Tech Employment Opportunities: Still Ranked Near the Top in U.S.

When you compare the number of job openings available, the overall job satisfaction rating, and the rate of remuneration, skilled technical jobs are among the leaders.  Why?

Tech-Jobs-Magnifyer-on-Binary-Code

Beyond Compensation

First, let’s discuss this topic of salary.  The top 10 Tech Jobs right now have a median pay-rate of between 68k and 125k.  When you average the medians for those ten jobs it comes in at a nice $98,250 per year.  It would be hard for most human beings to even be dissatisfied with a mere $68,000 per year.

Those Top 10 jobs in technology, according to a July/2017 summary, released in early August were:

Job Title Median Salary Open Positions Percent of Job Satisfaction
1.  Solution Architect 125k 2,200 74 %
2.  DevOps Engineer 110k 2,700 84 %
3.  Data Scientist 110k 4,200 88 %
4.  Data Engineer 106k 2,600 86 %
5.  Software Engineer 101k 17,000 70 %
6. Database Admin 93K 2,900 76 %
7.  UX Designer 92k 1,700 80 %
8.  QA Manager 92k 2,500 74 %
9.  Mobil App Developer 85k 2,100 74 %
10. Sys Admin 68K 4,000 74%

Clearly, these jobs are in demand; people are being compensated appropriately; and, most importantly, people feel that their job has purpose, and that they are appreciated for performing it.  The truth is, there are large factions of workers — whole sectors of our economy — where people never reach a 50 percent job satisfaction rate.  There is something inevitable about the advancement of technology, which in turn, offers a greater sense of job security in an ever-changing market.

Ubiquity

Why are there so many jobs available?  It is because older companies (which did not traditionally consider themselves data-centric) are now finding themselves in need of the same tools that modern businesses have already adopted. In fact, without them, they just can’t stay competitive.  Jobs in the technology sector will continue to flourish as the holdouts come to terms with modern business practices.

More importantly, our economy is slowly, yet inevitably, switching to an information-based economic model.  Automation is eliminating many manual labor jobs, making it more difficult for those in any position of political influence to reinstate manufacturing jobs which no longer service a purpose.

STEM

Science, Technology, Engineering, and Mathematics (STEM) are now dominating almost all professions.  An auto mechanic must be computer savvy in order to operate the diagnostic equipment.  An outside sales rep can’t simply rely on a clipboard and carbon paper forms, because without a smart phone, tablet, or laptop, that person is hopelessly outclassed by their competitor.

Ordinary jobs are no longer “ordinary”, so the sooner we get over that notion the better it’s going to be for all of us.  If you’re currently in a job that doesn’t employ technology regularly, take a technology course (in school, online, or even self-taught) because every skill you learn makes you more useful and will help keep you employed until you’re ready to retire.

No one wants to be replaced because they went to their boss with a great idea, but when the boss asked them to create a “PowerPoint presentation” for the managers meeting they said “A power-what?”

Tech-Jobs-Man-working-on-computer-with-graphic-imagages

The Takeaway

The demand for people with any sort of technical skill is high, but the number of graduates has seen some fluctuation in recent years.  However, someone with a two or three year community college degree — or even someone who is completely self-taught, yet possesses an excellent skills level – will still possess an add value in the job market.

There are currently 627,000 unfilled technology jobs across all sectors of the economy (USA Today, April/2017).  They might be in Healthcare, Banking, Farming, Retail, Real Estate, or anything else you can imagine.

When the whole economy is looking at an unemployment rate of over 5 percent, and the tech sector shows less than half of that amount, it is time to upgrade your skills in order to maintain your relevance in both the job market or as an existing employee.

 

Fred Coon, CEO 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

The Multifaceted Benefits of Apprenticeship Programs

Why Apprenticeships?

Apprenticeship programs are a type of paid learning strategy which merges on-the-job-training with classroom directives.  The good news is that this method has demonstrated a positive track-record of successfully teaching workers highly sought job skills.

apprenticeship-programs-group-of-workers-at-laptopJobs, especially middle-wage jobs, are returning to the employment market after being drastically reduced during the Great Recession of last decade. However, the workforce for these jobs is simultaneously aging and retiring, leaving numerous new jobs without many trained replacements. A growing trend in the United States is to incorporate apprenticeship programs to help train new employees and potentially save a great deal of money for companies in the process.

