Nashville named best city for professional and business services jobs

Nashville, Tennessee, topped Forbes' list of the best cities in the country for professional and business services jobs. 

The publication analyzed labor market data as well as job growth trends to determine its ranking. 

Nashville had the highest growth rate of any city in the country in the professional and business services jobs sector, according to Forbes. It has added 160,300 positions since 2011, representing a 42.6 percent increase. 

The source cited "low taxes and a pro-business regulatory environment" as two of the top factors driving job growth in the city. 

The Nashville city government and Chamber of Commerce have implemented initiatives to support business development and job opportunities in the city, the local NewsChannel5 Network reported. 

"We've very focused on long-term planning, not just planning for tomorrow," said Chief Development Officer for the Nashville Area Chamber of Commerce Courtney Ross in an interview with the source. "Now we're in the process of planning for the next five years, the next 10 years."

The No. 2 city in Forbes' ranking was Kansas City, Missouri, which has seen 28.4 percent growth in professional and business services jobs since 2011. 

Nashville, Tennessee, topped Forbes' list of the best cities in the country for professional and business services jobs.  The publication analyzed labor market data as well as job growth trends to determine its ranking.  Nashville had the highest growth rate of any city in the country in the professional and business services jobs sector, according to Forbes. It has added 160,300 positions since 2011, representing a 42.6 percent increase.  The source cited "low taxes and a pro-business regulatory environment" as two of the top factors driving job growth in the city.  The Nashville city government and Chamber of Commerce have implemented initiatives to support business development and job opportunities in the city, the local NewsChannel5 Network reported.  "We've very focused on long-term planning, not just planning for tomorrow," said Chief Development Officer for the Nashville Area Chamber of Commerce Courtney Ross in an interview with the source. "Now we're in the process of planning for the next five years, the next 10 years." The No. 2 city in Forbes' ranking was Kansas City, Missouri, which has seen 28.4 percent growth in professional and business services jobs since 2011. 

The Trevi Group  |  www.TheTreviGroup.com

Amazon Web Services delivers strong Q1 results

Consumers interact with Amazon daily - sometimes even without their knowledge. Amazon Web Services works on the backend of many websites, connecting sites around the world. Since being introduced in 2002, AWS is now responsible for 10 percent of the company's operating income - and powers websites like Netflix, The Guardian reported.

AWS operating income grew by nearly 50 percent from the same time last year, from January to March 31, Geekwire noted. It also saw a 42 percent growth spurt from the previous quarter. Can Amazon continue to grow AWS? And what does it mean for the tech industry?

As consumers continue to integrate IoT devices such as Alexa in their homes and utilize the ample amount of storage in the cloud, there may be no stopping the tech giant. Wa-Mart is one company that, after hearing news of Amazon's purchase of Whole Foods, is telling its tech vendors to work with another provider other than AWS. Microsoft Azure and Google Cloud Compute stand as the two biggest competitors in the market.

The Trevi Group | www.TheTreviGroup.com

BLS Employment Situation Report: May 2017

The U.S. added 138,000 jobs in May as the unemployment rate edged down from 4.4 percent in April to settle at 4.3 percent, according to data released by the Bureau of Labor Statistics.

The rate is currently at its lowest level in 16 years, Bloomberg noted. However, the number of jobs gained fell short of economists' expectations, which predicted the addition of 182,000 jobs.

"Job growth is a little disappointing, but enough to continue tightening the labor market," said JPMorgan Chase & Co. Chief U.S. Economist Michael Feroli, in an interview with the source. "This doesn't change the overall story of an economy that generally seems to be growing above trend and reducing slack."

Since January, the number of unemployed has dropped by nearly 780,000, and the unemployment has fallen 0.5 percentage point.

Both the labor force participation rate and the employment-population ratio decreased slightly in May. Over the year, the number of discouraged workers declined by 183,000.

