With 2020 now upon us, it’s important for HR professionals and hiring managers to look at the hiring trends for this year and beyond.
An analysis of today’s job market suggests an economy shaped by several factors, including a gig economy that continues to expand, and a skills gap that’s been identified by many human resources professionals.
What’s more, by many estimates, the U.S. economy is considered at full employment. For employers, that means many positions remain unfilled because the number of jobs exceeds the number of candidates. That means HR professionals, hiring managers and recruiters will need to compete for top talent and recruiting tactics will need to be more innovative.
Here are some hiring trends to look for and leverage in 2020 and beyond:
The Importance of Employer Branding
In today’s highly competitive talent market, a compelling employer brand and employee value proposition are important keys to attracting the best candidates. Businesses with excellent employer brands receive nearly 50% more qualified applicants – and having a great brand image helps in reducing hiring costs per candidate.
Increased Use of Data-Driven Recruiting and HR Analytics
The proper use of HR analytics has been proven to enhance a number of key hiring metrics, including quality-of-hire, cost-to-hire, and time-to-hire. Businesses are turning to data-driven recruiting to maintain their overall talent lifecycle and help drive and enhance their recruitment strategy. These measures include skills gap analysis, workforce planning, assessment, engagement, and retention.
Candidates are using Mobile for their Job Search
A recent Glassdoor study found that many companies haven’t created a truly mobile-first experience, and as a result, companies are turning high-quality candidates off. If you don’t want to lose out on top talent, it’s important to make a mobile-friendly application process a top priority for your career site. With a little foresight and planning, you might just be able to give your company the competitive edge you need to hire and retain top talent.
The Candidate Experience Is More Important Than Ever
The opinion of candidates will be more important than ever in 2020. At every stage of the recruitment process, candidates are thinking about whether they like the company or not. Is it a good fit for them? Do they like the benefits? Are the employees nice? All of these questions are relevant when studies have shown that almost 90% of candidates will change their mind about a company if the candidate experience is lacking. This means that addressing this recruitment trend, for now, can benefit a company in the short and long-term.
The Final Word
In a hiring landscape that’s moving faster than ever, it’s easy for human resources and hiring managers to feel a bit overwhelmed. No matter what hiring strategy or technology is trending, the ultimate objective remains the same – recruiters and businesses must attract the right talent in a way that enhances the candidate experience. Being aware of today’s hiring trends will help you to land and retain the best talent.
Lanmark Staffing provides over 40 years of combined human resources, recruiting, temporary placement, sales and management, and temp-to-hire services. Our local team of experienced professionals can help you understand today’s hiring trends and effectively meet your onboarding needs.