John Arnold’s Post

We’re facing a significant challenge—hiring. We don’t have enough people, and finding new talent is getting harder. And in a few short years, it’s going to be even worse. As labor economist David Autor points out, all the people who turn 30 in the year 2053 have already been born, and we can’t create more individuals in that age group. On top of that, the workforce is graying: Some 64% of all new workers are under the age of 34, only 5% are in their fifties, and only 3% represent the baby boomer generation. LinkedIn research shows that when employees are promoted, they are 70% more likely to stay long term. The same research shows that 62% of employees who make lateral moves display high retention rates. Our data also shows that hiring externally can incur costs three to five times more than those associated with internal mobility factoring in various financial, time, and associated expenses.

Over the last 18 months, the hiring landscape has been especially dynamic. It has been influenced by technological advancements and evolving work models. As we look forward to the next 180 days, these trends are expected to further shape the job market. Recent trends have shown a tight job market, with many companies indicating a likelihood to hire despite economic uncertainties. The push towards hybrid work models has become more pronounced, reflecting a broader acceptance as the 'next normal' in workplace arrangements. This trend supports a work-life balance that is highly valued by today’s workforce. Furthermore, skills-based hiring is on the rise, shifting focus from traditional resumes to actual skill sets, which helps in identifying talent more effectively and inclusively. Looking ahead, we can expect these trends to persist and intensify. Companies will likely continue to adapt their hiring strategies to accommodate remote and hybrid work preferences, which have been favored by employees across various sectors. Additionally, the integration of AI in recruitment processes is set to increase, potentially reshaping job roles to emphasize more on soft skills and creativity. For businesses and professionals alike, staying adaptable and proactive in skill development will be key to navigating the upcoming changes in the job market. Understanding and leveraging these trends will be crucial for achieving success in a rapidly evolving employment landscape. -Dave

Exciting findings from "Unveiling Tech Talent Trends 2024." Key takeaways: Money Matters: Salary challenges, loyalty concerns, and shifting entry-level expectations are reshaping compensation dynamics. Industry Terrain: Remote, hybrid, or on-site? 65% prefer hybrid. Seniority paradox emerges—optimizing talent acquisition across all levels is crucial. Diversity & Inclusion: Progress but challenges persist. Blind recruitment and inclusive cultures are vital for a 25% female, 9% neurodiverse, and 44% Asian industry. The future of tech hiring is at a crossroads. Organizations prioritizing higher salaries, flexible work, talent development, and diversity will set the standard. 🚀 #TechTrends #Hiring2024 #DiversityInTech

🚀The State of Hiring…what can we expect in 2024?🚀 Our HR report in 2023 was the culmination of 30 in-depth conversations with senior talent acquisition professionals about how hiring has evolved throughout the past couple of years and the challenges faced during a shifting economy. Hiring top talent - finding, attracting, choosing & equipping the best candidates will always be competitive - and the “how to” will evolve as the market changes. The 5 challenges that were at the forefront of our conversations leading up to 2023 included: 1️⃣Finding a balance between in-office, hybrid, and remote work. 2️⃣ Compensation and salary inflation. 3️⃣ Navigating hiring in a volatile market. 4️⃣ Volume and quality of applications. 5️⃣ Keeping culture and community strong. In reviewing these past and present hiring challenges, what emerging trends do you think will impact recruitment in 2024?  What are you seeing as your day to day obstacles to hiring top talent right now? Xander Ashton Alex Fraser Kailey Ross Chris Mulhall Elise Mance Kiran V. Check out the comments below for a link to the full report 👇🏼 #jobmarket #statoday #jobsearch #humanresources #talentacquisition

What key hurdles must companies overcome when hiring top talent? Our Chief Customer Officer, Kristin Condon, recently reminded us that our 2023 State of Hiring report includes some GREAT insight into relevant challenges and trends in hiring. (That we all continue to experience in 2024.) It's a must-read 👇🏽

🌍 Global Hiring Intentions Hold Steady for Q4! As we move into the final quarter of 2024, employers are navigating economic uncertainties while maintaining a positive outlook on hiring. A recent report reveals a net employment outlook of 25%, reflecting a slight increase from Q3, though still down from last year. Now is the time for companies to focus on retaining and attracting talent with specialized skills and adaptability. With the IT sector leading the way in hiring intentions, it's clear that the demand for tech talent continues to grow amid digital transformation. Join us as we explore the latest trends in the job market and strategies for building a resilient workforce! 💼✨ #HiringTrends #JobMarket #EmployeeRetention #HiringNow https://lnkd.in/etzVWz7B

