Employment Summary for March 2021_

Employment Summary for March 2021_

The U.S. Bureau of Labor Statistics (BLS) today reported total nonfarm payroll employment increased by 916,000 in March, significantly above consensus estimates. Unemployment rate fell to 6.0 percent, down considerably from its April 2020 high of 14.7 percent.

Job growth was widespread, led by gains in leisure and hospitality, education and construction.

“The robust recovery of the U.S. labor market continues as reflected in today’s BLS Employment Situation Report. Our Network of over 300 executive recruitment firms is seeing robust growth driven by our clients’ need for transformative talent in this rapidly improving environment,” said Bert Miller, President and CEO of MRI. “Our recruiting professionals reported double digit year-over-year growth in February, with particular strength in the financial, technology and professional services sectors.”

The BLS reported 21.0 percent of all non-farm employed persons teleworked because of the coronavirus pandemic, down from 22.7 percent in February. These data refer to employed persons who teleworked or worked at home for pay at some point in the last four weeks specifically because of the pandemic.

Analysts are anticipating continued job growth acceleration in coming months as the confluence of vaccinations, stimulus spending and pent-up consumer demand power the economy.

“There’s a seismic shift going on in the U.S. economy,” said Beth Ann Bovino, a Ph.D. economist at S&P Global. “The confluence of additional federal stimulus, growing consumer confidence and the feeling that the pandemic is close to abating—despite rising infections in recent weeks—is propelling economic growth and hiring.”

“We were expecting a big number, and today’s jobs report delivered in a major way. It is the flip side of what we saw for March of last year and another clear sign that the U.S. economy is on a strong path to recovery,” said Eric Merlis, head of global markets trading at Citizens Bank.

In March, employment in leisure and hospitality increased by 280,000, as pandemic-related restrictions steadily eased in many parts of the country. Nearly two-thirds of the increase was in food services and drinking places (+176,000). Job gains also occurred in arts, entertainment, and recreation (+64,000) and in accommodation (+40,000).

In March, employment increased in both public and private education, reflecting the continued resumption of in-person learning and other school-related activities. Total jobs increased by 190,000.

Construction added 110,000 jobs in March, following job weather-related losses in the previous month. Employment growth in the industry was widespread in March, with gains of 65,000 in specialty trade contractors, 27,000 in heavy and civil engineering construction, and 18,000 in construction of buildings.

Employment in professional and business services rose by 66,000 over the month. In March, employment in administrative and support services continued to trend up (+37,000). Employment also continued an upward trend in management and technical consulting services (+8,000) and in computer systems design and related services (+6,000).

Manufacturing industry and the transportation and warehousing sectors saw employment growth of 101,000 in March. Of note, since the pre-pandemic month of February 2020, employment in couriers and messengers is up by 206,000 (or 23.3 percent) as consumers opted for at-home delivery of an expanding list of items.

Employment in wholesale trade increased by 24,000 in March, while retail trade added 23,000 jobs.

Financial activities added 16,000 jobs in March. Job gains in insurance carriers and related activities (+11,000) and real estate (+10,000) more than offset losses in credit intermediation and related activities.

Employment in healthcare and information changed little in March.

“The competition for talent is placing demands on clients to ensure their firm is a ‘destination’ for executive, technical, professional and managerial performers who are true multipliers.

“A strong employer brand is critical as job growth momentum accelerates in 2021. We counsel our clients to focus on the substantive elements of core brand strength. It is essential to communicate the firm’s values, goals, and culture, while not getting caught up in a flavor-of-the-month competition on issues like work from home policies.

“In time, the value of face-to-face collaboration will be recognized as a key component of team success. We urge clients to develop comprehensive flexible workforce solutions incorporating best practices from the virtual environment, learned during the pandemic, into a hybrid setup. Clients now have total talent access solutions available to them as they look to regrow their workforce, including both remote-work models and contract staffing solutions that fit into the new world of work,” noted Miller.

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

How to Have Conversations With Your Team About Burnout_

By Annette Wehrli

2020 was a tough year. In addition to impacting how we conduct our personal lives, the pandemic has drastically transformed the World of Work and, unfortunately, many employees are feeling burnt out as a result.

To start with, many people have reached a point of general pandemic fatigue. This has gone on far much longer than anyone anticipated; life patterns have been disrupted, relationships have been strained and/or lost, and general stress levels have skyrocketed.

For some people, burnout is intensified by the pressure of physically going to work during a global pandemic; this is especially true for healthcare professionals and other essential workers, but applies to many other employees who must work in a public setting.

