The past few years have caused a glacial shift in the overarching priorities that today’s talent pool value most, and as a result job trends have followed suit. The vast majority of job seekers have taken this time to reassess what is important to them and are thus much more selective than ever in both accepting job opportunities and in making a choice to stay put. As hiring managers, we’re sure that you’re feeling the effect of this on a daily basis.
So, the million-dollar question is, what exactly are today’s job trends now that we are in Q1? And how, as a company looking to hire and retain talent in today’s market, can you ensure that you are remaining competitive?
The team at Indeed recently published their Outlook: Trends and Predictions for Job Seekers – and we think it’s pretty spot on with what we’re seeing year-to-date. Here are the biggest takeaways that we think all hiring managers should have on their radar.
1) Remote work is the “new normal.”
The number one job trend: remote work is staying put. Most employees have adapted to remote work and enjoy the flexibility it provides. Indeed’s survey reported that “When asked for the factors that contributed to their decision to leave their current jobs, workers reported remote work as one of the biggest reasons. Indeed survey data says that 45% of respondents reported that they switched jobs because their employers did not offer flexibility on remote work.” The lesson here? If you aren’t offering your current (and future) talent pool remote work options where applicable, you will likely begin to see even greater turnover and face an uphill battle when recruiting for new hires. Consider reevaluating some of your retention strategies to see if/where you add value.
2) Job seekers are keeping their standards high.
These past few years have created a shift in priorities for many job seekers and an overall sentiment of ‘life is too short to stay with a position I’m not passionate about.’ As the Indeed survey highlights, “Three-quarters of employees surveyed noted that the labor shortage presented them with new career opportunities they would not have had otherwise, encouraging them to switch jobs [and] 85% of job seekers are looking for a big change.” Now is the time to revisit your firm’s internal career path program. Investing time, money and resources in this is a crucial part of your proactive approach to retaining your top talent, as well as attracting future talent. Another job trend to consider as a result of this is that workers open to temporary opportunities could likely be on the rise – as job seekers will want to learn new skills until they find a more permanent position.
3) Flexibility is key.
Anxiety about returning to the office is real. Precautionary health guidelines are an active part of our daily lives, and that goes way beyond the workplace. With a large portion of today’s workforce responsible for taking care of young, elderly or sick family members, flexibility in their schedule will be essential for most prospective employees. Whether this means prioritizing a hybrid work environment or a position offering flexibility in work hours, most job seekers will be looking for a role that allows for work/life balance. Wondering where to start? You can learn more about managing a hybrid workforce with our 6 Tips to Building an Inclusive Hybrid Workplace.
4) Keeping up with competitive salaries.
Another top job trend continuing: supply is low, and demand is high. Therefore, job seekers are in a unique position with the upper hand during salary negotiations. The survey data suggests “that while flexibility and remote work drove initial pandemic job switches, the opportunity to make more money quickly became the top motivator to continue the job search.” As hiring managers, you need to maintain a constant pulse on the often-volatile job market to ensure that you are offering competitive salaries. Salary guides are a great tool to use if you’re looking for the most up to date competitive data.
Finding the gold-star candidate, while simultaneously focusing on retention of your current talent pool, is hard enough with the changes that the new social terrain has established; however, staying informed on the rapidly developing job trends is a must in order to stay competitive.
