Summary of BLS Employment Report for April 2020

As expected, the decision to mandate the shutdown of a large segment of the U.S. economy in efforts to reduce the spread of the coronavirus delivered record acceleration in the rate of unemployment. Just two months ago, payrolls increased by 230,000 jobs and unemployment fell back to a half century low of 3.5%.

The Bureau of Labor Statistics (BLS) reported the unemployment rate increased by 10.3 percentage points to 14.7%. That is the highest rate and the largest month-over-month increase in the history of the series dating back to 1948. Total number of unemployed persons increased by an astonishing 15.9 million to 23.9 million in April.

“The job losses and high unemployment mark a sharp pivot from just a few months ago, when the economy was pumping out hundreds of thousands of new jobs, and joblessness was hovering near 50-year lows. The jobs bust has been widespread,” noted the Wall Street Journal in an article issued shortly before April results were announced. Economists, meanwhile, had forecast an unemployment rate of 16% from 4.4% in March.

The stock market reaction at today’s opening, indicate that investors have already baked these numbers into their forecasts and have weighed anticipated steps in lifting restrictions.

“The jobs report marks a sobering moment in our history, while it also likely marks the bottom of the economic contraction with hope for a better remainder of the year,” said Bryce Doty, senior portfolio manager at Sit Fixed income Advisors, in a Bloomberg report.

Unemployment increases were widespread throughout the industries reported by the BLS. Roles in leisure and hospitality plummeted by 7.7 million, or 47 percent with almost three-quarters of the decrease in food services and drinking places (-5.5 million).

As the healthcare industry shifted to coronavirus mitigation the BLS data indicated that the remaining sectors in healthcare saw a decline by 1.4 million led by losses in offices of dentists (-503,000), offices of physicians (-243,000) and in offices of other healthcare practitioners (-205,000). There were declines too in professional and business services, construction, manufacturing, transportation and warehousing and in the financial sector among a broad range of industry declines.

In April, employment in retail trade declined by 2.1 million. Job losses occurred in clothing and accessories stores (-704,000), motor vehicle sales (-382,000) and furniture and home furnishing stores (-209,000). By contrast, the component of general merchandise stores that include warehouse clubs and superstores, that were largely unaffected by mandated closure gained 93,000 jobs.

Total government employment dropped by 980,000 in April with employment in local government down by 801,000 in part reflecting school closures according to the BLS.

Reported by CNBC, “The bleak numbers paint a pretty dismal picture, but April may be it for job losses going forward with the country starting to reopen,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there is a silver-lining in today’s dismal jobs report, it is in the realization that the economy cannot possibly get any worse than it is right now.”

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

Coronavirus and managing remote work

With the global spread of the coronavirus pandemic, workers across industries have been forced to work from home where possible. Companies such as Google, Microsoft, Apple, Amazon, and many others around the world have all initiated mandatory work-from-home policies. While many other companies are unable to allow for remote work, which has led to mass layoffs, remote work can be both a blessing and a curse for those who can do it.

Meanwhile the World Health Organization has indicted that we should expect this work situation to become the “new normal” for the foreseeable future. But working from home can be a major transition for people who have always worked in an office and it may require an adjustment period. “Some employees are working from home for the first time,” observes Nancy Halverson, SVP, Global Operations. “They have to figure out how to work effectively in an environment that may be distracting, isolating and disruptive to productivity.”

Communication is key, believes Halverson. “That means leveraging technology like Skype and Zoom to establish day-to-day communication and keep people feeling connected and focused on their jobs,” she says. “Your employees are bound to have many concerns about the impact not only to their workday, but also about the longer-term implications for the economy and their jobs. Communicate with them often about the impacts of the pandemic to your business and encourage employees to express their concerns and questions.”

Halverson suggests offering clear guidelines for people who are new to working from home. “Your team needs to know exactly what is expected of them,” she says. “Not being crystal clear about expectations can lead to problems that can cause major disruptions in your team’s workflow and performance. Clarify what tools your team will use, how you will communicate, what hours everyone is expected to work and when projects will be completed. Put the plan in writing so that everyone understands it and knows what is expected of them.”

“It’s also important to remind them to treat remote work the same way as if they were working from their office,” she says. “They should be making the effort to create a dedicated workspace - and resisting the temptation to lounge around in pajamas all day.”