For others, it’s the shift to remote work. In our always-on digital world, creating work-life balance has been a challenge of its own, and now many people are also taking on the role of teacher and daily caregiver. Add the general fatigue they’re feeling and you have the perfect storm for physical and emotional decline.

It’s not surprising that working from home can contribute to a handful of significant mental health challenges. People who live and work alone, for example, can feel isolated, which may contribute to depression and anxiety. On the other end of the spectrum, employees who live in a house full of children, other adults, and pets can battle impatience and anger.

Recent research shows that employees across the globe have been working 2.5 more hours per day on average since the start of the pandemic — and in a survey of 133 U.K. companies, 44% of employees said their workloads have increased since going remote. Another 31% said this change in environment has also had a direct impact on their mental wellbeing.

If not addressed, burnout can have intense consequences on both individual and organizational health. As we continue to pivot, here are some things you can do to better support your employees.

Consider Your Corporate Culture

First and foremost, make sure your approach to talking about burnout aligns with your organizational culture. Companies that reward long hours and unrealistic workloads will have a tougher time communicating about this than those that prioritize balance and safety during these unusual times. Your organization’s culture sets the tone for having successful conversations about stress and fatigue with employees.

Acknowledge That Burnout Exists

Accept that employees in your organization are suffering from burnout. Many people have learned how to camouflage it — whether they’re in the office or working from home — so it’s important that you acknowledge it exists and invite discussion about how to address it.

This is critical to minimizing the negative stigma around burnout. Employees often believe that reporting burnout makes them seem weak; some managers believe that one day of rest can make everything better. These and many other stigmas get in the way of effective conversations around this critical topic. The World Health Organization’s recent decision to redefine burnout as a “syndrome” further proves that it needs to be acknowledged.

Check In On Your Own Mental Wellness

It’s not likely that you will help others if you aren’t healthy. To ensure you’re in a solid place to have conversations about burnout with your team, check in on your own wellbeing first. Doing a quick self-assessment by asking questions like, “Do I find it hard to concentrate?” and “Is stress interfering with my sleep?” or “Do I isolate, or act out in unhealthy ways when I think about work?” From there, you can take steps to minimize stress or get help, if needed.

Learn to Recognize the Signs of Burnout

It can be difficult to recognize burnout in others — especially since it can begin with increased enthusiasm and the compulsion to prove oneself. When employees first take on a new task, such as working remotely, they may feel a surge of creativity and commitment. But if stress isn’t well-managed, people can begin to suffer both mentally and physically.

While not everyone experiences burnout in the same way, there are some common behaviors to watch for:

• Lack of energy: Exhaustion that isn’t cured by rest is perhaps the most obvious sign.

• Frequent illness: Chronic stress can also lead to a number of physical symptoms, including headaches, dizziness, stomach pain, frequent colds, and shortness of breath.

• Irritability: Employees that act unusually impatient or angry towards colleagues may be having trouble coping.

Plan in Advance

Position your conversations about mental wellness and/or burnout to go well by preparing ahead of time — these aren’t conversations to “wing”. Check in with your organization’s legal and HR teams to ensure that the support you’re offering follows protocol. It’s also helpful to get clarity on the available internal and external resources (e.g. Employee Assistance Programs). Taking these steps in advance can prepare you to offer a helpful solution or action plan.

We can’t always control burnout — but we can control how we discuss it with employees. Acknowledging how you and your team feels, making time to check in, and encouraging everyone in the organization to do the same are a few ways to help each other through difficult times. We’re all in this together.

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

When Is the Best Time to Hire?_

By Joe Mullings

One of the most common stressors for companies is knowing when to hire. Many build out hiring plans for the next year in late Q3 or Q4 while they’re deep in budgeting mode, and start hiring in Q1 when bonuses have been paid out vacation time has been used, and top talent is willing to make a move.

But attaching seasonality to the decision can be a major roadblock to finding the best talent for your team — especially if it means waiting until you desperately need to fill a position before starting the process.

Apply a Hum/Sing/Shout Approach

I’ve talked at length about how to implement a hum/sing/shout approach for your branding efforts — but the same framework works for hiring. Here’s how it works:

• Hum: Keep the underlying rhythm of your employer branding at work at all times to ensure that your opportunities remain front of mind for top talent in your industry niche.

• Sing: About 60-90 days out from when you actually need to have your new employee on board, get a little bit louder — not just about the open position, but about what it’s like to work for your company.

