Scottsdale, U.S.A. — As the economy begins to improve, employers across the board are finding it more difficult to retain key talent — employees who are the strongest performers, have high potential or are in critical jobs. The “Retention of Key Talent and the Role of Rewards” study by WorldatWork, Hay Group and Dow Scott, Ph.D., professor of human resources at Loyola University Chicago, found that a majority of respondents (83 percent) view turnover of key talent as very costly to their organization and two out of three agree retention of key talent is a major concern of senior management.

Survey participants reported that the number one reason key talent quits is to earn better pay elsewhere. Other reasons include a lack of promotional opportunities, the perception that pay is unfair and dissatisfaction with job and work responsibilities.

“Talent wars are going to become intense, not just this year but for the foreseeable future, because jobs are becoming more complex and demanding, Baby Boomers are retiring and Generation X has far fewer people who can fill this gap, and other countries are retaining their most talented people with great job opportunities of their own,” Dr. Scott said.

Tom McMullen, North America reward practice leader for Hay Group, added, “Top talent can more easily compare the ‘deal’ or pay package they get from their employer with other organizations via social networking sites like Salary.com, Vault.com and Glassdoor.com. If a company is to thrive in the next decade, they must learn how to recruit, develop and retain key talent in a much more competitive and transparent competitive environment.”

The most effective methods for retaining key talent are identifying key employees and discussing with them their future opportunities with the organization, paying key employees above the labor market, and allowing flexible hours or telecommuting.

“Rewards professionals are under increased pressure to make counteroffers, increase new-hire offers, and offer special deals to retain key employees,” said Kerry Chou, a certified compensation professional and practice leader at WorldatWork. “The most successful organizations moving forward will be those that develop a clear definition of what is considered key talent, identify them and make a concerted effort to ensure that those employees are engaged with their organization and satisfied with the full range of organization rewards.”

WorldatWork, Hay Group and Dow Scott, Ph.D., professor of human resources at Loyola University Chicago, collaborated on this study. Survey data were gathered from 526 participants (11 percent response rate) between Dec. 15, 2011, and Jan. 15, 2012. Respondents represented different types of organizations including: private sector-publicly traded (47 percent), private sector-privately held (26 percent) and public sector and not-for-profit (26 percent).

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According to an analysis of the April employment report from the U.S. Bureau of Labor Statistics by the Institute for Women’s Policy Research (IWPR), job growth slowed in March with 120,000 jobs added to nonfarm payrolls.

In March women gained 38,000 jobs (about one-third of all jobs added) and men gained 82,000. Women’s employment growth was aided by strong growth in health care (26,000 jobs added overall) and food service and drinking places (36,900 jobs added overall). The gap between women’s and men’s employment in March is 1.9 million.

The unemployment rates remained largely steady from February to March, declining for women aged 16 and older (to 8.1 percent from 8.2 percent), and unchanged for men (8.3 percent). As of March 12.7 million workers remain unemployed.

In the last year, from March 2011 to March 2012, of the 1.9 million jobs added to payrolls, 635,000 or 33 percent were filled by women, and 1,264,000 or 67 percent were filled by men. Since October of 2009 when men’s and women’s total jobs numbers were virtually equal, women have gained 697,000 jobs, whereas men have gained 2,592,000, more than three times as many jobs as women.

Since June 2009when the recession officially ended, men have gained 88 percent (2.0 million) while women have gained only 284,000 (12 percent) of the jobs added to payrolls—primarily because job growth for women lagged men’s by nearly a year.

Women have regained nearly one out of three (881,000 or 32.4 percent) of the total jobs they lost in the recession (2.7 million from December 2007 to the trough for women’s employment in September 2010, which occurred more than one year after the recession officially ended). The picture looks somewhat better for men: men have gained 45.0 percent (2.7 million) of the jobs they lost since December 2007 (6.0 million).

In the first quarter of 2009, when President Obama began his term, employment was still falling steeply. With the passage of the President’s American Recovery and Reinvestment Act in February 2009, job losses abated and turned to job growth in early 2010. In 2011 and 2012 both women and men have seen job gains.

There is still a jobs deficit relative to before the recession, however, which was the most severe since the 1930s. At the pace of job gains in March (120,000), it would take until late 2020 just to employ those currently looking for work without considering additional workers entering the labor force.

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According to an Institute for Women’s Policy Research analysis of the January employment report from the U.S. Bureau of Labor Statistics, women’s employment now appears to be rising, and the past three months saw equal job growth for men and women (206,000 for each). This is good news for women since their job growth has substantially lagged behind men’s for most of the recovery.

In December, women gained 89,000 jobs, while men gained 111,000. The revised numbers for October and November show 117,000 new jobs for women since September compared with 95,000 for men.

