The No. 1 recruitment metric employers track when assessing a new hire's effectiveness

After completing multiple rounds of interviews and presenting a job offer to a promising candidate, the work has in many ways just begun. Now that the new employee is starting at your organization, it's crucial that you help ensure their success.

Before that process begins, you’ll also want to determine whether you can effectively track the productivity of that new associate. “Making the right hire is crucial for your business’ future,” says Kathryn Budd, director of human resources for MRINetwork. “That’s why tracking a new hire’s effectiveness is imperative - and something you should weave into your human resources process from day one.”

In fact, according to the 2019 MRINetwork Recruitment Trends Study, there’s one recruitment metric that stands out among the rest when trying to gauge a new hire’s effectiveness: performance tracking. Nearly half (48 percent) of employers said it was their top benchmark for assessing a new hire’s effectiveness.

Meanwhile, other factors include:

• Tracking the source of successful candidate hires (35%)

• Source and quantity of candidates who were offered a position (33%)

• Time to hire (32%)

• Interview-to-hire ratio (31%)

• Fall-off rates: new hires who accept offers, but don’t show up for the first day of work (27%)

What does performance tracking of a new hire mean? It’s the process of evaluating how well an employee is doing at your organization through a variety of strategies, tools and resources.

However, this isn’t always clear-cut. For example, according to a Forbes article written by CEO Robert Glazer, the definition of success can be murky. “Fit and performance remain gray areas for many business leaders,” he writes. “Situations arise where it’s clear that something has gone wrong, but no one is sure if the problem is with the employee or with management.”

That should never be the case at your business. “It’s extremely important to clarify your company’s definition of success for new employees,” says Budd. “That way, you can find and implement strategies to efficiently track performance.”

For instance, one study cited by Forbes found that “the process matters.” It continues that the performance review process “can be viewed as uncomfortable, unfair and uninspiring.” To help improve it and, “make sure employees accept the feedback, managers must acknowledge the individual identities of their workers and their specific contributions to the organization over time.”

Here are strategies to consider when tracking a new hire’s effectiveness:

1. Conduct performance reviews that are holistic and well-documented

The first way is through the performance review. According to a Chron.com article, written by financial writer Joseph DeBenedetti about the methods of tracking performance, “Standardized performance review sheets allow managers to track employees’ fulfillment of, and progression toward, operating objectives over time.” These can take into consideration both technical skills as well as information about a person’s interpersonal abilities.

However, you should also create a culture where employees, especially new hires, receive ongoing feedback and check-ins. This is especially important for younger talent. As one Forbes article on the transformation of worker feedback notes, “Ongoing reviews have been a better way ... to stay on top of professional development and opportunities for improvement rather than talking about it once a year.”

Therefore, offer continuous reviews alongside the more standardized annual review to give employees the more regular feedback they need to succeed.

2. Take peer reviews into consideration to see how an employee works with others

Conducting peer reviews and appraisals is a second strategy to follow. You can conduct these by speaking with multiple employees and managers about the new hire’s work, reporting trend data from these conversations to “identify favorable and unfavorable patterns of behavior,” according to the Chron piece.

“Conducting 360-degree review procedures are important because they help give your talent the opportunities needed to truly thrive,” concludes Budd. “By setting these up, employees will have the tools they need to succeed from day one with your company, which will help your bottom line as well.”

Through these strategies, you’ll have a strong grasp on how your new hire is doing at work. This will greatly boost your organization’s efficiency as well as keep your company culture strong for years to come.

 The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com

BLS Employment Situation Report -- for April 2019

For the first third of 2019, the American economy has continued its winning streak. Job growth kept momentum in April that was in sync with the surge seen during March, after a decline in February that, by now, seems more like an anomaly than anything else. According to the latest edition of the Employment Situation Survey issued by the Department of Labor's Bureau of Labor Statistics, nonfarm payroll organizations in the U.S. added 263,000 new positions during April. This is over 70,000 greater than March's addition of 189,000 jobs - a figure revised by the BLS from an initial 196,000 - and ahead of the economists' polls conducted by Bloomberg and Reuters.

The unemployment rate fell to 3.6 percent, a low not seen since 1969. As noted by The Washington Post, conditions like these constitute what economic experts refer to as "full employment," since businesses in the U.S. ultimately have more open jobs than there are unemployed people to take them. Joe Stagnaro, president of Pennsylvania operations for the trucking and warehouse firm McLane Company, commented on this in an interview with the Post.

