job seeker pulse Q United States
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1 job seeker pulse Q United States 1
2 WELCOME TO HUDSON S JOB SEEKER PULSE Sixth Edition CONTENTS: Introduction p. 02 Job Search Activity Trends p. 03 Overall Observations p. 05 Generation Y p. 07 Generation X p. 08 Baby Boomers p. 09 About the Study p. About Hudson p. 12 INTRODUCTION Welcome to Hudson s Q Job Seeker Pulse, which provides findings from our ongoing longitudinal study of actual job seeking behavior among Fortune 0 and Middle Market U.S. employees. This is our sixth quarterly edition. After more than a full year of observing job search activity trends among different worker groups within Fortune 0 and Middle Market companies, we re able to share year-over-year data and quarterto-quarter activity in order to identify trends, isolate patterns and trigger inquiry that may help employers better understand their workforce. In Q1 2016, the overall J-Indices for both the Fortune 0 and Middle Market groups are higher than in Q1 2015, which indicates a greater level of job seeking behaviors at the outset of this year over last. This heightened activity pattern may indicate surging confidence in the economy and, thus, more willingness to take on the inherent risks associated with starting a new job. (According to a White House blog post, the end of March 2016 marked 73 straight months of job growth). When comparing both market segments in aggregate, the Middle Market was much more active. This group scored an average J-Index of nearly one point higher over last year, which is attributed to eight of their 12 worker subgroups having higher J-Indices in Q The Fortune 0 average J-Index increased slightly as only four of their 12 worker subgroups had higher J-Indices. When reviewing the data by generation, the Generation X and Baby Boomer groups registered notable activity rises compared to Q1 last year, particularly among Entry Level employees. Throughout 2015, on average these generational groups exercised more jobswitching caution than their younger Gen Y counterparts. It will be interesting to see if this activity boost continues in I invite you to read our entire study to see all of the findings. As always we appreciate your support and welcome your feedback. Best, Lori Hock CEO, Americas Hudson Global Inc. 2
3 Q JOB SEARCH ACTIVITY TRENDS BASED ON FORTUNE 0 AND MIDDLE MARKET U.S. EMPLOYEE JOB SEARCH BEHAVIOR BUSIEST & SLOWEST JOB SEARCH DAYS IN Q Saturday, January 30 th BUSIEST Q1 JOB SEARCH ACTIVITY DAY FOR FORTUNE 0 Sunday, March 13th BUSIEST Q1 JOB SEARCH ACTIVITY DAY FOR MIDDLE MARKET Tuesday, January 5 th SLOWEST Q1 JOB SEARCH ACTIVITY DAY FOR BOTH GROUPS 8.99 on 1/30/16 compared to.2 on 1/25/15 Fortune 0: 6.24 on 1/5/16 compared to on 3/13/16 compared to on 1/25/ on 1/1/ Middle Market: 8.02 on 1/5/16 compared to 8.66 on 1/2/15 AVERAGE OVERALL J-INDEX FOR Q WHAT DROVE THE YEAR-OVER-YEAR AVERAGE J-INDEX INCREASES?.68 OVERALL F0 AVERAGE 8.93 M M In the Middle Market segment, 8 of the 12 worker groups studied registered higher J-Indices in Q than Q By YoY J-Index percentage increase they are: F 0 In the Fortune 0 segment, only 4 of the 12 worker groups studied registered higher J-Indices in Q than Q By YoY J-Index percentage increase they are: OVERALL MM AVERAGE Compared to Q J-Indices: GENERATION Y ASSOCIATE LEVEL: 11.5% UPPER MANAGEMENT: 15.0% GENERATION X ENTRY LEVEL: 28.0% ASSOCIATE LEVEL: 11.5% MIDDLE MANAGEMENT: 3.0% GENERATION Y NONE GENERATION X ENTRY LEVEL: 50.5% ASSOCIATE LEVEL: 1.5%.14 Average Overall 8.7 for the Fortune for the Middle Market BABY BOOMER ENTRY LEVEL: 16.7% ASSOCIATE LEVEL: 4.0% MIDDLE MANAGEMENT: 0.8% BABY BOOMER ENTRY LEVEL: 9.4% MIDDLE MANAGEMENT: 3.7% 3
