Macro Employment Trends FALL 2016 - Game Plan€¦ · Macro Employment Trends Most Desired...

Who is Hiring and When

Macro Employment Trends

Most Desired Candidate Qualities

Student-Athlete Career Outlook Report

FALL

2016

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Source: National Association of Colleges and Employers 2016 Job Outlook Report; Linkedin 2015 Recruiting Trends Report; SHRM 2016 Human Capital Report

Employment Trends for Recent Graduates

29.6% had a job upon graduating 29.6%

Job in Han

d

• 29.6 percent of surveyed 2016 college graduates had a job in hand upon graduating.

• 46.2 percent of graduates who were offered a full-time position accepted the job offer.

• Most students who applied for jobs received one or two offers (one: 62.6 percent; two: 27 percent).

• Six months after graduation, 82 percent of the class of 2015 were doing something—whether that means working full or part-time (64 percent) or going back to school (18 percent).

• More than 16 percent were still looking for work or had given up looking, while just over half of the graduating class were employed in standard, full-time positions.

46.2%

Accepted Job

Offer

17.7% Continuing Education 16.1% Still Seeking/

Not Seeking

54.1% Employed Full Time Standard Job

1.8% Service/Military

10.3% Employed Other

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65.4% completed an internship, apprenticeship or co-op

• Currently, the average offer rate to interns is 72.7 percent, the highest it has been since the peak of the pre-recession market. The current average acceptance rate is 85.2 percent, which is above pre-recession levels. The overall conversion rate is 61.9 percent—that is a 13-year high.

• Among responding employers, converting students who have taken part in an internship or co-op program into full-time employees is a primary goal for most programs.

• Nearly two-thirds of responding students (65.4 percent) said they partic-ipated in an internship, co-op, or both—60.8 percent of those interships were paid.

Employment Trends for Recent Graduates - continued

72.7% of interns were offered a full-time position

• Employers plan to hire 11 percent more college graduates in 2016 than last year.

• Employers in the Northeast, Southeast, and Midwest regions of the U.S. plan to increase hiring by 14.9 percent, 9.9 percent, and 8.9 percent, re-spectiveley, while employers in the Western region plan to decrease hiring by 3.9%.

incr

ease

hiri

ng

by

11%

-6

-3

0

3

6

9

12

15%

NORTHEAST

14.9%

9.9%

8.4%

-3.9%

SOUTHEAST

MIDWEST

WEST

Employers plan to hire

11% more graduates

Offer Rate: percentage of interns offered a full-time position upon completing an internship.

Conversion Rate: percentage of interns who are offered and accept a full-time position upon completing an internship.

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• The average salary increase amount is up 4.9 percent in 2016 compared to last year. 61 percent of employers plan to increase salaries.

• Overall, students who had accepted an offer had a median starting salary expectation of $49,759—and their actual median starting salary was 1 per-cent higher at $50,240.

• 51.8 percent of employers plan to offer signing bonuses in 2016.

• Average signing bonus for accounting, business, and computer science are projected to be $2,929, $3,100, and $6,357, respectively.

• For recent graduates, the unemployment rate is currently 5.6 percent (compared with 5.5 percent in 2007), and the underemployment rate is 12.6 percent (compared with 9.6 percent in 2007).

Employment Trends for Recent Graduates - continued

51.8% plan to offer sign-ing bonuses

to incr ease

sal

arie

s

61%

12.6% Underemployed

5.6% Unemployed

12.6% of recent grads are under-employed

Unemployment Rate: jobless workers who report that they are actively seeking work (does not include those who have stopped looking for work alltogether).

Underemployment-Rate: in-cludes unemployed individuals in addition to those who work part time but want full-time work (“involuntary” part-timers), and those who want a job and have looked for work in the last year but have given up actively seek-ing work in the last four weeks.

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Hiring & Recruiting Trends

• This year’s respondents plan to conduct an average of 71 percent of their college recruiting in the fall, with the remaining 29 percent in the spring.

• Last year, employers attended an average of 31 career fairs during the recruiting season.

• 51.8 percent of employers plan to “use more technology in general” to recruit talent.

• Job postings on campus and company websites were the most widely used technical applications; they were also deemed most effective.

• The top four Bachelor’s degrees by demand (indicated by the percent-age of employers who plan to hire graduates with a specific degree) are: Business, 75.6; Engineering, 68.8; Computer & Information Sciences, 58.9; Math & Sciences 27.8.

• The top four Bachelor’s Majors by demand (indicated by the percent-age of employers who plan to hire graduates with a specific major) are: Accounting, 54.4; Computer Science, 53.9; Finance, 50.6; Business Admin-istration/ Mgmt., 47.8.

FALL 71%

SPRING 29%

51.8%plan to use more technology

71% of recruiting occurs in the fall

0 10 20 30 40 50 60 70 80%

BUSINESS

ENGINEERING

COMPUTER SCIENCE

MATH & SCIENCES

0 10 20 30 40 50 60%

ACCOUNTING

COMPUTER SCIENCE

FINANCE

BUSINESS ADMINISTRATION/MGMT.

