'SHIFT Report (April) - Trending Topics in the World of Work_

Our April issue of SHIFT explores investing in your workforce, the power of transportable skills, the importance of employee retention, and the reinvention of company culture.

Investing in Workforce a Top Priority for 2022

The latest PwC Pulse Survey, fielded January 10 to January 14, 2022, surveyed 94 human resource leaders from Fortune 1000 and private companies, along with other C-suite executives, about business priorities, investment plans and other concerns. The report based on the survey indicates that HR leaders know that it's people who move business forward, and 61% of HR respondents say hiring and retaining talent will be a key investment for their companies in 2022. That's also the top investment area cited among all executives in the survey. As HR executives are increasingly elevated to a seat at the strategy table, other leaders are looking to them to drive this agenda.

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The Power of Transportable Skills

All workers will need to adapt and learn new skills over their careers, but some skills stand the test of time. Because workers can use these skills to navigate transitions across virtually any industry, these "transportable skills" have lifelong value. In a recent report, "The Power of Transportable Skills: Assessing the Demand and Value of the Skills of the Future," Project Lead The Way (PLTW) and Burning Glass Technologies examined workforce demand for five such skills: collaboration, problem-solving, critical and creative thinking, communication, and ethical reasoning and mindset.

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The Importance of Employee Retention

An article from the Wharton School at the University of Pennsylvania emphasizes the importance of employee retention and how you can improve it at your company by investing in your team to combat attrition. Citing a study from the Society for Human Resource Management (SHRM), the article points out that employee turnover is expensive, costing an average of 6 to 9 months' salary to replace a worker. Employee engagement is one of the top turnover causes, and businesses that focus on improving employee engagement, not just revenue, can see benefits throughout their company and operations. Suggestions for strengthening your workforce, improving employee engagement and decreasing turnover include offering flexible work options, providing learning and development opportunities, and supporting work-life balance.

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The Reinvention of Company Culture

Company culture is having a watershed moment. It is being reshaped in a crucible by the pandemic, the acceleration of automation, the rise of millennials and Gen Z in the workforce and the Great Reshuffle. The human-centered company culture being forged has some recurring characteristics: flexibility, asynchrony, trust, belonging, and a holistic focus on well-being. Gone are the days when companies could lead with perks — think ping-pong tables and endless snacks — designed to make the office a home away from home. Today, forward-thinking organizations are working with employees to make home an office away from office.

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

Employment Summary for March 2022 (from BLS Report)

Meeting analysts’ expectations, the U.S. Bureau of Labor Statistics (BLS) reported the economy added 431,000 jobs in March. Unemployment continued to decline, now reported at 3.6 percent. Among the college-educated civilian workforce the unemployment rate was 2.0 percent indicating a continued tight labor market.  The labor-force participation rate among the college-educated cohort rose to 72.8 percent. Today’s Wall Street Journal noted that household savings are declining, which is likely pressuring some individuals to rejoin the labor force to collect a paycheck, especially as prices rise briskly for gasoline, groceries and rent, perhaps adding to the full employment picture.

Teleworking declined again in March to 10.0 percent versus 13.0 percent in February as easing COVID-19 restrictions and changes in employer policies brought more people back to the workplace.

“The March BLS employment growth report comes as no surprise to our Network of over 1500 executive recruiters in offices throughout the U.S. Despite economic headwinds, the specter of growing inflation and geopolitical uncertainty we continue to see robust demand for talent in our clients’ organizations in every sector of the economy,” said Bert Miller, President, and CEO of MRI one of the world’s leading search and recruitment organizations.

“I have been immersed in the world of talent for 37 years; ten in corporate America and the last 27 in recruiting. Through recessions, periods of slow steady growth, and in rapid expansion cycles there has been one reoccurring challenge to talented performers in even top organizations.  Individuals tend to get ‘comfortable’ — they stop intentional learning.

We coach talented executives, managers, professionals, and even technical-based workers to look past current economic conditions and to avoid complacency — to keep their eyes open to who they can become. Complacency in any position leads to mediocrity and mediocrity leads to missed business opportunities and to fewer career options.

Our advice is simple. Be intentional, disciplined and never lose that curiosity to learn. Find who you can be without limitations. Top talent, at any career level, knows they could get that promotion, work with a dream organization, or even run a company.”

“All the constraints on the labor supply that were prevailing in 2021 have really eased,” said Lydia Boussour, economist at Oxford Economics. That is “a really important factor in driving that next leg of the recovery and getting employment back to where it was before the pandemic.”

Commenting on the overall health of the employment market despite the headwinds, Jefferies Group analysts Aneta Markowska and Thomas Simons noted, "It's premature to start the recession countdown. This does not look like a late-cycle economy ... It's a mid-cycle economy and the business cycle has room to run."

Employment in leisure and hospitality continued to increase, with a gain of 112,000 in March. Job growth occurred in food services and drinking places (+61,000) and accommodation (+25,000). Employment in leisure and hospitality continues to recover from its steep decline and is now down by only 8.7 percent, since February 2020.

Job growth continued in professional and business services, which added 102,000 jobs in March. Employment in this sector is now 723,000 higher than in February 2020.

Employment in retail trade increased by 49,000 in March, with gains in general merchandise stores (+20,000) and food and beverage stores (+18,000).

Manufacturing added 38,000 jobs in March. Employment in durable goods industries rose by 22,000. Nondurable goods manufacturing added 16,000 jobs over the month, including a gain in chemicals (+7,000).

Employment in construction continued to trend up in March (+19,000). Also in March, employment in financial activities rose by 16,000, with gains in real estate and rental and leasing (+14,000). Employment in both of these industry segments is now at or above pre-pandemic levels.

Employment in healthcare and in transportation and warehousing was essentially unchanged in March following large gains in these sectors in the prior 2 months.

“Talented performers open their eyes wider than they thought possible — remove any blinders and seek a view that seems far away and yet, is within reach.

They are curious and intentional about learning and recognize where obtaining new skills and up-skilling will provide a clear career advantage.

None of us are what we can become. Eyes open and keep looking and working to see who you can become — you might just find yourself in place that you had never dreamed,” noted Miller.

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

'SHIFT Report (March) - Trending Topics in the World of Work_

Our March issue of SHIFT explores trends that will shape workplace volatility in 2022, pressing issues that face CEOs today, how organizations are evolving to the next stage of the digital economy, and the future of work beyond the job.

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Trends that Will Shape Work in 2022 and Beyond

We've been living through the greatest workplace disruption in generations and, according to an article in the Harvard Business Review, the level of volatility will not slow down in 2022. HBR identifies 11 underlying trends that will shape workplace volatility in 2022.

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PwC's 25th Annual Global CEO Survey

As the global economy continues to rebound from the depths of mid-2020, the 4,446 CEOs from 89 countries and territories who responded to PwC's 25th Annual Global CEO Survey display optimism about continued economic resilience, with 77% indicating that they expect global economic growth to improve during the year ahead, the highest figure on record since 2012, when PwC first began asking CEOs how they felt about the economy's potential. The survey delves into the pressing issues facing CEOs today and underscores just how full their "inboxes" have become.

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The Work Ahead: Digital First (to Last)

The Work Ahead is a research series providing insight and guidance on how organizations are evolving to the next stage of the digital economy. With the rise of new machines, new generations of talent and new business models based on insight and intelligence, the rules of global competition have changed. Now, these tectonic shifts are being further catalyzed and accelerated by the global pandemic. This comprehensive report outlines the most significant trends and tactics for businesses throughout the world to be aware of, and act on, to ensure a successful future for the future of work.

