Home Authors Posts by Todd Palmer
One of the biggest costs to any business is employee turnover. Regardless of the industry you are in, there is a significant cost to losing employees (often to competitors), recruiting potential new employees, screening, testing and evaluating the applicants, conducting multiple interviews, making job offers and sometimes counter-offers, onboarding new hires, and often many months of training.
Career Builder verified last week what many local manufacturers already know — there is a severe lack of manufacturing talent seeking new jobs in Metro Detroit. The Career Builder Active Candidate Ratio shows that there are 4 jobs for every 1 machinist in Metro Detroit.
The same week when increased unemployment numbers were issued by the U.S. Labor Department, a Harris Interactive/CareerBuilder survey sent a much different message to the nation's businesses.
It has been discovered that recently appointed Yahoo! CEO Scott Thompson lied about his educational background on his resume. The Yahoo! Board Member who vetted Thompson has since decided not to stand for re-election to the Board, while Thompson has refused to leave amid calls for his resignation.
The recently released unemployment numbers, showing a slight decrease to 8.2% in March 2012 from 8.3% the month before, are filled with false optimism. First of all, that extends the longest streak of 8%-plus unemployment since the Great Depression. Secondly, the U.S. economy hasn’t been below 8% unemployment since January 2009 and once you delve into the Labor Participation Rate, it is not an optimistic picture.
The tide is turning, the shift in mindset is here and now. The North American workforce believes that things are getting better, and employees who have been holding onto the job they currently have-no matter how much they hate their job-are now open to looking at new job opportunities.
Would you be shocked if I told you that that manufacturing employment is on the rise in 2012?