We pay a lot of attention to industries such as retail, technology, life sciences and the changes they make to remain relevant in the increasingly digital marketplace. One Google search will yield thousands of results identifying everything from major opportunities to serious threats within these changing landscapes. Funny enough, similar data regarding staffing and hiring are rarely as visible to the public yet equally - if not more - useful in your daily life.
Why? Pretty simple, really...we use them every day. We use Uber and Amazon Restaurants and shop at Target on a weekly basis, whereas we only apply for jobs when we need to (or, in some cases) have no other choice.
So, what’s changing about the process annually? We have identified a few things to expect in 2017 and some tips on how to thrive. Many thanks to SHRM.com for the help here!
1. The rise of the gig economy
2017 will present the largest freelance and contract workforce, with some estimates stating roughly 40% of employees as part of the so-called gig economy. These workers, millennials in particular, favor having control of when and where they choose to work. In fact 1 in 3 millennials currently hold a gig job.
This growth means that employees like us want more flexibility, a strong work-life balance, and a heavy reliance on technology. Remote working tools, cloud capabilities and mobile apps allow employees to have a new relationship with work, one that is growing more and more appealing. Notable employers in this space include AirBNB, Uber, and Postmates and Instacart, to name a few.
In the coming year, we can expect to see anyone from recent high school graduates to former full-time workers make the switch. As a full-time employer, the competition and the war for talent is getting tougher. It is vital to find resources that will help drive these types of candidates to your jobs. Job seekers tend to visit 15 different resources when researching companies; perhaps it’s time to see which organizations offer these options if you’re so inclined.
2. Predictive analytics
Traditionally, employers paid a fixed cost for each job post. However, in the past few years, “programmatic” job advertising has become the norm, as companies are automating ads and job postings, letting technology do the work.
Predictive analytics takes efficiency one step further by predicting how many candidates a single job can reach, the number of applicants expected, and the budget needed. With this automated assistance, employers and job seekers alike can get the most out of their search. The recruiters and hiring managers who adopt this new technology now and use it to their advantage may find it easier and more efficient to find talent. You, the employee, will have some consistent communication in regard to a posting and know where you stand and next steps.
3. “Boomerang” employees
A boomerang employee is someone who had previously left a company, but returns to work for them at a later date. There are many reasons why a person may leave an organization, the lure of more money, a better title, a better schedule, an untimely life event, etc. But the number of those seeking out their former employers is on the rise. A former employer will need less time in training and is most likely a trusted individual who knows the lay of the land. Companies should form an alumni group and keep these former employees connected. You - as the employee- should remain active and in good standing.
4. Retiring workforce
According to a study done by the Insured Retirement Institute, each day for the next decade, 10,000 baby boomers will retire, many of them holding top company positions. This means that younger generations will be taking over prominent positions, and this will require companies to prepare effective transition efforts.
While the loss of these employees will certainly impact operations, this shift in power elicits an opportunity for younger generations to engage in new leadership styles. As hiring managers plan for 2017, understanding the generational shift in the workforce will be an important factor in understanding hiring dynamics in the new year. As a new job-seeker, you should know the ins and outs of the Baby Boomer generation and how to collaborate effectively.
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