As recently as November 2017, the unemployment rate in the United States dropped to 4.1%, the lowest it has been since 2000. Also, job vacancies topped over 6 million during the summer of 2017 and still remain very close to the 6 million number as of October 2017.
These statistics mean that it’s a good time be looking for work, no matter what industry you are in. However, there are definitely some trends to keep an eye out for as we head into the New Year.
Which trends specifically? Read on to discover three hiring trends you should be looking out for in 2018.
Continued Increase in Hiring Volume
In recent years, recruiting teams’ hiring volume has steadily increased. That trend looks to continue on in a big way in 2018.
61% of recruiters expect to hire more people in 2018 than they did in 2017.
Meanwhile 29% of recruiters believe their hiring numbers will stay the same during the upcoming year, and a mere 10% plan on reducing the amount of people they hire.
Emphasis On Entry-Level Hiring
With this increase in hiring, another big question emerges: what positions are employers looking to fill? When it comes to 2018, it appears to be entry-level positions.
This desire to hire more entry-level employees should cause companies to increase minimum wage, such as major retailers like Walmart and Target have already done, or offer other attractive incentives to potential recruits.
Additionally, businesses are expected to hire more truly non-experienced, entry-level workers instead of candidates with one or more years of experience. That means that the hiring pool for these positions will be much wider, and the competition for them could be more intense.
Businesses Will Treat Candidates Like Consumers
Businesses are beginning to realize that the candidate experience is almost as important as consumer experience. Today’s current job market is viewed as a slow, cold, and uncompassionate process. Recruiters will be looking to change that image in 2018.
Look for businesses to be more mindful of human connection and interaction within the recruitment process.
When actual, living, breathing people aren’t available to help candidates, businesses will turn to technological tools, such as recruitment chatbots, for assistance. These bots can use AI to evaluate and respond to candidates’ messages in a timelier manner and can even help them schedule and prep for interviews.
Whether it’s a person or a bot helping, though, the most important thing is that companies are being both quick and communicative. They need to give candidates access to the information that they want in a faster, easier way, making the hiring process feel like a less despondent ordeal.
The lower unemployment rate and steady number of job vacancies has made the current job market quite the completive place, whether you’re a recruiter or a candidate.
Therefore, it is important to keep these three trends in mind as we head into 2018 to help give you an edge as you look to hire new employees or obtain employment at a new company.
Are there any other questions about upcoming hiring trends that you want addressed? Any worries or concerns about the hiring process? If so, contact us so we can help!