12/16/2015
3 Workforce and Hiring Trends in 2016
Published:
Friday, November 27, 2015
Author:
Angela Yee
As 2015 comes to an end, organizations are forecasting what’s in store for 2016. These plans include budgeting, recruitment, new opportunities and close analysis of the corporate infrastructure. Organizations will reap the benefits of the new trends in 2016 after understanding these three tips!
The War for Talent Increases
Companies are hiring in large quantities and at rapid paces. In July 2015, the U.S Bureau of Labor reported 5.8 million job openings in the United States. It is also forecasted that in 2016 and beyond, employees will control the job market, not the employers. This means that employees who are semi-content with current job conditions are beginning to go on job interviews, receive offers, and ask for sizeable counter offers from current employers. This is part of what iCIMS refers to as the new era in talent acquisition. Organizations can maintain control and win the war for talent by providing employee incentives, work/life balance initiatives and a corporate culture that is second-to-none.
Younger Workers are Entering the Workforce
Recruiting and training Millennials and Generation X employees will be a top priority for many companies in 2016. To date, Millennials account for 35 percent of the workforce and are expected to be 46 percent of the working population by 2020. They are saturating the workplace with innovation and influence and are eager to become leaders within their organizations. In fact, Millennials already account for one in every four managers at companies. They offer a fresh perspective regarding innovation and expertise in social media platforms that baby boomers, and some senior managers, are unfamiliar with.
Younger workers are on board with the evolving workplace. According to a recent study featured in Forbes, 88 percent of the Millennial and Generation X respondents prefer a collaborative work-culture rather than a competitive one. Additionally, 79 percent want a boss that will serve them more as a coach and a mentor. These employees are more interested in thriving at a job they enjoy then settling in a position just for the paycheck. Millennials are also demanding more of a flexible work schedule, forcing all employees to veer away from the traditional 9-to-5 workday. Furthermore, Baby Boomers are working longer as Millennials and Generation X are entering earlier, making it necessary for effective integration among these generations within the workplace for increased productivity and overall employee satisfaction. A workplace made of several generations allows for collaboration and transfer of knowledge between generations so that critical knowledge is not lost as the older workers begin to exit the workforce.
The Workplace Will Evolve
The workplace dynamic is changing drastically. For example, more than ever before, companies are downsizing in real-estate space and hiring more remote employees. Office spaces are veering away from the traditional layout of having rows of cubicles and moving toward a more open workspace to facilitate the collaboration of cross-functional teams. These changes can help provide employees with a more flexible work schedule, and lower space and related expenses for companies.
Additionally, advancements in workplace technology are also a constant, including but not limited to: lighting adjustments, video conferencing solutions, and digital white-boards that can be connected to mobile devices. Advancing the tools accessible to employees in the office will increase overall employee productivity and convenience. Leveraging video within the workplace allows for communication without barriers. Meetings in the workplace will soon begin to take place using collaboration services. Technology continues to enable new ways to communicate – visual communication is predicted to be a major catalyst in the upcoming years, changing the way we interact. These upgrades, in addition to the strong desire for collaboration, will give the workplace a new definition.
In 2016, employers will see many changes take place in the ever-evolving workplace. To stay ahead of the revolution, companies must attract and retain the best talent, especially the younger generations entering the space. Leverage your organization’s employment brand to create a culture of collaboration that attracts potential candidates and retains current employees. Corporations are realizing how important it is to sustain a positive employment brand. According to a recent survey, 72 percent of respondents said that their company is increasingly focusing on promoting their employment brand, and 68 percent feel pressure to ensure their brand is competitive. The landscape is becoming even more competitive. Is your organization doing what’s needed to stay ahead? How does your employment brand represent your company? For more tips and tricks on hiring trends for 2016, view our 16 Recruitment Tips for 2016 eBook.