Georgetown University Center on Education and the Workforce recently indicated that the United States is anticipating a shortage of 5 million technically certified and credentialed workers by the year 2020, as reported by Sarah Ayres Steinberg and Ben Schwartz, authors of “The Bottom Line: Apprenticeships Are Good for Business”. They continued that approximately half of U.S. executives employed at large-sized companies expected to have a shortage of competent workers within the next one to two years.  Predictably, employee retention is of high importance to competing companies in this tight job market; which is exactly where the concept of apprenticeships enters the equation.

Benefits to Workers and Employers

For many who do not understand how an apprenticeship program works, the fear of excess cost can be a major hindrance. Many employers are concerned that after spending resources to train new employees, these same employees may leave to work elsewhere, resulting in an ultimate loss in time and money for the company.

According to Angela Hanks, Associate Director for Workforce Development Policy, and Ethan Gurwitz, Research Associate with the Center’s Economic Policy Team, a 2012 study indicated that employers have been known to retain approximately 91 percent of employees who successfully completed apprenticeship programs for the same company.  Additional studies have indicated that employees who have received apprenticeship-programs-group-of-employees_smilingtheir training through apprenticeship programs have been happier at their jobs; as properly trained employees tend to have lower levels of frustration and higher levels of engagement, resulting in workers remaining with their employers for longer.

The turnover rate following apprenticeship training is much less than traditional hiring, which many experts also believe is the result of employees feeling more loyal to an employer who would take the time and money to train them.  Moreover, individuals who participate in apprenticeships are known to command greater earning power over the course of their careers than non-apprentices.

Another benefit of apprenticeship programs is the ability to keep a steady supply of well-trained employees who have been taught according the specifications of your organization.  These programs allow for tailored training so that new employees will be learning procedures in such a way that meets the specific needs of the company.

Community Advantages

“Apprenticeship programs are also an effective government investment. In 2013, Washington State projected that for every $1 it spent on apprenticeship, taxpayers would see a $23 return on investment,” noted Hanks and Gurwitz.

According to one Canadian study, employers actually earned $1.47 back for every $1 invested in an apprenticeship program. In November 2016, a U.S. Department of Commerce study examined the investment return of apprenticeships at 13 firms. Of the firms studied, each discovered that the program offered a definitive value as well as particular benefits which more than warranted the costs, resources, and commitments made toward the trained apprentices.

Conclusion

Finally, Hanks and Gurwitz indicated that companies who invest resources in apprenticeship programs are dually investing in the middle skills that are so important to the current and upcoming job market.  The restoration of middle-wage jobs is a sign of increasing and rebounding employer demand; indicating that now is the best time to develop skills with moderate earning-power for greater stability, retention, and ultimate earning potential for the long haul.

Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

Five Trends That Are Impacting Career Choices

Choosing a career is one of the most important decisions we will make, as it affects and determines so many aspects of our lives. We all havetrends-that-impact-career-choices-marble-hitting-other-marbles specific talents and interests that will lead us toward certain professions, but we must also be mindful of the external influences that are projecting us in a certain direction. It is important that we keep an open mind to what attracts us to certain fields and not others.  Sometimes these choices are based on personal decisions and inclinations; other times they stem from peripheral circumstances, such as economy, technological advances, and sociological changes.

Therefore, when considering different career options, it is important to also study the societal trends that may affect our choices, both now and down the road.

1.   Technology growth

It’s no secret that technology is growing faster than many of us can keep up with, and this continued growth is also resulting in more jobs in the United States. Consistent advances in technology are not only ensuring new jobs requiring additional skills in specific industries, but also within their education and training. Technology has also opened the doors for telecommuting, offering employees the option of maintaining high paying jobs while working from the comfort of their own homes.

2.   Globalization

When it comes to remote work or telecommuting jobs, a person does not have to be in the United States to “work” in the U.S. or any other country, for that matter. While this opens the market for job seekers to work for anyone from their own home, it also puts a great deal more competitive pressure on organizations. Companies will be looking for individuals who grasp the need for innovative marketing and can contribute to the business agenda without boundaries.

