Shaping the Future of Business

It is important to find and retain the right talent in company establishment to stay on top of the competition in today’s market. But doing this effectively is still a challenge. Emerging employment trends and trends identified over the past few years can help to adopt new ways of thinking about the workforce and evaluate the recruitment process. Keeping up to date with employment trends allows to do this effectively.

Employment Trends Shaping the Future of Jobs

There are recruitment trends that affect businesses every year and require consideration to make the work easier. These trends are as follows:

Acquire soft skills

According to a study of global trends conducted, 92% of human resources professionals and recruitment managers surveyed now focus on soft skills as they are more important than hard skills. 80% reported that soft skills were important to help business grow, while 89% reported that the lack of soft skills was a disappointment in poor recruitment.

While soft skills such as empathy, emotional intelligence, creativity, communication skills etc. are incomparable to some extent, they provide the ability to leverage their unique human abilities. The only downside to this is that soft skills cannot be measured with a resume or an interview. 68% of the respondents evaluated their soft skills with social cues received during an interview. Increased use of AI could also help assess soft skills in candidates in the future.

Working flexibility

Not so long ago, being able to work from home was both difficult and rare in circumstances. However, time changes day by day and job flexibility is becoming the norm. According to a survey, 31% of employees preferred flexible working arrangements in 2017, compared to only 25% of employees in 2013.

Technology is partially responsible for this change in operating flexibility. It allows employees to keep in touch with their colleagues in case of business emergencies such as e-mails, conference calls, instant messaging etc. Therefore, since 2016, it has increased by 78%, which also provides job flexibility. Employees also need a better balance between work and personal life, and job flexibility allows them to do this. In addition, flexibility allows organizations to achieve cost savings in locations.

Recruitment diversity

Diversity in recruitment has always been a trend and is by no means new. In fact, 78% of businesses believe they already have a different workforce, and this trend in employment never slows down. In 2018, Amazon developed an AI rental tool that backfired when it started discriminating against women. When an attempt was made to identify the best talents, AI became more biased and useless than any reasonable person.

Workplace diversity is a value for both businesses and their employees. In the era of globalization shaped by 2019, diversity is more than just gender, racial or ethnic origin. It is also concerned with educational backgrounds, religious and political beliefs, sexual orientations, cultures and even people with disabilities. According to a new study by Harvey Nash, organizations have increased gender diversity by 60%, ethnicity and cultural inclusiveness by 41%. It has been shown that multi-faceted inclusiveness in the workplace can lead to better productivity and help generate higher profits.

Blindly hire

Prejudice in the workforce can lead to a few controversies. In a standard job interview, unconscious bias can leak by giving information such as gender, age, race, and even pickup material. To avoid this, the first wave of the interview can be done without these bits of information, simply sticking to the abilities and achievements of the candidates. This allows for a diverse workforce that can be built on merit. Pre-recruitment tests, anonymously written aptitude tests, telephone calls or interviews via chatbots can help eliminate any prejudice, whether conscious or unconscious, and allow blind recruitment.

Predictive analytics

Analytics has the power to transform the HR function from recruitment and workforce planning to performance management and employee engagement. Predictive analysis is increasingly used to refocus labor planning lenses from qualitative to quantitative. This allows them to understand how valuable each employee is to the organization.

Predictive analytics enable the employer to view employees as a valuable asset to the organization. Also, it is possible to see which employee or department is underperforming. And it allows to understand what areas can be improved for the growth of the company by providing training to increase productivity or by moving employees to different departments. Collecting performance data and matching it with evaluation creates a feedback loop that allows employees to continually update their profile.

Data privacy

After multiple data breaches in restaurants, shops, streaming services and all other industries, data privacy has been a major issue. While some countries have published stricter data privacy regulations, efforts are made to secure data in all industries. Even big names like Facebook are under fire for their data privacy issues. This shows that despite all the advances the technology has made in the past, the data is still at risk.

Salary transparency

In a survey conducted in the labor market, 93,000 people were asked whether their salaries were sufficient or not. Many of the respondents report low wages and financial difficulties. This problem is often caused by employees not knowing how much their colleagues are paid, and this can cause trust issues in the workplace.

The purpose of pay transparency is to ensure that every employee is paid fairly for the work they do. Pay transparency enables companies to tackle inequalities such as gender pay gaps. It also helps build trust in the workplace and supports the efforts of a diverse and inclusive workforce.

Business competition

The job market is not only highly competitive for job seekers, but also competitive for organizations and recruiters. Companies have to do more to make their job offers attractive to their employees. Job interview is about finding the best candidate for the company, as well as finding the right company that appeals to job seekers with workplace culture, wages and opportunity.

Employees want to be successful, happy in their workplaces and earn money by coming to better places as a career. Flexibility, holidays and bonuses are a great way to make business more attractive. Job seekers research an organization’s reputation before applying for a job, and employer branding is one of the most important factors here.

Changes in workplace cultures

In a world of rapid change, it is important to embrace transformation and have an open mind about today’s latest trends. Employers’ new approaches to work and lead to better levels of innovation and productivity among employees. Enabling people to work in a collaborative and supportive environment where they can solve problems together and produce creative and effective solutions to business lines is key to maintaining top talent in the workforce.

As a result, many changes continue to occur in employment trends for both companies and candidates. The way job seeking means companies must adapt to changing technologies and cultures and meet the expectations of the next generation of job seekers. However, employment trends are constantly changing and it is not possible to apply each trend to the way the organization operates. However, if we recognize and focus on areas that need improvement, it will be easier to keep up with changing trends in employment.