DID YOU KNOW: The talent pool is shrinking.
Why? Confidence in the growing economy has led to major hiring spikes. Now those qualified and happy employees are off the market. This is especially true for the skilled trades. Over the past several years, employers have been taking advantage of the economic boom by expanding their companies. Companies are continuing to expand, but there are less candidates to choose from.
DID YOU KNOW: Diversity is IN.
On May 29th, 2018 Starbucks closed its doors to offer a day of diversity training to its employees. Companies are focusing more on hiring for inclusion than ever. With the shrinking database of potential candidates, it’s becoming increasingly harder to round out the team. Diversity has always been important, but over time studies have shown that diversity is increasing profitability and engagement at work, which is something all CEOs want.
DID YOU KNOW: It’s all about compensation.
Going back to the first point, everyone is hiring. This means that your employees could just close their eyes and pick a job. To keep the good employees, more business owners are concerned about compensation to keep their employees around. This can range from offering sabbaticals, personalized benefits packages, personal days, or employee rewards.
DID YOU KNOW: Robots are taking over.
Well, not really, but more and more of the hiring process is going tech. From Skype interviews, phone screens, online skills testing, the whole shebang. If you didn’t already know, the force that is technology is even leading to the use of artificial intelligence to do some of the grunt work in hiring.
DID YOU KNOW: Employer/employee relationships are changing.
This comes from the changing job market and the differences between the generations. From standing desks and open office policies to more freelance and pop-up shop opportunities, these jobs are changing how employers communicate with their employees. Not to mention the ease of texting over email.
The tides are changing, and even though some changes have been long and slow, they are continuing to develop and should never be taken for granted. All it takes is one drop to overfill a bucket. Make sure your bucket—or company—does not overfill—or fall behind—by paying attention to the changes in flow—or hiring trends.
If you have any questions about what these trends could mean for your specific company, contact us at: firstname.lastname@example.org. We would love to have a chat with you about what you can do to keep your employees or find the best candidates to complete your team before the talent pool gets too small.