When the calendar turns from one year to the next and people ease out of the holiday period, some trends start to fade and other come into focus. You probably know this applies to fashion styles, but it also applies to talent sourcing.
In 2018, the economy is expected to continue surging and the labor market is expected to remain tight for employers. With these large-scale factors in mind, consider the following hiring trends and how to handle them.
Taking a cue from the foosball table-filled offices of Silicon Valley, many companies are increasingly listing office perks as standard benefits. In addition to office amenities, perks may include office outings, flexible schedules and longer-than-usual paid vacation time. Research shows that targeted perks can help build a sense of community and feed into the company brand, both of which help attract talent and reduce turnover.
A better experience
Companies are having a hard time finding qualified applicants right now as the job market significantly favors the job seekers. Because each qualified applicant must be treated like gold, companies will more than likely step up the experience they provide to people who apply for their open positions.
Companies looking to attract top tech talent will no doubt invest in their talent outreach and candidate experience programs as they aim to appear more attractive to prospective tech employees. Expect to see more user-friendly career sections on company websites and more company events focused on appealing to available talent.
A greater emphasis on soft skills
As technology becomes more user-friendly and with perfectly-qualified candidates getting harder to find, businesses are searching for professionals with strong soft skills, particularly those with the ability to learn new tech-based skills. For job seekers, critical thinking, problem solving and other abilities are more important than ever, as workers have to be capable of regularly collaborating with and learning from each other.
Compensating for the talent drought
Companies are expected to still have hard time filling their positions in 2018 and will have to take matter into their own hands if they want to enjoy the benefits associated with the surging economy. Some experts are projecting a rise in average pay as companies try to lure talent with bigger paychecks. Companies will also likely try to get the skill sets they need by training existing staff or hiring people who show a proclivity for picking up new skills.
The current labor market and surging economy are creating all kind of opportunities for professionals and this will drive significant labor churn in 2018. Companies should take a hard look at their retention strategies and step up efforts to boost employee’s job satisfaction, lest they become victims of this churn.
At NSC Technologies, we stay on top of the latest HR trends in order to better serve our clients. If your organization is looking to expand its labor force in 2018, please contact us today to find out how we can help.