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Beyond the Job

Researchers at Deloitte are also considering the future of work and pose the following question: How do we go about organizing work beyond the constraints of the traditional job in a way that unleashes the potential of both organizations and people at scale and speed?

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

Employment Summary for February 2022

The U.S. Bureau of Labor Statistics (BLS) reported the economy added a robust 678,000 jobs in February as the unemployment rate edged down to 3.8 percent. Job growth was widespread, with notable gains in leisure and hospitality, professional and business services, healthcare, and construction. Among college-educated civilian workers, the unemployment rate declined slightly to 2.2% — near record lows.

Teleworking declined in February from January’s high of 15.4 percent to 13.0 percent as the labor force responded to easing COVID-19 restrictions.

“February’s BLS report continues to chart an ongoing jobs recovery since March 2020. More importantly it measures growth in skilled jobs as unemployment among college educated workers points to virtually full employment. The Chicago Fed’s February Letter has an interesting analysis that aligns with many of our executive recruitment team’s observations about the new world of work emerging as the COVID-19 threat fades and the economy continues to grow. Essentially the report concludes that millions of skilled workers quickly took the first job available in the months following the March 2020 COVID-19 plunge. Many of those new positions did not align with the job seekers skills, purpose nor did they find a compelling cultural match. These people as well as the thousands of executive, technical, professional, and managerial workers who were not impacted by layoffs see this recovery period as an opportunity to make a positive career change,” said Bert Miller, President and CEO of MRI.

“Some talent industry analysts have asked, 'why is so much of the workforce unhappy?' as if unhappiness was driving much of this job churn. Based on what our Network of over 1500 professional recruiters observes and what I see in the market, it is not unhappiness. It is a workforce that is not finding career fulfillment.

We spend a great deal of time at work. In many ways, our job defines what we are, how secure we feel, and to a certain extent, if we're able to actualize our dreams. When you're stuck in a job with no advancement potential, little stability, and earnings that don't reflect what you're worth, it's not a good place to be. When those priorities are met, people are more fulfilled.

It really comes down to building an attractive workplace culture through values — focusing on the things that are important to the top performers. We counsel our clients to focus on a strong hiring and individual brand, culture and core values.”

Jay Timmons, president and CEO of the National Association of Manufacturing noted a key factor in providing workers with a sense of fulfillment is a push to provide paths to ‘upskilling.’ "There’s hardly ever been more opportunities for future manufacturing workers. Innovators. Designers. Technicians. Creators," he commented. "To help workers advance in their careers, companies are investing in upskilling programs — so that people can keep improving their skills as technology advances throughout their careers.”

Wall Street Journal reporter Josh Mitchell provided context to the need for employers to create a more attractive workplace, “While virus infections have fallen sharply since their peak in mid-January, employers say they continue to struggle to find workers as they respond to a high level of spending from households. Though some workers have come off the sidelines in recent months, the labor force remains depleted, with many older workers having retired, immigration down sharply and some younger and middle-aged workers remaining at home.”

Employment in leisure and hospitality continued to increase, with a gain of 179,000 in February. Job growth occurred in food services and drinking places (+124,000) and in accommodation (+28,000). While continuing a robust trend in job creation, employment in this sector remains 1.5 million lower than in February 2020.

Professional and business services added 95,000 jobs in February, with job gains in virtually every sector including management of companies and enterprises (+12,000) and management and technical consulting services (+10,000). Employment in professional and business services is 596,000 higher than in February 2020.

Employment in healthcare rose by 64,000 and in construction by 60,000 in February.

Transportation and warehousing employment increased by 48,000 in February and is 584,000 higher than in February 2020.

In other industries, February employment rose by 37,000 in retail trade, 36,000 in manufacturing, and 35,000 in financial activities.

“People gravitate towards values-focused organizations, firms that offer flexibility, with leaders and team members who they enjoy working with every day. Talented workers want to work with firms that have compelling clearly stated purpose and values, enlightened leadership and yes, competitive compensation. These factors drive not only loyalty, but they also create an environment that drives true career fulfillment,” noted Miller.

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

BLS Report: Employment Summary for January 2022

Total non-farm payroll employment rose by 467,00 in January, well above analyst’s estimates that had factored in a significant impact for the COVID-19 Omicron variant. Today’s U.S. Bureau of Labor Statistics (BLS) report also noted the unemployment rate edged higher to 4.0 percent. The unemployment rate for college-educated members of the civilian workforce increased slightly to 2.3 percent but still at a level indicating near full employment in this demographic.

Notable job gains occurred in multiple sectors, with the highest increase in leisure and hospitality.

The labor force participation rate data increased slightly to 62.2 percent but remained below the pre-pandemic level of 63.4 percent.

The percent of non-farm workers reporting that they teleworked at some point in the past four weeks jumped to 15.4 percent versus 11.1 percent in December 2021. The increase might be due to short-term effects of the jump in Omicron infections throughout January.

“January’s BLS report tells a short-term story about the effects of the Omicron surge as an estimated 9 million workers called in sick in early January and employee work-from-home rates increased. These factors clouded the jobs data forecasts. In our most recently reported month, December 2021, our MRINetwork of over 300 search firms and more than 1,500 recruitment professionals saw through the clouds. Network revenue from search assignments increased 25% versus the previous December. Our view is underlying demand for executive, technical, professional and managerial talent remains strong,” said Bert Miller, President and CEO of MRI. “I’ve been in the executive recruitment business for over 27 years and have seen economic cycles drive peaks and valleys in hiring demand. What I haven’t seen is top performing firms easing up on the hiring throttle as they continue to build best-in-class leadership, sales, marketing, and operations teams. Talented individuals are in demand today and will continue to be in demand through virtually any business cycle. That’s why we continue to help our clients to build and effectively communicate their hiring brand, culture, and core values to attract the best talent.”

Wall Street Journal reporters Sarah Chaney Cambon and Gabriel T. Rubin observed, “Many workers are reaping their largest pay gains in years, as companies compete for a limited pool of workers. Wage growth — at nearly 5% — is much stronger than the average of about 3% before the pandemic hit. They also quoted Luke Tilley’s, chief economist at Wilmington Trust Investment Advisors, observation that ‘The labor market is as tight as we have ever seen it.’

Goldman Sachs economist Spencer Hill noted that people who reported they couldn’t work because their employer closed or lost business due to the surge were likely offset by fewer-than-normal year-end layoffs as many companies were hesitant to let workers go amid widespread labor shortages.

Employment in leisure and hospitality expanded by 151,000 in January, reflecting job gains in food services and drinking places (+108,000) and in the accommodation industry (+23,000). This industry was among the hardest hit since the onset of the virus. Employment in leisure and hospitality is down by 1.8 million, or 10.3 percent since February 2020.

In January, professional and business services added 86,000 jobs across multiple segments. Job gains occurred in management and technical consulting services (+16,000), computer systems design and related services (+15,000), architectural and engineering services (+8,000), and other professional and technical services (+7,000). Employment in this industry is 511,000 higher than in February 2020.

Retail trade employment rose by 61,000 in January. Most of the job growth occurred in general merchandise stores (+29,000); health and personal care stores (+11,000).
Employment in transportation and warehousing increased by 54,000 in January and is 542,000 higher than in February 2020. In January, job gains occurred in couriers and messengers (+21,000), warehousing and storage (+13,000), truck transportation (+8,000), and air transportation (+7,000).