3.   Downsizing

While younger workers are steadily replacing the baby boomers who are now reaching retirement age and leaving the workforce, there are a number of jobs currently held by baby boomers that may become obsolete. According to 247WallSt.com, jobs such as Desktop Publisher, Communications Equipment Operator, and Textile Machine Setter/Operator, for example, are steadily on the decline.  As these employees retire, companies are turning more toward technology, making many positions previously held by skilled workers either outdated or unnecessary. So when considering career choices, it is important to research which traditional careers which may be severely impacted by baby boomers leaving the work force in conjunction with new technological advances.

4.   Improved medicine and delayed retirement

This is a two-layered trend which is impacting career choices right now.  Life expectancy has noticeably increased within the last 70 years. In fact, in 1945, the average life expectancy was 66 years, as opposed to 2015 when the standard life expectancy was recorded at 79 years. Today, people are living longer due to further education in nutrition and wellness as well as technological advances, all of which have led to trends-that-impact-career-choices-glasses-on-keyboardimproved medicine. This means there are a greater overall number of people in the workforce, as individuals are working into the later years of their life; sometimes by choice, and other times out of necessity.

“The current average retirement age is 62—but new college graduates won’t be able to retire until age 75, according to a new study from NerdWallet,” wrote Kate Ashford in the Forbes article The New Retirement Age? 75, Study Says.

So while people may generally be living longer, many individuals will need to work at least a decade longer than the current retirement age due to the high cost of education, enormous student loans, and increased living costs. This may affect career choices in two ways:  Some will put a heavier relevance on a generous paycheck to counteract the anticipation of working well past standard retirement age.  Others may more acceptingly consider that since they are going to be working further into their golden years, it would be advantageous to decide upon a fulfilling career they will ultimately enjoy.

However, it could also be argued that future up-and-comers may find fewer available jobs openings in years to come, as older workers remain in their positions longer.

5.   Social Media Marketing

This is perhaps one of the fastest growing career trends. Social media has become a cornerstone to the survival and advertising success of any business, and finding individuals who know their way around this marketing platform is crucial. According to an article on DigitalTrends.com, the average 25 to 54 year old checks their social media accounts approximately 17 times per hour, resulting in an average of 4.7 hours a day engaged in online communities.  Therefore, Americans are exposed to the most amount of advertizing while scrolling their social media newsfeeds.  Consequently, the ability to stay ahead of the competition on sites such as Facebook, Twitter, Instagram, and LinkedIn is a valuable tool that companies will continue to look for in their employees.

In Conclusion

With enough patience, insight, and inquisitive research, you can begin to assess and ascertain how current societal trends in business, technology, employment, and even medicine, will ultimately impact your own particular career choice.

 

Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

The Top Current Jobs in Business

What’s in Your Future?

Five sectors in the U.S. economy are going to drive more than 50 percent of the growth of new jobs in the next four years.  That’s in excess of 10,000,000 of the projected jobs by the end of 2020, and none of them contribute to economic growth.  How is it possible?

top-jobs-in-business-professional-group-pointingThese five sectors showing occupational growth are professional services, business services, social assistance, healthcare, and construction, indicating that service-based jobs are continuing an upward trend.

All five of these areas are noted for being indicators of economic growth in the technical sector.  It is clear that the job market will be calling for employees with Bachelor Degrees, Associates Degrees, Technical Degrees, and other STEM-based degrees, in the near future.

However, as we discover this information, we hope we haven’t missed an important window of opportunity.  Examine this data from the Bureau of Labor Statistics (BLS).  By 2022, it is projected that 25.6 percent of our work force will be aged 55 or older, a point we have never reached in US history to date.  The bulk (63.1 percent) of our work force will consist of people who are in the middle of their careers and not expected to make any significant changes.  The replacement workers, age 16 to 24, comprise only 11 percent of the workforce, which presents a problem.

We are not producing “replacement workers” fast enough to bridge the gap, and we potentially face a shortfall in the number of available workers at a time when businesses are going to be desperate for growth.

