job seeker pulse Q United States

Transcription

1 job seeker pulse Q United States 1

2 WELCOME TO HUDSON S JOB SEEKER PULSE Fourth Edition CONTENTS: Forward p. 02 Snapshot p. 03 Overall Observation p. 04 Results by Generation p. 06 Results by Seniority p. 07 About the Study p. 11 About Hudson p. 13 FORWARD Welcome to the Q edition of Hudson s Job Seeker Pulse, which analyzes the actual online job search activity of Fortune 100 and company employees. In Q3, job search behaviors expanded in aggregate for both the and Middle Market worker groups. The mean J-Index increased by 15.8 percent over Q2 s average. The J-Index score leapt by 49 percent over last quarter s mean score. Interestingly, Q3 marks the first time in 2015 that the Fortune 100 and average daily J-Indices were nearly the same score. Both groups spent the last three days of the quarter (Sept 28-30) with scores between After our third quarter of and comparisons, one notable difference is that the Fortune 100 has displayed much flatter job search behavior activity shifts than their counterparts. So far this year, the s widest daily mean J-Index score stayed within four points during Q3. In comparison, a five-point difference in mean daily J-Index scores for the represented their flattest quarter, Q1. Meanwhile in Q2 the average daily J-Index scores fluctuated within a 14-point range, and in Q3 the group fluctuated within an 8-point range. Just as companies are known to be more dynamic in many ways than larger, steadier Fortune 100 firms, employees search behaviors shift considerably more than their counterparts. We re hopeful that the Job Seeker Pulse findings will help Talent Acquisition executives make more informed decisions on timing for key recruitment programs and also for the launch of significant retention and employer brand initiatives. As always, we welcome any feedback. Best regards, Lori Hock, CEO Americas, Hudson Global Inc. 2

3 SNAPSHOT - Q According to the National Center for the Middle Market, employment growth from Q to Q for the was 4.1 percent, while large company growth was 1.7 percent for the same period. More growth and more opportunity could explain employees higher levels of job search activity. 1 Monthly Average JULY AUG. GREATEST Q2 to Q3 INCREASE OF ACTIVITY 22.7% Gen Y Upper MGT. 71.5% X Gen X Entry Level AVERAGE OVERALL MEAN Q3 J-INDEX SEPT. GREATEST Q2 to Q3 DECREASE OF ACTIVITY % 147% J-Index Rise Since Q1 BB Entry Level SEPT. BIGGEST YEAR-TO-DATE ACTIVITY CHANGES MOST JOB SEARCH ACTIVITY JULY BB 72% J-Index Rise Since Q1 Gen Y Entry Level AUG JULY 1 4 SUB GROUP WITH HIGHEST MEAN J-INDEX Gen Y Associate Level Gen Y Mid-MGT. No Decrease BB Entry Level BB JULY SEPT. LEAST JOB SEARCH ACTIVITY JULY 26 AUG. 1 by week SEPT SUB GROUP WITH LOWEST MEAN J-INDEX 5.48 BB Entry Level BB Gen Y Upper MGT. 3

4 OVERALL OBSERVATION Q J-SCORE RANGES Table 1: Mean J-Indices MIGRANT TOURIST Q Q Q Overall Mean Mean Mid-Market Mean CITIZEN 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 mean score reported in Table 1 is the average of all daily individual J-Scores for the study participants during the designated quarter. The overall and mean scores represent the average daily individual J-Scores within the respective groups. Job search behavior activity among the and Middle Market groups rose during Q but remained within the Citizen range. As compared to Q2, the s Q3 mean J-Index climbed by nearly 16 percent and the worker group s Q3 mean J-Index spiked overall by 49 percent. This third quarter analysis unveiled a Job Seeker Pulse first. This quarter marks the first time in 2015 that the and average daily J-Indices were nearly the same score. Both groups spent the last three days of the quarter with scores in the narrow point range, meaning they displayed similar levels of job search activity. The average daily J-Indices were 15.46, and from September 28 to 30, while the Middle Market average daily J-Indices were 15.91, and for the same period. In Q2 2015, arguably our most interesting observation was the late- June surge in job seeking behaviors among nearly all groups. Did this surge continue? While the aggregate J-Index jumped by 49 percent (19.36), the dramatic spike did not continue. 4