• Shout: Within a 45-60 day window it’s time to shout about the position itself and the underlying opportunities associated with joining your company.

How to Build Your Hum

Most likely you already know how to focus your strategy to sing, or even shout, when a specific role is open and a hire needs to happen. But the best people — those you really want to attract to your company — are rarely seeking a new position actively, so no matter how loud you’re singing and shouting, they won’t hear you. Developing a strong hiring brand narrative in the public domain, with a heavy humming chorus, ensures that you’re always “on” from a talent attraction standpoint, and allows you to build recognition among top talent long before there’s a specific role in question.

People follow the brands that they feel they can connect with emotionally and learn from — and there’s a ton you can do in your “hum” phase to position yourself as a value-add in their feeds. For instance, professionals are always curious about topics and trends relevant to their industry or careers. By sharing meaningful insights, they’re likely to stumble upon you and begin following you for your analysis and perspective, without even thinking about a career transition. Then, as you continue sharing helpful and interesting information with them, their trust in your company grows long before you ever connect with them directly.

As you start to build your hum, focus on the four pillars of an effective corporate content strategy:

• Market: Gretzky famously reminded us to “skate where the puck is going.” As people consider the next step in their careers, they want to ensure they’re placing their bets on a market that’s ripe with opportunity — where the trends are heading, not where they’ve already been. Talk about why your space will see success long into the future in order to build their confidence.

• Product: Once you’ve established your market’s value, explain how your specific products or services align with that opportunity. The goal here is to highlight why your organization in particular is an exciting one to join.

• Leadership: You are most influenced by the people you hang around with every day. Candidates know this and are becoming increasingly focused on opportunities where they know they’ll learn from a strong leadership team. Take the time to highlight the expertise at the helm of your brand so that they understand their development opportunities.

• Mission: Your team doesn’t show up every day because of the product or service you provide, but rather because of the underlying problem they care about solving and the opportunities they’re excited to create. Communicate this North Star externally to illustrate to prospective candidates what could be motivating them every day.

By the time you move to the sing and shout portions of your strategy when you have a role to advertise, potential candidates are primed to pay attention. They already have a clear idea of who they can become when they work for your organization. And that’s what people really want: the chance to evolve and be part of something meaningful.

Take Timing Out of It

You should always be looking for talent, not just when you need it. Otherwise, you will only be getting the people who happen to be available during that very specific window — and they may not be the best people for your team.

Applying the hum/sing/shout approach gets you out of the seasonality trend that decades of hiring managers have established. Instead, you develop a bench strength mindset that encourages you to constantly be networking, connecting, and sharing the vision of your organization. By learning how to hum, you can add depth to your existing team and find the best people to grow your organization, regardless of when you hire them.

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

BLS Report: Employment Summary for January 2021_

Total nonfarm payroll employment improved slightly in January as robust gains in professional and business services were offset somewhat by declines in leisure and hospitality and in retail trade sectors. The January job gain of 49,000 was in-line with most analysts’ expectations and represented an improvement over the weak December Bureau of Labor Statistics (BLS) report. Unemployment rate fell by 0.4 percentage point to 6.3% in January or 10.1 million unemployed persons.

The BLS noted the labor market continued to reflect the impact of the coronavirus pandemic and efforts to contain it. However, the data suggests that the impact of the virus might be lessening; the sharp rate of decline in the large leisure and hospitality sector moderated as government mandated restrictions eased during January.

As noted in the Wall Street Journal today many economists expect the economy could benefit from further government stimulus. Congress is considering as much as $1.9 trillion in additional financial aid to help households and businesses. The proposal would bolster unemployment aid, provide funds for vaccine distribution, and send $1,400 checks to many Americans.

“The resiliency of the U.S. labor market and overall economy is reflected in today’s BLS Employment Situation Report. Our clients’ hiring activity in many sectors of the economy demonstrates that same resiliency as talent consultants from our Network of over 300 executive recruitment offices continue to see solid demand for executive and managerial talent across technical and professional roles,” said Bert Miller, President and CEO of MRI. “But, as demonstrated in today’s BLS data, the job recovery remains uneven in the white-collar roles where much of our Network focuses. I urge political leaders to avoid a ‘government knows best’ solution as they design stimulus programs. It is vital to include input from the people driving private sector hiring that will propel the economy to new heights.”

The BLS reported that in January, 23.2 percent of employed persons teleworked because of the coronavirus pandemic, slightly below December rates. These data refer to employed persons who teleworked or worked at home for pay at some point in the last four weeks specifically due to the pandemic.