Total nonfarm payroll employment grew by 138,000 during the month. Average hourly earnings for private nonfarm payroll employees increased by 4 cents to reach $26.22. Average hourly earnings for private-sector production and nonsupervisory employees were $22.00, an increase of 3 cents.

Sector-wise, professional and business services added the most jobs in May, gaining 38,000 positions. Job gains in this segment have averaged 46,000 per month this year.

Food services and drinking places employment increased by 30,000 jobs.

Healthcare added 24,000 positions, with 13,000 in ambulatory healthcare services and 7,000 at hospitals.

Mining employment increased by 7,000, bringing total job gains in the industry since its October 2016 low to 47,000.

There was little employment change in construction, wholesale trade, transportation and warehousing, information and construction.

According to Bloomberg, the tightening U.S. labor market is expected to push the Federal Reserve to increase interest rates at their meeting June 13-14.

The Trevi Group  |  www.TheTreviGroup.com 

Video: Retain Your Clients By Retaining Your Employees

Suppose you have a client who deals with a specific representative within your organization on a regular basis. Then that client starts to see multiple employees being funneled through that position. Every time the client contacts you, they’re dealing with a new person. What does this say to your client about your company? Countless negative things can be inferred from a high turnover rate, which often results in the loss of your clients to another company they perceive as better managed and more reliable.

Click to watch the video.

“Most clients regard a revolving door of employee contacts as annoying at best, and a deal breaker at worst,” says Alicia Sinay, senior franchise development manager for MRINetwork. “Businesses are increasingly relying on relationships, and it’s much easier to maintain the relationships you’ve cultivated with your clients when you don’t have to brief a new person on your business goals every six months, or repeat work that has already been completed as a new employee is being brought up to speed.”

While losing clients means a loss of income for your company, a high turnover rate has the capacity to be even more far-reaching and damaging in today’s candidate-driven marketplace. That’s why your strategy to retain clients should include retaining the employees who serve those clients.

If your goal is to foster employees who are satisfied with their position, you should be aware they expect the following:

• Ability to use their talent and skills in the workplace. Many of your people could contribute far more than they currently do, if their managers take the time to tap into their skills, talent and experience. Whenever possible, allow them to focus their time and energy on projects they enjoy. Show employees you trust them by giving them responsibilities that provide the opportunity to demonstrate their capabilities in other areas. Your business may benefit from applying their knowledge and experience to expanded job duties.
   
• Frequent opportunities to learn and grow in their careers, knowledge and skill. Without the opportunity to work on new projects, serve on challenging and significant teams, and attend seminars and classes, they will stagnate - and ultimately leave your company. Career pathing is a great way for employees and managers to map out an upward mobility track, while placing the responsibility on the employee to achieve certain goals in order to receive a promotion, salary increase or both.
   
• Awards and Recognition. A simple thank you or a congratulatory award often goes a long way in recognizing a job well done. That said, monetary rewards and bonuses, tied to accomplishments and achievements, can be even more motivating.
   
• Communication with their managers. In addition to exit interviews when employees are leaving, routinely ask your employees why they stay. Ask questions such as: Why did you decide to accept a role within the organization? What are your nonnegotiable issues? What would you change or improve? Then use that information to strengthen your employee retention strategies.

Putting these effective retention strategies in place is key to retaining employees and better serving your clients. “Create an environment that stimulates employee satisfaction by incorporating motivation-building practices into your corporate culture,” advises Sinay. “Listen to your employees, respect their opinions, and be available to help with everything from ideas and concerns to assisting them with their career advancement.”

Employees need to feel valued and appreciated, be given feedback, provided with growth opportunities and work-life balance options, and have trust and confidence in their leaders. In this kind of environment, employees deliver higher-than-expected levels of service to each and every client. They take pride in their company and in their work, resulting in retention both of your workforce and your client base.