4 Q JOB SEARCH ACTIVITY TRENDS CONT D F 0 F GENERATION Y ENTRY-LEVEL EMPLOYEES Compared to for Gen Y Entry Level in Q GENERATION X UPPER MANAGEMENT Compared to 7.09 for Gen X Entry Level in Q Q HIGHEST J-INDICES M M Q LOWEST J-INDICES M M BIGGEST YEAR-OVER-YEAR ACTIVITY INCREASES GENERATION Y UPPER MANAGEMENT Compared to for Gen Y Middle Managers in Q BABY BOOMER MIDDLE MANAGEMENT Compared to 9.67 for Baby Boomer Middle Managers in Q % 28% Registered in Q vs in Q GENERATION X F 0 ENTRY-LEVEL EMPLOYEES Registered.67 in Q vs in Q M M GENERATION X ENTRY-LEVEL EMPLOYEES BIGGEST YEAR-OVER-YEAR ACTIVITY DECREASES -6.9% -6.5% Registered in Q vs in Q GENERATION X F 0 MIDDLE MANAGEMENT Registered 7.72 in Q vs in Q M M GENERATION Y MIDDLE MANAGEMENT
5 OVERALL OBSERVATIONS Q J-SCORE RANGES Table 1: Average J-Indices MIGRANT TOURIST Q Q % Change Overall % Fortune % Mid-Market % 4-36 CITIZEN Key Observations MIGRANT High Levels of Online Job-Seeking Activity TOURIST Moderate Levels of Online Job-Seeking Activity CITIZEN Low Levels of Online Job-Seeking Activity The overall average score reported in Table 1 is the average of all daily individual J-Scores for the study participants during the designated quarter. The overall Fortune 0 and Middle Market average scores represent the average daily individual J-Scores within the respective groups. In 2016, an early Easter fell within the first quarter (March 27) compared to Easter 2015, which took place in Q2 (April 5). Presumably this translates into more Spring Break vacation periods landing within the first quarter of the year for 2016 than Despite that more people may have been taking Spring Break vacation, the average J-Index was up in 2016 compared to 2015 for each of the respective Fortune 0 and Middle Market overall worker groups. The busiest Q1 job search day for the Fortune 0 was January 30, 2016 (J-Index = 8.99). This compares to January 25, 2015 being the busiest day the year prior (J-Index =.2). The most active Q1 job search activity day for the Middle Market occurred later in the quarter: March 13, 2016 (J-Index = 15.19). In 2015, this group s biggest search day came earlier on January 25, 2015 (J-Index = 13.28). It should be noted that the busiest search days for all groups in both years fell on weekend days. Companies may wish to consider this timing when publishing their new job listings. As expected, the slowest job search behavior pattern days of Q1 fell near the New Year holiday. For both groups, the slowest day of Q was Tuesday, Jan. 5 following a New Year s long weekend. In 2015, the slowest days were Jan. 1 and Jan. 2 for the Middle Market and F0 respectively. Another significant observation is that Gen X Entry Level employees registered dramatic average J-Index spikes in Q when compared to Q average J-Indices. The Fortune 0 Entry Level Gen Xers showed the most dramatic rise, a full 50.5 percent. This group is followed by the Middle Market Entry Level Gen Xers, who were the least active Middle Market group in all of 2015, registering an impressive 28 percent rise. 5
6 OVERALL OBSERVATIONS Q cont d Both Generation X and Baby Boomer groups registered notable activity rises compared to Q1 last year. Throughout 2015, on average these generational groups exercised more job-switching caution than their younger Gen Y counterparts. However, in Q1 2016, five of the possible eight worker groups within both the Gen X and Boomer worker groups logged higher year-overyear activity, while just two of the Gen Y worker groups showed increases. For Gen Xers, presumably this is attributed to the fact that they are in the life stage that may include raising children, paying off loans and mortgages, and saving for college and retirement, which can, understandably, lead to risk aversion. Record-breaking months of job growth may finally have given this generation the confidence to make a career move. Boomers are also more likely to have financial obligations and may feel less risk-averse in today s market. Entry Level employees for both the Fortune 0 and