If you’re just starting out in your college education, and you’re looking at a business or technical career, that is an immense relief to employers.  You are going to be desperately needed when all those approaching retirement are finally separated from the job market.

Here are some of the areas you should focus on:

  • Advertising
  • Business operations specialists
  • Computer related occupations
  • Engineering
  • Financial occupations
  • Management occupations
  • Marketing
  • Promotion
  • Public relations
  • Sales and support services
  • Sales management and supervisors

top-jobs-in-business-outline-of-peopleComputer-related fields will provide a large portion of jobs (approximately 860,000), and management occupations will provide another approximate 200,000 positions, but none of the above listed categories are predicted to fall below 100,000 positions.

As it stands right now, when looking at all jobs on a city by city basis, hiring requirements are running between the mid-forties and the mid-fifties (percentage wise) where they stipulate a minimum of a Bachelor Degree.  That’s right…half of all the jobs require a college degree nowadays, and this, too, is a new record in our history.

Of course, in a world where babies grow up with a rattle in one hand and a tablet PC or an iPhone in the other hand, more people are technically competent now than at any other time in our history.  So what sort of jobs do we have for them?

  • Analytics Manager STEM & Tech Exp.
  • Audit Manager A.
  • Data Scientist A., Ph.D.
  • Engagement Manager Tech Degree
  • HR Manager A.
  • Mobile Developer A. & Tech Exp. Product Manager Tech Degree
  • Software Engineer C.S./Tech Degree Solutions Architect B.C.S./Tech Degree Tax Manager B.A.

The Takeaway

So, in consideration of this gap, there has never been a more important time to ascertain your plans as a job seeker. If you want to be in the construction trade, there will be plenty of great jobs for you.  The nursing profession is set to offer approximately 400,000 jobs, as well.

If, however, your interest is in business and technology, you need to take the time right now to decide where you are headed.  The biggest, most powerful ship in the world can churn the water into foam, but most assuredly it will never go anywhere important unless it also has a rudder to give it some direction.

Fred Coon, CEO

 

Take your job search and LinkedIn profile to new levels and achieve your career goals with LinkedInSecrets.us. Leveraging LinkedIn for Job Search Success 2015 will transform how you use LinkedIn on a daily basis and create a profile that will WOW recruiters and hiring managers.

Reentering the Workforce After a Long Absence

The reasons why an individual may leave the workforce indefinitely are multi-faceted.  The most common include maternity/paternity, palliative care for a sick or elderly relative, raising children, additional education, starting a business, stress-related leave, or simply taking time for creative endeavors.

reentering-the-workforce-long-corridorA parting can take place in an official capacity, such as a sabbatical, while some workers may choose an early retirement.  Yet, while the reasons for prematurely discontinuing your employment may vary, the rationales which motivate one to return to the workforce also range in basis.

 Voluntary Return

In some cases, it’s simply a matter of daily monotony that attracts the willfully unemployed back into the workforce again.  Children reach adulthood, personal goals were reached, retirement was unfulfilling, or various circumstances may have left you seeking additional purpose in your life.

Obligatory Return

In a situation where there is a compulsory decision to return to work for financial reasons, for instance, your options may be more limited; however a great deal of the same logic applies.  It’s possible that when you planned your sabbatical or early retirement, you didn’t properly anticipate certain life circumstances that may have caused you personal economic strain.  However, don’t despair because this is an obvious and common concern, which can also be met with an additional sense of fulfillment if approached in the correct capacity.

Consider the Climate

Businesses are losing an immense amount of talent in a short span of time due to the large group of baby-boomers who have reached retirement age, and employers are scrambling to find their replacements.  In most cases an early-retiree is welcomed back with open arms, and possibly, a certain sense of relief.  These returned employees have expertise; they already know the ropes, and can work autonomously.  If these experienced employees choose to spend a few extra years training the newer recruits for future leadership roles, then that is also a tremendous bonus for any company.

Therefore, whatever your line of work or reason for leaving, don’t necessarily look upon your absence as a hindrance.  For every company looking to hire the twenty-something college graduate with no actual hands-on experience, there are countless employers who appreciate maturity and a longer range of experience, despite some work history gaps; so it’s important to maintain your confidence, and focus on these types of opportunities.