The Trevi Group | www.TheTreviGroup.com 

Demand grows for data engineers

As the use of big data expands, the demand is growing for professionals who can design the systems and network architecture that effectively gather, store and present this data. 

The value of big data is in the strategic insights it offers, which are uncovered by data scientists and analysts. However, it turns out that data engineers may be the missing element that makes company's big data initiatives successful.

Brian Hills, head of data at Innovation Centre noted in an article for Data Economy, "One of the key learnings from the past few years is that success with data cannot be dependent on data scientists alone ... Using only this approach within a business creates a cottage industry that limits ability to scale and generates a significant number of risks." 

He writes that data engineers also need to be part of the team, as they build the systems that enable data to be analyzed. There is growing demand for these professionals, with Stitch Data finding just 6,500 people with data engineer titles on LinkedIn and 6,600 job openings for data engineers in San Francisco alone. 

Some 42 percent of data engineers have a background in software engineering, research by Stitch Data showed, while the top five data engineering skills are SQL, Java, Python, Hadoop and Linux. 

The Trevi Group | www.TheTreviGroup.com

BLS Employment Situation Report: April 2017

The U.S. job market bounced back in April, adding 211,000 nonfarm payroll jobs during the month, according to data released today by the U.S. Bureau of Labor Statistics.

The gains exceeded Bloomberg economists' prediction of 190,000 jobs added, and followed a weaker-than-expected March that saw 79,000 jobs added, revised down from the previously reported 98,000 jobs.

The unemployment rate fell from 4.5 percent in March to 4.4 percent in April, which is the lowest rate since May 2007, Reuters reported. The unemployment rate has dropped by 0.6 percentage point over the year. The labor force participation rate was relatively unchanged in April at 62.9 percent.

Industry-wise in April:

• Leisure and hospitality added the most jobs, gaining 55,000 new positions. Employment grew in the food services and drinking places sector by 26,000.
   
• Professional and business services followed, adding 39,000 positions. Over the year, employment in the industry has expanded by 612,000 jobs.
   
• Healthcare and social assistance gained 37,000 positions, on par with its monthly average so far for 2017.
   
• Financial activities employment grew by 19,000, with the gains largely driven by insurance activity.
   
• Mining added 9,000 jobs.

Average hourly earnings for all private nonfarm payroll employees increased by 7 cents in April to reach $26.19. Last week, a government report was released that showed private sector wages had their biggest growth in a decade in the first quarter of 2017, according to Reuters.

With the strengthening employment figures, the Federal Reserve is likely to raise interest rates later this year.

"Labor market conditions remain robust and continue to tighten," said Chief Financial Economist Ward McCarthy of Jefferies LLC in New York, according to Bloomberg. "This data will keep the Fed on track for a preferred 2017 normalization timeline of rate hikes in June and September and the first step toward balance-sheet normalization in December."

Bloomberg also noted that income gains, particularly in real estate prices and stock, have contributed to a more positive consumer outlook.

The Trevi Group | www.TheTreviGroup.com

How to Avoid Making Costly Hiring Mistakes

In today's highly competitive job market, businesses can't afford to take a lackluster approach to recruitment and hiring. Not only can a bad hire lead to costly turnover, but it can also negatively impact the organizational performance of a business and, therefore, its bottom line.

Click to enlarge.

According to the Society for Human Resources Management, the cost of replacing an employee could end up amounting to anywhere between 50 percent and a few hundred percent of the individual’s yearly salary. Other studies show a much higher total cost (5 to 24 times the annual salary, depending on the position).

Never has it been more important for employers to hone in on a strategy to attract, onboard and retain top talent. However, this is often far easier said than done. Fast Company reported that two of the biggest reasons companies hire bad candidates can be attributed to needing to fill the position quickly, as well as the organization failing to test or research the skills of the candidate well enough.