Employment in healthcare and wholesale trade continued to trend up +18,000 and + 16,000 respectively. Employment showed little change over the month in mining, construction, manufacturing, information, financial activities, and other services.

“At our recent MRINetwork leadership conference I repeated Nelson Mandela’s sage advice, ‘There is no passion to be found playing small — in settling for a life that is less than the one you are capable of living.’ Our advice to talented professionals both starting their careers and with decades of experience reflects that sentiment. The key factor differentiating why some candidates go on to run companies and live the life they want personally, professionally, and financially is overcoming self-limitation. Individuals have more control over their careers today than perhaps ever. We urge people to think big — think infinite and to be courageous enough to maximize and live the life you are capable.

“It’s clear from my vantage point that those who never limit themselves or play small are the people today’s leading companies will target. My best advice for any manager or professional ... Do not play small and Do not settle. If you do, you will limit yourself and be less than you are capable. Think big, be humble, tirelessly work on your game and be courageous,” noted Miller.

The full Bureau of Labor Statistics report can be downloaded here

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

SHIFT Report (February): Trending Topics in the World of Work_

Our February issue of SHIFT explores the top recruiting trends for this year, why so many individuals are quitting their jobs, how the pandemic has changed the outlook on industry, and dives into digital transformation in 2022.

Top Recruiting Trends for 2022

Appcast, a global leader in programmatic recruitment advertising technology and services, has issued its "Top Recruiting Trends for 2022" report. As organizations continue to navigate an unusual and unpredictable job market and employers struggle to meet hiring objectives, the report breaks down the latest labor and recruitment market trends, forecasts the future of hiring, and provides actionable guidance to help organizations prepare effective recruiting strategies for 2022.

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The Great Resignation: Why Everyone Is Quitting

A record 4.5 million Americans voluntarily left their jobs in November, according to the Bureau of Labor Statistics. This pushed the quit rate to 3%, matching the high from September. The high quit rate is a symptom of the tight labor market where workers can quickly find a new — and potentially better — job.

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How Has the Pandemic Changed the Outlook on Industry?

IndustryWeek's editors asked contributors and business leaders to share how their outlooks have been changed by the ongoing challenges in the industrial world during the two years of COVID-19. Although a question as broad as "How has your outlook changed because of recent history?" generates a wide variety of opinions, the editors found that many respondents had similar thoughts.

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Digital Transformation in 2022

ZDNet, a business technology news website, identifies hyper-automation, hybrid experiences, distributed environments and explosion of data as some of the new challenges and opportunities facing all businesses today, as well as highlighting research on the seven key digital transformation trends that will shape the future of work in 2022 and beyond.

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

'SHIFT (January) - Trending Topics in the World of Work_

Our January issue of SHIFT explores what skills are needed in the new world of work, job attributes working adults personally prioritize, modern workplace trends, and why the "stay interview" is the next big trend of the Great Resignation.

Defining the Skills Citizens Will Need in the Future World of Work

As digital and AI technologies transform the world of work, today's workforce needs to learn new skills and to continually adapt as new occupations emerge. Research by the McKinsey Global Institute has looked at the kind of jobs that will be lost, as well as those that will be created, as automation, AI and robotics take hold. And it has inferred the type of high-level skills that will become increasingly important as a result. The need for manual and physical skills, as well as basic cognitive ones, will decline, but demand for technological, social and emotional and higher cognitive skills will grow.

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The American Workforce Index: Perspectives and Priorities

Populace, a Massachusetts-based think tank, recently conducted a survey of what U.S. workers want most — and least — from their jobs today. The goal was to gain an understanding of what people are willing to trade off in search of what they truly value from the world of work. The report reveals not only what job attributes working adults personally prioritize, but also what they believe others prioritize. Those expectations have repercussions for the workplace, the economy and American life at large.

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12 Workplace Trends for 2021/2022

A report from FinancesOnline discusses modern workplace trends to help businesses understand the initiatives that are shifting the workplace; redefine their workplace ethos; and create a positive, flexible, and collaborative culture tailored to the needs of today's worker.

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Why the "Stay Interview" is the Next Big Trend of the Great Resignation

According to a recent report by CNBC, businesses are on a hiring spree during the Great Resignation of 2021, with many lowering their standard qualifications, tapping boomerang employees, and taking a harder look at their "enthusiastic stayers." As retention efforts heat up, you'll probably hear more about the "stay interview." Think of it as the opposite of an exit interview, says CNBC: Instead of asking why an employee is quitting, a stay interview focuses on what motivates the employee to stick around, what could be better about their work experience and how they envision the next stage of their career within the organization.

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

BLS Employment Summary for December 2021

The U.S. added 199,000 jobs in December, well below analysts’ expectations. While today’s U.S. Bureau of Labor Statistics (BLS) report captures hiring activity that primarily occurred before the COVID-19 Omicron variant spread rapidly later in December, it still reflects resilience in the rapidly recovering labor market. For the full year, the U.S. economy added 6.4 million more jobs than at the end of 2020 — more than any year on record.

Notable job gains occurred in leisure and hospitality, professional and business services, and manufacturing. The unemployment rate declined 0.3 percentage point to 3.9 percent in December.

The labor force participation rate data remained flat versus the prior month at 61.8 percent in December.

The percent of nonfarm workers reporting that they teleworked at some point in the past four weeks was slightly lower at 11.1 percent, continuing a multi-month decline.

“Today’s BLS numbers show ongoing growth in job creation in most sectors of the U.S. employment market despite the challenges of the latest COVID-19 cycle. Our MRINetwork of over 300 search firms and more than 1,500 recruitment professionals continue to see record growth in assignments to place executive, technical, professional and managerial talent within our portfolio of clients ranging from small local firms to large multinationals,” said Bert Miller, President and CEO of MRI.

“This marks my third New Year’s Day as the leader of our almost 60-year-old Network, and I have never been as confident about the fundamental forces driving the search for talent among our clients. There is no better feeling in the world than being on a team of staffing advisors rowing in the same direction with relentless energy and focus as we improve our clients hiring brand, culture and core values with the top talent needed to transform their organizations.”

Writing in today’s Wall Street Journal, reporter Sarah Chaney Cambon notes, “[Virus driven] employee absences will likely hurt production and slow services without leading to widespread layoffs. Many economists expect employers to remain in hiring mode because they still have roles to fill amid strong consumer demand. Job openings are historically high, providing a bounty of opportunities for workers who are without work or seeking extra cash.”

Michael Pearce, senior U.S. economist at Capital Economics, suggests that two critical factors are at play in this month’s job growth data. To him, the numbers “suggest that worker shortages were becoming a bigger restraint on employment growth, even before the Omicron surge in infections, which could knock hundreds of thousands off payrolls in January.”

Employment in leisure and hospitality continued to trend up in December (+53,000). Employment in food services and drinking places rose by 43,000 in December but is down by 653,000 since February 2020.

Employment in professional and business services continued its upward trend in December (+43,000). Over the month, job gains occurred in computer systems design and related services (+10,000), in architectural and engineering services (+9,000), and in scientific research and development services (+6,000).

Manufacturing added 26,000 jobs in December, primarily in durable goods industries. A job gain in machinery (+8,000) reflected the return of workers from a strike.