In assessing today’s BLS report Dan North, senior economist at Euler Hermes North America saw signs of momentum, ‘it may be a few months before warmer weather, less COVID-19, and more consumer confidence before consumers go on a shopping spree which will provide the real stimulus and job creation.”

As reported by the BLS, in January employment in professional and business services rose by 97,000, with temporary help services accounting for most of the gain (+81,000). Job growth also occurred in management and technical consulting services (+16,000), computer systems design and related services (+11,000), and scientific research and development services (+10,000). These gains were partially offset by job losses in services to buildings and dwellings and in advertising and related services.

Employment increased in local government education (+49,000), state government education (+36,000), and private education (+34,000). The BLS noted that in both public and private education, pandemic-related employment declines in 2020 distorted the normal seasonal buildup and layoff patterns. This likely contributed to the job gains in January.

Wholesale trade continued to add jobs in January (+14,000) as did mining with a gain of 9,000 jobs.

As previously noted, employment in leisure and hospitality declined by 61,000, following a steep decline in December (-536,000). In January, employment edged down in amusements, gambling, and recreation (-27,000) and in accommodation (-18,000). Employment in food services and drinking places was down (-19,000).

Retail trade lost 38,000 jobs in January, after adding 135,000 jobs in December.

Employment in healthcare, transportation and warehousing, manufacturing, and construction changed little versus the prior month as did jobs in other major industries, including information, financial activities, and other services.

“A critical need is to prioritize upskilling talent as today’s businesses deal with fundamental changes to the world of work spurred by digital transition. Our most successful clients are investing in their current workforce to make them better performers today. More importantly, they are anticipating the new skills their existing teams will need to thrive in future.

“That same model should apply to governmental stimulus programs. They should encourage every company to invest capital into upskilling their current workforce while providing added help to the most impacted industries like hospitality, travel, and traditional retail as they adjust to a new world of contactless purchasing, off-premises consumption, and automation that adds new value to the consumer experience. Provide the stimulus to the businesses who are at the front line of transformation and let the recovery accelerate,” noted Miller.

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

4 Ways to Update Your Hiring Strategy This Year_

The new World of Work has compelled companies to take a fresh look at the way they do just about everything. And in the course of making necessary adjustments, they’ve come away with insights that will prevail well after the crisis has passed. From how they schedule meetings and manage teams to how they fill open positions and promote their culture, they are adjusting to the demands of the hybrid workforce.

“Remote working on a large scale and the evolving hybrid workplace are uncharted territory for most companies,” says Bert Miller, President and CEO of MRI. “But we are already seeing signs that business leaders are learning from the experience and pivoting in the direction of strategies that will successfully move them forward.”

Miller outlines four ways leaders can optimize their talent attraction and retention strategies for the new World of Work:

Clarify Job Descriptions

Job seekers are looking for security and safety, which often translates into work-from-home opportunities. “When you’re writing a job spec now,” says Miller, “the scope of telecommuting should be clearly outlined. Whether you’re looking for people to fill remote, hybrid, or in-office roles, be clear from the first touchpoint. Communicate expectations for the position and outline what you’re doing to keep your team safe and supported. You’ll build trust in the company and increase the likelihood that strong candidates follow through with the entire recruitment process.”

Update Priority Skill Sets

Recruiters and hiring managers are already closely monitoring the traits in employees that will determine long-term hybrid success — but those key traits are shifting as the World of Work moves increasingly online. “You need people who can communicate well and maintain a team approach even when they’re not able to be together in a communal setting,” explains Miller. Remote working requires discipline and a proactive, self-motivated approach — something all workers don’t necessarily possess. When reviewing candidate resumes, Miller suggests that it can be helpful to determine if candidates have worked remotely in the past, perhaps on interim assignments, and how successful they were in those situations.

Implement Digital Hiring Practices

As companies look to fill open positions, recruiters and hiring managers are turning to digital hiring tools to make the most effective decisions, including programs used to facilitate pre-hire assignments and virtual interviews. “Digital, remote-ready recruitment and candidate screening tools were in use before the pandemic, but now they can help you even more effectively seek out and engage talent,” says Miller. “Properly applied, they can also cut down on time-to-hire and encourage enduring employee satisfaction.” He points out that digital hiring and remote work eliminate geographic restrictions, giving companies access to a larger and more diverse talent pool than ever before.