The hiring and recruitment landscape has seen significant shifts over recent years, influenced by economic pressures, changing workforce expectations, and evolving company cultures. As of June 2024, the U.S. unemployment rate stands at 4.1%, a slight increase from the previous month and higher than the 3.6% rate from a year earlier. This uptick in unemployment, coupled with the rising cost of goods, has intensified job market competition and reshaped recruitment strategies. Traditionally, companies placed heavy emphasis on hiring candidates based on skill sets and experiences. However, there's been a noticeable shift towards prioritizing cultural fit and interpersonal dynamics. Many organizations now seek individuals who align with their values and can seamlessly integrate into their teams. This shift is partly driven by the understanding that technical skills can be taught, but cultural alignment is harder to achieve. In the current climate, companies are balancing between these two approaches. While technical competence remains crucial, the ability to work well with others, exhibit resilience, and demonstrate adaptability are equally valued. The pandemic has underscored the importance of soft skills, as remote work and hybrid models demand excellent communication and self-management abilities. As we look towards 2025, the recruitment landscape is expected to continue evolving. With high unemployment rates and economic uncertainty, companies may adopt more flexible hiring practices, including part-time or project-based roles, to manage costs and adapt to fluctuating demands. Additionally, the integration of artificial intelligence and automation in the recruitment process will likely increase, helping companies to identify the best candidates more efficiently and reducing unconscious biases. The economic landscape has further complicated recruitment. The high cost of living makes it challenging for individuals to sustain single-income households, driving more people to seek employment. This surge in job seekers gives companies a larger talent pool but also increases the pressure on them to offer competitive wages and benefits to attract and retain top talent. In summary, the recruitment climate is becoming more nuanced, balancing technical skills with cultural fit, and adapting to economic pressures has been difficult terrain to navigate. Sources: - [Bureau of Labor Statistics - Employment Situation Summary](https://lnkd.in/gTcfZ2Wq) - [YCharts - US Unemployment Rate Monthly Analysis](https://lnkd.in/gCyP2x-r) - [Bureau of Labor Statistics - State Employment and Unemployment Summary](https://lnkd.in/gbPWnwZa) #HiringTrends #Recruitment2024 #JobMarket #EmploymentTrends #FutureOfWork #CulturalFit #SoftSkills #JobSearch #UnemploymentRate #EconomicOutlook #JobMarket2025 #WorkforceDevelopment #HRInsights #CareerGrowth

🌍 Global Hiring Intentions Hold Steady for Q4! As we move into the final quarter of 2024, employers are navigating economic uncertainties while maintaining a positive outlook on hiring. A recent report reveals a net employment outlook of 25%, reflecting a slight increase from Q3, though still down from last year. Now is the time for companies to focus on retaining and attracting talent with specialized skills and adaptability. With the IT sector leading the way in hiring intentions, it's clear that the demand for tech talent continues to grow amid digital transformation. Join us as we explore the latest trends in the job market and strategies for building a resilient workforce! 💼✨ #HiringTrends #JobMarket #EmployeeRetention #HiringNow https://lnkd.in/etzVWz7B

Flexibility and career advancement are no longer just nice-to-haves—they’re essential criteria for professionals choosing their next roles. As highlighted by Indeed in this insightful article, the priorities of today’s workforce are evolving rapidly, with candidates increasingly valuing workplaces that support their personal and professional growth. At PeopleLogic, we’ve been at the forefront of these shifts, helping organizations align their talent strategies with what matters most to top talent. From embracing flexible work models to fostering growth-oriented environments, we work closely with our clients to create opportunities that attract and retain the best in the business. Dive into the full article to explore how these trends are reshaping the job market and discover how PeopleLogic continues to help businesses adapt and thrive. 🌟 Read the article here! https://lnkd.in/gkSTriCm Brinda Sarkar The Economic Times #contractstaffing #humanresources #recruitment #hiring #hr #careers #jobs

It looks like the “Big Stay” might be here to stay! A recent report has found that more workers are planning to stay in their jobs this year. Take a look at the article below to learn what’s driving these choices and what’s next for today’s workforce. https://loom.ly/5Jh9Qtw How has your company revamped your strategy around retention lately? #recruitment #retention #recruiters #hiring #construction #trends #market