Construction employment rose by 22,000 in December, following monthly gains averaging 38,000 over the prior three months.

Employment in transportation and warehousing increased by 19,000 in December. Job gains occurred in support activities for transportation (+7,000), in air transportation (+6,000), and in warehousing and storage (+5,000).

In December, employment showed little or no change in wholesale trade, mining, retail trade, financial, healthcare and government.

“2022 is not 2020 ‘too’, don’t let it feel like Groundhog Day. It is a brand-new year that the best organizations will leverage to separate from their competition as we start to see the winners emerge. We counsel our clients to make purposeful and intentional commitment in investing in people. The true winners provide a clear mission and north star that are built on a values-driven foundation and yes, within organizations that pay for the best talent,” noted Miller.

“Individuals have more control of their career than ever before. They seek companies that align with their scorecards and have the long game in mind. The world of work has only accelerated to where it was already headed, we just got here ten years early.”

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

BLS Employment Situation Report (for November 2021)

Economic fundamentals remained positive in November and were reflected in today’s U.S. Bureau of Labor Statistics (BLS) survey. The U.S. added 210,000 jobs in November, below analysts’ expectations and below the monthly job growth average of 555,000 so far this year. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. The unemployment rate declined by 0.4 percentage point to 4.2 percent in November.

While the Omicron variant threatens to slow future momentum, strong consumer demand and a labor force that remains smaller than before the pandemic should drive continued hiring gains in upcoming months. The labor force participation rate edged up to 61.8 percent in November but still is 1.5 percentage points lower than in February 2020.

The percent of nonfarm workers reporting that they teleworked at some point in the past four weeks continued to decrease. In November, 11.3 percent reported teleworking versus 11.6 percent in October and 13.2 percent in September.

“The BLS Data continues to inform us of solid job growth. Our MRINetwork of over 300 search firms and more than 1500 recruitment professionals provide real-time confirmation of a strong hiring environment as they continue to see record growth in assignments to place executive, technical, professional and managerial talent with their clients in every sector of the economy,” said Bert Miller, President and CEO of MRI.

“I have been fortunate to work and recruit in the consumer space for over 30 years and have seen many incredible things over that time, but nothing like the challenges and opportunities the consumer market and virtually every industry is seeing within the 2021 economy. Supply chain challenges, technology impacting every touch point, skilled labor shortages, accelerating work-from-anywhere models, and an economy roaring back from a covid induced shutdown are all driving talent demand. In this environment, we continue to counsel clients to look beyond short-term talent needs and consistently market their hiring brand, culture, and core values to attract the best talent,” noted Miller.

Taking a macro view of the employment marketplace, James Knightley, chief international economist at ING in New York commented, "There is clearly massive demand out there for workers. The bigger issue is the supply to meet that demand. If supply doesn't show any meaningful increase, that would suggest we are going to be in a situation where the labor market is going to continue to add to upside inflationary pressures."

Intelligence chief industry economist Carl J. Riccadonna observed the difference in job growth by education level, “The jobs deficit relative to February 2020, which currently stands at 3.9 million jobs, is entirely comprised of workers who lack a college degree. College-educated workers are now about 2% above their February 2020 employment levels and continue to see the strongest job growth, with high-school-educated workers still about 5% below pre-pandemic levels. Employment among workers with less than a high-school diploma actually declined over the last three months."

Professional and business services added 90,000 jobs in November. Job gains continued in administrative and waste services (+42,000), and in management and technical consulting services (+12,000) as well as in computer system design and related services (+10,000).

Employment in transportation and warehousing increased by 50,000 in November and is 210,000 above its February 2020 level. Job gains occurred in couriers and messengers (+27,000) and in warehousing and storage (+9,000).

Construction employment rose by 31,000 in November, following gains of a similar magnitude in the prior 2 months. In November, employment continued to trend up in specialty trade contractors (+13,000), construction of buildings (+10,000), and heavy and civil engineering construction (+8,000).

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

SHIFT Report (December) - Trending Topics in the World of Work_

Our December issue of SHIFT explores a study of remote work at Microsoft, driverless trucks in response to labor shortages, emoji etiquette at work, and holiday pay increase for flight attendants to prevent operational meltdown.

Study of Microsoft employees shows how remote work puts productivity and innovation at risk

A new study finds that Microsoft's companywide shift to remote work has hurt communication and collaboration among different business groups inside the company, threatening employee productivity and long-term innovation. This one of the key findings in a peer-reviewed study of more than 61,000 Microsoft employees published by Microsoft researchers in the journal Nature Human Behaviour.

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Driverless trucks – the way of the future?

One response to the growing labor shortage in the transportation industry is the introduction of driverless trucks. According to CNBC, Walmart recently announced that it has started using fully driverless trucking in its online grocery business, aiming to improve logistics, increase capacity and reduce inefficiencies — an objective that may have other sectors such as grocery deliveries and ride-share services jumping on the driverless bandwagon.

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Emoji etiquette at work

A survey of over 1,000 U.S. employees, conducted by Fast Company, reveals the latest findings on emoji etiquette — and which emoji you should never use. To explore workplace communication, 68 sample emails were drafted and each received feedback from 200 respondents. These drafts were written for a variety of scenarios, containing different emojis, tones and characteristics. Based on how these emails ranked in terms of their different communication elements, the survey reported on perceptions of professionalism and effectiveness.

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Staffing shortages prompt holiday pay increase for flight attendants

Other industries, such as the airlines, are taking aim at the labor shortage by offering pay premiums, a tactic that reflects the growing power of the employee in today's market. Employers recognize that they have to take decisive measures to ensure they can hire — and retain — the workers they need to keep their businesses in operation.

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

SHIFT Report (November): Trending Topics in the World of Work_

Our November issue of SHIFT explores the fastest growing and declining jobs over the next decade, 2021 technology trends, effectiveness of talent mobility, and empathy as a critical skill for leaders.

The Fastest Growing and Declining Jobs over the Next Decade

The U.S. Bureau of Labor Statistics (BLS) projects there will be 11.9 million new jobs created from 2020 to 2030, an overall growth rate of 7.7%, although some jobs have a growth rate that far exceeds that level. Drawing on this data, Visual Capitalist, a global online publisher, has compiled a series of graphics showing the fastest growing jobs — and those declining the fastest — and how much they each pay.

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Let Your Top Performers Move Around the Company

A recent article in the Harvard Business Review (HBR) on cross-functional management advises managers to actively move employees into different roles. Multiple studies on talent mobility show that this is one of the most underutilized, yet most effective, development and cultural enhancement techniques in companies today. The benefits are clear: Cross-functional collaboration increases; departmental cooperation is enhanced; innovation improves; and companies begin working more as one cohesive team instead of separate fiefdoms.

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2021 Technology Trends

Accenture, an Irish-based Fortune Global 500 company specializing in IT services and consulting, has published a comprehensive report on the technology trends that will shape the future. A sampling of these trends include: democratizing technology, multiplying the impact of complex ecosystems, and changing the workplace to avoid hindering the workforce.

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Empathy Is the Most Important Leadership Skill According to Research

Empathy has always been a critical skill for leaders, but it is taking on a new level of meaning and priority. New research demonstrates its importance for everything from innovation to retention. A recent article in Forbes cites several studies indicating that the reason empathy is so necessary is that people are experiencing multiple kinds of stress due to the pandemic and the ways our lives and our work have been turned upside down.