Overall, job growth in the United States was moderate in December with 200,000 jobs added to nonfarm payrolls. This is up from 100,000 new jobs in November, but down slightly from 210,000 added in September.

From December 2010 to December 2011, of the 1.6 million jobs added to payrolls, only 521,000, or 32 percent, were filled by women, whereas 1,119,000, or 68 percent, were filled by men. Despite progress in the last quarter, the gap between women’s and men’s employment in December remains at 1.5 million.

Men are recovering more quickly than women, but the jobs recovery is slow for both men and women. Women have regained about one out of four (23 percent) of the total jobs they lost in the recession while men have gained more than one out of three (34 percent). (IWPR calculates job loss in the recession from December 2007 to the trough for each gender. Men’s employment trough was in January 2010, while women’s was in September 2010.)

The unemployment rate remained steady from November to December for women aged 16 and older (8.3 percent), but fell for men (from 8.9 percent to 8.7 percent). Some of the apparent improvement is due to workers ending their job search and no longer being counted among the unemployed.

Overall, the civilian labor force (those employed or unemployed and actively seeking work) shrank by 50,000 between November and December. However, this figure represents the net change of a loss of 82,000 female labor force participants and a gain of 32,000 male labor force participants.

Fewer women left the labor force in December compared with November. For those unemployed, the average or mean duration of unemployment has been 40.8 weeks. Half of those unemployed have been so for a median average of 21.0 weeks or longer.

One reason why men are doing better than women at this point in the recession is that women are a disproportionate share of state and local government workers; those levels of government are still shedding jobs, though their job loss has slowed. In December, the private sector added 212,000 jobs, while government employment fell by 12,000 jobs. Job growth was strong in retail trade, transportation and warehousing, and healthcare and social assistance.

While private sector employment grew by 1.9 million workers from December 2010 to December 2011, 280,000 government jobs were lost. This difference in job growth across sectors disproportionately affects women who represent 57 percent of workers in the public sector compared with 48 percent in the private sector.

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The abundance of shale gas resources may spark a U.S. manufacturing renaissance with economic benefits that include cost savings, greater investments to expand U.S. manufacturing facilities and increased levels of employment, according to a new report released December 14 by PwC titled, Shale Gas: A renaissance in US manufacturing? .

To achieve these results, however, PwC says that manufacturers must help manage the environmental, regulatory and tax concerns created by shale gas resources.

PwC expects an estimated $11.6 billion in cost savings by 2025 by combining recent natural gas consumption levels with potential natural gas prices under high shale recovery scenarios. Additionally, manufacturing employment could increase by approximately one million workers by 2025 in high shale recovery scenarios.

“An underappreciated part of the shale gas story is the substantial cost benefits that could become available to manufacturers based upon estimates of future natural gas prices as more shale gas is recovered,” said Bob McCutcheon, U.S. industrial products leader, PwC .

He continued, “In fact, the number of U.S. chemicals, metals and industrial manufacturing companies that disclosed shale gas potential and its impact so far in 2011 easily surpassed that of the last three years combined, indicating this is of growing importance in the outlook of U.S. manufacturers.

The significant uptick in shale gas commentary among the manufacturing community reflects the positive influence that shale gas is having from investment, operational and demand standpoints.”

Resulting from production of a stable supply of shale gas, manufacturing industries are able to lower feedstock and energy costs, and are looking to shale gas as a source of growth for their own products. For example, companies that sell goods such as metal tubular products, drilling and power generation equipment should experience a near-term growth in sales as domestic natural gas production rates move higher.

“Manufacturers and communities throughout the country are beginning to see and recognize the real economic benefits of shale gas,” said National Association of Manufacturers President and CEO Jay Timmons. “Shale gas development is a bright spot in our economy and it has the potential to boost manufacturing employment by one million jobs, which are badly needed.”

Shale gas has already contributed to greater manufacturing investments in the U.S., particularly with chemical companies seeking cost advantages by using cheaper ethane, a natural gas liquid derived from shale gas, differentiating themselves from foreign competitors who rely more on oil-based naphtha.

Manufacturers outside the chemical industry have also announced expansion plans due to incremental energy resources, and plan on making investments in the U.S. based upon the opportunity to sell equipment for shale gas plays, according to PwC.

The relatively inexpensive and stable long-term source of natural gas is helping manufacturing companies expand and open more facilities in the U.S., presenting an opportunity to create more jobs in the industry.

“Lower natural gas prices resulting from incremental shale gas production have the potential to add over one million manufacturing jobs in the U.S. by 2025. The expectation of the new shale gas resource providing a significant long-term boost to move the U.S. manufacturing employment needle shines a light across the nation amid the current labor market woes,” added McCutcheon.