"The economy is good, but that's ... difficult for employers," Stagnaro told the news provider. "The people you want to hire are employed by someone else."

He also said that his company was developing an on-site training program so that interested workers who weren't yet qualified for trucking jobs could learn the necessary skills at no cost and eventually take open positions at McLane. The Post reported this and other internal talent development strategies are growing more common.

There was a slight month-to-month drop in the labor force participation rate from March to April, with this indicator falling to 62.8 percent, but since that number is identical to its total from April 2018, it isn't considered alarming by the BLS.

Professional and business services beat out all other American industries in terms of hiring by a sizable margin last month, with a whopping 76,000 jobs added to its payrolls. Administrative and support was the biggest category within professional services jobs to see gains. The next-closest sector - construction - added 33,000 new roles. Healthcare also continued its steady trend of considerable growth in April, with organizations in the field bringing on 27,000 new personnel for open positions. Also noteworthy is the sizable jump seen in social assistance services, which grew by 26,000 last month after not showing any statistically significant growth or decline for at least the past 12 months. Lastly, the federal government added 12,500 workers, and the upcoming U.S. Census is likely to drive that total up.

Although manufacturing saw only minor growth (4,000 jobs) and retail trade lost 12,000 workers in April, these negative shifts were not nearly significant enough to derail the overall trend of growth.

Average hourly earnings rose 6 cents to $27.77 in April. Wages increased 3.2 percent on a year-over-year basis last month, unchanged from the year-on-year pace seen in March. However, when examined in conjunction with other economic indicators, it makes for a favorable assessment of current conditions. Torsten Slok, chief economist at Deutsche Bank Securities, elaborated on this in an interview with Bloomberg TV.

"[The report is] clearly telling you this economy is still chugging along very nicely. It is inflationary in the sense that wages did go up but they didn't go up as much as we had expected. Goldilocks is the best description of this," Slok said to the business news provider's television channel, effectively calling the American economic status "just right."

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

Ensure Your Job Application Process Isn't Eliminating Top Talent

Take a look around, almost everywhere you go it seems everyone is on a mobile device. These mechanisms provide us with 24/7 access and the ability to instantly connect to work, and almost every aspect of our personal lives. It should be no surprise then that candidates expect this same convenience when applying for a job. However, this is one task that many employers haven’t adapted for ease on a mobile apparatus, according to the results of the 2019 MRINetwork Recruitment Trends Study.

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In fact, 76 percent of candidates say they expect the ability to submit applications and receive feedback via a mobile device. However, just 30 percent of employers offer a mobile-friendly application process. While that's up from 10 percent who did so in 2015, according to separate analysis from the Society of Human Resources Management (SHRM), employers aren't transitioning to these on-the-go options as quickly as today’s workers expect.

Josh Ostrega, chief operating officer and co-founder of the software company WorkJam, told SHRM that it's in employers' best interest to invest in the digital era.

"These companies may be missing out on the most qualified prospects," Ostrega explained. "Highly skilled workers don't stay unemployed for long. Enforcing a sluggish application process encourages strong candidates to look elsewhere."

Here are some strategies that you as an employer may want to consider implementing to optimize candidates' experience:

Partner with an industry-specialized recruiting firm

By working in concert with an industry-specialized recruiting firm, you can give your candidates more on-the-go options for applying to jobs, while also gaining access to a larger pool of potential candidates. “The odds of you finding a perfect candidate who is also looking for you is miniscule,” said Chris Hesson, manager of technology training for MRINetwork. “Increase your odds by working with a recruiter who is the expert in your arena and knows the players. A savvy, niched, focused recruiting firm can also help ensure top talent are applying for your jobs via platforms that are on the cutting edge of technology,” This can be especially critical if your company isn’t able to invest in a mobile-friendly process.”

Draw on other tech capabilities

If your organization is able to make some technology investments, consider offering quick-apply options on job boards and social networking sites like LinkedIn. Here, candidates can simply provide their profile link for consideration. If you’re directing applicants to apply through a career site, make sure downloaded resumes can be parsed so that candidates don’t have to make manual entries.

Harnessing the power of mobile technology is a win-win, both for candidates and your company's ability to attract top talent on an ongoing basis. Ensure your organization isn’t losing out on the best in the industry because of a clunky, outdated process.