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

BLS Employment Summary for October 2021_

There are tangible signs that the economy is emerging from a delta virus-induced slowdown reflected in improved consumer confidence scores, increased October new homes sales, continued declines in initial unemployment claims and in today’s U.S. Bureau of Labor Statistics (BLS) survey. Employment growth in October of 531,000 indicated a solid gain, above analysts’ expectations but still below the higher pace from earlier this year. Job growth was recorded throughout the report with particular gains in leisure and hospitality, professional and business services, manufacturing and transportation, and warehousing.

The unemployment rate declined by 0.2 percentage point to 4.6 percent.

The percent of nonfarm workers reporting that they teleworked at some point in the past four weeks decreased significantly to 11.6 percent versus 13.2 percent in the prior-month and from the 13 plus percent range for the past several months. This could be a one-month aberration, or it might indicate an acceleration in rate of return to on-site work.

“Our MRINetwork leaders in over 300 search firms pay close attention to the month-to-month trends in the BLS data. This month once again we see continued job creation. But each month I caution our team to ensure that their clients don’t take a short-term reactive hiring approach based on a current supply-demand snapshot. Our most successful clients have a clear understanding of the need to be constantly attracting top talent, to have a 12-to-18-month hiring perspective. Those who hire with a short-term lens, focused on next the quarter’s profitability will find it daunting to attract the best talent,” said Bert Miller, President and CEO of MRI.

“Great companies are looking at their talent needs beyond the range that served them well in earlier economies. These firms not only look beyond a short-term horizon, but they also clearly know why they do what they do, they have a defined culture, and more importantly they have a deep commitment to a set of core values. These firms provide resources to nurture their team’s skills growth as they consistently market to the best talent. Not too surprisingly they see by-product benefit reflected in revenue and profit growth.”

Bank of America U.S. economist Alex Lin reflecting on recent delta impacts noted, “We think a big constraint or headwind causing some of the slowdown we’ve seen in recent months was COVID-related, and now it seems the cases and hospitalizations are trending in the right direction.” He expected restaurants, hotels, and retailers to be among the businesses adding workers in big numbers.

Wall Street Journal reporter Josh Mitchell added insight into this month’s BLS data, “The report suggests the labor market and economy is picking back up after the recovery fell into a summer rut because of the Delta variant. Delta cases declined. Employers desperate to hire to meet strong demand from consumers are rapidly raising wages, dangling bonuses and offering more flexible hours. And households are spending down a big pile of savings that had been boosted by federal stimulus money and extra unemployment benefits. Even with last month’s pickup, job growth remained below the monthly average of 641,000 jobs that the economy created in the first seven months of the year.”

Employment in leisure and hospitality increased by 164,000 in October and has risen by 2.4 million thus far in 2021. Over the month, employment rose by 119,000 in food services and drinking places and by 23,000 in accommodation.

Professional and business services added 100,000 jobs in October, including a gain of 41,000 in temporary help services. Employment continued to rise in management and technical consulting services (+14,000), other professional and technical services (+9,000), scientific research and development services (+6,000).

Employment in manufacturing increased by 60,000 in October, led by a gain in motor vehicles and parts (+28,000). Employment also rose in fabricated metal products (+6,000), chemicals (+6,000), as well as printing and related support activities (+4,000).

Employment in transportation and warehousing increased by 54,000 in October and is 149,000 above its February 2020 level. In October, job gains occurred in warehousing and storage (+20,000), transit and ground passenger transportation (+16,000), air transportation (+9,000), and truck transportation (+8,000). Employment in couriers and messengers decreased by 5,000 in October, after increasing in the prior 3 months.

Solid growth was seen across a broad range of other non-governmental sectors. In October employment in the construction industry increased by 44,000 and job gains were noted in healthcare, retail trade, “other services,” financial, and wholesale trade. Employment in information changed little in October.

“The labor market remains tight in the executive, professional, managerial and technical arena that is our Network’s core focus. In our most recently reported month, September 2021, our same-office billings increased almost 75% versus the prior-year period. On a year-to-date basis every industry practice has grown significantly versus the same period in 2020. Exceptional growth was seen in Healthcare, Financial, and the Professional Services industries. Talent remains tight in both permanent positions and increasingly in work-from-anywhere arrangements or contract placement positions. Firms throughout the economy should anticipate continued pressure in finding, hiring, and on-boarding the best and brightest performers. The shift in the world of work over the next few years will leave firms competing for skilled workers like never before,” said Miller.

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

BLS Employment Situation Report -- for September 2021_

Employment growth in September fell well below consensus estimates with the addition of 194,000 jobs as reported in today’s U.S. Bureau of Labor Statistics (BLS) survey. Job growth, while moderate overall, was positive across most of the key industries measured by the BLS with notable growth in leisure and hospitality and in professional and business services. The unemployment rate declined by 0.4 percentage point to 4.8 percent.

The percent of nonfarm workers reporting that they teleworked at some point in the past four weeks because of the pandemic was 13.2 percent, little changed from the prior three months. This might indicate a new level of “normal” for work-from-home rates.

“Each month talent advisors in our global MRINetwork of 300 search firms look to the BLS analysis for insights into current hiring demand data for skilled executive, professional, technical, and managerial workers. Once again, this month, though not as robust, the demand for talent remains with the arrow pointed north,” said Bert Miller, President and CEO of MRI. “We consult every client to not just react to today’s demand for transformative talent but to look further downrange to ensure they not only understand 'why' they are doing well today but to understand 'how' they must change their organization over time to ensure healthy sustainability. We ask them to go beyond thinking their business is healthy since there is wind behind their sails and their industry is growing as well. We caution that the cumulative effects of standing still with a status quo viewpoint will at some point, potentially have a negative impact. The message is simple, do not sit still — move forward — innovate or you could be moving backwards. High water hides submerged obstacles. It is essential to have the right talent on your team who recognize where the business is headed and can drive the often-small cumulative changes that will separate their firm from the pack over a sustained period time.”

Wall Street Journal reporter Josh Mitchell summarized the overall jobs report succinctly, “The figures add to evidence that fears about the virus and global supply constraints continue to hold back the economic recovery. The biggest factor behind last month’s weak payroll gain was a decline in public-sector jobs, mainly at schools. Employment in private-sector industries rose by 317,000 in September, with modest gains across several industries. The spread this summer of the Delta variant, a particularly contagious strain of COVID-19, likely spooked would-be job seekers and impeded speedier job growth in September, despite many companies being desperate to hire, economists and business leaders say.”

Adding context to today’s BLS data, Seema Shah, chief strategist at Principal Global Investors noted, “After looking like almost a done deal, today’s jobs number has thrown expectations for (Federal Reserve) tapering into disarray. The Fed doesn’t seem to need much to convince it that tapering should begin imminently, but at just 194,000, jobs numbers are suggesting that the labor market is further from hitting the substantial progress goal than they expected.”

Employment in leisure and hospitality increased by 74,000 in September, with continued job growth in arts, entertainment, and recreation (+43,000). Employment in food services and drinking places changed little for the second consecutive month.

Professional and business services added 60,000 jobs in September. Employment continued to increase in architectural and engineering services (+15,000), management and technical consulting services (+15,000), and computer systems design and related services (+9,000).

In September, employment in retail trade rose by 56,000, following 2 months of little change. Over the month, employment gains occurred in clothing and clothing accessories stores (+27,000), general merchandise stores (+16,000), and building material and garden supply stores (+16,000). These gains were partially offset by a loss in food and beverage stores (-12,000).

