The Importance of a Positive Employee Exit Experience + Rising Recruitment Fraud: Safeguard Your Job Search with a Trusted Recruiter

The importance of a positive employee exit experience

According to Gallup, only 10% of CHROs believe their organization is highly effective in managing employee departures. And just like a first impression, a company's final impression is lasting.

Gallup's research highlights three key reasons to create a positive exit experience for employees:

• Creates Brand Ambassadors: Positive exit experiences can turn departing employees into brand ambassadors, enhancing your company's reputation
• Encourages Boomerang Employees: Former employees who leave on good terms are more likely to return in the future
• Rallies Your Team: A positive exit experience can boost morale and support within your remaining team

Ensure you create a positive experience for employees from start to finish. It matters to employees, and in the long term, it helps your company's brand reputation. Contact us at HTI to learn how we can help you manage employee departures effectively.

Rising recruitment fraud: safeguard your job search with a trusted recruiter

For jobseekers aiming to secure a great position, partnering with a trusted recruiter is more important than ever.

Recruitment fraud has become increasingly common. It occurs when a job advertisement or recruitment outreach appears genuine but is actually a scam designed to deceive applicants and steal their personal information.

Per a recent SHRM article, recruitment scam incidents shot up by 118% in 2023 compared to the year prior. The Federal Trade Commission (FTC) reported 77,612 claims of business and job opportunity fraud during the first three quarters of 2023. This led to a median loss of over $2,000 for each victim.

Most targeted groups include new college graduates, people seeking remote work, and those who share on social media that they've been laid off.

To protect yourself and maximize your job search, collaborate with a reputable recruitment firm that has a proven track record. Make your job search smarter and safer by choosing a trusted partner.

July's Employment Situation from The Bureau of Labor Statistics

The Bureau of Labor Statistics reported that July's unemployment rate increased to 4.3%. Additionally, nonfarm payroll employment increased modestly by 114,000 (below the average monthly gain of 215,000 over the prior 12 months).

Other data points from the report:

• The number of unemployed people increased by 352,000 to 7.2 million, higher than a year earlier when it was 5.9 million
• The number of people not in the labor force who currently want a job rose by 366,000
• The labor force participation rate changed little in July at 62.7%

Hiring slows & unemployment rises: key economic indicators

As noted by Reuters, employers have slowed hiring, adding an average of roughly 170,000 jobs each month over the last three months compared to 267,000 jobs per month in the first quarter of 2024.

In addition, the unemployment rate, now at 4.3%, is the highest it's been in roughly three years. Reuters reports "Its rise from a five-decade low of 3.4% in April 2023 to now the highest level since September 2021 all but guarantees a September interest rate cut from the Federal Reserve".

Economic indicators like the unemployment rate, job creation, and other financial measurements are crucial for employers to monitor to effectively plan for hiring, manage expenses, and re-evaluate business strategies.