Keep in mind, too, that when working remotely, employees don’t always receive the same level of feedback on their work as they would in the office. “Make sure to provide consistent feedback,” says Halverson, “even something as simple as an email that shows you’re aware of what they’re accomplishing. Ask how they are adjusting, how they are feeling and if they are having struggling with anything.”

The coronavirus has dramatically changed the way many people in the U.S. and abroad are working. It’s critically important that during these uncertain times your employees feel valued and that their well-being matters. That’s powerful motivation for them to perform well and do their part to keep your business on track.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

COVID-19: What's changing in the IT industry?

The COVID-19 crisis has created global economic upheaval, and as a result, a huge overnight impact on the IT industry. With that in mind, I wanted to take a minute and give you some perspective and insight into what we are seeing and hearing from clients and candidates across the industry.

What trends are you seeing? What are you most afraid of? How can we help you?

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

How to Ace your Video Interview

Dress for Success

• Dress professionally - top to bottom. Not just top torso & head - don't forget about pants/shoes. You never know if you may have to get up and grab a phone to call your interviewer back on a land line!

• Don't have bare shoulders - especially if you are only viewed shoulders up on screen - it will look like you have nothing on!

• Stay away from patterns - solids work best.

Environment

• Noise Levels – turn off radio/TV/cell phone – even white noise like fans, Zen-like waterfalls, loud air conditioners, space heaters, dehumidifiers, etc.

• Put pets away, close the door, and make sure roommates and family members are aware of the importance of quiet!

• Consider putting a note on the door to keep delivery people, sales people, etc. from ringing the doorbell that may trigger pet noise or background chaos.

• If you have the option, set up your computer in a room in which you’re least likely to hear outdoor noise – from trucks, kids, etc.

• Think about what is in the background – a neutral wall with minimal background elements is best. Keep pictures / equipment to a minimum. Move toy bins, adjust angle so your unfinished ceiling insulation isn’t showing.

• Check yourself out on screen – you should be the focus of the video capture – not your stereo equipment.

• Create optimal lighting. Turn on lights in the room so you don’t have a floating head or shut blinds to avoid harsh glare and shadows on your face.

• No eating or chewing gum – and if possible, try to avoid drinking.  If you must take a sip – apologize and sip, then put the drink aside.

Technology

•  Test your microphone sound level and video well in advance of the actual meeting. And again 15 minutes before!

•  Adjust the focus of the camera. Most cameras have the capability to fine tune the crispness of the video.  It's best to have a friend “connect” with you via webcam to tell you how you appear as you adjust the settings.

• Close ALL other programs not necessary for the call – email, instant messaging, office products such as Word, Excel, and close internet browser windows. Not only are these potentially a distraction, but it could also affect your connection quality.

• If possible, hard wire your computer vs. using wireless. If you do use wireless, try to be as close to your router as possible for the strongest connectivity.

• Sometimes firewalls can impact your connection / speed. It may be helpful to temporarily disconnect from VPN or firewalls.   

• Look at the camera, not at the screen when YOU are talking. Its tempting to look at yourself on your computer screen but this not only will appear as though you are looking away to the interviewer, but will also likely cause you to fidget with your hair and lose focus. You would never look at yourself in a mirror if you were interviewing in person – so think of the camera as the interviewer’s eyes and look into it / them!

• Adjust your chair so the camera is at eye level – don’t look down at the camera. Not only does it appear poorly on the other end but that angle is very unflattering for most people!

• If you wear glasses, make sure you don’t have glare on them from the camera; lose the glasses or wear contacts if either are options.

• If your camera has the option of using effects (bunny nose & ears, cowboy hat, pink hair, etc.), don’t use them.

Movement & Pace

• Careful with TOO much movement. If you do experience delays or any choppiness during the connection - heavy movement further accentuates it.   If you are a heavy gesture person – be careful!  Clasp hands in lap – hold on to the sides of your computer – SOMETHING to keep it under control.

• Reactions translate differently when onscreen so it's important to compensate with extra enthusiasm and concise answers.

• Speak succinctly – and pause for a few moments before talking after being asked a question to compensate for the slight time lag.

• Watch body language – it’s easy to forget they can see you!  Don’t look bored (chin resting on your hand), slouchy, don’t look away from the camera when answering questions (remember – think of it as the interviewer's eyes), careful with stretching & scratching.