 The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

Employment Summary for March 2019

After a wild divergence in U.S. job growth during the first two months of 2019 - more than 300,000 in January and a mere 20,000 in February - March seemed much more in line with America's average pace of labor-force expansion. According to the latest edition of the Employment Situation Survey issued by the Labor Department's Bureau of Labor Statistics, nonfarm payroll organizations in the U.S. across all industries added 196,000 jobs in March. This figure reasonably outperformed the expectations of economists surveyed by Bloomberg, who had expected the addition of 177,000 jobs. Meanwhile, the country's unemployment rate held steady at 3.8 percent, in line with previous months during this latest period of American expansion.

Bloomberg stated that a number like this could be a solid indicator of what economic experts around the world have debated for at least the past year - namely, just how sustainable the pace of U.S. job growth really is. According to the financial news provider, job gains throughout the near future will likely be more in line with March's number than with the massive swells seen numerous times during 2018 (multiple instances of 250,000 or more jobs added), but still strong enough to help fuel broader economic growth.

The healthcare industry greatly outpaced all other American sectors in terms of roles created during March, with 49,000 new jobs coming onto the payrolls of hospital systems, ambulatory healthcare services and other organizations in the field. Professional and business services came in second with a total of 34,000 new positions, while food service and drinking establishments added 27,000 jobs. Computer systems design and services, a sector that has seen little major expansion or contraction during these past years of American growth, saw a notable uptick of 12,000 jobs.

On the other end of the spectrum, construction added 16,000 jobs this month - not nearly enough to recover from its loss of more than 30,000 workers during February. Additionally, while BLS considered both the manufacturing sector's loss of 6,000 jobs in March and its gain of 1,000 roles in February as equivalent to having "changed little," some may find these figures worth noting due to the major role that manufacturing's growth played in America's economic expansion over the past two years. Any major positive or negative fluctuations in the months to come will likely draw considerable attention.

Average hourly earnings grew 3.2 percent year-over-year in March, slightly below the market's expectations and also down from February's gain of 3.4 percent. However, the overall strength of the labor market should still fuel healthy consumer spending and keep inflation low. The latter is undoubtedly unfavorable to some, but directly in line with the goals of the Federal Reserve, which seeks to monitor the efficacy and substance of American economic strength in the midst of trade tensions and difficulties in numerous global markets.

Subadra Rajappa, head of U.S. rates strategy at Societe Generale SA, elaborated on this during a live interview with Bloomberg Television.

"This a perfect report for the Fed because it actually corroborates what they've been saying all along, which is there are no wage pressures," Rajappa told the news service. "There's very little risk of wage inflation."

Rajappa and many economists in similar positions (both domestically and around the globe) expect the Fed to reduce federal benchmark interest rates in the near future, moderating the rapid pace of rate hikes seen during 2018. Global trade tensions are considered a likely cause of this.

In fact, the relationship between the U.S. under President Donald Trump and various major economies continues to represent the biggest potential hurdle for the American market, which is otherwise strong, in the coming months. After threatening to close the country's border with Mexico in late March due to his concerns about illegal drugs and immigration, Trump changed his mind April 4, according to The Washington Post: Instead, he said he'd impose major economic sanctions on the U.S.'s third-largest trading partner in exactly one year if the Mexican government doesn't address border-security issues to his satisfaction. The president's intensity regarding these matters has created bipartisan concern about a border closing or restriction's effects on trade.

On the other hand, the South China Morning Post reported that negotiations between China and the U.S. to end their trade war are improving. President Trump met Vice-Premier Liu He, China's leading trade negotiator, at the White House April 4 and said a deal that relaxed tariffs on both sides could be finalized within the next four weeks.

The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com

Video: How to Craft a Strong Change Narrative for Your Company

When your company is undergoing major change, it can be a tough transition for everyone, especially your organization's employees. After all, they may be wondering how the company's transformations will affect them, their roles, responsibilities, co-workers, leadership and other aspects of their lives in the coming months.

Click to watch the video.

To help dispel any rumors and to ensure everyone is on the same page about your company’s upcoming progress, it’s crucial that you craft a compelling and honest narrative with your leadership team. As a result, you’ll be in a strong position to address any employee issues or disagreements, while at the same time heightening your company’s success for the upcoming months.

