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Archive for March, 2016

Higher level of education needed for Vegas IT jobs?

Monday, March 28th, 2016

A higher level of education, such as a Master’s degree, may be preferred by employers for Vegas IT jobs compared to a four-year degree.

According to a new CareerBuilder survey, nearly a third (32 percent) of employers have increased their educational requirements over the past five years.

More than a quarter (27 percent) are hiring employees with master’s degrees for positions primarily held by those with four-year degrees in the past, and 37 percent are hiring employees with college degrees for positions that had been primarily held by those with high school degrees.

According to the survey, of the employers who have increased their education requirements in the past five years, most have done so for middle-skill jobs:

  • Entry-level or low-skill: 46 percent
  • Middle-skill: 61 percent
  • High-skill: 43 percent

Not all of the pressure to increase their education is on employees, however. Some companies are taking a proactive approach to bridging the skills gap and overcoming the talent shortage by reskilling employees themselves.

More than a third of employers (35 percent) trained low-skill workers and hired them for high-skill jobs in 2015, and a similar proportion (33 percent) plan to do the same this year. Similarly, 64 percent of employers said they plan to hire people who have the majority of skills they require and provide training to them for the rest.

To help employees gain the skills they need, half of employers (50 percent) pay for training and certifications that employees earn outside the company, and 2 in 5 employers (40 percent) are sending current employees back to school to get an advanced degree — with 23 percent funding it partially and 12 percent providing full funding.

Others are taking training in-house. Nearly 7 in 10 employers (68 percent) said their company offers training programs to employees, and the majority of these employers say these training programs offer soft skills (71 percent) or hard skills (72 percent).

“Continuous training empowers employees. It gives them the confidence that they are up-to-date with new developments in their industry and have a stronger understanding of the company’s future,” said Rosemary Haefner, chief human resources officer for CareerBuilder. “One of the biggest excuses to putting a training program in place is often the perception that it will take too much time; however, there is no investment that you can make that will do more to improve productivity in your company.”

Manufacturing jobs in Vegas lost?

Thursday, March 10th, 2016

A new employment report from ADP shows that manufacturing jobs in Vegas might be lost.

Private sector employment increased by 214,000 jobs from January to February according to the February ADP National Employment Report.

Payrolls for businesses with 49 or fewer employees increased by 76,000 jobs in February, in line with January’s downwardly revised 75,000.

Employment among companies with 50-499 employees increased by 62,000 jobs, down from January’s downwardly revised 74,000.

Employment at large companies – those with 500 or more employees – came in at 76,000, a big jump from January’s 44,000. Companies with 500-999 added 14,000 jobs, while companies with over 1,000 employees gained 62,000 jobs.

Goods-producing employment rose by 5,000 jobs in February, just over a quarter of January’s upwardly revised 19,000.

The construction industry added 27,000 jobs, which was slightly above January’s upwardly revised 26,000.

Meanwhile, manufacturing lost 9,000 jobs, the second largest drop in five years. Service-providing employment rose by 208,000 jobs in February, up from a downwardly revised 174,000 in January.

The ADP National Employment Report indicates that professional/business services contributed 59,000 jobs, up sharply from January’s downwardly revised 38,000.

Trade/transportation/utilities grew by 20,000, down from a downwardly revised 26,000 the previous month. The 8,000 new jobs added in financial activities were the least in that sector since August 2015.

“Large businesses showed surprisingly strong job gains in February, despite the continuation of economic trends that negatively impact big companies like turmoil in international markets and a strengthening dollar,” said Ahu Yildirmaz, VP and head of the ADP Research Institute. “The gains were mostly driven by the service sector which accounted for almost all the jobs added by large businesses.” Mark Zandi, chief economist of Moody’s Analytics, said.

 

Is a transparent salary keeping people happy at Vegas jobs?

Wednesday, March 9th, 2016

Having an open discussion about salary may be keeping employees happy at Vegas jobs.

This is according to Payscale, who just released the 2016 Compensation Best Practices Report (CBPR). Based on data from nearly 7,600 survey respondents representing executives, line of business managers and human resource practitioners, the report reflects current attitudes about compensation, business growth, hiring and retention.

The latest annual report shows the most successful companies are adopting open conversations with employees about their salaries and implementing pay increases that reflect individual employees’ performance. The research also shows that most employers consider retention to be their number one priority and they believe annual performance reviews are largely ineffective.

Here are some of the key findings about pay practices and employer attitudes from the 2016 Compensation Best Practices Report:

  • Top performing companies value their people more. The survey shows 86 percent of top performing companies agree with the statement, “our people are our greatest asset,” compared to 78 percent of average companies who agreed with the same statement.
  • Nearly half of top performing companies have adopted open communication around pay. This number is higher than the 40 percent of average companies who report they have transparent pay policies.
  • Top performing companies are more likely to give bonuses to their employees. Last year, 81 percent of these highly successful companies reported giving bonuses (compared to 74 percent of average companies) and half of all top performing companies who gave bonuses in 2015 are increasing the size of their bonus budget in the coming year. In addition, top performing companies were nearly 5 percent more likely to give team bonuses than average companies.
  • Variable pay based on performance is replacing traditional pay increases. In 2015, 74 percent of all companies gave bonuses, an increase of 5 percent over the previous two years. Performance based pay increases were the primary reason for giving raises, far more common than cost of living adjustments or employee promotions.
  • There is a corporate chasm around transparency. When asked about communication around pay, 40 percent of employers reported their company was transparent, but only 21 percent of employees said their company had open discussions around pay.
  • Retaining top employees was listed as the number one compensation priority for all survey respondents.
  • The annual review is becoming passé – When asked to name the biggest HR trend in 2016, 44 percent of companies cited the move to abandon annual performance reviews in favor of a more frequent feedback model for employees.