Employers

In a surprising turn of events, job growth in September exceeded expectations, signaling the resilience of the U.S. economy in the face of rising interest rates. According to the most recent employment report from the U.S. Bureau of Labor Statistics, payroll employment surged by 336,000 during the month, surpassing the Dow Jones consensus estimate of 170,000 and exceeding the previous month’s figures by over 100,000. Simultaneously, the unemployment rate held steady at 3.8 percent, in contrast to the projected 3.7%.

 

This payroll increase marked the most robust monthly performance since January. However, wage growth proved to be more modest than anticipated, with average hourly earnings rising by 0.2% for the month and 4.2% year-on-year, falling slightly short of estimates of 0.3% and 4.3%, respectively.

 

Regarding industry sectors, leisure and hospitality led the charge by adding 96,000 new jobs. Other notable gainers included the government sector (73,000 jobs), healthcare (41,000 jobs), and professional, scientific, and technical services (29,000 jobs). Conversely, motion picture and sound recording positions decreased by 5,000, reflecting a 45,000-job decline since May due to labor disputes in Hollywood.

 

The service-related industries played a significant role in the overall job growth, contributing 234,000 jobs, while goods-producing industries added 29,000 jobs. Average hourly earnings within the leisure and hospitality sector remained unchanged for the month but showed a robust increase of 4.7% compared to the previous year.

 

The private sector outperformed earlier predictions, with an impressive gain of 263,000 jobs, far exceeding the earlier estimate of just 89,000.

 

The September employment report underscores the positive momentum in the United States job market, with notable growth in the leisure, hospitality, government, and healthcare sectors. This resilience in employment numbers is particularly noteworthy in light of ongoing economic challenges. Although slightly below expectations, wage growth continues to exhibit positive trends in average hourly earnings.

Hiring the best candidate for your team is crucial for the success and growth of your organization. The process of finding the right fit can be challenging, but with a well-structured strategy, you can significantly increase your chances of making a successful hire.

1. Define the Job Role Clearly

The first step in the hiring process is creating a clear, candidate-focused job description. Outline the responsibilities, qualifications, and expectations for the role. Be specific about the skills and experience required, as well as the cultural fit and values that are important for your organization.

 

2. Use a Recruiting Firm

Don’t limit your search to a single job board or your internal recruiting team. Use multiple sourcing channels, including recruiting firms specializing in the roles. Our AI platform sources highly qualified, diverse talent faster and more accurately because of our vast experience and deep tech stack. Partnering with a firm like INNOVA People allows you to cast a wider net and reach a diverse pool of candidates.

3. Screen Resumes and Applications

If using a recruiting firm, we only bring you the most qualified candidates, so you don’t have to screen countless resumes. Review resumes and applications carefully to identify candidates who meet the basic qualifications outlined in your job description. Look for relevant experience, skills, and a demonstrated interest in the position.

 

4. Assess Cultural Fit

During the interview process, assessing cultural fit is as important as evaluating skills and experience. Consider the values, beliefs, and work ethic that are important to your organization, and ask questions that help you gauge whether the candidate aligns with your company culture.

 

5. Test Technical Skills

For roles that require specific technical skills, consider using skills assessments or practical tests to evaluate a candidate’s proficiency. This step can help you identify candidates with the hands-on experience needed for the job.

 

6. Check References

Contact the candidate’s references to gather insights about their past performance, work ethic, and interpersonal skills. This step can help you verify the candidate’s information and better understand their potential fit within your organization.

7. Evaluate Soft Skills

Soft skills like communication, teamwork, and problem-solving are often just as essential as technical skills. Pay attention to how candidates interact during interviews and their ability to adapt to different situations.

8. Consider Diversity and Inclusion

Diversity and inclusion are essential for building a solid and innovative team. Make a conscious effort to consider candidates from diverse backgrounds and create an inclusive hiring process that minimizes bias.

9. Make a Data-Driven Decision

Compile all the information you’ve gathered about each candidate and make a data-driven decision. Consider the candidate’s qualifications, interview performance, cultural fit, and feedback from references and assessments.

10. Let INNOVA People do all the heavy lifting

We also consider the seniority of the position and candidates’ skills that aren’t evident from their CVs. As a people-first company, we know how to connect to candidates, screen them, and only present top talent.

 

11. Onboarding and Support

Find hiring tools that meet your needs; once you’ve successfully found and placed talent within your organization, the recruitment process isn’t quite finished. An effective onboarding strategy and ongoing support can improve employee retention and reduce the costs of needing to hire again in the future.

 

Hiring the best candidate is a critical task requiring careful planning and a systematic approach. Don’t be afraid to hire a recruiting firm specializing in the role you’re trying to fill. Remember that the hiring process is not just about finding someone with the right skills; it’s about finding the right fit for your team and your organization’s long-term success.