Marquis Parker, vice president of business services for MRINetwork, says it’s important to always consider your employees first. “Change is never easy. Make sure you’re making staff a top priority as you put together your change narrative,” he says. “It’s very likely their day-to-day work will be directly impacted by the business transformation, so you want to do everything possible to make the process as painless as possible.”

What does a strong strategic narrative entail? According to Forbes contributor Chris Cancialosi, it involves several things. “A strategic narrative centers on a leader’s ability to articulate a clear and compelling vision and strategy for the future of the organization,” he writes. One can also be useful because it:

1. Illustrates the change in a positive fashion

2. Creates an environment for employees to give feedback

3. Shows that a company values its key stakeholders

Here are three tips to guide you in crafting your own successful strategic narrative:

1. Gather input from the most important individuals at your company

To successfully craft a compelling and trustworthy change narrative for your company, the first thing you want to do is to collect as much information as possible, including input from “key stakeholders,” according to Cancialosi. Patti Sanchez, who wrote an article for the Harvard Business Review and is the Chief Strategy Officer of Duarte, agrees. “A transformation won’t succeed without broad involvement,” she writes.

To do this effectively, you’ll need to tap your trusted advisors and members of your company’s leadership team, to discuss and weigh the story in a truthful and supportive manner. “Try and get as much feedback as you can during this pivotal step in the process,” says Parker. “It will help you craft an even stronger transformation narrative.”

The result of brainstorming the narrative with the individuals who know your business best is that you will be able to present something that will ultimately benefit the transformation you’re aiming to enact over the coming year.

2. Work closely with your team to draft a narrative that exudes empathy

After gathering this crucial input from stakeholders, it’s time to craft a narrative that speaks to the transformation your company is about to undergo and also illustrates empathy. In her HBR article, for example, Sanchez showcases just how important this quality is when presenting organizational change. “If you want to lead a successful transformation, communicating empathetically is critical,” she writes.

However, this won’t be easy. In fact, it’s likely to be a time-intensive process because it also requires a strong vision of the different avenues though which you want to share your transformation. Some options include sending emails to employees, holding meetings to fill people in on the upcoming changes, working with public relations and media teams to share the information publicly, and other strategies.

Once you’ve figured out how to strategically share your change narrative in an empathetic way, you can meet with your leadership team (1) to discuss what must be included in the outline and (2) to ultimately agree upon what channels will serve as the foundation of your transformation communications.

3. Share the narrative with your employees in a confident, composed manner

You’ve spent weeks brainstorming and building out your strategic plan of action for sharing this change narrative, and now it’s time to put the final touches on the communication plan. Once it’s been edited and approved by key members of your team internally, it’s finally time to share this information with your employees as well as any external partners.

During this period, it important that those on your leadership team act confidently when discussing information with others. For instance, a recently published article on Fast Company’s websites states, “Change can breed unexpected developments, and leaders need to show composure to the team looking to them for guidance.” As a result, you’ll help others feel more comfortable about the upcoming transformations.

Another key part of the process: make sure that you allow those affected by these changes and transformations to share their feedback at this juncture (whether it’s positive or negative). Parker agrees that you should keep open lines of communication with employees. “Always be accessible to your workers during these uncertain times,” he says. “They’ll thank you for your honesty and will value transparency from the organization.” You’ll help keep your employees motivated, happy and excited to continue working for you, while also investing in the continued success of your company.

Ultimately, gathering input, crafting a narrative that illustrates continued commitment to employees and sharing information in a thoughtful manner will help your transformation process attain its goals.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

MRINetwork Ranked Among Top Executive Recruiting Firms by Forbes in 2019

For the third consecutive year, Forbes.com, a leading source of reliable business news and analysis, enlisted the services of research firm Statista to identify America's most well-respected recruiting firms. Statista compiled two lists of search firms: "Executive Recruiting," those firms focused on roles with at least $100,000 in annual pay; and "Professional Recruiting," firms specializing almost exclusively in positions of under $100,000 in annual pay.

To determine the best recruiting firms, Statista surveyed 25,000 recruiters and 5,000 job candidates and human resources managers who had worked with recruitment agencies over the last three years. Respondents were asked to nominate up to 10 recruiting firms in the executive and professional search categories. Firms could not nominate themselves; last year's findings were considered. More than 17,000 nominations were collected, and firms with the most recommendations ranked highest.