“There are many factors that come into play when determining whether someone is a suitable candidate, including their skill set and background, as well as how well they fit within the corporate culture,” says Nancy Halverson, general manager, franchise operations for MRINetwork. “To avoid the risk of costly hiring mistakes, there are key steps companies need to take - starting with getting a clearer picture of who their ideal candidate is.”

Halverson recommends the following to help employers clearly define their ideal candidate:

Build a candidate profile 
The more specific a business is about what its ideal candidate looks like, the better the chances of being able to identify and attract them. Too often, hiring managers cast a wide net in hopes that the top performers will simply come to them. But there needs to be a better, more specific definition of what that person looks like, the exact skill sets and experience they should have and what will be expected of them.

Not only does this help hiring managers, it also benefits candidates as well. According to Aberdeen Group, there is a disconnect between the expectations of employers and candidates, which contributes to higher turnover. Candidates also reported wanting a clearer definition of what the role and responsibilities are.

“Candidates want to know what to expect - both from the position and company,” notes Halverson. “It’s important that they’re able to get a clear understanding of what working for a company would be like before applying - let alone committing - to a job.”

Put competencies into context 
As Lou Adler recently explained in a LinkedIn article, without context, hiring decisions are influenced by personal perceptions and biases, which are the leading cause of hiring mistakes. To avoid this, companies must clearly define roles and responsibilities, as well as the required traits and competencies for performing those functions - not just which ones they need, but why and how they will be used on the job. Additionally, how will the success of those competencies be measured?

The article also suggested outlining about five performance objectives explaining the task, an action verb detailing the role, followed by a measurable result.

“By outlining the attributes, characteristics and duties of the candidate ahead of time, employers will be better positioned to hire someone who fits the bill,” says Halverson. These are the ingredients needed to create a performance-based job description which allow employers to minimize bias attributed to a lack of context and, in turn, reduce their risk of making costly hiring mistakes.

The Trevi Group | www.TheTreviGroup.com

Automation and artificial intelligence expected to create 15 million jobs by 2027

The Future of Jobs report released this week by Forrester Research has revealed that the rise of automation and artificial intelligence is expected to create nearly 15 million new jobs in the U.S. over the next 10 years, MarketWatch reported. This news comes amidst much debate as of late about how robots and technology may influence the job market. 

According to the source, the report noted that the majority of newly created positions will be in specific job areas including engineering, software, design, maintenance, support and training. Additionally, a fresh wave of legal and human resources professionals will likely be necessary for managing and regulating human and robot employee interactions. 

Forrester also projects that a quarter of all jobs will undergo major changes regarding role functions and responsibilities - particularly in medicine, farming and finance, MarketWatch reported.

As TechRepublic pointed out, although a sizeable number of jobs - almost 10 million - are expected to eventually be displaced by robots, the recent analysis projections indicate a far milder impact than the nearly 70 million jobs some industry experts previously predicted would be lost. 

The Trevi Group | www.TheTreviGroup.com

What if your company makes a Counteroffer?

Upon resignation, you have interviewed, evaluated and committed to a new career path and a new company based on your career growth and opportunity, congratulations! Typically, your company and boss will express disappointment that you are leaving their employ since you are a valued employee. They will wish you the best and suggest the door is always open for you in the future.

However, some companies will go beyond the typical “anything we can do?” reaction most Managers will have and try to entice you to stay. Counteroffers are business decisions by an employer to buy time or change the situation to better meet their business operations. Counteroffers can create confusion and remorse for the employee and are typically made in conjunction with some form of flattery. For example: 
•    You're too valuable, we need you. 
•    You can't desert the team/your friends and leave them hanging. 
•    We were just about to give you a promotion/raise, and it was confidential until now. 
•    What did they offer, why are you leaving, and what do you need to stay? 
•    The Executive/CIO wants to meet with you before you make your final decision. 

Counteroffers usually take the form of: 

•    A promise of more money
•    a sudden promotion
•    promises or future considerations
•    emotional guilt trips

Most often a company is basing its decision on the cost and pain to rehire, retrain a new person in your role.  Additionally, it is a chance to buy time and planning to be able to more tactically fill the position in the future or make internal adjustments on their time.

