Spend a “Fraction” of Your Day with Our Latest News & Insights
Welcome back to Modern Hiring Wisdom! In this edition, we'll explore how holistic benefits packages can help with employee retention, the rise of fractional executives, and the transformative results our clients have experienced with this innovative leadership model. We'll also introduce you to our first-ever salary guide, designed to help you navigate the complex landscape of compensation and hiring trends in California. Let’s get to it!
Hiring Climate Report
The hiring market in the United States appears to be stabilizing, with a few notable trends worth mentioning. The technology, information, and media industries have seen significant growth, with a hiring increase of 11.6% since mid-2023. This rise contrasts with the broader market, where openings have decreased and quits have stabilized, making the job market more competitive for job seekers. Additionally, wage growth seems to be decelerating, reflecting reduced employer demand and an increased labor supply. Thankfully, wages are still growing faster than inflation, which should maintain workers' purchasing power.
Employers are increasingly focused on retention and talent acquisition strategies to navigate the competitive landscape—we happen to think holistic benefits could help, as you’ll read below. Transparency in salary information is table stakes for attracting quality candidates, as all job postings require salary ranges in California.
It’s still a difficult road to try to find talent or career opportunities by yourself. If you need help with either, be sure to reach out to FORTIS today.
Insights From Orange County
A sampling of wisdom and news from the FORTIS Resource Partners blog.
Worried About Employee Retention? Consider a Holistic Benefits Package
If you’re concerned about retaining your best employees, it might be time to rethink your benefits package. Compensation is no longer just about the numbers on a paycheck. Younger generations are seeking holistic benefits that cater to their diverse needs, from health and wellness to personal growth and social responsibility.
This article from the FORTIS blog will show you how you can create an attractive and effective benefits package that improves retention and attracts top talent. Discover the importance of listening to your employees, recognizing the challenges faced by caregivers, prioritizing mental health and wellness, demonstrating social responsibility, and fostering growth and development. Embrace a holistic approach to employee benefits and invest in your company's future.
Read the full article here
Could Fractional Leadership Be Right for Your Needs?
It’s more than just a buzzword. Fractional leadership is gaining traction in 2024, challenging the assumption that permanent, full-time leadership is the only way to go. Even major brands like Starbucks are getting in on the action. That’s because companies can tap fractional executives to access C-suite-level expertise without the full-time commitment or cost. You get the skills and knowledge of a seasoned, strategic leader on a part-time or interim basis.
This article shows you the five strategic benefits of fractional leadership, from cost-effective access to proven expertise to the fresh perspectives and unbiased insights these leaders bring to the table. Learn how this flexible and scalable model can help your business navigate growth, transitions, and complex challenges. Fractional leadership might just be the perfect fit for your organization's needs.
Read the full article here
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Fractional Leadership: These Part-Time Roles Demand Your Full Attention
As mentioned above, the term “fractional executive” has gone from a whisper to a scream in terms of industry awareness. It’s no surprise why. Companies across the country appreciate the fractional leadership model for its cost-effectiveness and flexibility, allowing businesses to access specialized, executive-level expertise on a temporary or part-time basis without committing to the overhead of a full-time salary. We all want to adapt quickly to changing economic conditions and specific project needs, which makes these part-time C-suite ringers so attractive for finding stability in a dynamic market.
Ironically enough, we find our time at FORTIS has become more and more occupied with finding these short-term leaders for clients—often with transformative results. In fact, we just placed an exceedingly capable fractional controller at one of Orange County’s most ambitious foodservice companies.
Colette's Catering & Events faced significant challenges with their financial reporting after a long-time consultant left their employ. We quickly placed a dedicated fractional controller with a strong background in small business financial consulting, who immediately set clear expectations and improved the timeliness and accuracy of financial reporting. Within just two weeks, Colette's gained crystal-clear visibility into their finances, allowing for better strategic planning and cost savings compared to their previous provider.
We’ve been getting similar results for clients across Southern California—and we can do the same for you.
Read the full case study here , and when you’re ready to find your next fractional leader, let’s talk.
Don’t Miss The FORTIS 2024 Salary Guide
Have you downloaded our first-ever salary guide yet? Understanding what motivates top talent is more difficult than ever when you consider the shifts in industry standards, changes in remote work preferences, and the continuous march of technology. And for those seeking work, zeroing in on your true value in the talent marketplace can feel like a fast-moving target.
That’s why we created this guide for business owners and professionals all across California—including Orange County, Los Angeles, San Diego, Northern California, and Inland Empire. We designed it to be a comprehensive resource to help you navigate the complex landscape of compensation and hiring trends in the finance, accounting, and human resources sectors.
Salary Guide Highlights
Above all, we intend this guide to be a roadmap for navigating California’s unique world of work. Whether you’re a business leader looking to refine your compensation strategy or a professional seeking to understand your worth in the market, we hope this resource gives you the clarity and direction you seek.
A Moment of Fortitude
“Do what you can, with what you have, where you are.”
At FORTIS, we're committed to helping businesses and professionals navigate the ever-changing landscape of work in California. Whether you're seeking top talent, exploring new leadership models, or looking to understand your worth in the market, we're here to support you every step of the way. Don't forget to download our 2024 Salary Guide and follow us on LinkedIn for more updates and insights. Until next time, stay strong and stay focused on your goals.
Wellness Expert | Healing is Possible | Corporate Wellness for Professional Services Firms | Mind-Body Practitioner | Business Intuition | Dog & Cat Lover
4 个月Great insights and ideas in your holistic benefits post, we certainly bring our whole selves to work. Asking for individual priorities to inform options is important. And they change over time. Companies can also stand apart by offering complementary approaches that bridge medical care and healthy lifestyle choices.