Middle Market registered the most significant rises in job search activity for this generation when compared to last year. This may be due to more economic confidence, but it may also be attributed to access to affordable healthcare under the Affordable Care Act, which makes these Boomers less likely to hold onto one job simply for the health care coverage. Lastly, some of the Boomer activity may be attributed to people seeking encore careers, or roles that are less about financial gain and more about greater personal meaning and social impact in the later years of life. What will the remainder of 2016 bring? Will job growth continue causing Boomers and Gen Xers to maintain higher levels of job search activity? What effect, if any, will the November presidential election have on future job search behavior? We look forward to reporting on the results. Weekly Weekly Q Average J-Indices Fortune 0 Middle Market Jan Jan Jan Jan Jan Jan 31-Feb Feb Feb Feb Feb 28-Mar Mar Mar Mar Mar The busiest Q1 job search activity days for all groups in both 2015 and 2016 fell on weekend days. Companies may wish to take note of this timing when publishing their new job listings. 6
7 FORTUNE 0 VS MIDDLE MARKET GENERATION Y Y Table 4: Gen Y Average J-Indices Worker Group F0 Mid. Mkt F0 Mid. Mkt Q Q Q Q Entry Level Associate Level Middle Mgmt Upper Mgmt YoY Average J-Index Percent Change from Q vs. Q F0 Mid. Mkt Entry Level -5.5% Entry Level -0.1% Associate Level -1.6% Associate Level 11.5% Middle Mgmt. -5.6% Middle Mgmt -6.5% Upper Mgmt. -1.6% Upper Mgmt 15.0% Year-over-year, the Associate and Upper Management levels for the Middle Market registered double-digit percentage increases in average J-Index compared to Q All other worker groups registered a decrease. Quarter-over-Quarter Average J-Index Fluctuations 16 Fortune 0 30 Middle Market Average J-Index Q Q Q Q Q Q Q Q Q Q Entry Level Associate Level Middle Management Upper Management Quarter-over-quarter, only the Fortune 0 entry level group increased job search activity levels. 7
8 GENERATION X X FORTUNE 0 VS MIDDLE MARKET Table 5: Gen X Average J-Indices Worker Group F0 Mid. Mkt F0 Mid. Mkt Q Q Q Q Entry Level Associate Level Middle Mgmt Upper Mgmt YoY Average J-Index Percent Change from Q vs. Q F0 Mid. Mkt Entry Level 50.5% Entry Level 28.0% Associate Level 1.5% Associate Level 11.5% Middle Mgmt. -6.9% Middle Mgmt. 3.0% Upper Mgmt. -3.9% Upper Mgmt. -6.4% For the most part, Q marked the activation of the Gen X entry level employees. The Fortune 0 entry level workers among this generation showed the most dramatic job rise in search activity in this study period when compared to 2015: 50.5 percent. This is followed by the Middle Market entry levels, who also registered a significant spike: up by 28 percent. Quarter-over-Quarter Average J-Index Fluctuations 14 Fortune 0 25 Middle Market Average J-Index Q Q Q Q Q Q Q Q Q Q Entry Level Associate Level Middle Management Upper Management However, quarter-over-quarter, all worker groups combined registered fewer job search actions during Q than Q
9 FORTUNE 0 VS MIDDLE MARKET BABY BOOMERS BB Table 6: Baby Boomer Average J-Indices Worker Group F0 Mid. Mkt F0 Mid. Mkt Q Q Q Q Entry Level Associate Level Middle Mgmt Upper Mgmt YoY Average J-Index Percent Change from Q vs. Q F0 Mid. Mkt Entry Level 9.4% Entry Level 16.7% Associate Level -4.8% Associate Level 4.0% Middle Mgmt. 3.7% Middle Mgmt 0.8% Upper Mgmt. -1.8% Upper Mgmt -5.9% The Boomers overall were more active in Q than Q1 2015, with five of the eight worker segments registering higher average J-Indices. Quarter-over-Quarter Average J-Index Fluctuations 14 Fortune 0 30 Middle Market Average J-Index Q Q Q Q Q Q Q Q Q Q Entry Level Associate Level Middle Management Upper Management The Middle Market Entry Level Boomers were the only worker group within the generation to register higher levels of job search activity in Q compared to Q (12.55 average in Q compared to average in Q1 2016). 9