The results are in. Again this year, MRINetwork (identified as Management Recruiters International, Inc.) was ranked as one of the top 20 firms out of 250 in the Executive Recruiting category. Click here to read the Forbes.com article and see the full rankings list.

This prestigious ranking recognizes the caliber of the talent and the value of relationships that MRINetwork professionals deliver throughout the year. 

The Trevi Group | www.TheTreviGroup.com

Setting up the Change Management Process for Success

Imagine this scenario: your company is preparing for organizational change now or in the coming months. Maybe you need to restructure in order to drive greater productivity and revenue. Or perhaps change management is necessary at your firm to complete a large merger or acquisition, smoothly and effectively. Regardless of the reason(s) for business transformation, it's rarely an easy process.

Click to watch the video.

In fact, the Harvard Business Review reports that there’s still a relatively low success rate for these types of programs. “Corporate transformations still have a miserable success rate, even though scholars and consultants have significantly improved our understanding of how they work,” the source states. “Studies consistently report that about three-quarters of change efforts flop - either they fail to deliver the anticipated benefits, or they are abandoned entirely.”

This of course can lead to a large waste of time for your organization and deeply impact the company’s bottom line. Therefore, it’s crucial to put a strong change management process in place, so your company and its employees complete the change efficiently and with little difficulty.

Marquis Parker, vice president of business services for MRINetwork, adds that an organization needs to always put employees first during any transformation processes to ensure the best results. “If you want to see the changes at your organization occur smoothly and without fault, it’s important that you always consider how your decisions will affect your employees, the heartbeat of your company,” he says.

To help, here are three strategies your business can use to change effectively and achieve your goal easily this year and beyond:

1. Design the change management program for your company’s needs.

The first step in successfully setting up a change management program for your company is to execute a process based on your business’s unique needs. For example, don’t strive for “quick wins” or make other hasty choices that may end up facilitating a faulty plan of attack. Instead, take the time to think through your process, only after having a strong case for change.

You also need to understand three crucial elements of your change management strategy, according to the Harvard Business Review:

1. The catalyst for transformation

2. The organization’s underlying quest

3. The leadership capabilities needed to see it through

Take a step back and ensure that you have a solid understanding of why your organization needs change, which problem(s) change is attempting to solve, and whether you have the leadership resources to be effective. Doing so will greatly enhance your company’s ability to manage a large strategy shift without failing.

2. Communicate with key stakeholders.

As part of any strong, well-organized change management process, you should feel empowered to communicate effectively with your company’s key stakeholders. This is defined as speaking with and proactively alerting leadership, employees, shareholders and others who have a profound impact on your business and who may be affected by these decisions.

In order to communicate with these key stakeholders, you shouldn’t only discuss important change processes with senior staff, according to one Forbes Magazine article about communicating change.

“If you think your company’s strategy conversations should only take place at the most senior level, you could unknowingly be crippling your company’s bottom line,” the source states.

Instead, you need to craft what’s called a strategic narrative. This will serve three purposes: it communicates the upcoming changes, shares the reason behind those changes and discusses the future process for the organization and its key stakeholders.

So, what are strategic narratives? According to Forbes, they are a “form of storytelling, and like all good stories, they need a compelling plot, characters, a climax, and a conclusion. By telling this story, employees and other stakeholders will understand their place in the larger narrative and how they can take an active role in shaping the future of your organization.”

As a result, communicating in this manner will greatly increase the chances of your change management process being a success. It will also position the changes in a clear and concise way, make company leadership appear more humane and create an environment of inclusivity.

“Make sure that you put together a thoughtfully executed communication plan so that key stakeholders feel knowledgeable about the upcoming and already completed transformations at your company,” says Parker. “Let them ask questions too. After all, the last thing you want is someone to feel left out because of a lack of foresight or planning during such a crucial period for your organization.”

3. Identify the resources to lead change effectively.

Along with designing a powerful change process and communicating those changes clearly, you also need to define the resources necessary for success. While this isn’t always easy, it is crucial for the organization’s future.

For example, you need to recognize whether or not you have the human resources function in place to proactively and efficiently implement the decided-upon change management plan, according to Forbes.

“If you do not have the right understanding or team to manage the plan, then you may want to consider an experienced change management consultant, because having the wrong person in this leading role can mean the difference between success and failure in a merger,” the article states.

