Benchmark Search Hiring Insights – July 2023
I hope you’re having a wonderful summer filled with lots of sunshine and fresh air. As a recruiter, how can I help you get even more time to yourself?
In this month’s newsletter, labor hoarding, why worker time is your most important resource (and why it deserves protection), and how to compete with the hundreds of thousands of jobs competing with your open role.
Unemployment Update
The national unemployment rate declined to 3.6% while the unemployment for college degreed professionals declined to 2.0%, as reported by the BLS.
Employers expanded their payrolls by 209,000 jobs in June. While this number is lower than economists’ expectations, June’s growth is still higher than the average job growth for the 5 years pre-pandemic (186,000). Notable job gains included government (60k), healthcare (41k), professional and business services (21k) and leisure and hospitality (21k).
There are currently 1.6 job openings for every unemployed worker.
Candidate Spotlight:
ACCOUNTING
Assistant Controller
- Accounting Degree, 10+ years of experience
- Operational Accounting, GAAP, IFRS
- Cash flow analysis, forecasting, and budgeting
Senior Accounting Manager
- MS and BS in Accounting
- CPA
- 10+ years of accounting experience
Financial Reporting Manager
- Public Combo
- CPA
- Oil and Gas
Corporate Accounting Manager
- Accounting Degree, CPA
- 8+ years of accounting experience
- Middle Market experience
Accounting Manager
- Masters, SMU
- 4 busy seasons with KPMG
- Largest client – $7B revenues
Senior Accountant
- CPA, Masters, Texas A&M
- 3.5 years Big4 Tax, focus in international tax
- Transition out of tax and into accounting/finance
Senior Auditor
- 2+ years of public accounting experience
- CPA
- Financial services
Senior Accountant
- Accounting Degree
- 2 Public Accounting busy seasons
- Experience with both private and public industries
Property Accountant
- MBA in Data Analytics
- BBA in Finance, Accounting Minor
- 2 years of property accounting experience
FINANCE
Senior Finance Director
- Public/Combo
- CPA
- Healthcare
Senior Finance Manager
- Finance Degree and pursuing MBA in Accounting
- 9+ years experience
- Middle Market experience
Senior Financial Analyst
- MBA in Finance
- BBA in Accounting and Marketing
- 5 years; Restaurant and multi-location
Senior Associate
- Masters, University of Mississippi
- 2 busy seasons with KPMG, with PE clients
- Data analytics skills to transition into an industry (financial analysis focused) role
Financial Analyst
- BBA in Finance
- 2 years budgets and forecasts
- Advanced Excel
Don’t hang on to poor-performing employees
I’ve heard the term “labor hoarding” quite a few times recently. In the service industry, where it’s been nearly impossible to staff a business fully since the pandemic, managers are doing whatever they can not to fire employees, and that mentality is bleeding over to the white-collar world as well.
But hanging onto a poor-performing employee is not necessarily a smart tactic. I get the fear that you won’t be able to replace a person you let go, but that’s what I am here for. As a recruiter I can help you strategize a hiring tactic and hone in on the best possible candidates. You shouldn’t have to settle for mediocre or worse.
Respecting your most important resource: worker time
“Companies spend their employees’ time and attention as if there was an infinite supply of both. As if they cost nothing. Yet employees’ time and attention are among the scarcest resources we have.” That’s Jason Fried, founder of 37signals and spokesperson for general worker happiness.
Fried argues that companies spend so much time, money and energy guarding their intellectual property, their data, their brand and their products, but often disregard their most important asset: people. Specifically, the value of their time.
Fried’s company has a famous aversion to meetings, which he thinks of as a waste of time. For a lot of the companies I work with in my role as President, however, meetings are integral to collaboration and work.
There’s a balance, of course. And every company has to find it.
There are hundreds of thousands of open jobs competing with yours
There are hundreds of thousands of open jobs competing with yours
Analysts estimated there would be 195K new jobs in May, but guess what? There ended up being 339K, according to the Bureau of Labor Statistics.
If one of these hundreds of thousands of open roles is a key role at your business, make sure you have the right support to line up optimal candidates.
As a recruiter, I have a keen eye and a sixth sense for alignment between job seekers and job givers. I also have the network and the experience to bring those candidates to you in a way that minimizes your workload — and that you can feel confident about.
t’s set up a time to chat if you’d like to launch a search.