10 ABOUT THE STUDY JOBERATE TECHNOLOGY J-Score = Individual Score J-Index = Aggregate Score GENERATIONAL BREAKDOWNS Baby Boomers: Generation X: Generation Y: FORTUNE 0 As published annually by Fortune magazine, the 0 largest public and private U.S. companies according to gross revenue figures. For a current list, visit: MIDDLE MARKET Those companies with between 1,000,000 employees as stated in their LinkedIn company profiles. STUDY TECHNOLOGY Job Seeker Pulse is the only job seeker activity report of its kind based on actual online job search behavior as opposed to sentiment survey input. The study is based on data gleaned from the Joberate platform. Joberate monitors an individual s digital footprint to establish job seeking behavior activity, and tracks as many as 6,000 different data points from publicly available data sources including social media, public job boards and sources licensed by authorized data service providers like Twitter s GNIP. The Joberate platform observes changes in activities and behavior patterns, which in the aggregate and over time are quantified by Joberate s machine learning predictive analytics engine. This is then translated into a single metric called J-Score. J-Scores range from 4-70, with a score of 4 indicating the lowest level of job seeking behavior and a score of 70 indicating the highest. Each person s J-Score attributes are unique; however, examples of some online actions that form J-Score are: following recruiters social accounts, subscribing to career-related content, creating job-focused online profiles, frequent visits to employment-themed pages, sudden surges in job-related endorsements or recommendations, and countless others. J-Index represents the average J-Score of a company s employees. The overall Q J-Index is calculated by taking the daily individual J-Score of all 15,692 study participants determining the aggregate average. Based on that, we calculate the percentage of time spent above the average J-Index for the different groups to in turn determine job search activity levels.
11 ABOUT THE STUDY cont d DATA ACCURACY The Hudson Job Seeker Pulse study tracks ongoing J-Scores for 15,692 people (as of Q1 2016) who were employed by Fortune 0 or Middle Market companies. Any discrepancies between yearly J-Index averages and quarterly J-Index averages are attributed to employees movements from one reporting group to another based on job/company changes. Thus, the annual average scores will differ slightly from the mathematical averaging of the four quarterly J-Indices. Social data sources accessed or licensed by Joberate are at least 70 percent accurate while some are more than 95 percent accurate. All Joberate talent pools have a 95 percent confidence level, with an interval of 7.3 or less, making J-Score a highly relevant predictive analytic. SENIORITY LEVEL BREAKDOWN Entry: Internship Junior Graduate Trainee Assistant Retail Sales Clerk Sales & Customer Service Representative Associate: Specialist Analyst Team Manager Middle Management: Business Unit Manager Director Vice President General Manager Upper Management: Owner C-Suite Level Senior Vice President Executive Vice President Managing Director 11
12 ABOUT HUDSON Hudson is a global talent solutions company with expertise in recruitment process outsourcing, retained search, recruitment consulting and talent management. We help our clients transform their organizations by leveraging our expertise, deep industry and market knowledge, and assessment tools and techniques. Operating in 20 countries through relationships with millions of specialized professionals, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at Hudson Global Inc Avenue of the Americas, 12th Floor New York, NY 019 t: (212)
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