First Presentation

Chances are, if you have been out of the workforce for a substantial length of time you may not even have an electronic résumé.  If this is the case, focus on converting your hard copy paper resume into a format which modern employers can handle.  Remember that the long gaps in your work history can be addressed during an interview, yet any volunteer experience you may have acquired during your absence should certainly be included; as good employers appreciate a well-rounded job candidate.

If you furthered your education and earned an MBA or any other degree or certification which would be valuable in your chosen field, no further explanation is necessary.  An employer will be happy to speak to somebody who’s interested in expanding upon their education.

Spotlight your accomplishments, your abilities, and how they are relevant to the job you’re seeking.  If your extended absence was due to strictly personal reasons, adding “further details available on request” is more than sufficient, and no added concentration is necessary.  If your initial reason for leaving the workforce was to raise children or care for a family member, it’s important to remember that you are not the first person to make this decision and you certainly won’t be the last.  A modern and sensible employer is aware of this and should be respectful of this fact.

Updated Skills

If your absence only spanned a few years, your job skills are most likely still valid, however, you may find that you need to brush up on certain proficiencies.  Nowadays, five years can seem more like ten due to the speed at which workplaces are evolving, due mostly to technological advancements and changes in communication techniques. Try looking into training webinars, online tutorials, and adult education programs in your area.

If you have been unemployed for close to ten years or longer, then it is well worth your time to investigate many of the free online schools (including some fine ivy-league colleges that would surprise you) to get a new certification, or even a degree.

If you have been out of the workforce for a considerable amount of time, but walk in to an interview with a freshly minted diploma or certificate, you are demonstrating that you are self-directed, well-versed in your field, and ready to work.

Game-Changers

What is extremely important for candidates who have been out of the job-seeking world for ten years or longer to remember is that the methods for seeking employment have changed drastically.  While individuals were utilizing online job searching techniques ten years ago, there is a possibility you have never personally experienced these changes, especially if you spent many years working for the same employer before your departure.

There is currently an expansive array of employment websites to register with as well as mobile apps to get you started on your search.  Luckily, they are not difficult to find, and a little extra time searching the internet should direct you toward the right path.

Moreover, don’t forget to set up a LinkedIn profile, since employers in recent years have been relying heavily on LinkedIn as a viable recruitment source.  This will also give you the opportunity to network toward the job you want.  In addition to listing your skills and experience, be sure to display on your profile that you are seeking employment.

Starting Out

In all cases, seeking out a reputable employment agency or career counselor can also help you reenter the work force through proper coaching and correct representation of your talents.  Inform them of your skills, and try out some of their assessments.  Another important part of their job is that they can reveal overlapping areas of interest that can lead to a new career you haven’t even reentering-the-workforce-multi-faceted-candidate-collageconsidered.

Consider accepting a part-time or temporary position through an employment agency to help you acclimate yourself back into the working world, and don’t be afraid to agree to a temporary position that is outside of your original line of work. Temp assignments can be short-term and consecutive, and may even offer you the opportunity to discover a new endeavor you never realized you had a talent for.

If this is the case, the agency can help you focus on acquiring full-time employment in the particular area you are interested in.  You can build credibility with a particular employer, while seeking out the full-time position you want.  You can also attain a reputation as a reliable worker for the employment agency, and they, in turn, will find you better quality opportunities once you have proven yourself as a valuable, dependable worker.

Additionally, a career counselor or recruiter can help you brush up on your interview skills; which will be invaluable when seeking employment after a long break.  Job interviews can be nerve-wracking for the job-seekers who have never left the market, let alone for someone returning from a long absence of non-employment.  This is also something you can do at home by reviewing and answering practice questions, and even video-taping your replies to assist you in smoothing out your verbal (and non-verbal) communication.

In the Meantime

While we may be living in a digital world, especially in terms of job-hunting and employment in general, there is still much to be achieved through the fading art of making in-person connections.  Print up some business cards and keep them handy.  On the occasion you encounter someone with a connection to your field of interest, whether at a dinner party or walking through a shopping mall, don’t hesitate to hand out your card.

