Phoenix Partners wishes you a Happy Holiday and a prosperous New Year. We thought we’d round up some hot topics in hiring to watch for in 2020.
Culture-First Thinking Prevails
According to a recent Glassdoor 2020 Hiring Trends Survey, workers increasingly value company culture over compensation. With this in mind, CEOs of major companies are shifting from directing communications only to shareholders to including prospective and current employees in their messages. In 2020, leading companies will treat employee engagement as a core business focus, Glassdoor predicts.
Employer Branding Is Crucial
Likewise, savvy companies will work hard to promote their companies as attractive places to work. Increasingly, companies will use consumer marketing tactics such as content marketing, branded email and social recruiting to attract the best talent, according to the Harvard Business Review.
Economic Slowdown May Worsen Skills Gap
After a decade of prosperity, indicators suggest that a recession, or at least an economic slowdown, may be in the near future. Indicators include the slowing pace of job gains, which have decreased from an average of 223,000 per month in 2018 to 167,000 per month in 2019. A study by Wiley Education Services and Future Workplace found that 64% of human resources leaders already see a growing skills gap in their companies with a year-over-year growth of approximately 12%. Employers may find it more difficult to address the gap if the economy slows. It’s prudent to devise a recession-proof plan to close the gap.
Mobile Job Search Dominates
Close to 90 percent of job seekers now utilize a mobile device when looking for a new opportunity, but only 22% complete online application on mobile vs. 47% on desktop according to a Glassdoor study. Competitive employers will seek to increase mobile application rates by creating better user interfaces and implementing text-based communications and notifications.
Artificial Intelligence (AI) Use Will Increase
Human resources will increase its use of AI for tasks such as scheduling interviews, screening resumes and communicating with candidates, according to a Korn Ferry survey. The automation of routine management and training is also likely to increase over the coming months, with tasks such as basic employee coaching moving toward an AI-focused model that can provide real-time feedback.
Data-Driven Recruitment Strategies Will Grow
Data-driven recruitment is the process of optimizing the candidate’s journey from awareness to consideration by leveraging data on the candidates you want to recruit. Tracking recruitment metrics will give better insight into the success rate of the process. Companies who make a serious effort to improve data-driven recruitment strategies will be poised to win the talent war.
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