QUICK & EASY TIPS FOR SUPPLY & DEMAND

Transcription

1 QUICK & EASY TIPS FOR SUPPLY & DEMAND HOW CAN I SEE RESULTS FOR MULTIPLE LOCATIONS AT ONE TIME? You can now create regions in the Supply & Demand Portal and view Hiring Indicator results for multiple areas at one time. STEP 1: Enter the position keyword or ONET and state to begin your Supply & Demand search. Hint: You can conduct a nationwide search by leaving the location field blank. STEP 2: Once the Supply & Demand report populates, go to the State or MSA filter on the left hand side of the portal. If you need to expand the State filter, click on the triangle to the left. If you do not see the state you want to add, type the name into the text field below the states currently listed. STEP 3: Once you have selected the states you want to include in your region, view the data by selecting the Hiring Indicator tab.

2 STEP 4: View the Hiring Indicator map and table to compare markets and determine the best areas to recruit candidates. The Hiring Indicator provides the top 10 cities within your selected regions where there is a higher concentration of the candidates you are looking for. Don t see the city you are looking for? You can now manually add additional cities that did not return in the original Hiring Indicator results. CONTACT US For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

3 Quick & Easy Tips for Supply & Demand HOW CAN I EDUCATE THE HIRING MANAGER ON THE DIFFICULTY TO RECRUIT FOR A POSITION? As a recruiter, it s important to set proper expectations for the hiring manager with whom you are working. To do this, review three pieces of information on the supply of candidates for the position experience level, industry background and compensation when meeting with your hiring manager. step 1: The Supply & Demand Portal can highlight three important pieces of the current labor supply: the number of active candidates available, their backgrounds, and the volume of companies that are also competing for the same type of candidate. Let s say, for example, you are looking for a Registered Nurse in the Greater Chicago Area. step 2: Today, as the Supply & Demand Portal shows, there are over 2,000 candidates actively looking for jobs in the Greater Chicago Area. Using a scale of 1 to 100, the Hiring Indicator furthermore shows the difficulty level of hiring a Registered Nurse in the Greater Chicago Area. As you can see, this role is tougher to recruit for than 50 percent of all other positions. step 3: If we look at the characteristics of the Supply out there today, the Experience tab will help us understand where the majority of active candidates are in their careers. If you re looking for a candidate with more than 10 years of experience, you are removing almost half of the potential candidate pool. Sharing this information with your client can help set more realistic expectations on the time it might take to fill the position.

4 step 4: Let s look at the Profile of Candidates Looking for a Job and where those candidates work today. The top employers can show the industries in which the candidates have experience. If your industry is not among the top 10 employers, an industry-experienced candidate will be more difficult to recruit as well. step 5: Finally, let s look at what your ideal candidate earns. The following Compensation Report indicates that, if you want a candidate with more than 10 years of experience, you should be ready to offer $85,000 or above, the standard industry going rate. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

5 Quick & Easy Tips for Supply & Demand WHAT IS THE TREND IN THE LABOR MARKET FOR HARD TO FILL POSITIONS? Looking at the trends of the labor market for a hard-to-fill position can help you make decisions on workforce planning, relocation and compensation. One of the top positions in today s IT market is a Java Developer. If we look at the position without a specific city, it gives a nationwide look at the position s trends. step 1: Run a search for Java Developer to see how many people in a certain location are hiring for this position. In this instance, let s leave Location blank to get a nationwide look at the trend. step 2: From the Overview page, you will learn that in the last two years, there have been only 15 Java Developers actively looking for a job for every 100 companies that have an open position (5450 divided by 80,143). This imbalance gives potential candidates a huge amount of leverage in their job search. step 3: From the Demand tab, we can see how likely it is to grow in the future and the top states it will be growing in: Virginia, Illinois, and North Carolina are already seeing the highest percentage of growth in demand.

6 step 4: From the Supply tab, on the flip side, we see that Ohio, Florida, and New York have the seen the highest percentage of growth in supply for these professionals. step 5: Taking these two factors - supply trends and demand trends - leads to a third piece. What are these candidates making by location? Let s switch over to the Compensation Report. step 6: Now that we ve seen the areas with the greatest supply and those with the greatest demand, let s look at a third piece: What are the going compensation rates in these Locations? Salary will gain pressure in areas of demand, so the compensation of the candidates for which you re looking can help determine the areas where you should focus your recruiting efforts. Compensation data for unique locations can also be used to build the case for co-location or a home office. If this is not an option, use the data to support a compensation adjustment if it s not in line with current market trends. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

7 Quick & Easy Tips for Supply & Demand What are the best places to post jobs? Use the Supply & Demand Portal to take the guesswork out of recruiting. step 1: The Supply & Demand Portal is the fastest way to understand the labor market you face when recruiting for any position in any state, region or metro area. Let s say you are looking for a Registered Nurse in the Greater Chicago Area. step 2: At first glance from the Overview tab, you can see a Registered Nurse has had over 5,000 opportunities to choose from in the Greater Chicago Area. step 3: The Hiring Indicator tab in the portal will show you Easier Areas to Recruit Registered Nurses along with the average compensation and job application rates for Registered Nurses in those areas. These markets are great places to cross-post and get the most exposure to active job seekers.

