As young people of the Millennial and Gen-Z age groups enter the workforce en masse in a post-pandemic environment, several lasting trends have emerged.
More important than money alone is how people work—in remote or hybrid environments or switching to four-day workweeks.
Employees now show a growing concern about their job’s purpose and what they are working toward, such as the company’s values and mission.
In increasing demand are soft skills such as making connections and communicating.
Advanced hiring technology shapes the hiring process in ways that assist employers in their dogged quest for efficiency while offering attractive and convenient ways for job hunters to navigate opportunities.
Remote Work, Flexibility & Hybrid Working
As the COVID-19 pandemic’s sweeping effects subside, the work structures it created remain popular with employees. Forbes Magazine reports that 25 percent of the workforce was remote as late as 2022. This trend is expected to continue into 2023 and possibly beyond. Four-day work weeks and alternating days at home vs. in the office are among the flexible arrangements gaining currency.
While a recent study found that 72% of employers view remote work negatively, other studies suggest that some employers have seen increased productivity in remote environments.
Job Hopping & Retention
Pew Research revealed that 30% of employees changed jobs in 2022, half for better-paying opportunities. Employers who ignore such numbers may do so at their own peril.
In many cases, competitive compensation packages aren’t enough anymore. In addition to better pay and more flexibility, employers are expected to offer professional development opportunities and positive work cultures as employees seek forms of value outside of traditional compensation.
Company Mission & Values
Like employees’ desires for non-traditional compensation and environments, they also increasingly want to know that they are working for something more substantial than the company’s bottom line.
LinkedIn survey numbers show that 80% of Gen-Z respondents want to work for a company that shares their values. For Millennials, that number drops to 59%, and fewer than half of Baby Boomers shared similar concerns. The trend is rising with younger generations poised to begin their working years.
Soft Skills & Making Connections
A 2023 Boston Consulting Group study shows that talent requirements are in constant flux and show no signs of stabilizing. Over one-third of the top 20 job skills in the average job posting have changed since 2016.
The types of skills most in demand today include:
- Communication
- Customer Service
- Leadership
- Attention to Detail
- Collaboration
Advanced Hiring Technology Shapes Employment Landscape
As employers increase their ability to consider large numbers of candidates for each position filled, they continue to seek tools to streamline their processes and zero in on the most appropriate candidates. Employers rely on:
- 39% more on video interview software.
- 25% more on pre-employment evaluation tools to assess technical and soft skills.
- 44% more on analytics tools.
And, it seems, candidates approve of the use of artificial intelligence in the hiring process. A recent report from Deloitte (2020) found that 63% of job seekers believed chatbots improved the experience. Of those who approved of chatbot use, 80% rated their experience as “good or very good.”
Changes in Job Hunting and Recruiting Show No Signs of Slowing
The cultural evolution of the youngest segment of working-age adults promises the biggest change in workplace environment in decades. Job skills are changing at a rapid pace. And both employers and those who work for them will likely continue to embrace the convenience of emerging technology in the hiring process.
Changes have come on fast, and the forecast is for more of the same. The most adaptable employers will likely weather the changes with more favorable outcomes.
