Revolutionize How Your Company Finds Talent: The RealTime Talent Exchange

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The RealTime Talent Exchange Leapfrogs Other Posting Systems

 

Hey Minnesota employers! Every day you work hard to attract, develop, and retain the talent your organization needs for today and for the future. This important and time-consuming work starts with hiring the right people for the right roles. The RealTime Talent Exchange can help!

 

The Exchange provides cutting-edge technology that creates a more efficient and effective labor market by moving away from the sole use of traditional recruiting practices toward a new matching technology that leapfrogs other online tools. This innovative technology helps employers fill open positions by easily accessing candidates who are the best possible fit.

 

Here’s how it works.

The Exchange surveys employers and candidates about needs, interests, abilities, and preferences using a set of statistically validated questions for the specific role. Then, the system uses patent-pending algorithms to create matches, instantly connecting employers and job seekers. This cuts the time and cost of recruiting and serves the unique needs of small, mid-sized, and large employers. Built on WorkFountain technology, this innovative platform allows your organization to make meaningful connections and find the best person for the job–faster than ever before.

 

Some key benefits for employers:

  • One-stop exposure to top talent, regardless of recruiting budget or name recognition
  • Job board broadcasting and social media promotion
  • Centralized scoring, screening, and stack ranking of candidates
  • Prioritized shortlist of top matches to consider first
  • Cost effective ($39 per job posting and $19 per internship posting)

 

Now in the pre-launch phase, this new online labor Exchange will be officially launching in February. View the site now at www.realtime.workfountain.com. There are early opportunities for large employers, regional economic development bodies, academic institutions, and others to become hosts or create enterprise accounts on the new platform. If your organization is interested in this kind of opportunity,  please contact Jess@realtimetalentmn.org

Central Minnesota

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The 13-county Central Minnesota planning region had a population of 693,108 in 2014, almost 13% of the state’s population. With a larger population, yet a similar volume of jobs posted compared to other Greater Minnesota regions, the number of people in the labor force per job opening (potential candidates indicated below) is very high. This is the result of the region’s highly mobile labor force, with over 40% of the region’s working residents commuting outside of the region to get to their place of work according to one DEED analysis of the commute shed. Central Minnesota is a net exporter of labor with only 198,956 workers both residing and working in the region in 2013 according to the U.S. Census Bureau.

According to DEED’s Occupational Employment Statistics, about 16% of all jobs held in Central Minnesota are in production manufacturing, whereas production comprises only 11% of all jobs statewide. Healthcare and social assistance jobs are expected to increase in demand by over 28% through 2022, while production manufacturing is expected to increase by only 3%. In 2014, DEED identified ten industry sub-sectors that define the region by having significantly higher concentrations of jobs and firms than seen statewide. Overall, Central Minnesota has 9.7% of the state’s total employment, but is home to 25% of the state’s employment in animal production, furniture, and related product manufacturing. The projected slowed growth of manufacturing and production in the region is of particular concern for the local communities that rely on these economic niches, which are extremely diverse across the eastern and western subregions of Central Minnesota.

Transportation services are in high demand in Central Minnesota, accounting for 17% of all jobs advertised online to date in 2016. Healthcare positions are the second most sought, with 14% of all postings pertaining to this sector. When health support occupations are included (3.2% pf the postings), the total healthcare function positions lead as the most-sought positions in the region. These types of jobs are typically advertised online whenever openings are available, and counts are a relatively strong representation of regional labor needs. However, a number of critical industries continue to post job openings in very low volumes and may under count actual need. Some of these industries include forestry and logging, paper manufacturing, electric power generation and transmission, and mining. Highly unionized industries and temporary or seasonal positions are also not advertised online in large volumes, and other data sources might capture the true number of vacancies better.

For the full report and a list of additional relevant data sources, see our Reports page.

 

Northwestern Minnesota

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The Northwest region of Minnesota is mostly rural and has an economy dominated by agriculture. With a population of 595,370 in an area of 29,904 square miles and 26 counties, it contains wide expanses of agricultural land and 29.5% of the state’s farms according to the USDA in 2012. The region contains only 8% of total employment in Minnesota based on DEED’s Quarterly Census of Employment and Wages. Some of the largest cities in this region include Moorhead (pop. 42,005, #21), Bemidji (pop. 14,594, #70), and Brainerd (pop. 13,371, #78).

DEED identifies three distinguishing industries of the Minnesota’s Northwest: pipeline transportation; fishing, hunting and trapping; transportation equipment manufacturing. The Northwest contains over 40% of the state’s jobs in these three industries. This is reflected in the industries that saw the most job postings online during the first three quarters of 2016. The vast majority of jobs were posted by freight trucking companies – both long-haul and local – or by temp and staffing agencies hiring for drivers, manufacturing, and agricultural labor.

Capturing the job openings in agriculture, fishing, hunting, and related positions can be challenging, as many positions are not publicly advertised. The chart below shows the number of production agriculture, environment, fishing, and hunting jobs that were advertised online in the region during the first three quarters of 2016. Counts for farm workers, breeders, fish and game wardens, and equipment operators were likely significantly higher than what these counts reveal.

