The unemployment rate in the United States remained even for October and November, 2014 at 5.8 percent. As a frame of reference, the unemployment rate in the United States averaged 5.83 percent from 1948 until 2014. The all-time high of 10.8 percent occurred in November, 1982 and the low of 2.5 percent was reported in May, 1953. The unemployment rate is reported monthly by the U.S. Bureau of Labor Statistics. Economic forecasters are predicting that the unemployment rate will continue its decline during 2015. During the first quarter of 2015, the unemployment rate is predicted to be between 5.7 and 5.6 percent. Employers will be slow to ramp up employment numbers with the memories of recession layoffs still fresh in their minds. Seeing the national unemployment rate reach an historical average is welcoming news!
Several articles have been written by human resources professionals and business journals on how to manage employment growth post the 2008 to 2010 recession. Most of the articles encourage employers to manage expanding human capital needs with existing employees who are willing to fill hybrid positions or by hiring new employees with knowledge and skills that exceed the primary position role or focus. Human resources professionals may have greater value to their employer if they possess technology, statistical, financial, accounting and business sector knowledge in addition to primary human resources management experience.
While conducting some hybrid jobs research, www.indeed.com had 8,352 listings with hybrid mentioned in the job title or the brief job description.
Most of the nationally based market pay aggregators offer software to determine or assist in the job valuing process by using weighted percentages aligned with primary hybrid job title functions.
The DBCompensation software offers a weighted point-factor job rating process that supports valuing benchmark and hybrid positions. As employers increase the use of hybrid positions, our software can assist with placing internal job values that are validated by external market pay data studies and national pay aggregators’ databases.