 

 

When reviewing resumes, it’s essential to look for red flags that could indicate issues with a candidate’s qualifications, experience, or fit for the role.

Here are some typical resume red flags to watch out for:

1. Unexplained Employment Gaps: Frequent or unexplained gaps in a candidate’s employment history might raise questions about their consistency or reliability.
2. Frequent Job Changes: While job changes are expected, excessive short-term positions could indicate a lack of commitment or difficulty working within teams or organizations.
3. Lack of Relevant Experience: If a candidate’s experience doesn’t align with the job requirements or is heavily skewed towards unrelated roles, they might not be well-suited for the position.
4. Inconsistent Dates: Mismatched dates for education, employment, or other sections could indicate inaccuracies or potential dishonesty.
5. Overemphasis on Soft Skills: While soft skills are important, an overly vague or excessive focus on them might be an attempt to compensate for a lack of relevant technical or job-specific skills.
6. Exaggerated Responsibilities and Achievements: If a candidate’s accomplishments seem too grandiose or lack context, they could stretch the truth or inflate their contributions.
7. Lack of Quantifiable Achievements: Vague statements without specific accomplishments or quantifiable results can indicate a lack of impact in previous roles.
8. Mismatched Job Titles: If a candidate’s job titles don’t align with their level of responsibility or the roles they are applying for, it could be an attempt to appear more qualified.
9. Unprofessional Email Address: A non-professional or inappropriate email address might indicate a lack of attention to detail or professionalism.
10. Spelling and Grammar Errors: Multiple errors in spelling and grammar can indicate a lack of attention to detail and communication skills.
11. Incomplete Information: Missing information or incomplete sections on the resume could suggest laziness or a lack of thoroughness.
12. Unrelated Hobbies and Interests: While personal interests can provide insight into a candidate’s personality, including irrelevant or controversial hobbies might distract from their professional qualifications.
13. Lack of Customization: A generic resume not tailored to the specific job or company might indicate a lack of genuine interest or effort that could translate to job performance.
14. Suspicious References: Listing references that seem too familiar or overly enthusiastic might indicate a lack of objectivity or honesty.
15. Excessive Personal Information: Personal information such as age, marital status, or a photo isn’t relevant to job qualifications and could lead to biases in the hiring process.
16. Technology Resumes that List Every Code Language Under the Sun: Software Engineers that display so many technologies that they are supposedly skilled at is a huge red flag. Software Engineers who are truly skilled in a certain tech stack display their tech chops in that tech stack. They don’t need to list every single technology they may have been exposed to in their educational and professional career.
17. Job Description Resumes: Resumes that just list the job title and then proceed to rattle off the job description of the role that the professional had held can be a yellow flag when looking to hire this person. Resumes should not only be a place where experience, education, and skills are displayed, but most importantly, it is where candidates should list accomplishments. If these are missing, you will want to explore whether they can articulate what they are proud of or what they feel are accomplishments in their past experience.

 

Sometimes, there might be reasonable explanations for certain discrepancies or issues. If you notice any red flags, consider addressing them during the interview to understand the candidate’s background and qualifications better. Our recruiters can screen for these red flags using our technology, so you’re not wasting time sifting through countless resumes. We only bring you the most qualified candidates to fit your needs.

 

Layoff rates among contingent workers over the past six months rose from 8.3% to 6.9%; however, they appear to be trending downward after reaching a four-year high in the fourth quarter, according to the  Spring 2023 U.S. Labor Market Report released this week by Magnit.

The report highlights the impact of recessionary trends and economic uncertainty on the talent landscape, including changes in employment rates and talent availability.

Despite layoffs in the tech industry, the demand for tech roles across various sectors has increased by 34% as a percentage of total hires, surpassing all other job categories. Organizations across industries rely more on IT and technology to protect and revitalize their businesses, leading to this rise in demand.

Other key takeaways from the report cited by Magnit:

• The voluntary termination rate dropped by 24%, reaching an all-time low of 12.6% in the first quarter – less than half of what it was during the Great Resignation (29.1%).
• Worker priorities have shifted, with a nearly 5% increase in focus on company reputation in Q1.
• While hiring volumes increased by 39% year-over-year in 2021, wage growth turned negative and fell behind the historic growth of inflation. Over the past 12 months, year-over-year wage growth averaged 3.5%, whereas inflation averaged 7.5% among all workers.

Magnit’s report utilizes proprietary algorithms and data from various sources, including hundreds of client programs. With data on hundreds of thousands of workers and over 51,000 unique roles, the report provides insights into talent optimization and recession strategies for organizations.