• If you have a high desktop and rest your arms on it, it’s extra-important not to slouch, so that your shoulders aren’t at your ears.

General

• Login 10-15 minutes before the call in case you have technical problems and / or to ensure you are ready when the interviewer is!

• PRACTICE!  Find someone that will practice with you using ideally the same video technology you will be using during the interview if possible. That person should point out background & environmental distractions, give you honest feedback on how you appear (including where you are positioned in the screen, annoying movements, sound levels, etc.). You may also consider recording yourself on a site such as YouTube so you can see YOURSELF and make adjustments. You should be prepared for the types of questions you are likely to get, so practice the answers so you can judge for yourself how you will appear!

• At the conclusion of a call, be sure the call is fully disconnected before you ‘relax.’ You’re still on camera until the session truly ends.

Don’t Allow This To Happen

Oh well… now you have to see this….

Good Luck!

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

COVID-19: We can help....

While The Trevi Group is well known for finding great talent and top performers for our clients, I wanted you to know that we also handle Outplacement and creative staffing alternatives that could significantly reduce your company’s costs and maximize your team’s morale and performance during this crisis.

1. For example, if you are looking to reduce hours for some of the staff, or need to layoff some staff, we have an option that can reduce costs. As an example, we have a couple of clients that are laying off staff, but need 2-3 of these individuals are needed to work part time hours for get critical things done. What we are doing is moving these individuals to our payroll system, and then having them work for the company on a part time basis -- thereby substantially reducing payroll costs and the heavier burden relationship associated with direct employees. 

2. Additionally, for the talented individuals that you need to lay off, we are providing outplacement services. We are helping these individuals transition their careers, and allowing you to provide compassionate support as they exit. When these individual are treated well, the result is higher morale and productivity for those that are retained in the organization.

The bottom line is that we are here to help and support you in every way we can. Let us know if either of these options make sense for you in today’s uncertain economy and unrest?

Contact us at Info@TheTreviGroup.com to discuss how we can help you.

The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com



Three tips on effective remote interviewing to make that critical hiring decision

Because the health and safety of the U.S. workforces and their families are at the forefront of everyone's mind during the current Coronavirus outbreak, many companies have implemented strict no travel policies. One of the outcomes of this is an increase in virtual job interviews via phone and video conferencing.

Some hiring managers and recruiters are actually seeing an upside to the restrictions. “They are able to get in touch with clients and candidates more easily because they’re at home and may welcome the chance to speak with you,” observes Suzanne Rice, Sr. Director, Business Services. “They’re not traveling, which is often a big challenge for recruiters trying to meet potential candidates.”

Although the practice of remote interviewing is not uncommon, now’s a good time to review how to effectively identify the best candidates without a face-to-face meeting.

Keep the technology simple

You’ll require a web camera with high resolution; Zoom or Skype (or any other video chat software; we use RingCentral in our office) already installed; a neat and clean background; and a well-lit space. Your candidates might need some time to get these requirements together so tell them the specifics as soon as you can.

“Do a trial run a day or two before you conduct the interview,” advises Rice. “Set up and test the camera and sound you will use for the actual interview. You want to eliminate technical difficulties as much as possible since they can be a distraction.”

Put the candidate at ease

Focus on eye contact with the candidate. Look at the camera, using lean-forward body language to engage with them. ”Maintain a friendly demeanor throughout the interview,” says Rice. “This will help the candidate relax and encourage them to talk more naturally.”

Rice also recommends that you spend more time listening attentively. You can provide insight about the business, the job and the team, but limit your own time for talking. “Be sure to give the candidate the opportunity to ask you questions at the end of the interview,” she says. “If you’re new to remote interviewing, you might even ask for suggestions on what might have been helpful to them.”

Remember that it’s a lot like a face-face-interview

Just as you would if you were meeting with the candidate in your office, have a clearly defined profile of the responsibilities and duties of the job the candidate is applying for, as well as the abilities, skills and knowledge needed to perform them. Prepare objective, behavior-based questions that assess their suitability for the work and their potential to succeed in your culture.

If the position will report to a manager under you, you may want to include that person in the interview. “This gives them a chance to ask more job-specific questions and determine if the candidate will fit into their team,” says Rice.

Although some companies are delaying the hiring process because of the virus, businesses that elect to use video conferencing to stay on track with hiring will be better positioned following the upheaval, especially in today’s candidate-tight environment. Amidst health concerns and disruptions, they are demonstrating their ability to keep their businesses on a steady course.