You should “share financial information, customer feedback, employee satisfaction survey results, industry projections and challenges, and data from processes you measure” to service whether or not any other resources are to implement change, according to an article on thebalancecareers.com.

Once this data has been tabulated and you have a measure of what’s likely to occur as a result, you’ll have a greater understanding of necessary resources. “Spend extra time and energy working with your frontline leader staff and line managers to ensure that they understand, can communicate about, and support the changes,” according to the article. “Their action and communication are critical in molding the opinion of the rest of your workforce.”

By using the above strategies, your company will be ready to manage organizational change in a structured, cohesive and efficient way. “You’ll be thankful that you took the time to brainstorm and draft a comprehensive plan of action, based on these strategies, before enacting any changes,” says Parker. “Your company will be stronger for it.”

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

BLS Employment Situation Report: January 2019

The first month of 2019 picked up where 2018 left off in terms of job growth in the U.S., with the number of nonfarm payroll jobs added by American businesses surpassing the strong figure seen last December: Per data from the Bureau of Labor Statistics' latest Employment Situation Summary, U.S. organizations brought on 304,000 new workers in January. CNBC reported that a Dow Jones survey of economic experts initially expected about 170,000 jobs added.

While this is slightly below the total of 312,000 originally reported for December 2018, the newest report revised that month's gains down to 222,000 and brought November's comparatively modest figure of 170,000 up to 190,000. Although the unemployment rate rose marginally between December and January - from 3.9 to 4 percent - this was attributed to a surge in the number of Americans actively looking for work, rather than any troublesome trend.

Additionally, the partial shutdown of the U.S. federal government turned out to not affect overall employment to any statistically significant degree - beyond an 11 percent jump in the number of underemployed persons (those working part-time out of economic necessity). With that said, it's worth noting that the BLS considered those who worked without pay or had been furloughed during the shutdown to have been fully employed, because their last paycheck came January 12, 2019, which was within the survey week for the report. As such, any full accounting of the shutdown's economic effects (or lack thereof) on the economy remains unknown, and there is still the potential for another shutdown in a few weeks, considering that the bill to reopen the government only included appropriations lasting until February 15.

The leisure and hospitality industry led all other U.S. employment sectors in jobs added during January by a significant margin. Its massive gain of 74,000 positions was fueled not only by food and drink services but also by new opportunities in amusements, gambling and recreation. Construction came in second place with 52,000 new jobs created across all of its employment subcategories, and healthcare was not too far behind with an addition of 42,000 positions.

Several other sectors also experienced notable surges in job creation, such as the dependably strong professional and business services industry, which added 30,000 new positions to its payrolls across the U.S.

Transportation and warehousing increased almost as much with the creation of 27,000 new roles. Rounding out sectors with noteworthy professional additions were retail trade, manufacturing and mining, which brought on 21,000, 13,000 and 7,000 new workers, respectively. No other industries saw their labor forces rise or fall by any empirically significant level.

There were a few less positive indicators found within the latest BLS report. Wage growth, for example, was somewhat slower than expected, with a 3 cent increase in the average American hourly wage representing growth of just 0.1 percent - under the 0.3 percent predicted by various economists. On a year-over-year basis, earnings have grown 3.2 percent between January 2018 and 2019.

Some business leaders may also find themselves perturbed by the sudden switch to a cautious stance by the Federal Reserve, characterized by Fed Chair Jerome Powell's January 31 statement that the central bank would not raise its key interest rate to start the year. According to NPR, Powell cited factors including the impending upheaval of Brexit and various trade disputes around the globe - including the arguments between the U.S. and China - as motivations for the Fed's decision. Regardless of the Fed’s position, the economic picture for the U.S. at the start of the new year is undoubtedly positive.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

(Video) How leveraging training programs can attract and retain star employees of all ages

While many employees may be comfortable in their current roles, it's probably safe to say that most top talent want to continually advance in their career. Regardless of whether the goal is to be promoted within a company, or simply stay up-to-date on new skills or technologies - high performers of all generational groups want to improve themselves, so they're better tomorrow than they are today.

Click to watch the video.

This reality is great news for businesses, which are increasingly focusing their operations on training. However, it's equally important to make these training opportunities apparent to candidates, as this can encourage them to join your company's ranks should they be extended a job offer.

Training to become a top priority in 2019

Companies have a lot of priorities throughout the year, and at the top of the list is strengthening employee training programs. In fact, 58 percent of employers in the 2018 MRINetwork Performance Management Study said training programs, as well as attracting and retaining top talent are major issues they intend to tackle in the new year.