5 OVERALL OBSERVATION Q cont d At Q2 s end, the s June 30 mean daily J-Index was The daily J-Index score of the first day of the new quarter remained high (23.99 J-Index on July 1) but then steadily decreased to on July 29. The daily J-Indices then rebounded up to by August 7 and fluctuated between and until August 24. The mean daily J-Index then dropped under 20 and declined through to quarter s end, where it remained close to 15 for the last three days of the quarter. Perhaps by quarter s end busy parents were more focused on a new school year rather than a new job? The job search activity pattern was marked by small fluctuations with slight increases. The group s July 1 average daily J-Index score was The mean daily score then fluctuated between and until August 7. By August 8, the average daily J-Index rose above 15 where it hovered between and through to quarter s end. Interestingly both groups registered an uptick in job seeking activity on Friday, August 7, the day after the first major Republican debate hosted by Fox News, which according to Nielsen Media Research drew a non-sporting event record of 24 million viewers. What will Q4 bring? In our first-ever Job Seeker Pulse, the Q J-Index mean was Will the group repeat a similar, higher level of activity in the last quarter of this year? As far as the is concerned, will Q mark the fourth consecutive quarter of J-Index rises for the group? How much higher can their mean J-Index climb? Mean J-Index percent change from Q2 to Q3 Overall 35.5% 15.8% Mid-Market 49.0% Weekly Q3 Average J-Indices Weekly Ave. Fortune 100 Middle Market July July July July July 26 to August August August August August Aug. 30 to Sept Sept Sept Sept Sept

6 RESULTS BY GENERATION Table 2: Job Seeking Behavior Activity Time Spent Above Quarterly Mean J-Index Gen Y 38% 3% 0% 93% 100% 100% Gen X 0% 0% 0% 84% 44% 100% Boomer 0% 0% 0% 72% 23% 93% Table 2a: Overall Quarterly Mean J-Indices Gen Y Gen X Boomer Mean J-Index percent change from Q2 to Q3 Gen Y +15.7% Gen X +16.4% Boomer -7.2% Gen Y +42.3% Gen X +56.5% Boomer +56.3% The overall J-Index is the average of all individual participants daily J-Scores during the quarter. Given that we have data for each individual on a daily basis, we can determine the percentage of time each is engaged in job seeking behavior above the overall mean activity level for each group. 6

7 RESULTS BY SENIORITY LEVEL Table 3: Job Seeking Behavior Activity Time Spent Above Quarterly Mean J-Index Entry Level 71% 25% 0% 91% 100% 100% Associate Level 8% 0% 0% 84% 96% 100% Middle Management 0% 0% 0% 92% 100% 100% Upper Management 0% 0% 0% 98% 99% 93% Table 3a: Overall Quarterly Mean J-Indices Entry Level Associate Level Middle Management Upper Management Mean J-Index percent change from Q2 to Q3 Entry Level -23.7% Associate Level +17.3% Middle Management -9.6% Upper Management +11.7% Entry Level +49.6% Associate Level +3.9% Middle Management +43.1% Upper Management +27.6% Since early 2015, the Boomer Entry Level group has registered the greatest escalation in job search behavior (mean J-Index up percent). That s 53 percentage points higher than the second most active group. Why would this group be so active? Entry level groups typically consist of those who have attained lower education levels. The U.S. Bureau of Labor Statistics reported that following the 2008 recession, those with some college experienced significantly higher levels of unemployment than their more educated counterparts. However, by 2014, the some college unemployment rates were the lowest in five years. 2 Simply put, for some the window of opportunity is more open now than in recent years. Also, the reticence to hire older workers is fading. Ageism bias has been discredited by research 3 showing older workers perform better on every dimension of job performance. We are in an age of second careers for mature workers, and this group may be seeking their encore careers. 7

