging Onboarding Experience

PeopleScout’s delivery team enhances the client’s candidate experience and provides the company’s new hires with an engaging and thoughtful onboarding experience. This resulted in the client’s Candidate Experience Awards wins from 2016 to 2018.

100% fill rates

PeopleScout delivers 100% class fill rates for customer service hires.

At a Glance

  • COMPANY: Major international airline
  • INDUSTRY: Travel & Tourism
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing
Let’s Connect

Total Workforce Solutions 101: An Introductory Guide

Posted on by edyson

Total Workforce Solution (TWS) noun

to·tal| /ˈtōdl/

work·force| /ˈwərkfôrs/

so·lu·tion| /səˈlo͞oSH(ə)n/

Total Workforce Solution(s) (TWS), also known as Total Talent Solutions, or Total Talent Acquisitions, are outsourced programs that blend the capabilities of Recruitment Process Outsourcing (RPO) and Managed Service Provider (MSP) programs, by integrating the talent acquisition function for permanent and contingent workforces under one delivery team

Total Workforce Solutions provide a centralized view and model for obtaining necessary talent across an organization – both full-time employees, as well as contingent workers (including temporary workers, independent contractors, freelancers and statement of work (SOW) providers). With a Total Workforce Solution, organizations can increase value, compliance, and reduce risk with full-cycle, scalable RPO and MSP programs or select specific services under each offering, to meet specific talent acquisition needs.

What’s more, having one, centralized solution for both permanent and contingent talent acquisition ensures a consistent experience throughout for hiring managers, HR teams, procurement functions, staffing suppliers and candidates alike.

What Can Total Workforce Solutions Do For Me?

Total workforce solutions

Total Workforce Solutions are a relatively new concept in the world of talent acquisition, with few organizations implementing a true Total Workforce Solutions model. The traditional approach to talent management remains highly siloed, with permanent hiring, contingent hiring, sourcing, employer branding and analytics often managed separately. Total Workforce Solutions take a holistic approach, where the need for contingent workers is considered in tandem with permanent workforce needs and hiring projections.

There are a number of compelling reasons why forward-thinking organizations are interested in Total Workforce Solutions. Talent management and recruiting challenges are becoming more complex, given a number of key drivers:

  • Economic uncertainty
  • Shortfalls in productivity levels
  • Skills shortages exacerbated by demographic forces
  • Increased globalization of the workforce
  • Technological innovation
  • Constantly changing employment and compliance legislation

For many organizations, having a broader, more holistic and proactive approach delivered through a Total Workforce Solution is the best way to meet these challenges and gain a competitive advantage.

A Total Workforce Solution can also help organizations improve the management of blended workforces by:

  • Lowering hiring and recruiting costs through centralized management of sourcing, interviewing, applicant tracking systems, candidate management, onboarding and employee engagement and retention.
  • Optimizing the balance between permanent and contingent hires in your workforce.
  • Increasing internal sourcing by hiring proven contingent workers for open permanent roles.
  • Consulting with organizations to improve outcomes for permanent and contingent hiring, recruiting technology, employer branding and regulatory compliance issues.
  • Providing flexibility for shifting forces within your industry and the broader economy.

Because Total Workforce Solutions consolidate permanent and contingent talent pools into one program, organizations are better able to source the right talent in any situation. For example, a manufacturing company may need data specialists to pinpoint emerging markets. A Total Workforce Solutions provider can find the necessary talent, as well as determine if the role is best suited for an FTE, temporary resource, or through a project-based independent contractor or SOW provider.

In addition to finding the right types of resources for open roles, Total Workforce Solutions providers design programs that engage all talent types, not just permanent employees. By consistently engaging all types of workers, contingent talent is effectively motivated to share the same commitment to your organization as your permanent workforce.

Total Workforce Solutions Provide Better Workforce Flexibility

workforce solutions

Employment expectations are drastically changing as the next generation of workers enter the labor market and baby boomers retire. The younger generation has a very different attitude toward the concept of “work” and “employment.” They place far greater emphasis on workplace flexibility and professional independence. As a result, many are choosing to work on a contingency basis rather than as an FTE.

Point in case: as the number of millennials in the workforce has grown, gig work has also grown in popularity. A Staffing Industry Analysts study estimates about 44 million Americans, or about 29% of the U.S. workforce, has now taken part in the gig economy.

To remain competitive as the workforce evolves, organizations need to take a broader view of talent acquisition strategies and rethink the silos that have separated management of contingent and permanent workforces.

A Total Workforce Solution provides organizations with the necessary agility and flexibility to adapt to economic and talent market fluctuations, by scaling to meet demand while providing the right mix of contingent and permanent hires. Acting as a single talent partner for both permanent and contract employee hiring, a Total Workforce Solutions provider can quickly and more efficiently recruit the right type and number of workers with the requisite skill sets needed.