Identify Reskilling Opportunities

The pandemic has accelerated the need for employees to undergo reskilling in order to meet the demands of our new World of Work. “It’s up to leaders to help their hybrid employees adopt the technologies they need to drive productivity by prioritizing their reskilling efforts,” says Miller. These may include company-wide training sessions on specific tools, individually selected courses, or one-on-one mentoring. There’s an added responsibility for managers to pay close attention to how their people are faring, including from a professional development standpoint, and to anticipate their needs before problems arise.

Flexibility and resilience are paramount in adapting to change. The companies that not only adapt to the new World of Work but also learn from it and improve upon their old ways of doing things are the ones that will survive, prosper, and grow.

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

How to Build a Hybrid Workforce_

By now you’ve seen and heard a lot about the hybrid workforce that is destined to be part of the new World of Work for the foreseeable future. As we get closer to a vaccine and the end of the pandemic, it’s unlikely that you will go back entirely to the old way of doing things altogether. So what should you be doing to facilitate the safe transition to a hybrid workforce in your organization? Although the prospect offers many advantages, it also comes with complications and difficulties that you should be preparing for now.

“The first thing to remember is that while some of your people love working remotely and want to continue with it, there are many others who truly miss the social aspects of working in a shared office space alongside their team members,” says Nancy Halverson, SVP Global Operations at MRI. “Shifting to a hybrid structure can help you to accommodate both groups.”

Halverson offers advice on navigating the transition with the least amount of disruption:

Start with your leadership team. Will they work from the office, remotely, or both? “I believe that most organizations will find it most beneficial to have their leaders work in the office at least part of the time,” says Halverson. “Before you announce the decision to move to a hybrid solution, work out the plan for your management team and communicate it to the people who work for them to avoid confusion.”

Reevaluate your team structure. “In many cases, it’s obvious that certain departments and positions have to be on-site, but you’ve probably already figured out ways to handle those safely,” observes Halverson. “For the rest, you need to determine which employees will continue working remotely full-time and which employees will work partly remotely and partly from the office.”

While these decisions are also driven by the nature of the individual role, it is also advisable to factor in personal preferences whenever possible. “Another possibility to consider is that people will change their minds,” says Halverson. “Some members of your team may ask to continue to work remotely and then find that they want to come back into the office part of the time. Determine how strictly you need employees to follow a specific working style, and communicate this in advance. For instance, will your physical space allow for flexibility, or have you downsized recently and do you need employees to commit to a specific schedule?”

Confirm your communication platforms. The pandemic has already forced most companies to beef up digital communication and enhance their collaboration tools. Going to a hybrid workforce means that technology will continue to evolve to meet employee and employer needs. Determine how your communication frameworks need to change to reflect your new team structures and to ensure employees don’t fall out of the loop or burn out from the pressure of being “always on.”

Your IT folks will also need an infrastructure that enables them to manage a remote workforce. This can include increasing cloud storage for more remote storage, enhancing security solutions to manage cyber threats, and implementing remote IT solutions to troubleshoot employee tech issues remotely.

Monitor your allocation of tasks. If your hybrid workforce is going to remain productive long-term, you have to ensure that tasks are spread evenly and fairly across both in-office and remote teams. “Particularly if managers are working from the office, there’s a tendency to assign new projects to people working in the same space,” warns Halverson. “So be conscious of this potential pitfall and be aware of who is doing what at any given time. The boundaries between personal and professional life are fuzzy now and you need to consistently conduct regular employee-manager check-ins, recognize employees for their hard work, and promote paid time off.”

Be wary of favoritism. Not only can a hybrid workforce lead to imbalance workloads, it can also lend itself to favoritism. “As a manager, it’s your responsibility to proactively include your remote team members in the fun times as well,” says Halverson. “Set up a video conference for your team lunches or happy hours to ensure you have the same opportunity to bond with everyone and that remote workers still feel like part of the culture.”

The pandemic has abruptly thrust many companies into this hybrid situation, and while some have seen this time as a growth opportunity, others floundering. Those companies that can adapt to the current circumstances with resiliency and flexibility are most like to outstrip their competition in our new World of Work.

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

Employment Situation Report - for November 2020

The U.S. economy added 245,000 non-farm jobs in November, below the 410,000-job growth forecast by economists. The unemployment rate edged down to 6.7 percent. While November is the seventh consecutive month of both job growth and unemployment rate improvement, the pace of that improvement has moderated reflecting the ongoing coronavirus and efforts to contain it.

