As a record number of Americans resigned their jobs in 2021, we are proud to present our research in MIT Sloan Review’s Toxic Culture Is Driving the Great Resignation, co-written with MIT adjunct faculty and co-founders of Culture X, Donald Sull and Charles Sull, and Revelio Labs CEO Ben Zweig. The article investigates the main drivers of employee attrition and actual strategies managers can employ to retain talent.
Job postings are often used to measure demand in the economy. But does one job posting really represent one vacancy? And does a removed posting really represent a hire? Or, alternatively, are there roles where there is no posting but still a new hire? Or are there roles with postings but no talent to fill those roles? In short, what is the relationship of job postings to hires? By comparing job postings with new hires for the second half of 2021, we can see which roles have the biggest discrepancies between new hires and job openings. Below is their “hire to job posting” ratio:
In our recent collaboration with Bloomberg News, we tracked real changes in salaries through 2021 using CPI adjustments by MSA and occupation. We found that Recruiters had the biggest increase in real salaries by a large margin. Below are the highest and lowest real changes in salaries by occupation in 2021: Our recent work for Recruiter.com provided a deeper dive into the market for hiring Recruiters in 2021. By tracking the headcount of recruiters at more than 12,000 public companies, we found that growth of Recruiter roles has outpaced other roles in 2021.
The bipartisan Infrastructure Investment and Jobs Act will invest about $2 billion on cybersecurity, and support public and private entities as they respond to, and recover from, significant cyberattacks. Cybersecurity roles have been growing much faster than all other roles in the last decade. But with this renewed focus, can the government actually compete with the high salaries of the finance industry for the most sought after talent?
In order to make workforce comparisons, we need to create categories of similar jobs and skills. It’s useful to know that “Lawyer” & “Attorney” are similar job titles and “SQL” & “Databases” are similar skills so that we can better categorize them. But what about understanding which jobs or skills are the most different from each other? Presumably, there would be some compensation benefits to one's job or skill uniqueness?
With climate change concerns on the rise, companies have taken to hiring so-called Chief Green Officers or Chief Sustainability Officers (CGO) into their C-suite. But can these employees actually make a difference to the sustainability of a company? Or are these appointments nothing more than greenwashing? Over the past decade, spikes in hiring of CGOs seem to coincide with public attention to climate and sustainability related issues. Below, the gray bars indicate whenever there is a spike in news searches for “sustainability” on Google Trends:
After the holidays? Beginning of the new year? Or once things settle down? What is the best time of the year to look for a new job? Well, by analyzing the start dates on profiles, we see that it depends a lot on the industry. The following calendar shows the frequencies of newly filled positions for each industry by month:
With an estimated market size of 24 billion USD according to Forbes, the human resources technology market is bursting with opportunity. AI-based algorithms, together with increases in cloud computing have enabled major innovations for crucial HR functions, such as staffing, recruitment, applicant tracking, freelance hiring, and employee management more generally. We have looked at 50 of some of the biggest and fastest growing companies in this space. Below are the 5 fastest growing companies:
Higher salaries in big cities do not always translate into higher standards of living because the cost of living varies greatly across cities. By tracking salaries by location, we’re able to see where employees can enjoy the highest standard of living. The matrix below illustrates the average salary of job postings and cost of living in an MSA. So what is the price tag of living in your city? We can use price indices across metropolitan areas and average salaries, to see the ‘premium’ you receive or ‘tax’ you pay on average by living in a city.
Yesterday, Revelio Labs analyses were featured in Bloomberg’s article on crypto talent trends within Wall Street. Headcounts of cryptocurrency experts at large banks and financial firms tripled between 2016 and 2018. Wanting to know who these new crypto experts are and where they come from, we look at the industries of their previous roles. Surprisingly, these experts have overwhelmingly been forged on Wall Street itself, instead of Silicon Valley or research labs.
Today’s article on Bloomberg News features analyses on competition for talent in the autonomous vehicle industry by Revelio Labs. The market for autonomous vehicles is growing fast, as headcounts are rising throughout all notable companies in the industry. The plot below tracks the growth of the companies that have experienced the biggest growth since 2018. Although employment growth is considerably large for all roles, Engineering roles have seen the largest growth, with an 80% increase since 2018.
Since the United States has no federal parental-leave policies, local governments and companies often step up to fill that void. Business Insider identified large public companies with the most generous parental leave and benefits for new parents. The list includes tech giants like Netflix and Amazon, as well as financial sector firms like Freddie Mac and Capital One. But do these company policies actually lead to measurable outcomes for women?
Had a plant-based sausage or some non-dairy cheese lately? Meat replacements and dairy alternatives have become increasingly popular over the past decade. Not only are these foods more environmentally friendly, but they are also a part of an extremely lucrative market: the plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.
When Dolly Parton spun her classic 9-to-5 into an ode to side hustles for Super Bowl commercials, it sparked controversy as to whether hustle culture is the new norm. But is this really a _'whole new way to make a livin’_? By looking at online profiles who list more than one concurrent position, we can track the rise and fall of hustle culture in the American economy:
This week, we collaborated with Hedge Fund Alert to track hedge fund hiring trends as people return to offices. Our analysis shows that after a dip following the pandemic, hedge fund hiring rates in 2021 are greater than they have been in 8 years and are continuing to rise sharply. Looking at the headcount growth of certain roles in 2021 versus 2020, we see that there is a strong growth of senior roles with engineering and technical focus. Traditional banking roles, which are still strong in absolute numbers, are seeing a relative decline. This may be due to the industry’s growing focus on algorithmic trading.
Looking at data on employees at public companies in Northern America, the plot below tracks the rolling mean of monthly hiring rates of women and men. Although the numbers look similar until fairly recently, we observe a widening gap between hiring rates of men and women in the recent past, especially during the pandemic. It is hard to disentangle whether this dip in women taking up new roles is driven by labor supply, or labor demand.
At the onset of the pandemic, working from home became the new reality. At a time when more and more employers are reopening their offices and asking their employees to go back to in-person work, we are looking at how remote job postings evolved and how it transformed the labor markets. In early 2020, the share of remote job postings quickly increased during the initial lockdowns. More interestingly, however, the trend has since continued upwards —the share of job postings that mention “remote” has increased from 1-2% pre-pandemic to 8-9% today.
The Revolving Door, the movement of public sector employees to private sector companies, is a heavily scrutinized Washington D.C. phenomenon. The movement between regulators and the companies they regulate can be problematic: when lobbyists turn into regulators, and vice versa, the transparency and fairness of regulatory policy is potentially jeopardized. With our data spanning hundreds of millions of careers, we detect the inflows and outflows of regulators. The charts below show the most frequent transitions out of and into the largest regulatory bodies in the US.
The college admissions scandal of 2019 highlighted the ways that elite private school students are using their resources to secure admission to top tier colleges. This week we focus on whether going to private high schools really improves your chances of getting into a top tier college. And if so, what colleges enroll the most private school students? Prior to 2005 only 40% of the students at top 20 universities were from public schools, but since then there has been a steady increase to 60%.
Many compete to make it into the upper echelon of management. But the paths to leadership can be unclear. Based on an analysis of hundreds of millions of careers, we can see which jobs are most likely to be promoted into senior management. Roles in Marketing, Legal and Investment Management used to have the highest chances of promotion into senior management.