8 step 4: If you click on the Supply tab, you ll also be able to see where the available candidates work, where they went to college and the level of experience they have in the field. This data will enable you to be more proactive in your resume searches, campaigns and direct contact with potential candidates. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

9 Quick & Easy Tips for Supply & Demand HOW CAN I MAKE A CASE TO OFFER RELOCATION OR CO-LOCA- TION/REMOTE HOME OFFICE? As an HR Leader, you are often caught between what the hiring manager wants and what you can actually provide, given the current labor market. Supply & Demand Portal data can arm you with the information you need to create a business case for change whether that change requires relocating talent from other markets or hiring remote employees. Follow these steps to better inform your internal customers. step 1: Let s say that you are recruiting for multiple Software Engineer positions in Salt Lake City, UT. You can access information on how difficult it is to recruit, the demand trends, and other locations nearby that have a higher amount of candidates. Let s start by entering the job type and location. step 2: From the Overview page, you can get a quick understanding of just how tight the labor market is. Using a scale of 1 to 100, the Hiring Indicator shows the difficulty level of hiring a Software Engineer in Salt Lake City. As you can see, this role is tougher to recruit for than for 89 percent of all other positions. Additionally, these numbers represent the amount of active Software Engineering candidates in contrast to the number of job opportunities available during the last two years. This means that for every candidate, there are roughly 51 job opportunities available. step 3: You can drill into this information further on the Demand tab. Click to View the Full Report. This trend line shows that demand for these professionals has greatly increased in this market over the last year. Needless to say, there is some fierce competition in Salt Lake City.

10 step 4: If you needed candidates yesterday, this information backs up what your gut tells you by giving you a snapshot into the labor market in real time. All that is left to do to find out where else the country you can actively start sourcing today. By using the Hiring Indicator tab, you can see which states and markets have higher pockets of Software Engineers with less demand so you can adjust your strategy quickly and start sourcing candidates from these areas today. Review the Market Comparison for Top Candidate Areas. Even though the trend indicates that Software Engineers are getting more difficult to recruit, there are still more active candidates per job opportunity in the Dallas Texas and Houston Texas areas than in other markets. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

11 QUICK & EASY TIPS FOR SUPPLY & DEMAND MAXIMIZE YOUR SOURCED CANDIDATES WITH OPTIMIZED SEARCH CRITERIA TIP: The Supply & Demand Portal gives you information about the job titles candidates are using in their job search. Find more of the right candidates by using alternative job titles that attract candidates with the skills and experience you need. EXAMPLE: There is an immediate need for a sourcing manager in Chicago. Type the position title and location into the Supply & Demand search field to find additional job titles with similar qualifications. QUESTION: How can I enhance my Resume Database search to maximize the number of résumés included in results? ANSWER: Review the What are their most recent job titles chart on the Overview tab. Use these additional relevant keywords in your Resume Database search to capture more résumés that are relevant to your search. i.e., add Sourcing, Purchasing, Procurement and Materials to your search string.

12 UPDATED RESULTS IN SUPPLY & DEMAND Initial search generates more than 2,000 active candidates. Enhanced search generates over 8,000 active candidates. QUESTION: How can I increase the number of job seekers who view and apply to my job postings? ANSWER: Review the Top Job Titles in Job Postings chart on the Demand tab. This will show you which titles other companies are using in their job advertisements. Review the What are their most recent job titles chart on the Overview tab. This chart shows you relevant candidates most recent job titles. Quick tip: Job seekers are more likely to search for jobs using their current job title. Update your job descriptions using the keywords on both of these tables to increase the number of relevant job search results your advertisements appear in on CareerBuilder. CONTACT US For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