The Takeaway

Regardless of the reason you left the workforce to begin with, or your reason for returning, the world is full of opportunities.  Approaching this new stage in your life with a smile and an upbeat attitude will get you there faster. Positivity is a very attractive attitude to employers — and people in general — and quite possibly, one of those people may just lead you to your perfect job after all these years.

By Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

Report Shows Apple™ May Be Curtailing Recruitment

Apple Inc. is one of the biggest and most innovative technology companies in the world, so it’s understandable why most people look to land a job with the tech giant. After all, it feels great to be associated with a respected and prestigious organization such as Apple, in addition to the employment perks that come with it.

However, if you are one of the many who have been trying your luck at a position with Apple, you should probably consider looking elsewhere, at least for the time-being. According to recent reports by leading technology-driven news source, VentureBeat, Apple has been laying off its contract recruiters. In fact, partnerships with almost all of their contract recruiters are revoked as of lately, and this also includes a few full-time recruiters.

If these reports are true, around 100 employees within the tech giant’s recruitment teams would be affected by these changes. Sources close to the matter believe the company’s decision to curtail its recruitment comes after the re-evaluation of its Empty-office-cube-spacesbusiness activities and plans. This means that additional hiring will be recommenced only after some new projects are in operation.

The incentive plan of  40 percent of the new employee’s basic salary as a bonus for recruiters has also been revised by Apple.  This incentive has now been cut down to 10 – 15 percent per new hire.  Sources also have reason to believe these bonuses would not be in place for good in the upcoming future.

The Jobs at Apple website also shows a noticeable shortage of ads for recruiter positions. This raises the question: Why has Apple decided to decelerate its recruitment efforts? While the exact reason still remains a mystery, one possibility could be the tech giant’s lackluster business performance for the second fiscal quarter.

In its latest quarterly report, Apple has uncovered the first drop in revenue in 13 years. This decline in sales and profit has much to do with the slow sales of its flagship iPhone, which is unarguably the tech giant’s key revenue generator. Experts indicate the year-over-year decline in iPhone shipments is expected to continue, consequently causing a decline in the company’s total revenue.

Apple chart 2016

Graph published by Arstechnica.com shows Apple’s revenue decrease in Q2 2016 due to lagging iPhone, iPad, and Mac sales.

Not much relief is expected in the upcoming months either.  According to a Bloomberg Technology report of April 26, 2016, Apple’s consecutive 51 quarter stride of sales growth is over, and development may not resume until late 2016. Consequently, cutbacks on iPhone production are also expected. Furthermore, for the first time since it was launched back in 2007, it is expected that the iPhone may actually underperform in the smartphone market, according to Ming-Chi hand-holding-mobile-phoneKuo, prominent KGI securities analyst.  Consequently, it is logical to presume that Apple decided to slow down its recruitment process because of the company’s recent lull in advancement, at least until the launch of the iPhone 7.

These recruitment cuts are also likely to affect jobs on the operational level, perhaps even more deeply than leadership positions. Let’s take Apple’s rumored car project (aka “Project Titan”), for example. Notwithstanding reports of recruitment restraints, the tech giant originally hired many of the engineers and related personnel for its car project from some of the most renowned automotive companies, such as General Motors, Tesla and Ford.  Although since resumed, recruitment for this project was also put on hold earlier this year due to a major personnel change, according to an original report in The Wall Street Journal.  However, on a positive note, Apple’s efforts seem to be back in force on “Project Titan”, and it is speculated that the car may be ready to debut by the year 2020, although still later than anticipated.

Ultimately, only time will tell the actual long-term impact that the decrease in contract recruitment and lagging sales will directly have on Apple’s internal job market.  However, as a giant in their industry, we can only surmise that the company will continue to find a way to innovate new prospects and opportunities.  Nevertheless, it may be wise to redirect your job-seeking efforts towards a more certain future.

 

By Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

Companies Not Focused on Eligible Retirees

SC&C Companies Need to Recognize Retiring Work ForceBusinesses are in trouble and they don’t even know it! HR professionals don’t even recognize the severity of the problem; worse yet, most don’t even consider it a problem. The majority of them are completely oblivious and wouldn’t know what a Clarion call was if it came up and kicked them in the shins. And ignoring it is not going to make it go away.

