As the U.S. unemployment rate has soared to a 16-year high of 8.1 percent1, service industries that employ a high percentage of hourly workers are experiencing a sharp increase in the number of job applicants
CHELMSFORD, Mass. (March 16, 2009) –
As the U.S. unemployment rate has soared to a 16-year high of 8.1 percent1, service industries that employ a high percentage of hourly workers are experiencing a sharp increase in the number of job applicants. This surge has created a massive hiring challenge for Kronos customers in industries such as retail and hospitality. In 2008, these organizations saw a 40 percent increase in the average number of applications per hire compared with 2007. The challenge is further complicated because these organizations have fewer dollars to spend on technology and solutions to automate the selection and hiring process, but acknowledge that putting the best employees in front of their customers is critical. In response to this dynamic, Kronos® Incorporated today announced the availability of pay-per-hire pricing for its selection and hiring solution targeted at medium to large sized companies.
“The growing misalignment in the applicant-to-job ratio has added complexity for employers seeking to hire the best people,” said Steve Earl, director of marketing at Kronos. “In a down economy, employee selection becomes even more critical because hiring the best employees is imperative to maintaining desirable levels of customer service. By providing the Kronos selection and hiring solution on a pay-per-hire basis, we’re addressing employers’ needs for hiring best-fit employees without a long-term commitment or large up-front costs.”
The first on-demand pricing model of its kind for field and hourly hiring enables organizations to pay only for the hires they make, with minimal up-front investment or long-term financial commitment. Earl added, “The premise of this model is simple: once up and running, if organizations do not hire, they do not pay.”
“Today’s uncertain economic climate has changed hourly hiring for the foreseeable future,” said Lisa Rowan, program director, HR, learning, and talent strategies at IDC. “Faced with more applicants, fewer job openings, and increased applicant diversity, hiring managers stand to benefit from a cost-effective, easy-to-own solution that enables them to find best-fit employees quickly.”
The new pay-per-hire pricing model is also more cost effective for businesses that have cyclical hiring patterns. Many retailers, for example, hire as much as 50 percent of their employees during the months leading up to the holiday season. This new pricing structure from Kronos will enable such organizations to save dollars during months when hiring is at a minimum.
Availability
Pay-per-hire pricing is available now. Call (800) 355-4547 or visit our website for more information.
About Kronos Incorporated
Kronos is the global leader in workforce management solutions that enable organizations to control labor costs, minimize compliance risk, and improve workforce productivity. Tens of thousands of organizations in 60 countries — including more than half of the Fortune 1000® — use Kronos time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications. To learn how Kronos uniquely delivers complete automation and high-quality information in an easy-to-use solution, visit www.kronos.com.
Footnote 1: Bureau of Labor Statistics of the U.S. Department of Labor, “The Employment Situation: February 2009,”
www.bls.gov/news.release/empsit.nr0.htm, March 6, 2009.
©2009 Kronos Incorporated. Kronos and the Kronos logo are registered trademarks of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Source: Kronos