jobs report

April 2019 Jobs Report: Unemployment Lowest in 50 Years

According to the BLS Jobs Report and national news sources the April 2019 unemployment rate was at it’s lowest in 50 years. The economy added almost 263,000 jobs, bringing unemployment down to 3.6%, exceeding analyst predictions.

As the jobs report states, the some of the largest employment gains since April of 2018 are in professional and business services. On the losses side were electronics, department stores and commercial banking.

Recognize What the Jobs Report Figures Mean for Employers

As reported by the BLS Jobs Report, there are now more jobs open with fewer available job seekers. Employers are competing in a market where the best and brightest job candidates quickly find desired positions. Ask yourself these questions:

  • Will new college graduates bring any value-added skills and qualities to your organization?
  • Is my business willing to be flexible regarding job requirements that new grads may not have yet attained?
  • Are your recruiting and hiring methods keeping pace with the expectations of today’s job candidates?

Add Up the Benefits of Hiring New Grads

There’s now a fresh batch of well-educated college graduates looking forward to embarking on their careers.

  • They bring enthusiasm and motivation to all work sectors.
  • They are interested in learning, tech savvy, and attuned to high-pace settings.
  • As a whole, they are creative, often thriving on group-think focus for problem-solving.
  • They are ‘quick studies,’ able to grasp new material and add fresh perspectives to the work at hand.
  • They are rather new to professional workplace settings, requiring little ‘retraining’ time to adapt to your organization’s culture and methods.

Review Organizational Recruiting and Hiring Policies

Assess your organization’s recruiting tools and practices to assure you are keeping pace with employee interests. Revise if needed as the new batch of college graduates will be attracted to the positions you have when they:

  • Learn that your organization is innovative, encouraging employee ideas and engagement.
  • Hear about the projected growth of your business, with the potential for internal advancement.
  • Realize that you offer a range of benefits and perks that include work flexibility, continuing education, and a positive work/life balance.
  • Become aware of the transparency and mutual respect embedded in your company’s culture.

Hiring Mangers, to ensure that the salary you are offering is competitive, download the 2019 DLC Group Salary Guide for compensation data on the top accounting and financial positions.

Click here to find out how Beacon Resources can make your hiring process easier.

job candidate

Hiring the Right Job Candidate

Hiring the right job candidate can  be one of the biggest challenges for hiring managers.  It is also one of the most important choices that a hiring manager makes.  Incorrect hiring decisions can cost you both monetarily and in wasted time. However, if you hire right the first time, it can be very rewarding.

Below are  some suggestions to increase your odds at finding the right job candidate:

Employer Branding Attracts Job Candidates

In this competitive job market, companies must build a strong employer branding strategy that draws-in the right job candidates.  These days most employers are using social media to highlight their perks and team-building efforts.  A well-publicized positive work environment becomes a calling card for quality job candidates.

Know and Name Your Company’s Culture

Assure that you know your company’s culture. This includes its internal and external interactions with customers, the general public, employees, and business associates. Points to consider are:

  • Interaction style
    • Is it informal or formal?
    • Do managers have an open-door policy?
  • Growth opportunities
    • Is learning encouraged?
    • Is career development supported and rewarded?
  • Customer relationships
    • Does your organization’s philosophy state its desired relationship with consumers?
    • Is customer satisfaction consistently tracked, reported, and improved upon?

The second step is to name these in organizational materials and resources. Use consistent language that is embedded in business value statements, recruitment postings, and performance evaluations. Examples include:

  • Managers are routinely available and open to suggestions and fresh ideas.
  • Our company values growth from within.
  • Customers are a vital part of our company’s community. We learn and grow from their experiences and feedback.

Be Tech Savvy and Articulate in Interviews

Use up-to-date technology and recruiting resources to hone in on your best job candidate. This can mean upgrading your own skills or creating the opportunity within human resources.

Review and revise current interview information-gathering procedures to assure interviews provide you with:

  • The type of employment situation each job candidate is seeking.
  • The skill sets candidates have, including those that are unique or not directly applicable to the job.
  • Opportunity for applicants to ask questions. This lets you know where candidates’ interests lie. When you offer transparent, engaging responses, it lets candidates know that their insights are welcomed and encouraged.

 Partner-up with an Accounting & Finance Staffing Firm.

A top rated accounting and finance staffing agency like Beacon Resources knows the ins-and-outs of the accounting and finance candidate market.  Beacon Resources has a sizable database of job seekers, including job candidates who you won’t have access to by checking the job boards.