Environmental and regulatory concerns of shale gas resources include the rapid decline in production rates for shale as compared to conventional gas, which requires drilling more new wells to offset decline in existing wells. Also, there is a need to build out infrastructure in regions that haven’t already produced significant amounts of natural gas.

“The economic benefits to U.S. manufacturers can’t happen if shale gas is not extracted in a profitable and safe manner. To achieve these significant outcomes, manufacturing companies must effectively communicate the value that shale gas can create for U.S. workers and communities,” concluded McCutcheon.

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As the holidays approach and most people look forward to taking time off from work to spend with their families, millions of older adults are asking for one important gift this year – a job.

New data from the National Council on Aging (NCOA) shows that older workers employed through the Senior Community Service Employment Program (SCSEP) provide exceptional skills, productivity, and experience to employers looking to fill temporary and part-time positions. At the same time, SCSEP helps older workers gain critical skills that can lead to permanent employment.

Funded through the U.S. Department of Labor, NCOA’s SCSEP program matches eligible older Americans aged 55+ with training and part-time jobs for community service organizations through 27 offices in 11 states. In the 2010-11 program year, over 6,000 older adults were served by NCOA, providing over 4 million hours of community service. Upon completion of the training program, 62.4% of participants were placed into permanent employment.

On average, older adults employed through NCOA’s SCSEP program earned over $7,200, which, when combined with other benefits, served as a lifeline for these struggling older adults, many of whom are one step away from economic crisis.

According to a report released earlier this year by the Congressional Research Service, once they have lost a job, one out of eight (12%) older Americans are more likely than any other age group to remain out of work for 99 weeks or more. Many have spent almost two years looking for work, considerably higher than the 6% figure among unemployed workers under age 35.  Additional data comes from a recent AARP report on unemployment, found here.

“New data released December 15 by the U.S. Labor Department shows the unemployment rate dropping in the U.S. and while this is great new, it’s not necessarily true for older workers,” said Sandra Nathan, senior vice president for economic security at NCOA. “Thousands of older adults are still seeking employment today.

Their skills and experience can be a welcome addition to employers struggling to find qualified applicants, and we hope to connect thousands more mature workers with employers in 2012.”

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Social network sites can do more than entertain us, they can actually help people find employment. And even those who have good jobs can benefit from being apart of a social network site; they can grow their contact list and create content related to one’s training.

The following popular social networking sites can be very helpful tools when trying to advance one’s career:

LinkedIn: the largest professional social network. Creating a profile on LinkedIn allows the user to display their resume, interests, and career objectives. Past employers are able to “recommend” someone who worked for them in the past.

Recruiters and human resource professionals are able to view users’ skills sets; there is a chance they will reach out to LinkedIn members if there is a job opportunity that fits their specific abilities. This is also a helpful place to follow news on one’s favorite businesses and industries. Additionally, LinkedIn posts job openings for members to look at.

Xing: it is similar to LinkedIn. Xing has been very successful in Germany, although it is being used in other countries as well. With more than 11 million users, Xing is giving Linkedin some competition. It allows professionals to connect and engage with each other.

Twitter: a social networking sites with a limitation: 140 characters. Twitter is unique in its use of fewer words. It is a great tool to share and follow interesting content. It is easy for users to “follow” companies, organizations, and individual people that they like. “Retweeting” comments by people can be a great way to show interest in the topic or company they represent.

Also, sometimes companies or individuals will post job openings on Twitter.

Facebook: It is possible to use this popular social media site, with its more than 500 million users, in a professional way. It is important that the user is careful with their privacy settings.

Users shouldn’t display too many personal photos or comments; However it is possible to use Facebook for both personal and professional use if the user is mindful.

Google +: This new social networking site consolidates social networks with other platforms. Google + combines the content sharing and viral quality of Twitters with Facebook’s communication format; with more characters and “like” buttons and commenting options. Also, creating “circles” on Google + is a simple way to organize your content and control who sees your information.

One of the most important things to remember when using any of these sites to advance oneself professionally, is to display a conservative and appropriate photo. It’s also important to not be a pest. Sending too many private messages to someone could scare them away instead of making them interested in you as a potential employee.

Users should try to adapt to the different types of social sites they are using. While each has its specific rules and etiquette, the strategy of engaging with companies and presenting oneself professionally applies to each site when searching for a job.

With today’s weak economy, it’s necessary to be patient when searching for a job. Being resourceful is also key. Getting a presence on all the different platforms can be helpful; maximizing one’s presence and connections to others.

There are other ways to use the web to advance professionally that doesn’t involve social network sites. Creating and updating a blog can be a great way to present yourself, your skills, and your interests. Blogger and WordPress are popular blog platforms.