The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com



Help Nashville Recover from the March 3rd Tornadoes

We encourage you to donate to Nashville’s recovery efforts. Many organizations are working hard to help families that have lost so much, and are working to rebuild what has been destroyed.

WKRN.com has a great listing of many organization that are helping, and that you can contribute to.
Click here to go to their website . Or go to the following website to get more information about how you can help.

• United Way

• GoFundMe

• American red Cross

• Salvation Army

• Second Harvest Food Bank

• Community Foundation of Middle TN

• Crisis Center/2-1-1

• Hands On Nashville

• Music City Tornado Relief — #NashvilleStrong

The Trevi Group
”Executive Search for Technology Professionals”
www.TheTreviGroup.com

Employment Summary for February 2020 (from BLS Report)

February was a big month for hiring, according to the latest Bureau of Labor Statistics report. In fact, employment had such a strong surge that the U.S. posted the best jobs numbers since May 2018, according to Bloomberg.

“Payrolls rose 273,000 after the prior month was revised up to also reflect a 273,000 gain, according to Labor Department data Friday that beat all forecasts in Bloomberg’s survey calling for 175,000. The jobless rate fell back to a half-century low of 3.5% as average hourly earnings climbed a steady 3% from a year earlier,” according to the publication.

As CNBC noted, meanwhile, the figures overall have been strong in recent months as well so this jobs report is following a welcome trend for employment: “The previous two months’ estimates were revised higher by a total of 85,000. December moved up from 147,000 to 184,000, while January went from 225,000 to 273,000. Those revisions brought the three-month average up to a robust 243,000 while the average monthly gain in 2019 was 178,000.”

“An important piece of good news here is that while we face these extraordinary uncertainties -- and I think that’s going to continue throughout most of 2020 -- our economy coming into this was much more resilient than say Germany or Japan,” Lara Rhame, chief U.S. economist for FS Investments, said in an interview with Bloomberg TV.

Despite the strong jobs figures, however, the Federal Reserve warned that there could be economic disruption due to the coronavirus in the coming months. “Such a risk to economic activity spurred the central bank to cut interest rates Tuesday in the first emergency move since the 2008 financial crisis,” according to Bloomberg.

Notably, after the rate cut announcement, Fed Chairman Jerome Powell said: “The fundamentals of the economy remain strong,” citing the low unemployment rate, solid pace of job gains and steady wage increases. “Still, Treasury yields have continued to plunge on signs the virus is spreading uncontained,” as noted by Bloomberg.

In terms of other important figures in the jobs report, hourly earnings rose 0.3% from the prior month. “The report reflected a second-straight month of robust government hiring, which rose by 45,000 after a 51,000 gain in January, owing to employment at state and local governments,” according to Bloomberg.

The Trevi Group | “Executive Search Firm for Technology Professionals” | www.TheTreviGroup.com

Identifying employee metrics and people analytics that matter

If you want to build (and keep) a successful and productive team, it’s imperative that your organization keep metrics and track data on employees. But even though the use of people analytics has become more common, many companies don’t really have a clear grasp of the specific metrics that affect performance in their organizations.

“It can also be overwhelming to figure out just what data you should be tracking and relying on to enhance your company’s performance,” says Nancy Halverson, MRINetwork Senior Vice President, Global Operations. “Today there are more than enough ways to track people analytics and it can be detrimental to use the wrong ones to build a business.” Everything from new hire performance to job absence rates are typically kept on hand by a human resources team. But not everything is entirely valuable to focus on for your organization.

“Once organizations focus in on the metrics that work for their businesses, the next step is the acknowledgment that the value of metrics increases exponentially when measured over time,” according to Forbes. “Unless certain metrics immediately point to a major issue, it is perhaps shortsighted to take significant action based on one or even two years’ data.”

Halverson points to three employee metrics that actually matter (and why):

First, it’s important to keep tabs on employee turnover and time to fill, especially the costs associated with these aspects of hiring and retention. “In today’s labor market, CEOs and senior leaders are focused on the time that it is taking to fill open positions, placing huge burdens on any organization’s talent acquisition function,” according to Forbes.

“These are critical metrics to follow because high turnover rates, for example, can greatly impact your company’s productivity,” says Halverson. “Instead, you want to keep your top employees with your organization for years so that you don’t need to waste time filling - and then refilling - a position repeatedly.”