In 2002 people aged 55 years or older comprised only 14 percent of our work force. By 2012 that figure was up to 21 percent. By 2022 it is fully expected that more than a quarter of our work force (26 percent) will be over the age of 55.

Facing a wave of retirements, most businesses have no idea what is at stake TREND WATCH

Businesses Pushing the Retirement Age

We are losing wisdom, intelligence, and experience faster than it can be replaced. More and more of these workers are being forced to work beyond 65 years of age because we simply can’t replace them. Gone are the days when we could expect a gold watch and two or three decades of sitting on the dock up at the cottage, watching pastoral sunsets.

My father made his last orbit around the Sun in 1992, and he didn’t get to retire until he was 70 years of age. Now I’m looking at working into my eighties before I can get out of this rat race. I’m just glad my family sticks around into their 100s so I can spend at least a little time sitting on the dock and fishing.

HR Not Looking At Employees’ Retirements

Most of us don’t want to die at our desks. Yet it might happen, if we are obliged to keep geriatrics on staff because we just don’t have their replacements.

This lack of concern on the part of HR is stunning, particularly in light of all the media attention on skill shortages and an increasing difficulty in recruiting. Personally I attribute it to ignorance of the numbers. Less than half of all HR personnel polled report that they actually track who is eligible to retire in the next year or the next five years, and it seems that no one has the foresight to look at the next 10 years. They’re certainly not serving the interests of the company by failing to look ahead like this.

Pending Skills Gap with Retiring Work Force

Only one-fifth of companies have actually undertaken serious research in the form of strategic workforce assessments to try to figure out what’s going to happen with all these 55-year-old (and above) workers. At least this 20 percent is making some effort to find out what kind of skill gaps they’re going to be encountering less than a decade down the road. They’re the ones that are going to be prepared to solve that problem, and not scrambling like the other 80 percent who are doing nothing right now.

Jen Schramm is manager of Workforce Trends and tells us, “Businesses can start to address the upcoming skills gap by first filling the knowledge gap about the potential size and the impact of the wave of retirements to come.

Use Retiring Employees to Train New Hires

SC&C RetireesTraining New HiresOf those doing the appropriate background work now, while they still have a chance to be effective, they’re attempting to persuade their older workers to stick it out for a few extra years. They want them focused on passing on as much knowledge as possible to the next generation.

They need the old warhorses to educate young executives with styles of doing business, techniques for solving problems, firefighting in the field, generating customer loyalty, purchasing strategies, and all the other things that they just do automatically without thinking.

Are you paying attention whether you are the trainer or the trainee?

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives during their job searches. Their clients have moved up in their careers and achieved significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200, to learn how SC&C and their team of professionals can help you, and connect with SC&C on LinkedIn at https://www.linkedin.com/company/stewart-cooper-&-coon.

Job Spotlight — Chief Operating Officer

August 2012 to July 2014

Purpose

Job Spotlight is a supply and demand data resource focusing on specific titles and geographies. This tool is designed to assist you as you outmaneuver your competition.

These data are designed to give you a view of the market and competitive trends for senior-level positions. By identifying your competition, as well as who is seeking talent for this level of executive employment, you will be better positioned to take advantage of this knowledge and plan your search strategies accordingly.

Report Focus

Here are some facts for the period of August 2012 to July 2014 for Chief Operating Officer in the United States. During this period, there were 21,5361 active candidates looking to secure a position as a Chief Operating Officer, and there were 16,0962 job postings during that same time period. In other words, there were 74% less job openings than job seekers at this level and 1,936,8194 in the Total Available Workforce for Chief Operating Officer throughout the United States.

A job posting is a channel through which human resources or a recruiter posts all of its available vacancies on job boards or internally in order to give an opportunity to its existing employees or outside competition for the position. Competition is getting hotter. What are you doing to sharpen your edge to secure that Chief Operating Officer title?

Demand/Job Posting Trends: Active Workforce Trends Over the Last 24 Months

The demand for Chief Operating Officer has been on the decline.