“Training really isn’t about achieving a quick hit or magical answer,” said Sherry Engel, vice president of learning & talent development for MRINetwork. “It should be part of a strategy to ensure skillsets are aligned with the needs of the business. By strategically focusing development on individuals that contribute to the company’s goals, employers will see improvement in their business outcomes. Not only does this benefit organizations through improved business results, but also leads to higher employee engagement - which ultimately drives retention.”

They're wise to do so, not only because successful training improves work processes, but also because training is something that employees desire. Among candidates in the MRINetwork survey, external training was cited as one of their most preferred incentives for staying with a company.

It's easy to understand why. The job market is extraordinarily competitive and businesses are pulling out all the stops to find the most qualified people. Training gives current workers a leg-up on their competition in the marketplace, while also incentivizing job seekers to apply because of the potential to advance their career.

Workers acknowledge the value of training

Workers today aren’t just competing with other individuals - machines are vying with them as well. Artificial intelligence is used in a variety of industries, in part to reduce labor expenses. Some experts believe that AI will become more commonplace over time, particularly for positions that involve repetitive tasks. However, a recent Gallup poll found that Americans aren't too worried about losing their jobs to robots, especially those with highly specialized skills. This may be because they have faith in the upward mobility that training can spur. In a separate Gallup survey, 43 percent of respondents said they're confident about being able to take advantage of training to improve their skill sets in the event AI puts their job security at risk.

Help workers bridge generational gaps by learning from each other

Regardless of age group, leveraging training makes good business sense. Not only can workers benefit from training that will help them personally in their own career trajectory, but cross-generational training programs, such as mentoring and succession planning, can also help the organization ensure the next generation of employees are being prepped to lead the company into the future. Senior staff can also benefit by learning more efficient processes or technologies from younger workers who may be more adept with these platforms.

“Employers should take a blended approach to training, ensuring specific development programs are aligned with the best delivery approach,” advised Engel. “With a growing number of Baby Boomers retiring, there’s an enormous opportunity to provide formal mentoring and succession planning programs that share the knowledge of years past with the up-and-coming generations. Today’s learner also wants their training to be short, focused and timely, through delivery platforms such a short videos or text tips. The most effective programs incorporate these methods.”

Just as junior staff can learn from those more experienced than them, senior staff can also benefit by learning about more efficient processes or technologies from younger workers, who may be more adept with certain platforms.

Generation Z - those born from the mid-1990s to the early 2000s - are particularly interested in training opportunities. According to LinkedIn, Gen Z is on pace to represent 20 percent of the American workforce by as early as 2020. Given their relative newness to the working world, they're ready and willing to learn the ropes. Sixty-two percent of Gen Z respondents in a LinkedIn survey said becoming better at their job was the main reason why they were open to learning, more so than for salary or promotion purposes.

“Gen Z are interested in training on skills that will benefit them in the job they have today, as well as for roles they will have in the future,” Engel said. “Giving them this opportunity can be mutually enriching and rewarding.”

Ultimately, top performers of all generational groups are driven to succeed. The quickest, most effective way of achieving it is through learning, which training provides. Be sure to mention training programs that are available to employees in job postings, interviews and reviews. It's a surefire way to attract and retain star talent.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

Key Employment Trends Poised to Impact Your Business in 2019

The U.S. workforce experienced historic gains in 2018 as more than two million jobs were added, and wage increases began to accelerate, according to the monthly ADP National Employment Report and quarterly Workforce Vitality Report. The unemployment rate stood at 3.7 percent in November, a near 50-year low, which made it difficult for companies to bring in both permanent and short-term, highly-skilled talent. This trend is expected to continue into the new year as the talent pool continues to shrink.

To stay competitive in today’s marketplace, finding and retaining the right talent is essential. Yet how to do that effectively remains a challenge. “New emerging trends as well as trends that have been identified over the past several years, are forcing companies to embrace new ways of thinking about their workforce and to reevaluate their hiring processes,” says Nancy Halverson, general manager for MRINetwork. “We’ve identified and assessed several significant trends that will most impact them in 2019.”