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Utah’s experiment with a four-day workweek for most state workers is over. The state of Utah first instituted the condensed workweek in 2008. The Associated Press reported that lawmakers ended the trial for the majority of state workers, saying it was not saving as much money as predicted. The state will return to a five-day workweek on Tuesday, September 5.

Todd Sutton, of the Utah Public Employees Association, said the adjustment back to a five-day workweek won’t be easy for many employees. Some people had arranged daycare schedules for the four-day week, while others were using their free Fridays to work second jobs or volunteer.

“Employees struggled because they adapted their lives to one schedule,” Sutton said. “And then it goes to a different schedule.” It’s clear that residents and leaders in Utah have mixed reviews on the sudden schedule change.

“I think it’s a horrible idea,” Larry Swift told the Salt Lake Tribune. Swift runs a business that sells construction equipment and was registering his car Thursday evening.”I think it’s really nice to have something open after 5 o’clock so you don’t have to take time off work, ” he said.

According to the Examiner, many state workers were unhappy with the change initially, but have adjusted to long days and three-day weekends. Many are unhappy about adding another day’s commute to their week. At the same time, some are pleased about shorter hours and more time with their families on a daily basis

Jon Huntsman, former Utah Gov., launched the “4/10″ workweek — 10 hours a day, Monday-Thursday — for thousands of employees in 2008, said the AP. The hope was to improve efficiency, reduce overhead costs and conserve energy at a time when budgets are tight and resources are dwindling.

A 2010 legislative audit showed the savings never materialized, in part due to a drop in energy prices. According to the AP, while Utah legislators as a whole found the four-day workweek unproductive, some cities in Utah saw the shorter workweek as a major success.

Mayor John Curtis, of Provo, Utah, said the 4/10 system improved employee morale and saved money. He said the four-day workweek might be more effective at a local level than with a state government. “People don’t have that same interaction with state employees … and the state needs hundreds of offices, while we only need one,” Curtis said.

Provo is one of the state’s largest cities with more than 100,000 people. The four-day workweek has been in place for years, with city offices open Monday through Thursday, 7 a.m. to 6 p.m. Utah isn’t the only state that has tried an alternative workweek schedule in lieu of the traditional five-day workweek.

In El Paso, Texas, Mayor John Cook, is proposing a year-round four-day workweek after experimenting with it during the past two summers.According to the AP, Cook said the projected savings for the city of about 800,000 people was more than $400,000 annually, primarily because of lowered utility and fuel costs.

Creative solutions are becoming more popular for governments facing tight budgets, said Rex Facer, a Brigham Young University associate professor who has studied the effectiveness of four-day workweeks. Lawmakers in both Oregon and Texas considered four-day workweek bills this year, but neither passed, the AP reported.

According to Facer, more than 200 cities have implemented or experimented with the four-day workweek on some level.

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Unemployed Americans are completing for jobs with those who are already employed. According to the Huffington Post, the job market is even worse than the 9.1 percent unemployment rate suggests. The 14 million unemployed Americans are also competing with 8.8 million people who have part-time jobs but are in search of full-time work.

Those with part-time jobs are more likely to gain full-time positions before the unemployed. Economists suspect that when companies are able to add more work hours, they will tack on more hours to part-timers’ workdays before making new hires.  

The New York Times reported that August brought no increase in the number of jobs in the United States. Patrick J. O’Keefe, the director of economic research at J.H. Cohn, an accounting firm, said the economy has about the same number of jobs as it did in January 2000. “We expected a weak report, and what we got was even weaker,” said O’Keefe.  

The monthly report showed a 17,000-job gain among private employers but no growth over all. The Congressional Budget Office said it’s expected for the rate of unemployment to exceed 8 percent until 2014. Republicans pointed to recent job reports as evident that the stimulus tactics of Obama are not working.

In an email to reporters, the Republican National Committee took note of the worst jobs report in nearly a year, saying that there has been “two and a half years of Obamanomics and nothing to show for it.” Michele Bachmann commented on job climate during her visit in Iowa on Friday. 

“The American people don’t need speeches, they need jobs,”  Bachmann said. While campaigning in Florida, Mitt Romney called the job report “unacceptable.” The new job report had a negative effect on the stock market. The

Dow Jones industrial average fell 253.31 points, 2.2 percent, Friday, closing at 11,240.26. “As long as payrolls are weak, you will continue to hear cries of not just recession risk but cries that the United States is in a recession and we just don’t know it,” said Ellen Zentner, the senior United States economist for Nomura Securities.

Overall, unemployment is lower than it was a year ago, but those gains have been among whites, Hispanics and Asians. For blacks, unemployment has increased, to 16.7 percent from 16.2 percent.

Obama is expected to renew the payroll tax cut and extend unemployment benefits, both benefits that are about to expire. Obama is also scheduled to give a speech on improving unemployment rates on Thursday night.

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