Greater Visibility into and Total Workforce Optimization

When engaging a Total Workforce Solutions provider, enhanced visibility is gained into an organization’s entire workforce. This ranges from employee breakdown and associated costs to advanced outcome-based metrics that track the quality of hire, attrition, candidate satisfaction and time-to-fill across the workforce.

Gaining better talent visibility allows organizations to find the perfect match between requirements and talent while tracking quality, impact, and any potential legal and compliance risks. This kind of visibility can be achieved because Total Workforce Solutions providers help you break down silos, and maximize engagement, collaboration and productivity of talent as a whole.

What’s more, Total Workforce Solutions also provide the oversight needed to align talent resources with overall business strategies by providing a centralized view of talent. This means organizations are better able to support permanent and contingent resources by tracking their learning, training, skills and accomplishments. This not only helps individuals and improves employee experience, but also allows organizations to more easily inventory skill sets available.

Total Workforce Optimization of Overall Workforce Spend

Well-managed Total Workforce Solutions provide cost savings beyond separate, traditionally managed MSP and RPO programs. For example, consider the time and money lost by recruiting new permanent employees, when current contingent workers may be immediately available to fill those same roles.

Total Workforce Solutions can move organizations away from thinking of a role’s status as inflexible. Instead, it takes a strategic view of all options available to fill a vacant position, breaks down all barriers to define the work that needs to be done, and determines the best talent options to make it happen. This strategic, holistic view also opens opportunities to address hiring costs and other operational considerations.

Integrated talent acquisition programs also simplify management, reporting and recruiting resources – reducing costs and increasing effectiveness. This leads to process harmonization and cost savings through economies of scale, by having a common set of practices for all types of talent in terms of sourcing, interviewing, hiring, and compliance.

Conclusion:

Total Workforce Solutions represent the next wave of progression in the world of work, building on the paths tread by a rise in the contingent workforce and increasingly-blended makeup of worker skill sets.

In the new talent landscape, it isn’t just workers who must be agile and adaptive to stay competitive. Organizations must also become accustomed to the new and still evolving hiring environment so their workforce strategically composition drives business needs in peak times, and helps weather downturns.

From total talent visibility to the optimization of total labor spend, the multifaceted impact of total workforce solution programs is a powerful concept that represents the future of talent acquisition.

PeopleScout UK Jobs Report Analysis – May 2019

Posted on by nfuqua

The May 2019 Labour Market Report released by the Office for National Statistics which covers the first quarter of 2019. The unemployment rate dropped to 3.8%, its lowest level since 1974. In that period, 99,000 jobs were added to the UK economy, which was lower than some analysts had projected. Nominal wages rose by 3.3% over the year.

May 2019 UK Labour Market Reports are based on moving three-month (quarter) data for the period ending two months prior. The May Report includes the quarter spanning January 2019 - March 2019. This month’s report does not include updates on job changes by industry. Jobs Added – Chart 1 Unemployment – Chart 1 Wages – Chart 15 OVERALL Overall Jobs Added in Quarter: +99,000 Overall Unemployment Rate: 3.8 percent (Down arrow) Overall Wage Change: +3.3 per cent INDUSTRY BREAKDOWN (Job change not updated in this release) Manufacturing Jobs Change in Quarter: -11,000 Percent Change Over One Year: -1.0% Wholesale/Retail/Vehicle Repair Jobs Change in Quarter: +3,000 Percent Change Over One Year: -0.5% Transport and Storage Jobs Change in Quarter: +58,000 Percent Change Over One Year: +5.1% Accommodation and Food Service Jobs Change in Quarter: +35,000 Percent Change Over One Year: +3.7% Information and Communication Jobs Change in Quarter: +3,000 Percent Change Over One Year: +6.0% Financial and Insurance Jobs Change in Quarter: -6,000 Percent Change Over One Year: +0.4% Professional, Scientific and Technical Jobs Change in Quarter: +48,000 Percent Change Over One Year: +2.0% Administrative and Support Services Jobs Change in Quarter: -19,000 Percent Change Over One Year: -0.9% Education Jobs Change in Quarter: +15,000 Percent Change Over One Year: +1.9% Human Health and Social Work Jobs Change in Quarter: +0 Percent Change Over One Year: +1.1% Year over Year Wage Changes (Updated in this Release) Whole Economy: +3.3% Private Sector: +3.5% Public Sector: +2.3% Services: +3.4% Finance and Business Services: +3.9% Public Sector excluding Financial Services: +2.4% Manufacturing: +2.2% Construction: +3.9% Wholesaling, Retailing, Hotels & Restaurants: +2.6% Overview The Office for National Statistics released its May Labour Market Report which reports on the first quarter of 2019. Compared with a year earlier, regular wages excluding bonuses were up by 3.3%, lower than last month’s report. The employment rate rose to 76.1%, the highest level since comparable records have been tracked in 1971. Unemployment dropped to 3.8% and has not been lower since 1974.

