Talent Acquisition and HR teams are faced with numerous challenges. Planning agility and workforce insight are more important than ever to business performance. With planning, so many moving pieces and unanticipated changes must still be addressed as a business grows. Toward that end, here are five significant changes that will affect hiring, HR strategy, and workforce development into the next decade.
1. New interest in boomerang candidates
The trend of employees returning to former employers is growing. As recruiters tap into this resource, they’re discovering the many benefits of rehiring former employees. For example, boomerangs are familiar with the company culture and infrastructure, reducing both the time to hire and training period. Expect to see more companies hosting alumni events to re-establish rapport with former employees, and build a pipeline of potential rehires.
2. Rearrangement of offices to attract top talent
Look for office space to shrink as workers strive to find an ideal work-life equilibrium. Forecasts predict the average office space per employee will drop to 150 square feet by 2020. With many employees working remotely, employers must leverage technology to shrink logistical costs. Despite this trend, employers must spend more to offer convenience-sensitive employees a more hassle-free workplace.
3. Companies to automate jobs, upgrade offices – at employees’ expense
Automation will be a major force in 2017. With the rising cost of healthcare, desire to deflate expenses, and the need for modern offices- employers must enforce computerization.Today, every sector is under pressure to automate. However, employees should not panic, as automation can not only take away jobs, but also create them.
4. Expanded freelance market and growth of part-time jobs
Millennials have been striving for more control over their work lives. Employees need more flexibility and they’re levering technology in order to do so, as 2016 saw Millennials turning away from full-time work, opting instead to work part-time or independently. The 21st-century graduate will look to be his own boss – next year, more than ever, and is set to play host to this shift. To meet this trend, companies must accommodate the needs of this arriving generation of professionals.
5. Companies will offer more benefits and perks
Salary increases are projected to rise by 2.9%. If you’re planning on keeping your current job, chances are your raise will be insignificant. Job seekers are pursuing external opportunities to boost their earning power. In light of the talent shortage, employers are in need of quality candidates. Candidates will leverage this in negotiating for benefits and will see more offers with increased benefits as employers seek to remain competitive.
[…] Economists are predicting a mild cyclical rebound for the U.S. economy in the coming year with jobs continuing to increase and unemployment remaining below five percent. Combine that with a 3.8 percent increase in consumer spending over the past year as well as 3.6 percent increase in net wages and you have a strong argument for a continued, steady increase in contract and temporary hiring in 2017. […]