The Miami Economic Outlook
After a few less-than-ideal years, the Miami economy is bouncing back. In May, the unemployment rate dropped to an impressive 4.6 percent, marking a notable decrease from the 5.7 percent realized during the same time period in 2015, according to Bureau of Labor Statistics (BLS) data released on June 29, 2016. The Miami leisure and hospitality industry realized notable employment gains, increasing by 3.7 percent. In 2015, a record 15.5 million people visited Miami, spending a total of $24.4 billion locally — a 2.3 percent increase from 2015 — according to data from the Greater Miami Convention & Visitors Bureau. Miami Hotel Industry Nearing Its Peak Hotel revenues and occupancy rates are starting to even out in Miami, causing experts to predict the industry could reach its peak in 2016, according to The Real Deal, a South Florida real estate blog. In 2015, more than 44 million people traveled through the Miami International Airport, which likely contributed to the 6 percent revenue per hotel room increase, reaching almost $153, noted STR data. As of January 2016, an estimated 6,000 hotel rooms were either under construction or soon-to-be, according to the Miami New Times, which will undoubtedly bring many new restaurants, bars, clubs and pools that need to be staffed. More places to stay will encourage even more tourism, as people can’t get enough of Miami’s incredible weather, gorgeous beaches and incredible nightlife. Miami Hospitality Workers Earn Top Wages A bustling hospitality industry doesn’t just mean big profits for Miami business owners. Hardworking hospitality workers earn higher salaries in Miami than in many other cities. In 2015, Miami made the BLS’s top 10 list for highest-paying metropolitan areas for bartenders. The mean annual salary for bartenders is $19,530, as of May 2015, but the Miami average salary for the job is $32,330. Similarly, the BLS defines Miami hotel managers as lodging managers who earn well above the national average for the job. The mean annual salary is $57,810 as of May 2015, but Miami hotel managers take home an average of $100,690 annually. The Miami hospitality industry is truly a fantastic place to be. Whether you’re an employer searching for top talent or a professional ready to take on a new challenge, RMG Staffing is here to assist. Contact us today to find out how we can make your future brighter!
Three Questions to Ask a Job Seeker Re-entering the Workforce
Assessing and interviewing a candidate that is re-entering the workforce after an extended absence can be a tricky task to handle. While some absences are legitimately explainable, others might not be readily excused. Moreover, those who place their career on hold for personal or unannounced reasons can complicate the matter even further. With that in mind, it’s important for an interviewer to ask the right questions of those candidates who are just now returning to the workforce. Not only can it help you locate and retain top talent in for your organization, it can even help the job seeker determine if your company is the right place to make their return. Why They Left the Workforce in the First Place From the recruit’s perspective, this might be the toughest question of the entire interview process. However, it should be asked when interviewing a job seeker who has recently returned to the workforce. While some candidates may have an answer ready, others may have personal or otherwise unannounced reasons for putting their careers on hold. Other times, a candidate’s reason for leaving their career may be entirely beyond their control. Sudden changes in living situation, unexpected lay-offs or terminations, and a plethora of other factors can all affect one’s ability to maintain constant and steady employment over a long-term basis. Reason for Returning and Choosing Your Company Next, you’ll want to find out a job seeker’s exact reason for returning to the workforce. It could be something as simple as a dwindling savings account or an overabundance of free time, or it could be a result of newfound training, education or professional development. In either case, find out their reasoning before committing to a new hire. Doing so can go a long way in securing and retaining employees that will have a positive impact on your company’s bottom line. Once you’ve established a candidate’s reason for re-entering the workforce, inquire about their reason for choosing your company. This could be something simple; perhaps your ad was the first one they saw or maybe they were recommended by a friend. Conversely, it could involve a lack of income, too much free time or the desire to advance one’s career to the next level. Whatever the case may be, it’s important to understand their reasoning in order to make sure their abilities align with the needs of your company as well as those of the job in question. What Have They Done to Keep Their Skills Fresh and Current Finally, ask these recruits how they’ve been able to maintain their skill sets and expertise during their absence. The answer may be obvious for those who are re-entering the workforce with brand new degrees and credentials, but others may have completely ignored their career skills during this time. Either way, it’s important to know what you’re dealing with before onboarding the latest interviewee. Finding Top Talent in the Hospitality Industry Depending on your exact area of expertise, it can be difficult to find talent that is reliable, reputable and experienced. If you have difficulty locating or retaining hospitality workers, please contact RMG Staffing today!