We believe that understanding the microeconomics of GDP is essential for HR professionals. It provides crucial insights into economic drivers that directly influence talent acquisition, compensation trends, and organizational strategy. By grasping how local economic factors shape labor markets, HR can make informed, data-driven decisions that align workforce capabilities with economic realities, driving business growth and resilience. The ability to navigate shifts in GDP is what enables HR to maintain a competitive edge.
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As the economic climate evolves, so does the battleground for top talent! Which is why it's key to understand the most effective competitive pay strategies for the coming year to strike that crucial balance between market trends, budget constraints, and employee needs. Ready to retain your edge in the labor market? Let's dig into how a strategic approach to compensation can drive organizational success. #CompetitivePay #TalentRetention #MondoInsights
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Our latest report on workforce trends you should be monitoring is live! Check it out below ⬇
As we move through 2024, businesses face economic uncertainty, election cycles and a competitive talent landscape. While hiring may have slowed, the demand for key skills has not. In fact, compensation trends indicate growth, with pay increases projected to outpace pre-pandemic levels into 2025. To meet these challenges, talent leaders must rethink their workforce strategies. At Sevenstep, we help businesses tackle these challenges by providing data-driven talent strategies that align compensation, workforce skills and emerging trends. Read our latest perspectives and expertise to help you adapt and thrive:https://bit.ly/3ZH0WPr #WorkforceTrends | #RPO | #MSP | #SevenstepRoundup
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Check out our latest roundup and highlights! #SevenstepRoundup
As we move through 2024, businesses face economic uncertainty, election cycles and a competitive talent landscape. While hiring may have slowed, the demand for key skills has not. In fact, compensation trends indicate growth, with pay increases projected to outpace pre-pandemic levels into 2025. To meet these challenges, talent leaders must rethink their workforce strategies. At Sevenstep, we help businesses tackle these challenges by providing data-driven talent strategies that align compensation, workforce skills and emerging trends. Read our latest perspectives and expertise to help you adapt and thrive:https://bit.ly/3ZH0WPr #WorkforceTrends | #RPO | #MSP | #SevenstepRoundup
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What will it take to secure top talent? Connecting with Sevenstep where we're your people! Check out the latest #SevenstepRoundup to learn more.
As we move through 2024, businesses face economic uncertainty, election cycles and a competitive talent landscape. While hiring may have slowed, the demand for key skills has not. In fact, compensation trends indicate growth, with pay increases projected to outpace pre-pandemic levels into 2025. To meet these challenges, talent leaders must rethink their workforce strategies. At Sevenstep, we help businesses tackle these challenges by providing data-driven talent strategies that align compensation, workforce skills and emerging trends. Read our latest perspectives and expertise to help you adapt and thrive:https://bit.ly/3ZH0WPr #WorkforceTrends | #RPO | #MSP | #SevenstepRoundup
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Hiring may be slowing, but the demand for key skills is surging, particularly in areas critical for sustainability and innovation. Compensation trends are on the rise, with pay increases projected to surpass pre-pandemic levels into 2025. To thrive against these changes, talent leaders must rethink their workforce strategies. At Sevenstep, we’re committed to helping businesses adapt by leveraging data-driven talent strategies that align with evolving compensation, skills, and trends. Check out our latest Sevenstep Roundup: Q3 2024
As we move through 2024, businesses face economic uncertainty, election cycles and a competitive talent landscape. While hiring may have slowed, the demand for key skills has not. In fact, compensation trends indicate growth, with pay increases projected to outpace pre-pandemic levels into 2025. To meet these challenges, talent leaders must rethink their workforce strategies. At Sevenstep, we help businesses tackle these challenges by providing data-driven talent strategies that align compensation, workforce skills and emerging trends. Read our latest perspectives and expertise to help you adapt and thrive:https://bit.ly/3ZH0WPr #WorkforceTrends | #RPO | #MSP | #SevenstepRoundup
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As we move through 2024, businesses face economic uncertainty, election cycles and a competitive talent landscape. While hiring may have slowed, the demand for key skills has not. In fact, compensation trends indicate growth, with pay increases projected to outpace pre-pandemic levels into 2025. To meet these challenges, talent leaders must rethink their workforce strategies. At Sevenstep, we help businesses tackle these challenges by providing data-driven talent strategies that align compensation, workforce skills and emerging trends. Read our latest perspectives and expertise to help you adapt and thrive:https://bit.ly/3ZH0WPr #WorkforceTrends | #RPO | #MSP | #SevenstepRoundup
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We partnered with HRO Today on a flash report to look at how the US economy will shape workforce planning in 2024, with some eye-opening results: 66% of US HR professionals claim economic forecasts have an impact on staffing levels 💼 51% of US HR professionals stated that the economic environment in which their organisation operates is challenging 🌐 While 51% of US HR professionals expected a moderate increase in staffing levels in their organisations in 2024 📈 Keeping an eye on these trends can help those of us in the recruitment industry navigate our own organisations strategies, so if you’re interested in knowing more, read the report below: #economy #workforceplanning #rpo #talentsolutions
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The Gig Economy has shifted from a niche concept to a fundamental aspect of the global labor market, significantly altering traditional employment models. As this trend continues to grow, this insightful article explores the new challenges and opportunities that Human Resources professionals will encounter as they manage an increasingly diverse, decentralized and dynamic workforce and how these changes may redefine employment and the implications for HR practices.
The Gig Economy: Redefining Employment And HR Practices
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Explore the latest labor market trends for 2024! Forbes has compiled a comprehensive list covering key insights into the future of work. 📈 #LaborMarket #2024Trends
Council Post: 20 Labor Market Trends To Watch For In 2024
forbes.com
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Workforce analytics is a powerful tool that leverages data to help organizations make informed decisions about their human capital management. This field primarily uses metrics such as employee turnover rates, absenteeism, productivity levels, and employee engagement scores to provide insights into workforce dynamics. Advanced analyses might include predictive modeling to forecast hiring needs or to identify factors that influence employee retention. However, a common pitfall in workforce analytics is its heavy reliance on internal data alone. While such data is invaluable, it often lacks external context, which can lead to skewed interpretations and missed strategic opportunities. Unlike other factors of production, employees have a choice to work for the organization as well as a choice to bring their talent to work, or not. These decisions are often predicated by their external options. So, to truly harness the power of workforce analytics, it is crucial to integrate internal metrics with external labour market data, thereby enriching the insights and aiding in more balanced, informed decision-making processes. FYT Consulting Civil Service College Michael Lee FYT Jeremy Poon Zhengyi Tan Singapore National Employers Federation (SNEF) Peiling Liew Huda Osman Kelic Chooi Admond Lee Summer Kang Shawn Chia Chee Hui Wen, IHRP-CP https://lnkd.in/gQS3CMc6
Giving context to HR Metrics with Labour Market data
fytconsultants.com
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