8 FORTUNE 100 VS MIDDLE MARKET GENERATION Y Y Gen Y s Upper Management group recorded the largest Q2 to Q3 percentage jump in average J-Index score (22.7 percent). The Generation Y Middle Management group represents the most significant percentage decline in J-Index average, down 29.8 percent. Within the segment, the Gen Y Entry Level, Associates and Middle Market groups average job search behaviors increased by more than 40 percent compared to Q2. The Gen Y Upper Management group saw an uptick but with less vigor (23.8 percent) still more than the s most active Gen Y Upper Management group. Mean J-Index percent change from Q2 to Q3 Millennials Entry Level -24.5% Associate Level +16.6% Middle Management -29.8% Upper Management +22.7% Millennials Entry Level +44.9% Associate Level +43.7% Middle Management +40.6% Upper Management +23.8% Table 4: Gen Y Percent of Time Spent Above Quarterly Mean J-Index Gen Y Entry Level 100% 59% 0% 96% 100% 100% Associate Level 34% 6% 0% 92% 100% 100% Middle Management 50% 18% 0% 100% 100% 100% Upper Management 19% 0% 0% 100% 43% 37% Table 4a: Gen Y Overall Quarterly Mean J-Indices Gen Y Entry Level Associate Level Middle Management Upper Management

9 GENERATION X X FORTUNE 100 VS MIDDLE MARKET The Generation X s Entry Level and Associate groups had the largest percentage rises of J-Index averages from Q2 to Q3 of any other subgroup, registering 71.5 and 68.5 percent gains respectively. The Gen X Entry Level displayed quite the opposite behavior with their job search activity contracting by nearly 20 percent from Q2. Mean J-Index percent change from Q2 to Q3 Gen X Entry Level -19.7% Associate Level +18.4% Middle Management -9.0% Upper Management +8.5% Gen X Entry Level +71.5% Associate Level +68.5% Middle Management +41.6% Upper Management +26.0% Table 5: Gen X Percent of Time Spent Above Quarterly Mean J-Index Gen X Entry Level 0% 7.7% 0% 44% 15% 83% Associate Level 0% 0% 0% 77% 30% 100% Middle Management 0% 0% 0% 91% 100% 100% Upper Management 0% 0% 0% 94% 99% 84% Table 5a: Gen X Overall Quarterly Mean J-Indices Gen X Entry Level Associate Level Middle Management Upper Management

10 FORTUNE 100 VS MIDDLE MARKET BABY BOOMERS BB During Q2, the Boomers Entry Level group marked the most dramatic upswing in job search activity late in the quarter moving from Citizen to Tourist on the J-Score scale, ultimately registering an all-time Job Seeker Pulse daily J-Index high of In Q3, the group s activity never spiked above the Citizen range; however, overall its mean J-Index grew by 60.4 percent over the Q2 mean. Mean J-Index percent change from Q2 to Q3 Baby Boomers Entry Level -24.4% Associate Level +16.3% Middle Management +0.4% Upper Management +11.2% Baby Boomers Entry Level +60.4% Associate Level +66.8% Middle Management +53.2% Upper Management +35.9% Table 6: Baby Boomer Percent of Time Spent Above Quarterly Mean J-Index Baby Boomer Entry Level 13% 0% 0% 61% 99% 100% Associate Level 0% 0% 0% 40% 21% 89% Middle Management 0% 0% 0% 30% 29% 96% Upper Management 0% 0% 0% 92% 100% 100% Table 6a: Baby Boomer Overall Quarterly Mean J-Indices Baby Boomer Entry Level Associate Level Middle Management Upper Management

11 ABOUT THE STUDY JOBERATE TECHNOLOGY J-Score = Individual Score J-Index = Aggregate Score GENERATIONAL BREAKDOWNS Baby Boomers: Generation X: Generation Y: FORTUNE 100 As published annually by Fortune magazine, the 100 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 10,000 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 increases 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 13,900 study participants determining the aggregate mean. Based on that, we determine the percentage of time spent above the average mean J-Index for the different groups to in turn determine job search activity levels. 11

12 ABOUT THE STUDY cont d DATA ACCURACY The Hudson Job Seeker Pulse study tracks Q J-Scores for 13,900 people who were employed by Fortune 100 (7,222 employees) or companies (6,678 employees). 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. WORKS CITED 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 1 3Q 2015, Indicator: Steady Growth, Cautious Outlook. National Center for the. 3rd quarter Web. 27 October Unemployment rates by educational attainment, October TED: The Economics Daily. 12 November Web. 25 October Reade, Nathaniel. The Surprising Truth About Older Workers. AARP The Magazine. August/September Web. 9 November

13 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 t: (212)