By: Monazza Awan
From the surging economy to the movements around social justice, there are a number of economic and social forces expected to shape hiring trends in 2018.
The biggest factor expected to affect hiring in 2018 is the very low unemployment rate. In fields like technology and healthcare, the demand for talented professionals far outstrips the supply. In the fossil fuel, news and a few other industries, however, job prospects are as tough as ever.
Shaped by both long and short-term forces, the following trends are expected to rise up in the coming year.
Greater Focus on Diversity
A number of social movements have been focused on the opportunities, or lack thereof, for women and minorities in the workplace. Companies are expected to respond to these movements by voluntarily increasing the amount of diversity in their own workforce.
Focusing on increasing diversity has more benefits than simply staying out of the headlines for the wrong reason. When a company truly embraces people with a wide range of backgrounds, it opens up more possibilities for innovation and creates a more vibrant corporate culture.
Employers looking to make their workplace more diverse should connect with various community and special-interest groups.
Professional sports teams famously cite analytics to find “diamond in the rough” players, or players who can play a large role in winning, whose contributions are difficult to measure using traditional statistics. HR departments are now getting into analytics with the goal of increasing hiring speed and quality.
An HR analytics system gathers information on the performances of new hires and compares that information to assessments made of these same workers during the hiring process. This system creates an ongoing feedback loop where the more hires that are made, the more informed hiring personnel are on what they should be looking for in applicants.
In addition to improving the hiring process, HR analytics solutions can also help determine the return on investment (ROI) for HR investments and how various employees contribute to productivity.
The rise of analytics does come with one caveat: Those using it must be sure it doesn’t lead to discriminatory hiring practices.
Leveraging the Gig Economy
The internet and technology has empowered individuals to pursue career options that were never possible before, creating what has been dubbed the Gig Economy. Companies looking to take advantage of this section of the economy will look to hire more contractors and freelancers.
By embracing independent workers, companies can fulfill a need for on-demand talent and quickly alter staffing levels with minimal investment.
Greater Reliance on Existing Staff
With companies finding it difficult to source the talent they need; many organizations are looking for ways to better leverage their current workforce. This might mean cross-training employees to take on other job duties or take on new positions altogether. Companies might also incentivize their employees to increase their skill set, possibly by offering tuition reimbursement programs or paying for certifications.
At Cornerstone Staffing Solutions, we look forward to helping our clients meet their talent needs in 2018 and beyond. If your company is currently looking for a custom talent solution, please contact us today.