The Reality

• Employers don't like to be "fired." Often, a reporting Manager can be concerned that they will look bad, and/or that his/her career may suffer. It's never a good time for someone to resign, and it may prove time-consuming and costly to replace you. In addition, they know that statistically you are almost certain to leave them in the future.
• Companies use counter offers as a stop gap to buy time, it is a business decision made typically by your manager or an edict higher than your direct reporting Manager and although delivered as a benefit or reward to an employee or from an emotional presentation, it is all business.
• It's can be much cheaper and easier to try keep an employee, even at a higher salary. And it would be better to replace them later - on the company's time frame.
• Having once demonstrated your "lack of loyalty" by having considered looking at another job opportunity, you will lose your status as a "team player" and your place in the "inner circle."
• Numerous studies have shown that the basic reasons for wanting to change jobs/company in the first place will nearly always resurface. Changes made as the result of a counteroffer rarely last beyond the short-term, no matter how many promises are made.
• Once a company decides to “buy” an employee, the companies typically, directly or indirectly becomes open to new candidates for that position, become open to ways to “restructure” and often at a lower salary.
• Statistics show that if you accept a counteroffer, the probability of voluntarily leaving within twelve months or being “downsized or restricted” within one year is extremely high, over 75%. 
• Accepting a counteroffer is a blow to your personal pride, knowing that you were bought. 
• Counteroffers are business decisions by a company and they rarely support the reasons why you accepted a new position in relation to your career growth and long term career outlook.

Addressing a counter offer professionally

Often, a manager will ask if there is anything they can do or why you are leaving simply as a response to the resignation.

They will typically respect you and your decision and wish you the best in your new endeavor and offer to welcome you back should things change in the future.

If it is pressed to indirectly or directly to try to change your mind, offer to have the big boss talk to you or “go to work” on a counter proposal,  the following is one approach to diffuse those situations to avoid issues and resign on good and professional terms.

“I have made this decision after much deliberation as well as accepted and committed to a new company and opportunity which I feel is the right decision for my career.  I appreciate the counteroffer or suggestion yet I plan to honor my commitment and ask that you accept my resignation and honor my decision. I will work diligently to tie up loose ends and transfer open projects in a professional manner. However, if things for some reason didn’t work out as I expect, I would hope we would have an opportunity to work together again in the future”

This is a good way to maintain your integrity and remind them that it was a well thought decision that you would ask that they respect.  It is also a good way to take any tension out of the situation and give them a chance to open the door for later while making a highly professional resignation.
 

Over 180,000 U.S. tech jobs added in 2016

A new report recently published by CompTIA revealed that the U.S. tech industry employs nearly 7 million workers, TechRepublic reported. Approximately 182,000 jobs were added in 2016, representing 10 percent of employment growth nationwide, as well as a 3 percent uptick from the year before. Furthermore, with the tech industry continuously expanding, the sector now accounts for about 8 percent of total U.S. economic activity.

According to TechRepublic, last year the average annual wage for tech positions hit an estimated $108,900 - twice as much as the national average wage, which is $53,040.

In its press release, CompTIA revealed that the tech industry has seen a net gain of nearly 865,000 jobs in the past decade. Additionally, 2016 marked the fifth consecutive year that tech businesses in the U.S. saw growth. The analysis firm noted that while almost every state saw increases in tech employment and business, some of the most significant job gains occurred in California, New York, North Carolina, Texas and Michigan. 

"These numbers affirm the strength and vitality of the U.S. tech industry, and attest to its essential standing in the economy," CompTIA CEO and President Todd Thibodeaux said in the company's statement. "Technology enables innovation and generates growth for companies, regardless of their size, locale or markets served."

The Trevi Group | www.TheTreviGroup.com