The Numbers

The UK employment rate was estimated at 76.1%, which is higher than the previous year (75.6%) and tied for the highest figure on record.

Estimates for the first quarter of 2019 show 32.70 million employed people who are 16-years-old and over, which is 354,000 more than for a year earlier. This increase is due entirely to an increase in full-time workers. Part-time workers decreased by 18,000 on the year to reach 8.59 million.

The UK unemployment rate was estimated at 3.8%; it has not been lower since October to December 1974.

The UK economic inactivity rate was estimated at 20.8%, lower than a year earlier (21.1%) and close to a record low. Economic inactivity measures people without a job but who are not classed as unemployed because they have not been actively seeking work within the last four weeks and/or they are unable to start work within the next two weeks.

For February to April 2019, there were an estimated 846,000 vacancies in the UK, 28,000 more than a year earlier. Job vacancies are reported on a different schedule than most of the other labour market figures.

Solid Job Numbers, but Lower Than Expected

The addition of nearly 100,000 jobs to the economy is good news by any standard. Yet many economists were expecting even greater increases, and there was speculation about the slowing rate of growth for both jobs and wages. Uncertainty over Brexit is still lurking in the background, as Reuters reports:

“The jobs boom may well reflect how employers have opted to take on workers – who can be laid off quickly during a downturn – rather than commit to longer-term investments while they wait for uncertainty over the conditions of Britain’s departure from the European Union to lift.”

Trouble Ahead?

The idea that employers are choosing to hire expendable workers rather than make long-term capital investments does not suggest confidence in the nation’s economic outlook. Some economists quoted in the Financial Times found some of the data from the May report to be a cause for concern:

“’Britain’s job market continues to defy wider economic uncertainty,’ said Stephen Clarke, senior economic analyst at the Resolution Foundation…

The number of jobs added in the first three months to March was below expectations and lower than the number added in the three months to February. While the number of self-employed increased, the number of full-time employees dropped by 55,000 compared with the previous quarter.

‘Some tentative early warning signs suggest that the jobs market is entering a turbulent period,’ warned James Smith, an economist at ING.

Surprising Growth in the Number of EU Workers

The first quarter of 2019 may well be remembered as a time when Brexit was the dominant topic in every part of the country. Workers for EU countries residing in the UK faced an uncertain future as the original Brexit date loomed. Last year, the ONS reported significant numbers of EU workers leaving the UK in a trend that was nicknamed “Brexodus.”

Yet during this same time, the number of EU nationals working in the UK reached a record high. Nearly 2.4 million citizens of other EU countries now work in the UK, an increase of more than 100,000 compared to the final three months of 2018.

For employers, unexpected shifts such as the reversal of Brexodus underscore the need for expertise in attracting and retaining talent in the uncertain months ahead.


Virgin Money: An Executive Search Experience Like No Other

Posted on by akessler
Virgin Money: An Executive Search Experience Like No Other

Executive Search

Virgin Money: An Executive Search Experience Like No Other

Finding a Head of Innovation through “the world’s most creative job interview,” an immersive executive assessment experience.

Situation

Virgin Money turned to PEopleScout and our industry-leading creative team to find them a new Head of Innovation.

Their brief to us:

Find us Harry Potter, a creative genius who can come along and change banking. Someone from outside the financial services sector that we wouldn’t attract through the normal processes.

Solution

How do you recruit an executive from a completely different sector? And how do you reach them in the first place?

Above all, by making the front pages, just not in the finance section.

So we set out to create a headline-grabbing experience that would generate publicity and noise in the right places.

And that experience was, “The world’s most creative job interview,” a hybrid of immersive theater and robust job assessment. Building on psychological principles, it set candidates tasks that engaged as thoroughly as they tested.

Results

Alongside coverage in the usual HR publications, we earned high-profile media coverage in The Evening Standard, City A.M., Campaign, Marketing Magazine, Brand Republic and more, reaching a combined circulation of around 30 million people.

Ten outstanding candidates were chosen for the “interview,” which led to the discovery of the successful applicant, Dhiraj Mukherjee, a founder of the music application Shazam, and a truly creative entrepreneur.

The new assessment approach has ushered in a legacy beyond a new Head of Innovation. From one niche role, we’ve now scaled up the approach to be used nationally across all volume hiring.

“The thing I love about PeopleScout is they have that really interesting blend of a robust approach to assessment and the creative ability to think differently.”

Head of Resourcing, Virgin Money

At a Glance

  • COMPANY: Virgin Money
  • INDUSTRY: Telecommunications
  • PEOPLESCOUT SOLUTIONS: Talent Advisory
  • ABOUT VIRGIN MONEY: Virgin Money is a financial service company disrupting retail and business banking with a digital-first model.
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