However, as noted by Wall Street Journal reporter Sarah Chaney Jones, current vaccine rollout plans will be a factor in future job growth, “The labor-market recovery from the pandemic’s job destruction this spring has been stronger than most economists forecast. Many expect widespread vaccine distribution to eventually help lift the economy as businesses are allowed to reopen and consumers feel more comfortable traveling, going to the movies and returning to other in-person activities involving proximity to other people.”

The Bureau of Labor Statistics (BLS) reported in November, notable job gains occurred in transportation and warehousing, professional and business services, and healthcare. Employment declined in government and retail trade.

“With this month’s BLS Employment Situation report, the economy is once again reflecting a broad-based underlying optimism bolstered by recent COVID-19 vaccine announcements,” said Bert Miller, president and CEO of MRI. “Members of our Network of over 300 executive recruitment offices sense a building momentum particularly in sectors like healthcare, construction, financial services, and professional services as client firms intensify their search efforts for the top executive, technical, professional, and managerial talent who will lead the evolution of their business models into 2021.”

The BLS reported in November, 21.8 percent of employed persons teleworked because of the coronavirus pandemic, up from 21.2 percent in October. These data refer to employed persons who teleworked or worked at home for pay at some point in the last four weeks specifically because of the pandemic.

Commenting on the November report, Sameer Samana, senior global market strategist at The Wells Fargo Investment Institute noted, “While disappointing, this news should be somewhat offset by the increasing odds of another fiscal stimulus package, and a Fed that stands ready and willing to do more to help the economy.”

Looking to future months, David Berson, chief economist at Nationwide Mutual Insurance Co. provided an additional optimistic outlook, “As infection rates go down, as the number of people vaccinated goes up, then we’ll start to see ... business activity expand at a faster rate, and we will see the employment numbers pick up more strongly.”

As reported by the BLS, employment in transportation and warehousing rose by 145,000 in November. Employment rose by 82,000 in couriers and messengers and by 37,000 in warehousing and storage; since February, employment in these industries has increased by 182,000 and 97,000, respectively. Job growth also occurred over the month in truck transportation (+13,000).

In November, employment in professional and business services increased by 60,000, with about half the gain occurring in temporary help services (+32,000). Job growth also occurred in services to buildings and dwellings (+14,000).

Healthcare added 46,000 jobs in November, with gains occurring in offices of physicians (+21,000), home healthcare services (+13,000), and offices of other health practitioners (+8,000). Nursing care facilities continued to lose jobs (-12,000). Overall, there are 527,000 fewer healthcare jobs than February.

Construction gained 27,000 jobs in November. Employment rose in residential specialty trade contractors (+14,000) and in heavy and civil engineering construction (+10,000).

In November, manufacturing employment increased by 27,000. Job gains occurred in motor vehicles and parts (+15,000) and in plastics and rubber products (+5,000).

Financial activities added 15,000 jobs in November. Gains occurred in real estate (+10,000) and in nondepository credit intermediation (+8,000). Financial activities have added 164,000 jobs over the past 7 months, but employment in the industry is 115,000 lower than in February.

Employment in wholesale trade continued to trend up in November (+10,000). Government employment declined for the third consecutive month, decreasing by 99,000 in November.

Employment in leisure and hospitality changed little in November (+31,000) but is down by 3.4 million since February. Arts, entertainment, and recreation added 43,000 jobs in November, while employment in food services and drinking places changed little (-17,000). Employment in other major industries, including mining, information, and other services, also showed little change in November.

“Our Network members are continuing to see client organizations invest boldly in growth, as they work to avoid the dangers of recency bias. We are helping our clients ensure they don’t over-index on the most recent global events to guide their decisions, but instead remain committed to objectively evaluating the full picture and focusing on what has historically driven economic vitality: great talent,” said Miller.

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

STAR Report: Conducting Performance Reviews When Your Team is Remote_

Workplace dynamics have changed drastically over the last few months. From minimal personal interaction to increased reliance on communication technology, the word “office” has taken on a whole new meaning. As the year-end approaches, this leaves many companies wondering about the best way to conduct performance reviews. How can you evaluate your remote employees accurately, deliver clear feedback, and foster trust?

“The first thing to consider is that you have to evaluate your people based on their output, not their working schedule,” says Nancy Halverson, SVP Global Operations at MRI. “When employees are working remotely, you need to know that you can count on them to complete tasks on time and to be available when they’re needed. Use the performance review to determine if those who consistently fall behind with their workloads need a different arrangement, better technology, or more guidance.”

