Technology and the economy have changed the recruiting landscape for the utility industry. Based on the 2011 Compensation Data Utilities survey results, more organizations are using cash options as a recruitment tactic in the midst of a struggling economy. From 2010 to 2011, organizations offering raises more frequently during the first year increased from 7.5 percent to 10.6 percent.
The methods used to recruit new employees have also changed, with a notable increase in school recruiting. In 2011, 42.3 percent of organizations reported recruiting new hires at schools, up from 39 percent in 2010. Job fairs have increasingly become a means to recruit employees. In 2010, 50.7 percent of companies recruited at job fairs compared to 53.5 percent in 2011.
Perhaps as a reflection of the recent change in unemployment, more than 92 percent of organizations reported they were actively recruiting as compared to 2010 when 91.1 percent of employers were recruiting.
“As the economy slowly recovers organizations are challenged with retaining high performing employees,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading pay and benefit survey data provider. “With the job market opening up, employees are looking to take their next career step, and employers are turning their focus to keeping these employees satisfied.”
A recent Monster.com Workplace Survey confirms this, indicating many are pursuing work again as they did prior to the recession. Employees see this as the time to take control of forwarding their career. Many of those looking for their next career move believe they will find it this year.
Overall, turnover rates in the utilities industry have seen little change between 2010 and 2011, remaining at 4 percent for all participating utility companies. However, telephone companies showed a significant increase in voluntary turnover rates in 2011 at 5.4 percent, compared to 4.7 percent the year before.
About the Survey
Compensation Data 2011 Utilities contains data on more than 460 titles ranging from entry-level to top executives. The results feature data from nearly 130 utility organizations reporting on more than 1,450 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of February 1, 2011.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Michelle Willis at (800) 300-9570.