Moderate growth was seen across a number of sectors. In September, employment in the information industry increased by 32,000, employment in manufacturing increased by 26,000, construction employment rose by 22,000, and wholesale trade jobs increased by 17,000.

In September, employment decreased by 144,000 in local government education and by 17,000 in state government education. Employment changed little in private education (-19,000).

“In our most recently reported month, August 2021, our same-office billings increased almost 70% versus the prior-year period. Additionally, on a year-to-date basis every industry practice has grown significantly versus the same period in 2020 with practices groups like Financial, Healthcare, and Professional Services exceeding 60% growth rates. Our consultants are also looking beyond legacy ‘analog’ talent solutions. Work from anywhere arrangements, or contract placements, now represent a significant factor in our portfolio services as our clients increasingly turning to interim work arrangements to source critical talent,” said Miller.

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

SHIFT (October Edition): Trending Topics in the World of Work_

Our October issue of SHIFT explores talent strategies to bridge skills gaps, location-based pay considerations, using crisis behaviors to evolve company culture, and trends that are defining 2021.

Trends That Are Defining 2021 - and Beyond

McKinsey & Company set out to identify some factors that business leaders should keep in mind as they prepare for what they are calling "the next normal." They discuss how these trends will affect the direction of the global economy, how business will adjust, and how society could be changed forever.
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How to Mix Talent Strategies to Bridge Skills Gaps

As improved job prospects, new skill needs and changing employee expectations threaten to reduce the availability of critical capabilities, companies must deploy the right mix of talent strategies to solve the skills gaps, advises a recent report from Gartner. The report identifies 11 talent strategies ranging from upskilling and reskilling to contingent hiring and outsourcing. The real challenge, however, is figuring out the right mix of talent strategies for the right circumstances, and Gartner outlines five steps to follow to do just that.
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Location-Based Pay Heats Up as Workforces Remain Remote

While geographic pay differentials are common, most companies don't have policies that define what happens to pay when an employee relocates from a high to a low cost of labor location or begins working remotely away from any company location, according to a report from global professional services firm Aon. As this situation is increasingly common today, the report suggests that companies would be well-served to develop a more comprehensive policy around these situations.
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Using Crisis Behaviors to Evolve Company Culture

Leaders who struggled with cultural inertia while managing a remote work force during the pandemic are finding themselves in a surprising situation: Employees spontaneously adopted positive behaviors during the crisis. This comes from consultants at PwC who report that the bureaucracy that was common in previous times seemed to vanish.

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

SHIFT REPORT (September) - Trending Topics in the World of Work_

This month's issue of SHIFT explores boomerang employees, the digital workplace and hybrid model, The Great Resignation, and the current exodus of women from the workforce.

The Great Resignation: Why Employees Don't Want To Go Back To The Office_ (07 / 28 / 21)

It's being called The Great Resignation and it's garnering a lot of media attention – employees quitting their jobs as their employers call them back to work in the wake of the pandemic. Forbes reports that "a record four million workers called it quits in April alone, according to the Labor Department." As many as one in three employees are saying they'll quit if they can no longer work from home, according to one survey.
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She-Cession_ (03 / 01 / 21)

Compounding the Great Resignation is what many observers are now calling the She-Cession – a mass exodus of women from the workforce. According to a report from the National Institutes of Health Office of Intramural Training and Education, U.S. employers cut 140,000 jobs in December 2020. Women accounted for all the losses, losing 156,000 jobs while men gained 16,000. An analysis by the National Women's Law Center says this is the first time since 1948 that the female unemployment rate in the United States has reached double digits.
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Digital Workplace and the Hybrid Work Model_ (07 / 19 / 21)

Deloitte, a worldwide provider of professional services, reports that they have seen a massive upswing in clients seeking guidance on how to evolve their digital workplace "to architect, enable, and operationalize work from anywhere." According to their April 2021 Return to Workplaces survey, 68 percent of the nearly 300 executives interviewed reported that they intend for their corporate workforce to operate in a hybrid model.
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What Employers Need to Know about Boomerang Employees vs. New Hires_ (10 / 08 / 20)

Although numerous studies have examined the performance outcomes for both internal and external hires, few have considered "boomerang employees" who are rehired by a company where they previously worked. Michael A. Campion, Purdue's Herman C. Krannert Distinguished Professor of Management, and collaborators address that research gap in the paper "Welcome Back? Job Performance and Turnover of Boomerang Employees Compared to Internal and External Hires," in Journal of Management.
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The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

BLS Employment Summary for August 2021_

Employment Summary for August 2021_

Robust growth in the leisure and hospitality industry faltered in August as the Delta variant put pressure on non-farm hiring. Despite that factor, the U.S. Bureau of Labor Statistics (BLS) reported an increase in total nonfarm payroll employment of 235,000 jobs. Results were below analyst expectations but in line with some forecasts that had recognized the potential slowdown in leisure and hospitality hiring. The unemployment rate declined by 0.2 percentage point to 5.2 percent.

The percent of nonfarm workers reporting that they teleworked at some point in the past four weeks because of the of the pandemic was little changed from the prior month. In August, 13.4 percent of employed persons reported teleworking, perhaps indicating a new base of the level of work-from-home behavior.

“Demand for talent, particularly transformative talent, continues to drive revenue and placement growth in our global Network of 300 executive search offices. Our consultants recruit top executive, technical, managerial, and professional talent for clients in virtually every industry sector. In our most recently reported month, July 2021, our offices successfully completed almost 50 percent more search assignments versus the same period last year,” said Bert Miller, President and CEO of MRI. “We saw strength in every industry practice area with particular strength in the professional services and financial industry sectors. However, client demand for talent is not only focused on 'permanent' positions. Flexible work arrangements, or contract placements, represent a significant factor in our talent solution services. More companies now realize they can get critical work done through both interim and full-time work arrangements.”

As reported by Fox Business, “The variant may have discouraged some Americans from flying, shopping and eating out. Americans have been buying fewer plane tickets and reducing hotel stays. Restaurant dining, after having fully recovered in late June, has declined to about 10% below pre-pandemic levels.”

Additional context to today’s BLS numbers were provided by David Berson, chief economist at Nationwide Mutual Insurance Co. “Despite the Delta variant, there is still an opening up of the service sector of the U.S. economy. While that started some months ago, it’s not nearly complete.”

Employment in professional and business services increased by 74,000 in August. Employment rose in architectural and engineering services (+19,000), computer systems design and related services (+10,000), scientific research and development services (+7,000), and office administrative services (+6,000).

Transportation and warehousing added 53,000 jobs in August, bringing employment in the industry slightly above (+22,000) its pre-pandemic level in February 2020. Employment gains have been led by strong growth in couriers and messengers and in warehousing and storage, which added 20,000 jobs each in August.

Manufacturing added 37,000 jobs in August, with gains in motor vehicles and parts (+24,000) and fabricated metal products (+7,000).

In other sectors, “other services” industry added 37,000 jobs in August, employment in information increased by 17,000 and employment in financial activities rose by 16,000 over the month, with most of the gain occurring in real estate (+11,000).

Employment in retail trade declined by 29,000 in August, with losses in food and beverage stores (-23,000).

As noted above, in August, employment in leisure and hospitality was unchanged, after increasing by an average of 350,000 per month over the prior six months. In August, employment showed little change in other major industries, including construction, wholesale trade, and healthcare.