Transformation and change in the workplace

Business leaders who are actively embracing change recognize that innovation comes from people. As they look toward the future of their business operations, it is this focus on people, that is causing many to prioritize workforce planning and sourcing transformational leaders that can move the company forward. By drawing on the expertise of these change agents, employers will gain new approaches to work and improved company cultures that lead to innovation and increased productivity. “These forward-thinking organizations are driving innovation and gaining momentum by changing the nature of work itself,” says Marquis Parker, vice president of business services for MRINetwork. “They are enabling people to come together and work in a focused, collaborative manner to solve problems and come up with creative approaches to their lines of business. They know that the real value comes from their employees’ creativity, market insights, personal networking, and ability to influence others.”

Predictive analytics

Analytics have the potential to transform the HR function, from recruitment and workforce planning to performance management and employee engagement. Companies are increasingly using predictive analytics to refocus their workforce planning lens from a qualitative one to a quantitative one, enabling them to scientifically unlock and measure the value of people to their organization. This approach views employees as a critical and valuable asset that can be optimized to benefit both individuals and the organization as a whole. It also has the potential to determine which departments and employees are under-performing, allowing managers to create interventions, provide training or move team members around to increase productivity.

According to Deloitte’s 2018 Human Capital Trends Report, although 85 percent of survey respondents acknowledged the importance of people data, only 42 percent indicated that their organizations were ready to implement it fully. Anne Hayden vice president of human resources for MRINetwork believes this will change dramatically in 2019. “The rising use of predictive analytics will be one of the biggest recruiting trends to drive productivity and profitability,” she says. “Collecting early performance data on new hires and matching it against assessments allows for the creation of a feedback loop that automatically updates and continually refines the profile of a successful employee.”

Training

Training will be a critical focal point in 2019. In fact, employers noted in the 2018 MRINetwork Performance Management Study, that it will be one of their top priorities in the new year. “When designing meaningful training programs that have the ability to attract and retain, it’s important to think about the top talent you’ve worked with in the past,” advises Sherry Engel, vice president of learning and talent development for MRINetwork. “Most of them are typically natural learners, with a passion for continuous self-improvement.” Engel also notes that in order to keep these top performers as happy and engaged employees, leaders must create an environment where people have the ability to grow. She asks, “As a leader, are you providing the right culture and environment to attract and nurture those passions?” “It’s not just about checking the box for a learning and development program, but also creating a culture that supports taking chances, and supports the desires of people to take on new responsibilities and try new things. Leaders must be in tune with their employee’s professional desires and provide opportunities to embrace development and growth. Without that, top talent will seek it elsewhere.”

Workforce agility

As organizations become more agile, they will have a greater reliance on contractors to help bridge the skills gap. Companies across all industries are embracing this trend, with an emphasis on accessing skilled, mission-critical talent. According to Staffing Industry Analysts Workforce Solutions Buyer Survey 2018, respondents report that 22 percent of their staff is currently contingent and project that by 2028 that figure will rise to 30 percent. Factors contributing to this trend include increased turnover and low employee engagement, especially among younger workers. As a result, some businesses are moving away from trying to keep employees around longer and are instead reducing costs associated with turnover and embracing the gig economy. It is particularly prominent in industries that have changing labor demands for different projects - one project, for example, may need 15 people while another may need 150. “Employers need to assess the right mix of traditional fulltime workers and contractors to best meet their business objectives,” says Tim Ozier, senior director of contract staffing sales for MRINetwork.

Blind hiring

Bias in the workforce remains a big issue. To minimize any controversy, companies are being encouraged to make hiring a blind process. In standard screening and interviewing, unconscious bias easily becomes part of the equation by including data that gives away key parts of a candidate’s background: gender, age, race or even alma mater. By stripping away any information that may reveal demographic data, the first wave of screening can be done based purely on abilities and achievements. “This allows for a more diverse workforce built on merit,” says Halverson, “but the problem is trying to achieve this with the proliferation of social media. Using a third-party recruiter is usually necessary to ensure a truly blind process.”

The priorities and challenges inherent in these significant trends are clear, and readiness to respond to them is essential. The ongoing tight labor market means that companies will continue to be challenged with finding and retaining the right employees. “Given the importance that business leaders place on the talent management agenda,” concludes Halverson, “it’s a good time to reflect on what can be done and to take action, focusing on what should be done differently, and what might be improved to move the needle in this critical area.”

 The Trevi Group | “ Executive Search for Technology Professionals” | www.TheTreviGroup.com