Due to consistent job growth over the past several years, the unemployment rate fell to 4.6%, its lowest rate since August 2007. Despite this growth, there are several factors that the U.S. labor market will have to face moving forward.
As the job market continues to grow, we’re expected to see more organizations hiring and more job opportunities becoming available. This will cause a shift to create more of a “candidate market” where candidates will have more options at their disposal while searching for potential jobs. Organizations will have to implement a stronger search for candidates and find more ways to attract talent, as well as keep their current employees content.
New Workforce Trends
The Candidate Experience
The term “candidate experience” isn’t new, but many organizations have yet to fully grasp the concept. The “candidate experience” includes both potential new employees and an organization’s current workforce. With more and more job opportunities becoming available, organizations need to determine how to retain their current talent, while at the same time figure out how to attract new talent to add to staff. Once an organization determines what makes their employees happy, they need to highlight and display this to potential candidates in order to stand out among competing organizations.
Increasing Skills Gap
As technology keeps advancing and the job market continues to expand, there are less candidates qualified to fill these roles. In order to combat this shortage of skilled workers, organizations will have to be dedicated to addressing these issues and support these personnel needs. Organizations are starting to provide more training and upgrade skills of their current employees, as well as recruit and maintain a more diverse workforce.
Generation Z is Coming
Generation Z, those who were born in the late nineties to now, will soon be entering the workforce. This generation is unique in that they don’t know a time before social media, they know how to self-educate and find information online, and many will be working in jobs that don’t exist now because of technological advancement. These candidates will be looking for job security in employment, want an opportunity for growth within each role they take on, and believe their employers should be as digitally connected as they are. Employers need to be aware of these differences in this workforce and adapt to attract these candidates. Organizations will need to provide professional development opportunities, allow access to technologies that help employee efficiency, and maintain a collaborative working environment.
Millennials are Transitioning to Management
As more leaders and managers become ready to retire, millennial professionals are set to take over their roles. The Millennial generation will bring a change to the idea of management in the workplace, with a focus on collaboration and flexibility. New management styles will range from implementing more work-life balance initiatives to offering transformed managing varieties, all while keeping focus on a positive company culture.
Evolution of a ‘Blended’ Workforce
Organizations now have a blended workforce, meaning there is a mix of temporary positions, freelance workers, and remote employees all working hand-in-hand with full-time employees. With more candidates wanting flexibility and the option to work remotely, this style of workforce will continue to rise. Organizations can utilize this blend of workers to cut down on costs, as well as take advantage of a more diverse pool of talent.
What does this mean for JOHNLEONARD?
JOHNLEONARD will continue to work with our clients to show them how they can become an “employer of choice” and engage more qualified candidates. We will identify those current benefits that will allow them to stand out from the competition and identify the changes they may need to make to become more attractive to candidates. We’ll continue to foster these client relationships by delivering employment expertise, exemplary customer service, and a true consultative partnership.
Our candidates will similarly need to know how to sell themselves and their skillset to those organizations hiring. Our Recruiters, Staffing Consultants, and Staffing Managers will be hands-on in working with these candidates to provide job survival tool kits, educate them on how to represent themselves in an interview, and ultimately prepare them to be a competitive candidate throughout their job search and hiring process.
We will provide our client organizations with the essential information and processes needed to get the right individuals in the right roles. We’ll also continue to make a variety of job search materials and preparation guidelines available to assist our candidates throughout the entire hiring process. As we have since 1969, JOHNLEONARD will deliver expertise and true customer service to both our client organizations and candidates.
Linda J. Poldoian