Hiring Trends in 2018
With the unemployment rate looming a little above four percent as of this past October, the national economy, including both staffing and IT, is booming and moving faster than ever. Now that 2018 has arrived, most businesses are thriving economically and that is a great sign for what is to come in the IT community during this upcoming year. Several major trends are on track to take root in 2018 within the staffing industry and we want YOU to be the first to know about them.
Here are the top 5 most anticipated Staffing Industry Trends for 2018:
- More and more emphasis is being placed on workplace flexibility.
As the digital age continues to evolve, candidates can access Wi-Fi from nearly anywhere on the planet. From your local coffee shop, to your gym, to even your dog’s veterinary office, Wi-Fi is extremely accessible and available at our fingertips almost anywhere that we go. As expected, that has led to the rise in the need for workplace flexibility in offices across the country. According to a 2015 survey from FlexJobs, 85 percent of Millennials would prefer the option of telecommuting time, while 54 percent would rather have a flexible schedule. In a response to the mad rush for workplace flexibility, many startups have developed new hiring processes that draw remote-workers to their companies, and this trend will continue to grow exponentially in 2018.
- Soft skills are now non-negotiables.
The true value of soft skills within a workplace setting has been undervalued in the past, but that is not the case anymore. As technology is on the rise, so is the need for extreme levels of collaboration in the workplace, which is where soft skills become a priority. Many employers think that technical skills get a candidate through the door, but a candidate’s ability to exhibit their soft skills is often what gets them hired. Soft skills may include a candidate’s willingness to communicate openly with others, their ability to make sound decisions, and a high level of adaptability in the ever-changing world of IT. In addition, many employers know how difficult soft skills are to obtain. Anyone can sit in a one-day training to gain a new technical skill, but an employee’s ability to communicate effectively, show perseverance, and adapt well to change is what will ultimately fuel their career.
- The “gig economy” is all the rage.
From UberEats, to Lyft, to Airbnb, the gig economy surrounds us daily. By definition the “gig economy” is a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. As we accelerate into 2018, the gig economy is hotter than ever. The benefits of this position are: allowing employees to have freedom to set their own hours, the ability to have a high amount of flexibility, and allowing individuals to do what they’re passionate about, whenever they want to. With that being said, the growing gig economy leads recruiters to spend just as much time searching for independent contractors, freelancers, and consultants, as hiring full and part time employees, which makes the gig economy ultimately a negative for staffing firms. In fact, MBO Partners predicts that 60 percent of the US workforce will be part of the gig economy by 2027.
- The talent shortage still exists.
A recent CIO report has recently found that in 2018, “the talent shortage for tech workers will no longer be just an inconvenience for any employer – it will become a significant business problem.” In addition to that issue, even when companies are able to find top tech talent, it is rare that they can even afford to hire the top candidates for their positions. According to Robert Half, 44 percent of current CIOs say that they tend to miss out on top talent because the candidates are often seeking salaries that their companies simply cannot afford. As a result, companies are going to have to hire less qualified individuals to fill their positions, which leads to the immense gap in the scope of overall tech talent.
- Artificial Intelligence (AI) is becoming a crucial part of the hiring process.
As projected by IT industry experts, Human Resource departments will come close to being obsolete within the near future due to the recent implementation of AI in the hiring process. Many companies have chosen to implement AI into their hiring process, which benefits them by not only increasing diversity, but it is also very cost effective. Another benefit of using AI is that it has heavily reduced the bias that exists when selecting candidates for potential positions. AI Human Resource machines have been trained specifically focus on the sole skills of the candidates, rather than a candidate’s demographic, race, and age. The final benefit of implementing the AI technology within the recruiting process is that it greatly reduces the amount of time it takes to find candidates. The reason for this is that when AI technology is used, less time is needed to source candidates because companies can use talent mapping algorithms to pine through an immense amount of data that is gathered about potential candidates. Overall, the implementation of AI leads to more diverse, unbiased, and cost-effective candidate searches and hiring processes for companies across the globe.
Staying educated on the hiring market and the trends we are expecting to experience is a crucial factor in growing your team(s). At Agile, we stay on top of these trends daily to ensure we are maximizing our knowledge of the market, and what candidates are looking for as they venture to into new careers and companies. If you are interested in learning more about these trends, or how Agile can help you with your hiring needs in 2018, please contact us today to speak with a trusted account manager.