Halverson’s suggestions for making sure performance reviews are effective and beneficial include using some of the traditional elements of the review process, removing factors that you can’t measure for remote workers, and adding others that this kind of work environment creates. “Recognize and prioritize qualities that are more relevant in a virtual setting, such as teamwork and communication,” she says. “Focusing on these skill sets also helps make individual contributors more successful in a remote environment.” She advises managers conducting remote reviews to follow these three steps.

Give advanced notice about when reviews will take place. Your team needs time to prepare for a private and professional exchange while working from home, particularly now that so many people are juggling childcare and homeschooling with their jobs. Halverson recommends scheduling at least one hour for the performance review conversation and letting employees know that reviews will be the dedicated focus of the meeting. If you don’t have easy access to tools that support video, make arrangements to speak with one another via FaceTime to ensure you aren’t sacrificing the value of a face-to-face conversation.

Discuss changed priorities openly and honestly. Business priorities may have shifted during the pandemic, and employees might be worried about job security. Dedicate time in the performance review to discuss how they can remain valuable contributors moving forward. Clearly outline duties that may evolve or change in the coming months so they clearly understand where to focus their efforts and can evolve with the business appropriately.

Create a plan to support your employees from a distance. Although evidence suggests that remote workers are as, if not more, productive than those who work in a physical office, those statistics are typically based on employees who have chosen to work remotely. Employees thrust into remote working may not feel connected to company culture or to their coworkers. Their work arrangements can be isolating, and often require a level of self-direction, motivation, and discipline that isn’t intuitive for everyone. “Be sure to discuss how your employees can still collaborate with you and their coworkers in this new World of Work,” says Halverson. “How much coaching, guidance, and support do they need from you while working from home? Do they understand their priorities and goals, and feel confident that they have the tools and skills to achieve them?”

Every employee has a different work style and varying needs when it comes to succeeding remotely. Thoughtful evaluations help employees identify opportunities for professional growth and reinforce the importance of their contributions, which can greatly impact their satisfaction and commitment. “Use this time to get to know what your employees enjoy doing, where they feel capable and where they are struggling,” concludes Halverson. “Agree on a plan that will fuel professional success moving forward, and assure your people that their mental, emotional, and physical health is as important to you as their performance right now.”

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

BLS: Employment Summary for October 2020

The U.S. economy added 638,000 non-farm jobs in October, above the 530,000-job growth expected by economists. The unemployment rate declined to 6.6 percent. October is the sixth consecutive month of both job growth and unemployment rate improvement. The Bureau of Labor Statistics (BLS) reported notable job gains in leisure and hospitality, professional and business services, retail trade and construction, while employment in government declined. Private-sector employers added 906,000 jobs, a pickup from September, offsetting a drop of 268,000 jobs in the public sector.

“As we await final presidential election results, the job growth reported from the Bureau of Labor Statistics this morning clearly demonstrates the underlying vitality of the hiring environment,” said Bert Miller, president and CEO of MRINetwork. “While 2020 continues to provide an unprecedented series of crises and challenges, we are seeing steady signs of optimism in economic growth. The attitude of our Network of over 300 executive recruitment offices can be characterized as “prudently bold.” We continue to invest in our business to meet demand for top talent across many of our industry sectors, including pharmaceutical, business services — specifically PR and marketing, software design and development, and construction — notably, building products and supplies as well as special trade construction.”

The BLS reported total nonfarm payroll employment rose by 638,000 and the unemployment rate declined to 6.9 percent. Notably the labor force participation rate increased by 0.3 percentage point to 61.7 percent in October, now only 1.7 percentage points below the February pre-Covid level.

Commenting on the October report, Bloomberg’s Market Reporter Kriti Gupta offers possible investor reaction to the positive news, “Here’s one way for the market to be able to read this report: Perhaps better payrolls data means less urgency for another round of stimulus. But remember, sometimes narrative is built around price swings as opposed to the other way around. So take the market reactions in the coming hours with a tub of salt.”

While recognizing the short-term impact of a virus spike many analysts see a solid rationale for optimism. “It’s hard to look at months or weeks past because you know what’s lying ahead and that’s an increase in virus cases. That continues to be the dark cloud looming ahead,” Jennifer Lee, senior economist at BMO Capital Markets, told Bloomberg. “But the fact that the jobless rate took such a big decline, that’s extremely encouraging.”

In October, 21.2 percent of employed persons teleworked because of the pandemic, down from 22.7 percent in September, reflecting an ongoing process as employers open places of work as commuting restrictions ease.

According to the BLS, these improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the pandemic and efforts to contain it.