13 Quick & Easy Tips for Supply & Demand Partner with Your Hiring Manager to Reduce Time to Fill Difficult Positions TIP: Did you know the Supply & Demand Portal can help you set job expectations with hiring managers? The portal helps you gauge the level of difficulty for filling jobs within specific markets, enabling you to work with hiring managers to set realistic timelines. example: There is an immediate need for a Java Developer in Dallas, Texas. Type the position title and location into the Supply & Demand search field, and the Hiring Indicator shows how difficult (based on a scale of 1-100) that job will be to fill. QUESTION: How can I motivate the hiring manager to respond faster when I submit a qualified candidate? ANSWER: Show the hiring manager the overview snapshot of this position within the market and point the Hiring Indicator. Explain that only 23 percent of other positions and locations are more difficult to fill than a Java Developer in Dallas, Texas. Stress that since these candidates have several options for employment, your best course of action is to get them through the hiring process as quickly as possible. Ask the manager to commit to a timeframe for responding to the candidates you re sending him or her. DATA SOLUTIONS: SUPPLY & DEMAND PORTAL

14 QUESTION: How can I educate the hiring manger on the impact of his or her requirements for the position specifically experience and education requirements? ANSWER: Show the hiring manager the How many years experience chart (which you can find by going to: Supply & Demand Homepage Supply Tab Profile of Candidates Looking for a Job Education Tab How Many Years Experience Chart) For example, when looking at java developers in Dallas, Texax, a requirement of 5 years or less eliminates 78 percent of active candidates. Show the hiring manager what happens to the supply of candidates by adjusting the Education level and Years of Experience required under the Supply Filters (located on the left side of the Supply & Demand Portal). In this instance, a requirement of 5 years or less and a bachelor s degree and above eliminates more than 3,500 potential candidates. INITIAL SUPPLY SUPPLY WITH FILTERS APPLIED Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com. DATA SOLUTIONS: SUPPLY & DEMAND PORTAL

15 Quick & Easy Tips for Supply & Demand HOW CAN I JUSTIFY HIGHER RATES? Those in Business Development roles know that negotiating with your customers can be difficult; therefore, you want to come to the table prepared. Supply & Demand data can give you a unique advantage in this situation. step 1: Let s say that you re preparing for a meeting with a client in Atlanta who needs to hire multiple.net Developers over the next three months. You can show up to the meeting armed and ready with the information you need to defend and rationalize your rates. Start out by indicating the job type. step 2: There are a few key figures you can use to both educate the customer and set realistic expectations for the engagement. You can get a quick understanding of just how tight the labor market is by looking at the Hiring Indicator on the Overview page. On a scale of 1 to 100, this tool measures the difficulty of hiring a.net Developer. As you can see, this role is tougher to recruit for than for 84 percent of all other positions. step 3: It s also important to take into consideration what the trend has been for demand. Take a look at the Demand tab. Review the Demand Geography Details by MSA. The Greater Atlanta Area is in the top five markets nationwide for demand. Over the last year, there has been a nearly 35 percent increase in jobs posted for this position alone.

16 step 4: Bottom line, competition is stiff. As a result, the customer will need to provide competitive pay rates if they want a shot at capturing top notch.net Developers in Atlanta. Bringing this third-party data to the customer helps you gain credibility and demonstrate the value of your services. With one last step, you can export a Report a one-page summary with the data we just reviewed (plus compensation information) that you can then present to your customers. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.

17 Quick & Easy Tips for Supply & Demand WHICH COMPANIES ARE HIRING AND FOR WHAT POSITIONS ARE THEY HIRING? In a Business Development role, you might be wondering how you can best use Supply & Demand data to get the lay of the land in a specific city or market. A great way to start is by looking at which companies are hiring most frequently, along with the positions that are in the highest demand right now. step 1: Let s say, for example, you are thinking about expanding into the Dallas/Fort Worth Area. From the Supply & Demand Portal, leave the occupation field blank and only specify the location. step 2: From here, click on the Demand tab to get a better look. step 3: We can see the Top Job Posters in Dallas, which serves as a great lead list for you to begin prioritizing opportunities you can call into today. To the right, you can see a list of Top Industries and understand that health care, finance and technology firms have been the most active in hiring in last past six months. The Top Job Titles show you the positions that are in highest demand in Dallas.

18 step 4: Now, let s say you wanted to drill down further to see which companies are hiring the most for Customer Service Representatives in Dallas during this time period. You can add a filter on the left by typing in the job title under the Occupation (ONET) filter. step 5: The Top Job Posters list is now refreshed to show you companies that have actively hired for Customer Service Representative positions recently. This gives you a focused lead list of prospects that are most in need of your company s products or services. Contact Us For additional questions or to set up a live training, please contact our Workforce Analytics team at or us at WorkforceAnalytics@CareerBuilder.com.