CHART OF THE DAY: Is it a good time to find a quality job?
SteveGuess what? CHART OF THE DAY is back for another year of stats, data, and information about work, labor markets, demographics, basketball, and Tom Cruise movies.
For new blog readers, here is a quick reminder of how CHART OF THE DAY works. First, I find what I think is an interesting chart, graph, Venn diagram, or my favorite an exploding Pie chart that helps visualize some data set I find intriguing. I re-publish the chart here with a link back to the original source. Last, I toss out 2 or 3 thoughts on the data's significance or relevance for those of us in the HR, talent, technology, workplace spaces.
Got it? Okay, here goes...
For 2016's first submission courtesy of Business Insider and Gallup, a look at what American's think about the question "Is it a good time or a bad time to find a quality job?"
Some quick thoughts about the data:
1. Gallup has been asking this question in their surveys since 2001, and the latest data from 2015 that shows the percentage of Americans that feel it is a good time to find a quality job sits at 42%, which is just a shade under the series' all-time high of 43% from 2007. Said a little differently, since 2001, according to this survey American's attitudes about the job market conditions have NEVER been more optimistic.
2. Gallup didn't specifically survey people 'actively' looking for work, so we can assume the increased confidence in the labor market is a reflection of the broader population's attitudes. That means just about everyone is feeling if not good, at least relatively better about labor market conditions. Which translates to the likelihood of increased turnover, even for those employees that you thought were 'safe', i.e., not likely to seek opportunities elsewhere. Will 2016 be the year that more people seek greener grass elsewhere? Maybe so.
3. The recent HR technology trend towards developing 'predictive' models for providing insights into things like attrition and retention can provide tools that can possibly help HR leaders in this area. But the key question I would ask my HR technology provider of such predictive tools is the extent to which, if at all, these tools take into account these external trends in worker attitudes. Does the tool adapt to reflect the macro-trends and environmental conditions that exist and impact organizations? Or will your 'predictive' tool really act like more of a 'reactive' tool, failing to adapt quickly enough to changing market conditions? Good questions to ask.
Ok that's it, I'm out.
Happy Tuesday!
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