COO job demand_career advice report

Salary Range for Chief Operating Officer, U.S., During the Sample Period

$85,000 25th Percentile
$129,000 50th Percentile
$195,000 75th Percentile

Companies Posting Jobs

Below are the top 10 companies posting Chief Operating Officer positions as open during this time frame and the number of jobs listed during this time period. Of course, there were many more companies, but these are in the reporting database.*

COO top job posters_career advice report (440 x 256)

Top Job Titles Posted By Companies

COO top job title postings_career advice report (440 x 225)

Top Cities with Job Postings for Chief Operating Officer in the Last Year (August 2013 – July 2014)

Greater New York City Area (1,182)
Greater Chicago Area (433)
Washington, D.C. (382)
San Francisco Bay Area (337)
Los Angeles Area (332)

Relocation Data

The percentage of Chief Operating Officer job seekers who are willing to relocate is extremely low; this may be the edge you need. Stewart, Cooper & Coon can help manage your job search and find Chief Operating Officer positions both nationally and internationally.

Willing to Relocate_career advice report (440 x 366)

Experience & Education Levels for Executives Searching at Chief Operating Officer Level

Based on the 21,536 active job seekers searching for the Chief Operating Officer position, the following graph for experience level shows us that the highest percentage of job seekers are those with 21+ years of experience at 52.1% and the lowest percentage of experience is 1–2 years at 1.9%.

COO years of experience_career advice report (440 x 339)

The most common education level is a Bachelor’s Degree at 44.9%:

COO education level_career advice report (440 x 316)

*Data Source and Use Notifications 1) The supply data set is a combination of job seeker activity generated on CareerBuilder.com and CareerBuilder niche sites. This includes all candidates who a) create a new resume, b) apply to a job using a saved resume and/or, c) modify a resume. 2) Demand data set is the count of job postings across the Internet from multiple websites, provided by Wanted Technologies. The figures contain no duplicate records from any database; as a result, the number is the accurate set of job postings for our job search. 3) Labor Pressure is the percentage of supply versus demand. 4) The total available workforce data is in lieu of the 135 million worker profiles that CareerBuilder’s partner, EMSI, consolidates and categorizes into the Standard Occupational Classification system. 5) No person, company or entity may sell, transfer or assign the report or any of the data provided in same to any third party without express written authorization. No person, company or entity may remove or modify any branding, marks, copyright or trademark notices, or any other notices or disclaimers set forth in any of this data or report without prior written consent, or otherwise modify the data or the contents of this data or this report in any way so as to falsely or otherwise misrepresent its content. Data and graphs supplied by CareerBuilder.

Announcing U.S. Job Trend Projections for 2nd Quarter 2014

According to CareerBuilder’s Q2 2014 Job Forecast Report, U.S. companies planning to hire full-time, permanent workers will increase 3% this quarter, a full 7% more than the forecasted national average. That’s good news, even with other more subtle economic trends factoring in to job searches.

With the economy expanding and improvements to the housing market, consumer confidence is on the rise, which means that we could see significant job growth over the next two quarters.

Here are the top 5 industries expected to exceed the national average for hiring permanent staff:

full-time-staffJob openings for financial and accounting positions are the most challenging to fill.  “Accounting and finance is having a very difficult time finding candidates. Hiring managers need to adjust their expectations as far as what they can get skill wise and how much they need to compensate. It’s no longer a buyer’s market.” Executive placement firm, Stewart, Cooper & Coon, offers a variety of services for financial and accounting executives to conduct job search campaigns and discover open positions.

Many candidates are turning down offers. About 3/4 of employers state that 10% of candidates actually end up turning down job offers. The most frequent reasons were as follows:

declined-offers

Due to the highly competitive nature of the current job market, candidates will often have several offers on the table at once. Better prospects and unrealistic salary expectations were the most common cause for refusal. A full 71% of candidates felt the hiring company’s compensation was under par with their expectations and only 25% considered the offer they were given to be what they had in mind – and that number is declining.

compensationFor more insights and trends in U.S. jobs, check out CareerBuilder’s latest Staffing & Recruitment Pulse Survey. For more information about trends in U.S. jobs, contact Fred Coon of Stewart, Cooper & Coon.