Next, you should also keep tabs on how regularly employees are hitting performance goals. These should be set up in performance review conversations and checked up on during one-on-one meetings between managers and their teams. “Some organizations place great emphasis on goal-setting and often will apply HR metrics,” according to Forbes. “That said, using this metric must start with the quality of the goals being set. This alignment is true for both organization and individual goals.”

Finally, job engagement is a critical people analytics metric that you should keep a close eye on as you consider what to follow. Although this can be trickier to measure objectively, meaningful data can be collected via surveys and during performance review conversations. “Basically, you want to keep employees happy in their roles so that they continue to grow and develop at work,” advises Halverson, “and tracking engagement illustrates just how good of a job leadership is doing to accomplish this.”

According to Forbes, “A natural link exists between engagement and absence rates. Unless there are community or job-based factors that raise the absence rate, these two metrics very often move together but in opposite directions.”

In sum, there are many people metrics that a company should consider when helping their organization succeed. Employee turnover rates, time to fill, performance goals met and job engagement are just some of the most important. By tracking this information and using it to inform how the company is run you’ll be able to identify patters that predict performance - and have happier employees who are more productive.

The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com

Keeping people who work remotely engaged and motivated

In 2020 and beyond, having remote workers at your organization will likely become even more prevalent. Therefore, it’s of the utmost importance to have a powerful strategy in place to ensure that your employees are kept engaged and motivated. After all, physical distance between a manager and workers can lead to mishaps, including poor communication, feelings of isolation and a decrease in efficiency.

“An effective remote worker plan can mean happier workers who feel decreased pressure by not having to answer to office constraints,” says Nancy Halverson, MRINetwork Senior Vice President, Global Operations. “They are often able to achieve a level of work-life balance that is more difficult to manage in a traditional work setting.” She noted that a recent study reported by Inc. Magazine and Business Insider found that workers who can do their jobs remotely at least on a part-time basis tend to be more at ease.

“Video conferencing company Owl Labs surveyed 1,200 U.S. workers between the ages of 22 and 65 for its 2019 State of Remote Work report, and found that employees who regularly work remotely are happier and stay with their companies longer than on-site employees. Of the more than 1,200 people surveyed, 62% work remotely at least part of the time,” according to the publication.

To help make sure your company’s remote worker plan is implemented in the strongest possible ways, here are three tips to follow:

1. Foster connection among remote workers.

According to Forbes, “Isolation can really take a toll on remote workers. If you’re holed away in a home office with little human contact, that’s unhealthy. In addition to that, remote workers often miss out on casual friendships and interactions that go hand in hand with working in an office.” To aid in preventing feelings of isolation, Halverson recommends holding weekly conference calls between employees in which everyone shares updates about their lives. “You might also consider having workers set up one-on-one check-ins with one another to help them become friends and feel connected,” she says.

2. Collect regular feedback from workers and clients.

Beyond creating opportunities for connection, it’s also crucial that you get thoughts and opinions from your workers and the clients they’re helping in their remote capacity. “Not all remote workers receive the benefit of performance reviews, or even knowing whether or not their client or boss is happy with their latest project. Worse, clients may not take the time to tell you if something is wrong. Instead, they simply won’t hire you again,” according to Forbes. “To combat this,” says Halverson, “hold performance evaluations and garner feedback from clients so that you can better understand the needs and challenges from all parties. You’ll get valuable information that you can use to improve quality of life for all involved as a result.”

3. Promote independence for your workers.

This final tip centers on promoting a culture of freedom and flexibility. According to The Muse, “Because you don’t have colleagues just a few feet away or a tech team one floor down, you’ll find yourself developing the skill of looking for your own answers and becoming more proactive to find what you need on your own.” As a boss, therefore, it’s important that you don’t micromanage your workers. “Allow them to truly enjoy their remote work opportunities and have confidence in their ability to get the job done as opposed to nagging them for constant check-ins,” advises Halverson. “Your people will be happier and more motivated for it.”

Remote work can encourage more effective workers in many different ways. By fostering connections among your staff, getting regular feedback and boosting an environment of independence, you’ll build a strong culture for remote work. This, in turn, will lead to greater efficiency and higher retention rates.

The Trevi Group | Executive Search for Technology Professionals | www.TheTreviGroup.com