Attention HR department – LinkedIn just released its comprehensive global recruiting report, giving you an inside look at how employers might enhance their strategies heading into 2016.
The main theme to 2016 HR strategies are relationships. It’s no surprise – relationships are key to successful recruiting, staffing and retaining talent. But one of the biggest obstacles most companies will face in 2016 is hiring the best candidates in a high-demand pools and meeting compensation expectations.
Check out these other key takeaways from the report…
- With over 51% US average, referral programs are on the rise and expected to become one of the most valuable assets in hiring the right talent.
- Employer brand is another huge element that is expected to increase in importance in 2016. People want to work for a company who has a well-established brand and has an innovative company culture full of benefits and perks.
What are your HR priorities for 2016? Complete our survey and let us know – you’ll get a free copy of the exclusive results to see how you stack up with the rest of the industry!
Job seekers in their 50s are unemployed nearly a month longer than those in their 30s and 40s, according to a recent Carlson School of Management study. The reason? It certainly isn’t a lack of experience, wisdom or talent. It’s the size of their circle of friends. Professionals in their 50s are typically found to have smaller social networks, which could have an adverse effect during the job search process.
The study found that as professionals age they tend to value quality of relationships rather than quantity. Seasoned workers also tend to stay in the same job for a longer period of time and often don’t need to reenter the job market. But like any other candidate out there, those that do can benefit from larger professional networks.
Now this doesn’t mean it’s time for Baby Boomers to get lost in the wonders of Facebook, Twitter and Instagram. It just means acquiring new skills and maintaining relationships could increase chances of getting hired quicker.
Read more about the ways professionals can enhance the job search process in this exclusive New York Times summary.
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Salary transparency – making total compensation and pay packages public – has increasingly gained momentum. While most businesses might not even consider implementing such a policy, certain events have pushed the idea forward.
At the federal level, the stigma of total compensation transparency has received an overhaul. Due to the recent Executive Order 13665, federal employees can no longer be fired or be punished for discussing their pay or their coworkers’ pay. The rule applies to federal contracts and subcontracts that exceed $10,000 in value.
In the tech industry, many smaller companies already engage in total comp transparency. According to Laszlo Bock, Google’s “people operations” head, smaller companies (fewer than 300 employees) will often make pay public because it helps reduce pay discrimination; it’s an easy policy to implement and can help explain differences in pay. At larger companies, however, those clear differentiations start to get hazy.
Yet, pay transparency doesn’t always improve working conditions. Seattle CEO Dan Price of Gravity Payments suffered some employee backlash when he raised the minimum salary for all company employees to $70,000 a year. Some of Price’s employees felt the raise was unjust because they saw individuals were doing little to no work for the same paycheck. Whether the move will work out for the Seattle-based company remains to be seen, although Gravity Payments is expected to recoup their losses by next year, according to “Fast Company”.
Will the movement for total compensation transparency continue, or will the idea behind it fizzle out? Let us know what you think.