Jan. 28, 2021

Survey Reveals Optimism for 2021 Hiring

The long-term impact of the coronavirus pandemic on hiring and career development is just coming to the surface and will affect the way employers hire and train candidates for the near future according to the results from the annual Future of Work global survey conducted by Monster. Yet despite the volatility caused by the pandemic, recruiters and talent acquisition professionals are feeling optimistic about 2021. Eighty-two percent of global employers plan to hire in 2021. More specifically, 47 percent plan to replace or backfill open positions, and 35 percent even expect to expand their company's workforce by hiring for new jobs. Those numbers shift to 42 percent and 40 percent, respectively, in the U.S.

According to Scott Gutz, CEO of Monster, candidates and recruiters alike can and should begin the new year with a brighter outlook and plans for the coming months. "The results revealed that recruiters and HR professionals are taking an optimistic approach to the new year," said Gutz. “But there are lessons to be learned from the dramatic shift in the ‘new normal’ and the impact that it has had on the way candidates and employers find the right fit."

Skills gap. According to the survey, the hiring outlook is up, but varies by industry and is affected by continued demand for reskilling.

Although 93 percent of employers are confident in finding the right candidates, 40 percent of respondents expect to continue facing the skills gap, with one third of employers agreeing the skills gap has increased compared to one year ago.
Tech-industry recruitment leads with 49 percent of respondents planning to hire net new jobs, whereas health care and finance/banking are expected to replace jobs lost due to the pandemic (59 percent and 53 percent, respectively). Nearly one third (32 percent) of recruiters for leisure/hospitality are expecting continued hiring freezes.

Virtual recruiting. Virtual recruiting is on the rise, but it is putting fit at risk.

Although the U.S. is leading the charge at adapting to virtual practices, with 70 percent of U.S. recruiters using virtual technology for at least half of their candidate interviewing and new-hire onboarding, more than a quarter (26 percent) of global respondents still struggle to master virtual recruiting.
Candidates are struggling to assess company culture and job fit through virtual hiring: Three in four candidates (75 percent) agree that "virtual hiring makes it difficult to really assess how a company's values and culture align with my own."
Leisure/hospitality, transportation/logistics, and retail lag behind other sectors in adapting to virtual hiring: an average of 18 percent of recruiters in those industries do not do any virtual hiring.

Employers must adjust. According to survey results, employers need to adjust to meet the demands of today's candidates.

HR professionals adapted to the new way of working and hiring during the COVID-19 pandemic, with many of them making changes to flexible work schedules (42 percent), remote work flexibility (41 percent), and updated health policies and protocols (40 percent). However, the industry will need to adapt to the demands of today's candidates.
Workers are struggling with job-related anxiety (32 percent), headaches from too much screen time (16 percent), and depression (14 percent). Women around the world are feeling this more strongly than men, with 36 percent of women experiencing job-related anxiety and 13 percent experiencing loneliness.
Despite a stronger emphasis on diversity, equity, and inclusion in the workplace, globally 56 percent of survey respondents have not, nor are they planning to update their DEI strategies. This is in stark contrast to candidates' desire for employers to offer diversity training (35 percent), build a diverse workforce (34 percent), create elements of an inclusive work environment and workspace (29 percent), and encourage employee resource groups (20 percent).

Source: Monster.

Tags: Employers' Blog Posts