As 2016 comes to an end, employers and staffing agencies begin the year with a number of factors that will impact the hiring landscape in 2017. From welcomed changes in recruitment advertising, to a shift in the age of the workforce, companies have the opportunity to embrace and strategize on ways to optimize hiring. These 4 factors are some of the unique trends we will see in the coming year:
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 are looking for 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 your company. Be sure your company page is updated and delivers an experience of what it’s like to work at your office. Apply for awards and share them on your blog.
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 buzzword in our industry. Programmatic means automatically buying and placing job ads based on predefined rules and letting the technology do the work. This has been a revolutionary change in the way HR professionals buy job ads, and it’s all about spend efficiency.
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.
3. “Boomerang” employees
A boomerang employee is someone who had previously left your company, but returns to work for you 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. 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. Form an alumni group and keep these former employees connected.
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.
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