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NuView Survey Shows Increase in Resumes, but Slower Hiring
HR and Payroll Software Provider Reports That Social Media Lags Behind Job Boards, Websites and Employee Referrals as Main Methods to Attract Candidates; Findings Show More Employers Are Offering Benefits and Incentives to Retain Workers, With Fewer Turning to Bonuses and Pay Increases
ANDOVER, MA -- (May 17, 2010) - Despite improvements in the economy, hiring still lags behind the rise in resumes received by businesses -- creating new challenges for employers -- according to results of a survey released today by NuView Systems Inc., a global HR & payroll software platform provider.
Surveying its cross-industry client base, NuView found that more than 53 percent of companies reported that they are hiring -- an increase over findings a year ago -- but that still leaves 47% not hiring. Regardless of hiring status, 58% of these companies report seeing an influx of resumes. A recent article published by NuView pointed to a "virtual resume tsunami" of applications swarming U.S. businesses as the economy improves, and using technology to filter, interview and hire the best among this "wave" of applicants.
The Survey also showed that while employers are turning to social media in the recruiting process, the more traditional methods, including job boards, websites and employee referrals, are still more prevalent for attracting candidates.
On the topic of retaining workers, the survey findings showed that more employers (34 percent) are offering better benefits and incentives as a retention tool, while fewer (15 percent) are using bonuses and pay increases. Significantly, 20% of organizations have increased their training and development programs to boost retention rates, while another 20% have not changed anything to help with retention.
"This survey of U.S. businesses sheds light on the challenges facing employers overwhelmed by a deluge of resumes," said Shafiq Lokhandwala, CEO of NuView. "While hiring is on the rise, there are more applicants flooding the system, creating new pressures for HR organizations. They must take steps to ensure that the best candidates don't get lost in the process. The survey also shows us how organizations are attracting candidates -- turning to job boards, websites and referrals over social media -- and the steps they are taking to retain workers and the knowledgebase, turning to incentives and better benefits over pay increases and bonuses, a sign of financial constraints that continue despite an improving economy."
A number of businesses have turned to NuView over the past year to address these and other HR challenges as organizations invest in a solution to better manage their human capital in preparation for the economic recovery. Among these new customers: one of the world's leading generic and specialty pharmaceutical companies (13,000 global employees), the North American operations of one of the world's leading brewers, and a global leader in the rental of power generation equipment, which provided services and reduced risk at the Olympics. Other new clients included the ACLU, Hard Rock Hotel & Casino, Emergent BioSolutions, Grand Lake Health System, and TTI, adding to NuView's diverse customer base covering all vertical industries.
NuView Systems is a global provider of HR & Payroll software tools that enable business strategy through advanced HR technology, across the enterprise, on a worldwide basis. Designed for organizations with a strategic HR vision, which utilize our flexible technology to achieve that vision, NuView's clients are leading organizations that have improved organizational effectiveness and earned global recognition for the strategic delivery of HR & Payroll services to their respective organizations.
NuView's web native product suite has won numerous awards, including "Top Ten HR Products of the Year" by Human Resource Executive magazine, and a Human Resource Technology Excellence Award.
In 2009, NuView was named a CODiE Award Finalist for Best Human Resources Solution by the Software & Information Industry Association (SIIA) and was ranked on the Inc. 5000 list of fastest-growing companies, achieving three year revenue growth of 335%.
For more information, please visit: www.nuviewinc.com, call us at 978-296-6600 or send an email to: firstname.lastname@example.org
NuView Systems Inc.
200 Brickstone Square - Suite 303
Andover, MA 01810 USA
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