An analysis of the recruitment market for 2020 has revealed the major factors that will impact skills and hiring patterns over the next year.
Guidant Global’s findings show that the major factors that will make a difference to the recruitment market include the rise of millennials and Gen Z workers, the increase in remote working and permanent flexibility, and the ability to harness tech strategy.
Millennials and Gen Z are responsible for a third of the workforce – something that will increase to the majority of the UK’s workforce as the decade progresses.
Given that these groups are, generally speaking, digital-savvy, and place value on flexibility, businesses have a responsibility to foster cultures that meet the needs of this workforce, if the best talent is to be attracted and turnover is to be driven down.
In terms of remote work and permanent flexibility, research from Global Workplace Analytics has found that, since 2005, there has been a 140% increase in people working from home – a figure that is set to rise throughout the decade.
There are organisations who have taken this on board, with 16% now hiring remote workers exclusively; predictions meanwhile show that by 2028, 73% of all new companies will hire remote workers.
For the recruitment market therefore, flexibility will become the new normal.
Harnessing technology in the correct way is imperative in the future, if businesses are to hire and retain talent in 2020 and beyond.
Simon Blockley, CEO at Guidant Global, said: “As we hurl headlong into a new decade, the intertwining forces of technology, economics, politics and shifting demographics will usher in a host of new opportunities and challenges for businesses to grasp.
“More than ever, firms must adapt and remain agile to attract talent in uncertain markets.
“With tech expanding at a rate that feels almost impossible to keep up with, HR and talent acquisition professionals need to harness the latest technologies and anticipate the next major talent and HR trends lurking around the corner.”