The talent ecosystem—like any ecosystem—experiences ebbs and flows and natural cycles. But often we see major shifts slowly develop based on the evolution of new market conditions and technologies. Based on Broadleaf’s experience and Staffing Industry Analysts Industry Forecasting, what are the top three September talent market impacts?
1. Weather – Our hearts go out to those who have been impacted by hurricanes Harvey and Irma. These devastating storms have affected countless lives, and productivity and prosperity in those areas hit hardest will suffer as the localized regions rebuild. Broadleaf is actively partnering with our affected customers to help stabilize.
2. Admin/Clerical Talent – Ebbs and flows…Broadleaf has noticed that, generally, across its customer base, the demand for administrative/clerical talent continues to diminish. In some instances, Broadleaf has witnessed YOY declines of up to 15% in admin/clerical demand. This is reinforced by SIA’s September Staffing Industry Forecast, which cites declines in this market segment since the initial surge in demand post-economic recovery. Simultaneously, SIA notes that travel nurse and educational talent demands continue its double-digit growth.
3. Minimum Wage Increases – A general increase in the pay rates of many contingent workers has occurred. For instance, industrial talent has seen bill rate increases of approximately 3.5% YOY, directly attributable to the Federally mandated bump in the minimum wage rate. Conversely, we’ve noticed that competition for these resources remains high, as unemployment rates are trending downward in this segment. Our most successful customers are those who have not relied on minimum wages to set pay rates, and instead chose to position themselves as workplaces of choice.
It’s almost Q4, and proactive total talent strategists are considering each of the above and their effects on clients, processes, and their overall talent ecosystems.
Have any of the above impacted your business? We’d love to hear about it.
Source: SIA US Staffing Industry Forecast: September 2017 Update