In yesterday’s Advisor, CareerBuilder’s annual job forecast survey predicted a sunny 2015 for jobseekers; today, the survey’s results reveal five up-and-coming trends in the comp and recruiting arenas.
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The survey, which was conducted on behalf of CareerBuilder® by Harris Poll, included a representative sample of 2,192 hiring managers and HR professionals across all industries. The forecast suggests that 2015 is going to be a far cry from what we’ve seen in recent postrecession years, and here are five important trends.
1) Minimum wage increasing. At the center of one of the most debated issues of the year, minimum wage workers may be earning bigger paychecks going forward. Forty-five percent of employers expect to raise the minimum wage within their organizations in 2015.
Of these employers, half (53%) will raise it by $2 or more per hour while one-third (32%) will raise it by $3 or more. Forty-seven percent will limit the increase to $1 or less. The majority of employers (69%) said they will pay $10 or more per hour while 39% will pay $12 or more. Nearly one in five (18%) will pay $15 or more.
2) Small businesses ramping up. While still the most cautious when it comes to expanding staffs, small businesses are planning to have extra hands on deck to meet increased market demands. Twenty-nine percent of small businesses with 250 or fewer employees expect to add full-time, permanent employees, up from 22% last year. Seven percent will downsize, an improvement from 9% last year.
Are you underpaying … or overpaying? How can you know? Find out on March 4, 2015, with a new interactive webinar, Fundamentals of Market Pricing: How to Interpret Salary Data and Make Better Offers. Learn More
3) Education requirements becoming stricter. As roles within organizations become more complex and data-driven, hiring managers have adjusted requirements for their job openings. Twenty-eight percent of companies say they’re now hiring workers with master’s degrees for positions that had been primarily held by workers with 4-year degrees.
Thirty-seven percent are now hiring workers with college degrees for those that had been primarily held by workers with high school diplomas—65% of these employers attributed this to the skills required for positions evolving within their firms.
4) Part-time jobs increasing. Twenty-three percent of employers expect to recruit part-time workers over the next 12 months, up 6 percentage points over last year. While various factors will influence this trend, 14% of all employers stated they will likely hire more part-time workers in 2015 due to the Affordable Care Act.
5) Cubicle walls coming down. Employers subscribe to different schools of thought on what creates the most productive and collaborative work environment, with some leaning toward eliminating any physical barriers. Thirteen percent of employers reported that their companies are implementing an open space floor plan with no cubicle walls in 2015.
Trends in market salary data are also constantly evolving—and employers need to know what the market rate is for every position to stay competitive in attracting top talent. How to get there? Fortunately, there’s timely help in the form of BLR’s new webinar—Fundamentals of Market Pricing: How to Interpret Salary Data and Make Better Offers. In just 90 minutes, on Wednesday, March 4, 2015, you’ll learn everything you need to know about market pricing … and how to use good data to make solid compensation decisions.
Register today for this interactive webinar.
Know the 2015 salary market—stay competitive. Join us Wednesday, March 4, 2015, for a new interactive webinar, Fundamentals of Market Pricing: How to Interpret Salary Data and Make Better Offers. Earn 1.5 hours in HRCI Recertification Credit. Register Now
By participating in this interactive webinar, you’ll learn:
- How to ensure your job descriptions are up to date, as job responsibilities change over time
- How to define hybrid jobs that may have morphed because of changes in technology, layoffs, and goals
- How to determine benchmark job categories
- Which market surveys to select and where to go for trustworthy data
- When to use free or paid survey data
- What information from the data is vital
- How strategic market pricing can help attract and retain key talent
- How to assess data history and use surveys strategically
- How to determine whether you lead, lag, or lead-lag your industry, and make better decisions as a result
- How to determine the best employee compensation rates for your organization
- And much more!
Register now for this event risk-free.
Wednesday, March 4, 2015
1:30 p.m. to 3:00 p.m. (Eastern)
12:30 p.m. to 2:00 p.m. (Central)
11:30 a.m. to 1:00 p.m. (Mountain)
10:30 a.m. to 12:00 p.m. (Pacific)
Approved for Recertification Credit
This program has been approved for 1.5 credit hours toward recertification through the Human Resource Certification Institute (HRCI).
Join us on March 4, 2015—you’ll get the in-depth Fundamentals of Market Pricing: How to Interpret Salary Data and Make Better Offers webinar AND you’ll get all of your particular questions answered by our experts.
Interesting to see that only 14% attribute the increase in part-time workers to the ACA. Not that it will stop politicians from asserting otherwise.