“Our Network of talent professionals are meeting client demand for top performers every day. A key message we convey to our clients is to focus on truly brilliant talent at every level of their organization. These performers can be characterized as 'multipliers,' the people on a team who can multiply their impact. They don’t wait to be given direction, rather they relish entering the fray immediately. They are high performers who can accomplish an above average work rate and bring others up alongside them. Identifying the attributes takes skill, but there are signs that top interviewers can spot during the hiring process. We help clients surround themselves with these players at every organizational level. In today’s rapidly evolving world of work, multipliers provide a competitive edge,” noted Miller.

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

STAR Update: 7 Negotiation Tips from MRI Sr. Director of Vendor Management_

Negotiation is a daily practice within business organizations. We negotiate all the time — with clients and partners, vendors and suppliers, supervisors and colleagues, employees and recruits. As MRI’s Senior Director of Vendor Management, Beth Turner understands that the best negotiators are ones who are able to create win-win situations.

Being a good negotiator is central to Beth’s role at MRI. “Every day, I’m in discussions with third-party vendors with the goal of achieving positive outcomes that yield mutually beneficial results,” she says. “It’s not about beating the opposition out of the other party. In the end it’s about everyone feeling that the deal is a good one.”

Beth observes that the number of women working in roles requiring keen negotiating skills is much greater than in the past, when many believed that these roles required the toughness that men could bring to the table. “In my experience,” she says, “women tend to excel at reading people and building relationships, two incredibly important parts of negotiation. While the ability to aggressively get what you want might seem like a victory in the moment, the reality is that the lack of goodwill generated by this can cause problems down the road.”

Here are some of Beth’s most valuable tips to help all negotiators develop this make-or-break professional skill.

Do Your Research

“Always do your research, show up prepared, and demonstrate early on that you understand exactly who you’re negotiating with. In my role at MRI, I have to work across numerous industries from software companies, to telecommunications, to hotel contracts. You must be well-versed enough to understand the industry in which you’re negotiating — if your negotiation partner needs to educate you, you’ve lost credibility and leverage.”

Get Straight to the Point

“Especially when negotiating with men, directness is the best approach. I recommend keeping your focus on closing the deal, and your desired outcome, rather than spending your time on the minutiae in a very detailed discussion. Start out by sharing your goal to set expectations, and ask your negotiation partner a few succinct, pointed questions so you can understand what they want out of the negotiation.”

Show Consideration

“Often, early on in my negotiations for MRI, I’ll ask the rep or vendor what closing this deal would mean for them. For example, what would a win for them look like? Is there a time frame in which they’d like to get the contract executed?

“Almost every time, the vendor is caught off guard — they so rarely feel considered during negotiation. In my experience, this shows that you value partnership and a mutually beneficial outcome, right out of the gate.”

Stop Anytime

“Confidence is key to effective negotiation — and that includes the confidence to walk away. If for any reason, a negotiation is not going well, I will stop or pause the process altogether, no matter how badly I want the deal to close. You can always reopen the discussion later, but there is little to be gained by prolonging an interaction that is no longer serving you.”

Always Self-Review

“After every negotiation, good or bad, I spend fifteen minutes doing a quick self check-in. What went well? What do I wish happened? What could I have done differently? This moment of self-reflection allows me to assess my own role in the negotiation, and ensure that my skills are always improving.”

Keep it Honest

“If you cultivate honesty and strong relationship and communication skills, other people will trust and want to work alongside you. In my role, vendors know what to expect from dealing with me, and colleagues and Managing Partners trust that I am acting in good faith to get the best deal for them.

“Having strong negotiation skills will also help when you have to deliver bad news about the outcome of a negotiation to a partner or co-worker. Because you’ve established an honest, trusting relationship, they can be confident you did everything I could to get the best results possible — even if the outcome wasn’t exactly what they hoped for.”

How Beth Opens a Negotiation

There is no one right way to negotiate, and you’ll likely settle on an approach that feels comfortable and authentic for you.

However, if you’re looking for some guidance on how to get started, Beth often uses these three points to open her negotiations. Next time you aren’t sure how to start your negotiation, give them a try:

1. Ask your partner why closing this deal is important to them and their company.

2. Assure your partner that your goal is not to squeeze every last penny from them, but to find an outcome that is mutually favorable for you both.

3. Set a boundary about your expectations. Communicate that you are not interested in wasting time trading multiple offers back and forth, and that you expect them to come forward with their best possible proposal once initial discussion is out of the way.

An Essential Life and Business Skill

Many professionals find negotiation difficult, stressful, or challenging, but successful negotiation boils down to a few simple principles: relationship building, strong communication skills, honesty, and transparency.

“We must have the confidence to put those skills to use in a persuasive style and build relationships on a foundation of honesty and professionalism,” Beth concludes.

Focusing on these areas while developing yourself as a negotiator will benefit you outside the office, too. Negotiation is a part of life, whether you’re debating with your significant other on where to go for dinner or attempting to get the best deal on a new vehicle. No matter your age, gender, or professional title, negotiating is something by which you should not be intimidated.

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

MRINetwork Recognized by Forbes as One of Nation's Top Talent Access Firms -- 5 Years in a Row

Once again, MRINetwork has been recognized by Forbes.com as one of America’s top recruiting firms. Each year for five consecutive years a Forbes research team has surveyed tens of thousands of HR professionals, hiring executives and candidates as well as thousands of recruiters to identify the best talent access organizations.

Our Network was recognized as an elite top tier firm among 200 ranked firms throughout the U.S. in “Executive Recruiting Firms” and among 250 ranked firms in “Professional Recruiting Firms” categories.

We are proud to receive this designation for the 5th consecutive year recognizing our Network members’ outstanding performance. Forbes and Forbes.com is a powerful voice in the American business community. We want to leverage that image and have agreed once again to obtain licensing rights in the Executive Search category. Every Network office can include this prestigious emblem on office websites, in email signatures, in organic social media and in digital and print promotional communications.

Forbes.com enlisted the services of research firm Statista to identify America's most well-respected recruiting firms. Statista compiled two lists of search firms: "Executive Recruiting," those firms focused on roles with at least $100,000 in annual pay; and "Professional Recruiting," firms specializing almost exclusively in positions of under $100,000 in annual salary. Firms with the most recommendations from the thousands of respondents were ranked in order of votes received. Their methodology “splits the votes” of MRINetwork admirers as our rankings are divided among two categories making it difficult to rank in the top 1% in either category. Despite that disadvantage we still score in the top tier reflecting the power of our Network.

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

Best Practices for Networking in the New, Hybrid World of Work

By Nancy Halverson

Like hiring, commuting, group brainstorming, and other aspects of the World of Work, networking has completely changed due to COVID-19. In some ways, the pandemic has made connecting with colleagues and professional acquaintances more difficult. For one, digital channels have become oversaturated, making it harder to keep up with others’ careers. Communicating online also comes with its own set of challenges, such as the ”Zoom fatigue” phenomenon I've discussed before.

However, the pandemic has also spurred new networking trends and opportunities. Increased flexibility is a major benefit; today, we can network from anywhere and at any time. Not to mention, with a slew of networking tools and platforms at our fingertips, we can gain more direct insight about a person through their online activity — in addition to posting job news, individuals are sharing their views on important topics like culture, diversity, and leadership.