Although DEED’s Occupational Employment Statistics found administrative support positions to employ the most people in the region in 2015 and food service to have the most vacancies, it was actually transportation jobs that were advertised much more frequently. Transportation jobs comprised 25% of all jobs advertised online in Nothwest Minnesota in the first three quarters of 2016. Healthcare practitioners and sales positions are also in high demand, making up 14% and 8% of the total 58,800 jobs in the region, respectively. Education, training, and library occupations are increasing in demand in this region, with job postings up by 66% since 2015. Hard skills in demand in the Northwest include pediatrics, quality assurance, geriatrics, behavioral health, and technical support experience.

For more information on Minnesota’s Northwest, view our new report here.

 

Sources:

TalentNeuron Recruit for online job counts.  www.wantedanalytics.com

DEED Quarterly Census of Employment and Wages (QCEW) http://mn.gov/deed/data/data-tools/qcew/

DEED Distinguishing Industries https://mn.gov/deed/assets/sept-2015-trends-distinguishing_tcm1045-212016.pdf

DEED Occupational Employment Statistics https://mn.gov/deed/data/data-tools/oes/

 

Northeastern Minnesota

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Home to 326,649 people in 2014, just 6% of the state’s population resides in Northeastern Minnesota–the beautiful Arrowhead Region. St. Louis County is the region’s largest county by size and population with approximately 61.5% of the region’s population. Jobs are highly concentrated around the region’s largest city, Duluth, which is located in St. Louis County. South and western counties of the region are growing at the fastest rates (Carlton and Itasca), while northeastern counties have seen steadily declining populations since 2000 (Koochiching and Lake).

Healthcare jobs account for 29% of the 41,516 jobs advertised online in the region this year to date. The second most common types of job advertised in Northeast Minnesota were transportation-related, specifically for heavy tractor trailers and heavy truck driving. Manufacturing, construction, engineering, and marketing each saw notable decreases in job posting volume between 2015 and 2016. Some unique industry niches of the region, though not significantly represented in online job postings, include forestry and logging, paper manufacturing, electric power generation and transmission, and mining.

For more information on the Northeast’s unique labor market, view the report here.

 

Minnesota’s 7-County Twin Cities Metro Area

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metro_map

The 7-County Twin Cities Metro Area is the most densely populated region of Minnesota. With 2,985,405 residents, it composes over half of the state’s population (54.7%). Similarly, 54.6% of the state’s currently advertised jobs are found in the Metro region. It contains five of Minnesota’s most populated counties and two (Scott and Carver counties) of the fastest growing. The population is generally younger than the rest of the state, with only 11.8% of its population being over the age of 65, according to the U.S. Census Bureau (2014 estimates).

The Twin Cities has become a hub for Information Technology, accounting for 15% of all jobs advertised in the region to date in 2016 (90,888 jobs out of 601,920 total). Information technology positions span a number of industries and verticals, with healthcare IT rising as a clear need in the region.

The table below highlights the top hiring employer, most in-demand occupation, median advertised salary, and number of people per job in the Metro’s ten largest communities.

For the full report on the 7-county Twin Cities Metro, visit our Reports page.

 

metro_chart

Southwestern Minnesota

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region_southwest

Today we released the report on Southwestern Minnesota’s online job market.

Southwestern Minnesota’s economy is dominated by production manufacturing–particularly in agricultural production–and healthcare.  About 25 percent of jobs in these industries were held by workers 55 and older in 2015.  Home to 7 percent of the state’s population, the Southwest is sparsely populated.  Mankato (pop. 41,040) is the largest city in the region, ranking as the 22nd largest in the state in 2014 (US Census Bureau Population Estimates).

The top five job titles advertised online in the Southwest since 2012 are 1. Registered Nurse, 2. Class A CDL Truck Driver, 3. Physical Therapist, 4. Owner Operator, and 5. Licensed Practical Nurse.  Of the 6 major regions, the Southwest had the second highest median advertised salary  in 2016 at $56,100/year.  No major local or regional job boards could be identified in our research, and overall job posting volume is low in the region, but proportionate to its population similar to the Southeast and Northeast. In contrast, the Northwest and Central regions have many more people competing for fewer jobs, and the Twin Cities Metro has fewer people per job opening.

Recruitment for truck drivers is booming in the Southwest, with 30 percent of jobs advertised in the first three quarters of 2016 being transportation and shipping positions–tripling in number since 2015. Healthcare practitioners are also in high demand, making up 12.5 percent of the total 51,464 jobs advertised in the region between January and the end of September this year. The number of job postings seeking sales, business development, and information technology professionals declined since 2015. In demand certifications include a commercial driver’s license, HAZMAT, nursing certifications, and CPR.

Download the full report here: rtt-2016-regional-labor-market-southwest

 

southwest_chart

Southeastern Minnesota

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region_southeast

The latest report on Minnesota’s southeastern region is up on the RealTime Talent website.

Regional strengths of the Southeast include healthcare and social assistance (25% of employment) and manufacturing (35% of the region’s output). Healthcare positions is concentrated around the regional center in Rochester, while manufacturing jobs are distributed broadly across the region. Temporary agencies, staffing, and other employment services are abundant in this region, contributing to a higher job posting rate than other regions. With 500,923 inhabitants in 11 counties, the Southeast is currently Minnesota’s third fastest growing region. Its population is slightly older than the rest of the state, with 15.6% over the age of 65 compared to 13.9% statewide.

View the entire report on the Reports page of our site.