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TAPPING INTO A FREQUENTLY 
OVERLOOKED TALENT POOL 
A Business Case for Hiring the Long-Term Unemployed
Usage guidelines 
These materials are intended for use in educating your organization on business reasons for hiring the 
...
Actively recruiting and hiring the Long-Term Unemployed (LTU) makes 
business sense 
Hiring the LTU can provide a signific...
The Long-Term Unemployment (LTU) issue in the U.S. 
According to leading economists, the current high level of LTU can res...
Business drivers for considering and hiring LTU 
Hiring the LTU can provide a significant competitive advantage for busine...
Increases access to quality talent 
By hiring LTU talent, businesses will find qualified, engaged, and diverse employees. ...
Builds your brand 
Simply by giving LTU job seekers a fair chance at open jobs, businesses will build their local brand by...
Reduces recruiting costs 
Businesses can significantly enhance sourcing support and reduce recruiting costs by collaborati...
References and sources 
1”The Employment Situation – August 2014.” Bureau of Labor Statistics. Department of Labor. 5 Sept...
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Tapping into a Frequently Overlooked Talent Pool: A Business Case for Hiring the Long-Term Unemployed

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he Bureau of Labor and Statistics, U.S. Department of Labor, reported that as of September 2014, more than 3 million Americans (of all ages, ethnicities, geographies, industries and education and experience levels) were long-term unemployed — actively seeking work for more than 27 weeks without success. One of the worst legacies of the Great Recession, long-term unemployment is the defining employment challenge of our post-recession economy.

More than 300 leading companies, including Deloitte and 20 members of the Fortune 50, have signed on to the White House’s Best Practices for Recruiting and Hiring the Long-Term Unemployed. These companies have committed to addressing this issue not only because it’s the “right thing to do,” but because it also makes business sense.

"Deloitte is committed to helping tackle the long-term unemployment challenge by providing job seekers, employers and community leaders with resources to connect dedicated workers with open talent needs and strengthen America's workforce,” said Jim Moffatt, CEO Deloitte Consulting LLP.

Hiring the long-term unemployed: Providing a significant competitive advantage for businesses and helping to strengthen the U.S. economy

For more information, visit https://www.deloitte.com/view/en_US/us/About/social-impact/540aa1db85f58410VgnVCM3000003456f70aRCRD.htm

Publié dans : Business
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Tapping into a Frequently Overlooked Talent Pool: A Business Case for Hiring the Long-Term Unemployed