While nothing can replace the power of traditional networking, going digital certainly has its perks. This is good news considering how likely it is that businesses will maintain a hybrid working model even after the pandemic subsides. So what can you do to build lasting professional relationships in 2021 and beyond?

Figure Out Who’s in Your Network

Somebody once told me that everyone should have a good accountant, lawyer, and talent access professional in their life. Perhaps the recruiter comment was made in jest given my occupation — but there is some truth to the statement. When it comes to professional development, there’s nothing more important than connecting with people who have diverse backgrounds and experiences.

Ideally your network will include a mix of individuals who you consider to be:

• Kindred spirits: Those whose beliefs and attitudes are similar to your own — and who will support and cheer you on through every endeavor.

• Truth-tellers: Those who aren’t afraid to speak up and share their honest opinion about your decisions and actions.

• Career guides: Those who will provide direction through each career move and challenge, and help you to achieve stretch goals.

• Industry mentors: Those who are well connected with people from all industries and walks of life (or who know how to find them), and can offer you an introduction.

• Life coaches: Those who can give advice on both personal and professional matters.

How do you identify these people? Start by reflecting on your past work experience and noting down who has made a positive impact at every stage of your career.

Actively Engage and Grow Your Network

Once you’ve determined who’s in your network, it’s time to reach out. Whether this occurs online or in person, here are a few dos (and don’ts) to keep top of mind:

Do be inclusive. As mentioned above, a good professional network is made up of a variety of individuals — so don’t just pursue relationships with C-level executives or superiors. Make an effort to meet people in all positions and of all skill levels.

Do initiate conversations. Like trust, networking is a two-way street — so don’t just wait for others to approach you. However, that doesn’t mean you need to agonize over what to say. More often than not, informal questions (e.g. “Do you mind if I introduce myself?” or “How did you hear about this event?”) can open the door to longer, more meaningful discussions.

Do share opinions. In order to hold a conversation, it’s likely that you’ll need to offer a perspective on timely topics or industry happenings — so don’t be afraid to take a stance. That said, you should avoid being combative and insulting others’ beliefs. Keep your opinions focused on professional topics, such as remote work productivity, and invite others to give their input.

Regularly Check in with Your Network

The phrase “out of sight, out of mind” can apply to a lot of things, but it’s especially true in the fast-paced World of Work. Since it can be easy to lose track of people, make it a priority to touch base regularly; I recommend reaching out to valued contacts at least once per quarter. After all, networking is about more than making an introduction — once you’ve established a professional relationship, you need to nurture it.

From commenting on your coworkers’ LinkedIn posts and hosting virtual happy hours to attending your mentors’ online webinars, there are plenty of ways to stay in touch both in person and online. While this may feel like a significant amount of effort and energy, I firmly believe it’s time well spent.

The World of Work may be evolving, but the importance of networking remains constant. And more than anything, the COVID-19 pandemic has made everyone realize the value of connecting with others. Whether you’re networking online or in person, following these best practices can help you build successful relationships with colleagues, mentors, and industry peers.

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

Hiring Great People Means Better “Employer Branding”

By Jessica Hollander-Torres

When consultant Simon Barrow introduced the term “employer brand” in 1990, many HR and communications professionals dismissed it as another marketing buzzword. In fact, it wasn’t until a few years later — when job boards went virtual — that the term received widespread attention.

Almost overnight, employees gained access to millions of opportunities across the country, making the labor market even more competitive — and not just for job seekers. Organizations were under increased pressure to attract and retain top talent and their employer brand, defined by Barrow as “the package of functional, economic, and psychological benefits provided by employment,” became the focus.

Today, many companies understand the value of employer branding, and recognize that how they market themselves to prospective employees is as important as how they market themselves to customers.

An effective employer brand:

• Attracts talent: Candidates can be quick to judge a company by its employer brand and the position it holds in the market — and this is especially true in highly competitive sectors. Regardless of the role that needs filling, you want prospective hires to have a clear and complete picture of your organization’s priorities and goals since these can convince them to choose you over a competitor.

• Builds credibility: Similarly, an employer brand can help you retain team members and build loyalty. This can go a long way considering that existing employees are ambassadors for your company. How they perceive your brand and share your perspectives (even in a single LinkedIn post) can foster trust both internally and externally.

That said, establishing an employer brand is easier said than done, and many organizations are still struggling to get it right. So what can you do to develop an employer brand that resonates? Here are a few things to keep in mind as you build out your strategy.

Refine Your Messages

Since the World of Work is constantly evolving, revisiting how you communicate your company’s mission and values is a good first step. Not only should your messaging align with your culture and business vision, but it should also convey who prospective employees will become when they work for you. Your employer brand should inspire everyone — leaders, employees, and candidates — to do better, more meaningful work and contribute to your larger objectives.

Below are just a few examples of how some of the world’s top brands express what they do and who they want to work with:

• Goldman Sachs: “We think who you are makes you better at what you do.”

• Bumble: “Our mission is to create a world where all relationships are healthy and equitable.”

• Everlane: “Dear rule-breakers, questioners, straight-A students who skipped class: We want you.”

• Salesforce: “We harness technologies that revolutionize careers, companies, and the world.”

You should also make sure that the messages you use to attract talent complement those you use to attract consumers — and vice versa. Although intended for different audiences, both are used to communicate your purpose, mission, and culture to people outside the organization. Since it’s likely that these messages will be shared on the same channels (e.g. your website, LinkedIn), they should be consistent.

Impress Your Prospects

Once you’ve got a prospective employee’s attention, it’s critical that they have a positive experience from start to finish. Job seekers aren’t shy about posting online reviews or sharing their opinions about a company’s hiring process. If they have a negative experience, you risk losing that prospect as well as future ones.

First and foremost, your hiring methods should reflect your employer brand. If your company values speed and agility, for example, you shouldn’t needlessly drag out the application process. Likewise, a company that claims to value innovation but uses an outdated HR platform to interact with prospects will send a conflicting message. Also, think through how to release prospects from the interview process if they are not a fit. After all, they may not just be prospective employees, but potential customers, too.

Appreciate Your Employees

As mentioned, a compelling employer brand will attract and retain employees. Achieving a low turnover rate begins at the hiring stage; you need to ensure individuals are the right fit for the role, the team, and the organization as a whole. But the work doesn’t stop there.

Once a position is filled, you need to show that you value individuals’ commitment and dedication. While appreciation can take many forms, from enabling employees to work on projects they enjoy to rewarding their achievements, each action goes a long way towards fostering loyalty and proving that you’ve created an exceptional place to work. Find meaningful ways to celebrate your individual, team and company-wide wins and allow these success stories to permeate your external brand when appropriate.

Measure Your Success

Speaking of employee retention, it’s essential that you figure out the ROI of your employer branding strategy. Metrics such as application rate, source of hire, career site traffic, time to fill, employee satisfaction, and retention rate can all help determine if your employer brand is effective.

Whatever KPIs you choose to track, make sure you’re analyzing them regularly to see what’s working and what’s not — and measure them against key milestones and events. If application rate improves after a new employer brand campaign launches, it’s a good sign your messaging is resonating with the workforce.

At the end of the day, creating a strong employer brand requires three things: developing an authentic corporate culture, consistently communicating your values, and regularly evaluating the employee experience. It’s worth the time and effort: companies that nurture and promote their employer brand are often the ones who attract and retain the world’s top talent.

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

…. 4 years in the row.