MECHANICAL ENGINEERING

INFORMATION SCIENCES/SYSTEMS

MANAGEMENT INFO SYSTEMS

ELECTRICAL ENGINEERING

LOGISTICS/SUPPLY CHAIN

ECONOMICS

MARKETING

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Hiring & Recruiting Trends - continued

• The information, construction, and retail trade industries reported the larg-est increases in projected hiring (72 percent, 44 percent, and 35 percent, respectively).

• 74 percent of employers said online job boards represented the highest quantity hires.

• Enterprise Rent-A-Car, Ernst & Young, Progressive, and Hertz were among the top employers of recent graduates for full-time positions.

• Ernst & Young, PwC, KPMG, and General Electric were among those em-ployers who offered the largest number of interships to college students.

74% said online job boards repre-sented the highest quantity of hires

0 1000 2000 3000 4000 5000

ERNST & YOUNG

PwC

KPMG

GENERAL ELECTRIC

DELOITTE

ENTERPRISE RENT-A-CAR

INTEL

AMAZON.COM

LOCKHEED MARTIN

MICROSOFT

0 2000 4000 6000 8000 10000

ENTERPRISE RENT-A-CAR

ERNST & YOUNG

PROGRESSIVE

HERTZ

PwC

KPMG

DELOITTE

FBI

BANK OF AMERICA

0 10 20 30 40 50 60 70 80%

INFORMATION

RETAIL TRADE

CONSTRUCTION

74% of recruiters find most of their hires online

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• The average cost-per-hire has risen to $4,129 in 2016—nearly 20% higher than the cost-per-hire in 2013 ($3,479).

• 75 percent of global talent acquisition leaders say their employer brand has a significant impact on their ability to hire great talent.

• The average employee tenure is eight years, the annual turnover rate is 19 percent and the involuntary turnover rate is 8 percent.

• The average time-to-fill for positions in 2016 accross all industries (and all age groups) in the U.S. is 42 days.

• For recent graduates, the average time between when a job is posted and the first interview is conducted is 38.7 days.

3000

4000

$5000

COST-PER-HIRE

20162013

$3,479

$4,129 75% say their employer brand impacts their ability to attract and hire great talent

DAYS

38.7from job posting to interview for recent

graduates

The average cost-per-hire has risen almost

20%

Cost-Per-Hire: a ratio of the total dollars expended (in both external and internal costs) to the total number of hires in a specified time period.

Employer Branding: the process of promoting a company, or an organization, as the employer of choice to a desired target group—one which a company needs and wants to recruit and retain.

Time-To-Fill: a measurement of how long it takes an organization to fill a position once the open-ing has been approved.

DAYS

42average time-to-fill

for all U.S. jobs

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What Employers are Looking For

• Employers cite ability to verbally communicate with persons inside and outside the organization and ability to work in a team structure as the most important candidate skills.

• Two skills employers look for most on resumes are Leadership (80.1 per-cent) and Ability to work in a team (78.9 percent).

• The number of employers who prefer to hire candidates with relevant work experience decreased from 72.5 percent (2015) to 64.2 percent (2016).

• 69.3 percent of employers screen GPAs—of those employers, 70 percent plan to screen by GPA use a cutoff of 3.0.

0 20 40 60 80 100%

LEADERSHIP

ABILITY TO WORK IN TEAMS

COMMUNICATION SKILLS (WRITTEN)

PROBLEM-SOLVING SKILLS

COMMUNICATION SKILLS (VERBAL)

STRONG WORK ETHIC

0

10

20

30

40

50

60

70

80%

2015 2016

72.5%

64.2%

69.3%

Plan to Screen G

PA

s

4.03.0 GPA0.0

70% plan to cutoff at

Leadership is the

#1 skill employers look for on a resume

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• Nearly all job-seeking students (98.2 percent) said they use employer websites in their job search, and employer websites were rated as the most effective resource, with 80.4 percent of students rating them as very or extremely effective.

• 82 percent of upcoming graduates expect to earn more than $25,000 a year.

• Career fairs are also popular among job-seeking students; 88.4 percent said they attended career/job fairs, and 62.1 percent rated them as either very or extremely effective.

• Students have become increasingly disposed toward seeking help from alumni, with more than 69 percent identifying alumni as a resource, and more than 59 percent identifying alumni as a very or extremely effective resource.

• In terms of the types of information they seek through job-search sites, current job openings and salary/compensation information top their list.

98.2% said they use employer web-sites in their job search

82% expect to earn more

than $25,000 a year

98.2% of graduates look employers up online during their job search

88.4

%

Atte

nded Career Fairs

62.

1% R

ated Them as Very

Use

ful

59

% V

iew Them as Useful R

eso

urces

69%

Sought Help From

Alu

mni

Macro Employment Trends FALL 2016 - Game Plan€¦ · Macro Employment Trends Most Desired...

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