LIVE FEED: What do we know and what can we do.
As we continue to navigate the challenges posed by COVID-19 and the impact that it will have on jobs and hiring across various markets, there is an overwhelming amount of information to be consumed. That said, with the help of our clients, vendors, and partners, we’re working to digest and streamline the things that you need to know and offer up some thoughts and suggestions on what we can do as a collective.
Friday, March 27, 2020
Hiring? Pausing? Freezing operations?
Whatever your current situation, we’re all experiencing uncertain, perplexing times. Companies are being forced to completely rethink the ways in which they operate, piloting work-from-home models with little to no warning. Everyone is searching for the answers to the burning questions: what works, what doesn’t, and how it’s possible to keep people engaged.
Fortunately, we’ve prepared something to help. In his latest webinar, our Chief Creative Officer, Matt Gilbert, allows you to pick his brain for the answers to these pressing questions. The EB expert explores the creation of a Work From Home/Remote Work Employer Brand and pinpoints different strategies to improve – and perhaps even embrace – this new normal.
Watch his webinar here for free:
Thursday, March 26, 2020:
Usually, a removed job post means that the job was filled. Now, with the spread of the virus, we’re not only seeing a steep drop in the number of jobs posted (between 50K and 100K a day to a few thousand), but we’re actually seeing job posts being removed – but these jobs are not being filled. The number of total job posts has declined significantly, from about 3.82M to 3.32M, and we will continue to see this number drop.
Cafeterias & Buffets, Passenger Car Rental, and Travel Agencies have seen massive downturns in job posts over the period from December 31, 2019, to March 22, 2020, with decreases of 92%, 87%, and 83%, respectively.
Sector-wise, transportation, and warehousing have seen large reductions in job posts over the period from December 31, 2019 to March 22, 2020, with an eye-watering 64% decrease. Also experiencing declines are the following sectors: Management of Companies & Enterprises (-31%), Utilities (-28%), Real Estate & Leasing (-24%), and Accommodation & Food Services (-22%).
Fortunately, however, some industries are experiencing upticks in job growth, which will help provide jobs for those who have lost them. These include Freight Trucking (up 147%), Individual & Family Services (up 142%), Tobacco Manufacturing (up 73%), and Waste Treatment & Disposal (up 62%), among others.
While thousands are being laid off and job opportunities are shrinking rapidly in certain sectors and industries, there is hope for growth in a select few industries.
Tuesday, March 24, 2020:
COVID-19 has continued to affect job safety and hiring trends, and this impact is mirrored in programmatic campaigns.
In a report comparing a “normal week,” that of February 17-20, to the first two weeks of the outbreak in the U.S., new trends are emerging in a few key verticals.
For both call centers and IT, we are seeing reduced CPAs coupled with a reduction in clicks and applies. This indicates that employers are reducing their spending, and for call centers, that the absence of competition is contributing to improved costs.
Unsurprisingly, healthcare and transportation are seeing higher CPAs and lower apply counts, as the increase in competition has triggered surges in cost. CPCs, however, are just below “normalcy,” which is unexpected given the current conditions.
Warehousing and logistics jobs are experiencing lower CPAs and higher click and apply counts, which is not surprising given the highly publicized job openings in these verticals.
Finally, due to the massive budget cuts faced by employers in this space, retail has seen a slight increase in CPA and a significant dropoff in clicks and applies.
Monday, March 23, 2020:
Bayard launches COVID-19 resume database, HiringAgain.com, to help people find work as job losses mount – HiringAgain.com is a free resumé database for people who have been impacted by the fallout of the pandemic and lost their jobs. Job seekers can visit the site, create a profile, upload their resumé, and that’s it. There is no cost and all the information provided will adhere to all privacy and data laws. What makes this resumé database unique is that employers can now know who has lost their job in this crisis and help them directly. Job boards and job search engines do not identify people impacted by COVID-19. By using the site, employers have a resumé database of people affected so they can help those who need it most. Any organization or business can use the system by visiting the site, creating a free employer account, and then use the resumé database search filters to match with jobseekers. Further, if employers wish to highlight opportunities that they are currently hiring for, users can post those jobs directly onto the site for jobseekers to view.
Resumé databases are not new; they have existed for groups such as veterans for some time. Most site users have their resume on a database but none will highlight those that are affected by the pandemic. Michael Halperin, Chief Digital Officer, states, “The model for helping people in unique situations with free resumé databases made perfect sense here. We created one for people who’ve lost their jobs in this crisis and our whole leadership group was all in.”
The service is entirely free to both job seekers to create their resumé profile and for employers to search the database and connect directly. Bayard is launching www.HiringAgain.com today as a beta version. The company plans to continuously maintain and improve the site over the next several months by enhancing functionality and addressing any known issues.
Friday, March 20, 2020:
Breakdown of job market trends in hardest-hit sectors – The more data and information becomes available, the more we’re able to hone in on the areas where COVID-19 is having the greatest impact.
A new report from conference-board.org indicates that manual service jobs have been hit hardest so far, with 15.4 million jobs (10.2% of total employment) most impacted. Full-service restaurants have taken the greatest hit in this sector, composing nearly ⅓ of that number. Other job groups include Temporary Help Services, Accommodation, Entertainment, Personal Care Services, Air Transportation, and more.
Thursday, March 19, 2020:
Jobseeker activity continues to increase – As we see the number of job openings fluctuate across different industries in response to COVID-19, jobseeker activity remains on a steady upward trend.
Data from the Talroo Marketplace gives us insight into the relationship between searches and clicks across many high-volume hiring verticals. In particular, warehouse searches and clicks have seen a significant spike in activity since the outbreak, with CDL-A Drivers, Customer Service, and Retail also seeing continued growth.
Virtual tools continue to aid recruitment – As we see employers adapt quickly to changing circumstances, there is a growing need to replace onsite interviews, hiring events, and career fairs with virtual equivalents.
With so many virtual communication tools available, it’s important to understand fit as it pertains to your recruitment needs. Video conferencing tools such as Zoom and Skype are ideal for internal and external business meetings, but virtual hiring providers like Brazen, InterviewStream, SparkHire, and HireVue can prove to be much more efficient for recruiters. Leveraging these providers, as well as others, can afford you the option of interview scheduling, on-demand interviewing, assessment tools, virtual career fairs, and landing pages. Not only could they prove to be useful today, but also as part of a longer-term strategy.
Wednesday, March 18, 2020:
Initial Market Trends – As we evaluate the impact of COVID-19 on job openings across the U.S., Glassdoor reported this week that job openings are down 1.5% week-over-week. While this figure may seem modest in the midst of a global pandemic, it’s important to note that this does not represent an even spread across industries and geographies, indicating various levels of crisis for employers and employees.
For example, the report details that the travel industry is most significantly affected (-17.7%), with entertainment, retail, and restaurant bars also seeing significantly reduced openings. On the flip side of that, the transportation & logistics industry has rebounded as the need for products and goods increases across the U.S.
Geographically, major cities in the states hit hardest by the outbreak are seeing a significant decrease in job openings (Seattle, WA & New York City), with Washington DC also seeing a drop. The areas seemingly unaffected by the virus are currently San Francisco, CA & San Jose, CA as job openings continue to increase.
As we all continue to learn, this situation is fluid and the impact on the hiring market will change day-to-day. We will work with our partners to bring you new information as we receive it.