A recent Q2 U.S. Job Forecast Report revealed that despite another dismal quarter for the job market, the outlook for the second quarter looks slightly more promising than that of the first quarter. Results indicated six project trends for employers and job seekers in Q2:

• Trimming Perks and Benefits - 31% of employers expect their will be cuts mainly in the areas of bonuses, 401K matching and healthcare coverage
• Upgrading Talent Rosters - 23% of employers are taking time to replace lower-performing employees with new talent
• Postponing Retirement - 60% of workers over the age of 60 are putting off their retirement due to the impact of the financial crisis on their long-term savings
• Transferring Skills - 69% of hiring managers say they are open to hiring someone who didn't have experience in their profession but had transferrable skills
• Relocating - 39% of workers who were laid off & haven't found work are willing to relocate for a job
• Going Back to the Classroom - 21% of all workers surveyed are going back to school for formal degrees, certifications and refresher courses to make themselves more marketable to employers

According to a recent report, online job advertisements fell by 100,000 in March and the drop has resulted in a decline of over 1.1 million advertised vacancies in the last four months. There were about 3.25 million online ads and slightly over two advertised vacancies for every 100 people in the labor force. States leading the way in unemployed people for every advertised vacancy was Michigan with 8.37% followed by Indiana (6.70%), Kentucky (6.66%), Mississippi and North Carolina (6.46%).

Because we want to best serve our readers, we feature a segment of our Newsletter where you can submit questions directly to our OperationsInc professionals. Do you have a question related to the management of the Human Resources function? Email it along to enewsletter@operationsinc.com. The best ones will make it into a future newsletter, along with the answer... and those that don't get published will still receive a response.

This week's question:
"How often should performance appraisals be done?"

--- Principal, Hedgefund

Answer:
Performance Appraisals should be performed a minimum of once a year. If it is feasible the ideal structure is to do these 2x a year or even once a quarter (in some abbreviated format). Note that the delivery of a written appraisal should not be seen as a replacement for providing regular feedback to your employees throughout the year on their performance.

"To succeed in business, to reach the top, an individual must know all it is possible to know about that business."

- J. Paul Getty

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