Green Key Blog

News for the way you work

Hedge Fund Assets to Top $3 Trillion By Year End

February 21st, 2014

Hedge funds badly underperformed the broader markets last year — and aren’t expected to do much better this year — but investors are undaunted. They’re expected to add another $171 billion.

With this year’s estimated $193 billion in earning, hedge fund assets should top $3 trillion by year end, says Deutsche Bank, which this week released its 12th annual Alternative Investor Survey.

“The hedge fund industry is predicted to reach a record $3 trillion by 2014 year-end, driven by significant inflows, most notably from institutional investors,” said Barry Bausano, co-head of Global Prime Finance at Deutsche Bank. Read the rest of this entry »

Temping’s Top Paying, Fast Growing Jobs

February 19th, 2014

top temp occupationsWhat are the hottest, fastest growing, and well paying temp jobs? Would you believe Human Resource specialists? How about machinists? Or bookkeepers? They are some of the jobs and occupations that Economic Modeling Specialists says will grow three times faster than the national rate and which pay more than $16 an hour. More than a few of the jobs on the list are also among the hardest jobs to fill. Nurses have topped every list of in-demand jobs for years, but did you know that hiring big rig drivers has become so competitive many companies are paying signing and referral bonuses? No wonder that employers are turning to staffing firms for help in filling these jobs. The Staffing Stream

Federal Reserve Says Temp Staffing Will Grow As Companies See Its Strategic Value

February 6th, 2014

The staffing services industry has been around for decades. But its modern form started to take shape in the 1990s, when manufacturing saw a mild renaissance and introduced the concept of just-in-time production, which brought with it a need for just-in-time labor.

Read the rest of this entry »

Improve Your Employee Engagement and Your Bottom Line Will Follow

October 23rd, 2013

Gallup engagement report logoEngagement  may be today’s trendy human resource issue, but it’s one with alarming implications for the slimmed down, high performance workforce ushered in by the recession and the 21st century’s global  competition.

To put it simply: Disengaged workers cost you money. For every employee who could care less about the job, the company, or the work they’ve been assigned, their lack of enthusiasm costs you anywhere from $2,000 to $3,000. With Gallup’s 2013 State of the American Workforce Report telling us that 18% of the average employer’s workforce is “Actively disengaged” and another 52% merely “Not engaged,” the cost to even a small business can be significant. To a large enterprise, it’s staggering. Read the rest of this entry »

CFOs Expect Stronger Earnings; Cautious About Hiring

September 17th, 2013

CFO optimismCFO’s say they expect profits to grow 10% in the next 12 months, but worries about the state of the economy and uncertainty about the consequences of Obamacare make them hesitant about adding full-time staff.

The Duke University/CFO Magazine Global Business Outlook Survey found 32.8% of CFOs are more optimistic about the U.S. economy, a decrease from the survey in Q2, but a significant improvement over a year ago. Still, they expect double-digit growth in company earnings and a healthy 5.7% increase in revenue. Read the rest of this entry »

What WIll You Do When Your Boomers Retire?

September 16th, 2013

Employment Status of Oldest BoomersCompanies large and small are in the midst today of one of the greatest mass dispersals  of talent since the rural diaspora of the early part of the 20th century.  Back then it was  the migration of Southern blacks to northern cities. Today, it’s the retirement of millions of experienced, skilled Baby Boomers who are turning 65 at the rate of 10,000 a day.

Not sure how big a problem this is for business? Consider these facts from the MetLife Mature Market Institute: Read the rest of this entry »

Big Pharma Sees Opportunity In Animal Health

July 17th, 2013

animal helth pharma salesPharmaceuticals to most of us mean the pills our doctor prescribes and the over-the-counter meds we buy to treat colds and aches and pains. Together, those drugs represent a huge share of global pharmaceutical revenues. Yet one of the faster growing segments for a number of drug makers are their animal health divisions. Global sales for animal health products last year topped $22 billion, barely a blip in the $839 billion worldwide sales for pharmaceuticals. At a time when so many of the patents for the biggest sellers have expired or will — and pet care in the developed world is soaring — animal health offers drug makers new opportunities. Merck’s $3.4 billion in animal health products last year was 8% of its total revenue. NJ.com

More Temp Hiring Expected Even As Perm Job Growth Slows

April 18th, 2013

U.S. employers may be hesitant to hire permanent, full-timers, but they’re bringing on temporary and contract labor faster than they have in months.

The Palmer Forecast says demand for temporary workers will grow at a rate 5.9% faster this quarter than in the same period last year. And that follows a first quarter growth rate that was 6% ahead of 2012. Read the rest of this entry »

Staffing Is Booming Everywhere Including New Hampshire

March 25th, 2013

map New HampshireIt’s no secret that staffing industry jobs are among the fastest growing in the nation, rivaled only by the expansion in healthcare (which itself employs tens of thousands of temp workers). But few parts of the country have seen as big a growth as — surprise, surprise — New Hampshire. With a state wide population of 1.3 million, surpassed by nine U.S. cities, staffing agencies in the Granite state are opening new offices and adding recruiters almost as fast as they can hire them. One of the larger agencies reports it opened a third office in the state and hired five new tech recruiters after seeing business 38% last year. Other New Hampshire firms tell a similar story, mirroring the national trend. NHBR

Temp Placements Fueled a Big Part of 2012s U.S. Employment Growth

January 7th, 2013

Temp and contract labor staffing firms ended 2012 as one of the leading contributors to job growth over the past 12 months.

For the year, temp firms added 153,400 jobs to the economy. That represents 8.4% of the 1.835 million jobs created in 2012. On average, the industry added 12,800 new jobs a month. Only a handful of other industries added more jobs, among them, healthcare (+337,700), and food services and drinking places (+285,600).

With 2.55 million temp and contract workers on the job in December, the industry is now only 107,700 new jobs away from its 10 year high of 2.6574 million workers reached in August 2006. The growth in temp services is due, in part, to the hesitancy by employers to add permanent staff in the face of uncertain economic conditions.

Increasingly though, employers see temps as a strategic part of their workforce mix. A survey by Staffing Industry Analysts found that the percentage of temps among employers of 1,000+ workers has risen to 16% from 15% in 20111 and from 11% in 2005

“The contingent workforce is now included in core strategic planning and utilized in a critical way to flex talent muscle,” writes Adrianne Nelson, director of SIA’s global services. “The recession made visible all the advantages of contingent labor. And today there is a recognition that talent comes in different packages, flexible and traditional.”

Likewise, Richard Wahlquist, president and chief executive officer of the American Staffing Association, attributed the growth in temp workers to businesses “strategically (embracing) flexible work force solutions to increase productivity and competitiveness. Although temporary and contract employment represents just under 2% of total employment, staffing firms accounted for 8% of all of new jobs created in 2012.”

The outlook for temp services in 2013 continues to be strong. A CareerBuilder survey of corporate HR leaders and hiring managers found 40% of employers plan to hire temporary and contract workers up from 36% last year. Among these employers, 42% plan to transition some temporary workers into full-time, permanent employees over the next 12 months.