  1. 1. TAPPING INTO A FREQUENTLY OVERLOOKED TALENT POOL A Business Case for Hiring the Long-Term Unemployed
  2. 2. Usage guidelines These materials are intended for use in educating your organization on business reasons for hiring the long-term unemployed (LTU). They provide rationales for how hiring the LTU can provide a significant competitive advantage. Below are some suggestions for use: Considering and hiring the LTU starts at the top. Use this business case to educate organizational leadership (i.e. CHRO, CFO, etc.) on the LTU issues and business drivers for focusing on this often overlooked talent pool. Share these materials with Talent leadership and staff to align on business and talent strategy for hiring the LTU. Encourage your Talent and HR staff to leverage this business case and communicate the organization’s commitment to hiring the LTU, i.e. discussing in company communication channels and in meetings. Print hard copies, email electronic versions, or post on your internal website so organizational leaders and staff can reference the business case in the future.
  3. 3. Actively recruiting and hiring the Long-Term Unemployed (LTU) makes business sense Hiring the LTU can provide a significant competitive advantage for businesses and help strengthen the U.S. economy. The LTU Issue Business Drivers for Hiring LTU Increases access to quality talent Builds your brand Reduces recruiting costs 3.0M American LTU have been job searching for 27 weeks or more 2 Average callback rate for LTU are 45% Lower than the recently unemployed 1 LTU with relevant experience are 1/2 as likely to receive an interview callback than the recently unemployed with NO relevant experience 3 FACT: Studies suggest companies hiring LTU experience a more reliable and loyal workforce as well as higher retention rates 4 FACT: 92% of consumers would purchase products with a social or environmental benefit 5 FACT: Working with intermediaries can help reduce your recruiting costs 6
  4. 4. The Long-Term Unemployment (LTU) issue in the U.S. According to leading economists, the current high level of LTU can result in lasting damage on the U.S. economy. SKILLS DETERIORATION, AN INCREASE IN STRUCTURAL UNEMPLOYMENT, AND LOWER LABOR FORCE PARTICIPATION ARE POTENTIAL CONSEQUENCES OF THE HIGH LTU RATE 3.0M(job searching for 27 or more weeks) LTU individuals in the U.S.1 27% 24.5% THE LONG-TERM UNEMPLOYED FACE SIGNIFICANT DISADVANTAGES (I.E. STIGMA) SIMPLY BECAUSE OF THE GAP IN EMPLOYMENT LTU rate remains 2.5 times higher than the pre-recession average Account for 32.8% of the unemployed Long-term unemployment affects Americans of all ages, ethnicities, geographies, industries, education, and experience levels. of LTU have post-secondary degrees of STU have post-secondary degrees Apply to Apply to 3.5 TIMES more jobs than recently unemployed job seekers 2 45% lower callbacks for interviews 2 Those who are unemployed for 7 months with relevant experience are 1/2 As likely to receive interview callbacks than those who are unemployed for 1 month with no relevant experience3
  5. 5. Business drivers for considering and hiring LTU Hiring the LTU can provide a significant competitive advantage for businesses. It can bring financial value to your organization while enhancing your organization’s talent acquisition strategy. Increases access to quality talent Builds your brand Reduces recruiting costs
  6. 6. Increases access to quality talent By hiring LTU talent, businesses will find qualified, engaged, and diverse employees. Increase access to qualified and motivated talent Increase access to diverse talent A recent study supports anecdotal evidence that the LTU may be more reliable and loyal workers, leading to higher retention rates4 30% of the millennial and Generation X workforce considers employers commitment to diversity and inclusion when looking for employoment8 50% Of LTU belong to a racial minority group8 LTU represent a strong source of diverse candidates 44% are female8 A study of nearly 20,000 sales and service workers found virtually no performance difference between workers who were previously LTU and short-term unemployed7 The same study also found that workers who were previously LTU perform slightly better in average transaction time and schedule adherence7
  7. 7. Builds your brand Simply by giving LTU job seekers a fair chance at open jobs, businesses will build their local brand by investing in the people and communities they serve and their national brand by helping to solve a serious problem affecting the country’s economy. Strengthen your local brand Strengthen your national brand 55% of surveyed consumers 300+ Leading companies signed the Best Practices For Recruiting and Hiring the Long-Term Unemployed 85% of surveyed consumers #1 issue consumers want addressed is local investment in people, job creation, and infrastructure11 Empowering local economies makes you a business of choice Be part of a large group of companies that is publicly committed to solving this issue consider whether a business supports local communities when purchasing products10 will spend more on socially conscious companies12
  8. 8. Reduces recruiting costs Businesses can significantly enhance sourcing support and reduce recruiting costs by collaborating with intermediary organizations that work with LTU. Enhance sourcing support Reduce recruiting costs 118 Average number of applications submitted for an online job posting13 Intermediaries can help decrease time spent on reviewing resumes and pre-screening candidates $3,500 Average cost of hire a company spends per new employee14 American Job Centers or intermediaries can help reduce job board fees 
  9. 9. References and sources 1”The Employment Situation – August 2014.” Bureau of Labor Statistics. Department of Labor. 5 September 2014. ttp://www.bls.gov/news.release/empsit.nr0.htm 2Kory Kroft, Fabian Lange, Matthew J. Notowidigdo, and Lawrence F. Katz, “Duration Dependence and Labor Market Conditions: Evidence from a Field Experiment," The Quarterly Journal of Economics, September 2013. 3Rand Ghayad, “The Jobless Trap” Job Market Paper, Working paper, 2013. http://media.wix.com/ugd/576e9a_f6cf3b6661e44621ad26547112f66691.pdf 4http://www.workinglinks.co.uk/PDF/The%20Responsible%20Employer%20July%202012%20Full%20report.pdf 5 http://www.marketingprofs.com/charts/2013/10966/consumers-prefer-brands-associated-with-good-causes 6Based on feedback that Deloitte received from multiple interviews with employers and intermediaries. 7Housman, Michael. “The Truth About the Long-Term Unemployed”. EvolvWorkforce Insights. 2014. 8Talent Edge 2020: Building the recovery together—What talent expects and how leaders are responding, Deloitte, April 2011 9Executive Office of the President. “Addressing the Negative Cycle of Long-Term Unemployment.” White House Report. January 2014. 10http://www.conecomm.com/stuff/contentmgr/files/0/fdf8ac4a95f78de426c2cb117656b846/files/2013_cone_communicationsec ho_global_csr_study.pdf 11http://www.marketingprofs.com/charts/2013/10966/consumers-prefer-brands-associated-with-good-causes 12http://www.nielsen.com/us/en/press-room/2014/global-consumers-are-willing-to-put-their-money-where-their-heart-is.htm 13http://www.forbes.com/sites/jacquelynsmith/2013/04/17/7-things-you-probably-didnt-know-about-your-job-search/ 14O’Leanard, Karen. “The Talent Acquisition Factbook 2011: Executive Summary.” November 2011.

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