In 2019, many Talent Acquisition teams faced challenges and changes. And based on Glassdoor’s Chief Economist Dr. Andrew Chamberlain’s predictions, there is more to come in 2020. Dr. Chamberlain has spent years gathering data and studying the labor market, and he has provided a summary of his findings in a new report, Glassdoor’s Job & Hiring Trends for 2020. In it, he provides recruitment professionals insight into key areas of focus to prepare for successful hiring in 2020. These areas include:
1. Make company culture a top priority.
A strong company culture is a necessity. Now more than ever, poor company culture can have a negative impact on a company’s retention and hiring ability. Today’s worker prioritizes culture and views monetary compensation as less important. Companies with better cultures tend to perform better financially, attract talent more easily, and have more satisfied customers.
Glassdoor points out the main drivers of employee satisfaction and positive culture as:
- High-quality senior leadership
- Career growth opportunities
2. Be prepared for a recession.
It is not clear as to when or if a recession will become a reality in 2020, however major indicators suggest that preparation and precautionary measures should be underway. Hiring during a recession can yield a larger pool of available candidates, however the level of skills available can become a challenge. Glassdoor suggests that in order to be prepared to hire and retain candidates during a recession, organizations should:
- Continue to invest in their culture
- Grow their employer brand
- Research and invest in the right marketing in order to identify strong candidates
3. Mobile applications are a must.
The current number of Americans who own a smartphone and use it (instead of a laptop) for their job application is expected to be nearly 80% in the next five years according to the World Advertising Research Center. Improving the mobile application experience can increase the quality and quantity of candidates.
Employee retention is also key to hiring success in 2020, and while sourcing candidates recruitment professionals will need to quickly zero in on four key trends this year to attract and keep employees. The areas trending are:
Considering these trends will create an agile, flexible, and inclusive culture that appeals to strong candidates. It will also help retain these individuals for years to come.
Starting a new year is an exciting time and offers a fresh start filled with optimism. When we use this time to consider what is currently trending or driving the workforce and job market, we are positioned for success. Using the research data to design a recruitment strategy that focuses on the areas that matter most to our candidates will increase our ability to meet hiring goals and retain a skilled, motivated team that is dedicated to the success of their organization.
Additional ASE Resources
ASE Talent Acquisition - ASE can help you with your recruiting efforts, whether it be for direct hire or temporary positions. ASE members benefit from a 10% direct hire placement fee. For more information, please contact Anthony Kaylin.
Sources: Source: Glassdoor.com; Instant office