As reported by the BLS, employment in leisure and hospitality increased by 271,000 in October, with gains in food services and drinking places (+192,000); arts, entertainment, and recreation (+44,000); and accommodation (+34,000).

Professional and business services added 208,000 jobs in October, with temporary help services (+109,000) accounting for about half of the gain. Employment also increased in services to buildings and dwellings (+19,000), computer systems design and related services (+16,000), and management and technical consulting services (+15,000). Employment in professional and business services is 1.1 million below its February level.

In October, retail trade added 104,000 jobs, with almost one-third of the gain in electronics and appliance stores (+31,000). Employment also rose in motor vehicle and parts dealers (+23,000), furniture and home furnishings stores (+14,000), clothing and clothing accessories stores (+13,000), general merchandise stores (+10,000), and non-store retailers (+9,000). Employment in retail trade has risen by 1.9 million since April.

Construction added 84,000 jobs in October. Specialty trade contractors added jobs, both in the nonresidential (+28,000) and residential (+18,000) components. Employment also rose in heavy and civil engineering construction and in construction of buildings (+19,000 each). Construction has added 789,000 jobs in the last 6 months, now down by 294,000 since February.

Employment in healthcare and social assistance rose by 79,000 in October. Healthcare employment increased by 58,000, with the largest gains occurring in hospitals (+16,000), offices of physicians (+14,000), offices of dentists (+11,000), and outpatient care centers (+10,000). These increases were partially offset by a decline of 9,000 in nursing and residential care facilities. Social assistance added 21,000 jobs over the month.

Employment in transportation and warehousing increased by 63,000 in October, with gains occurring in warehousing and storage (+28,000), transit and ground passenger transportation (+25,000), and truck transportation (+10,000). By contrast, air transportation shed 18,000 jobs.

The BLS reported gains in employment in financial activities and manufacturing but at lower levels of increase versus September.

In October, government employment fell by 268,000. A decrease of 138,000 in federal government was driven by a loss of 147,000 temporary 2020 Census workers. Job losses also occurred in local government education and state government education (-98,000 and -61,000, respectively).

“We continue to remain focused on meeting client demand for top talent equipped with relentless work ethic, and capable of resilient management decision making and the ability to lead change in evolving business models,” said Miller.

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

Manage the Work, Not the People_

As millions of Americans now work remotely, managers unaccustomed to supervising employees from afar face new challenges in leading and evaluating their team’s performance. Traditional management styles prior to this new World of Work emphasized the need to manage employees effectively to get the best results. Today, however, the emphasis has shifted to managing the work rather than the people in order to get the best results from a remote workforce.

“The key to this approach is to leave people alone and let them work,” says Nancy Halverson, Senior VP of Global Operations at MRINetwork. “Tell your team about the big vision and ask how it might be accomplished. This brings your remote team closer together and encourages additional interaction. Then let them go do it. The most important metric to consider is results.”

Halverson offers the following advice on successfully managing for productivity:

Focus on the endpoint. “It’s critical that you set clear expectations and focus on the results you want as opposed to managing the process that gets you there,” she says. “Get rid of time-suckers and distractions like long meetings and unnecessary updates. Make sure that everyone knows exactly what’s expected of them. Trying to manage remote workers as if they were still together in the office is counterproductive.”

Provide employees with the best equipment and tools. This allows them to do their best work from anywhere. "That includes providing high-quality monitors and headphones and ensuring meetings are set up for participation regardless of location," says Halverson. “If you have people who continue to come into the office, they need places to conduct video-conferencing that ensure the best experience for virtual attendees."

Schedule regular check-ins. Once you’ve set clear expectations for work assignments, it's important to regularly touch base with remote workers to make sure they have the resources they need and are on target to hit their goals. “Don’t micromanage them or give the impression that you are constantly monitoring them to see if they’re working,” says Halverson. “You’ll know from the results they produce how they’re doing. And always encourage them to bring up challenges or problems they’re having before they become insurmountable.”

Introduce redundancy. Halverson believes that the current situation is an opportunity for employers to upskill their workforces. “You may have had to furlough people, and now you need to figure out who’s going to pick up the slack,” she says. “You may be surprised at how willing your team is to take on new roles or to train for new skills. Problem solving on this level changes the relationship you have with your employees. You become partners committed to the same goals.”

“What’s basic here is trust between employer and employee,” says Halverson. “Even in a traditional workplace there’s no way to completely prevent the misuse of time. But, as shown by productivity gains, most people do what’s expected of them – and more. Believe in your people and let them share in the responsibility for moving your company forward, whether they’re at the office or at home.”

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