Why Hiring Is About To Get Really Difficult

Isaac Agumba | 26th March 2021

Job Search
Why Hiring Is About To Get Really Difficult

Why Hiring Is About To Get Really Difficult

Isaac Agumba | 26th March 2021

Job Search

Hiring is hard, and it’s about to get much harder!

That isn’t good news for any of us in HR and Talent Acquisition practition. There are two forces that are currently happening that are making hiring more difficult than it has been:

  • Solid economy and job growth.
  • Baby Boomers(the generation preceding generation X and the silent generation) leaving the workforce.

This isn’t earth shattering information, we all knew this was happening.  The issue is we are just beginning to feel this in every part of the country and in almost every job category.  This means some things are going to happen:

  1. Wage Growth: The following data shows organizations experience a wage growth of around 5%, and this is expected to increase in years to come.

Industry

% Change in Earnings (2015-2020)

2020 Average Earnings

% Change in Jobs (2015-2020)

2020 Jobs

Scheduled Air Transportation

16.7%

$75,284

1%

409,901

Scientific Research and Development

9.6%

$117,196

5%

652,877

Pharmaceutical and Medicine Manufacturing

7.8%

$119,522

2%

283,263

Semiconductor and Other Electronic Component Manufacturing

6.6%

$96,606

0%

369,730

Data Processing, Hosting and Related Services

6.0%

$91,852

20%

290,524

Support Activities for Mining

5.3%

$87,878

52%

441,269

Management of Companies and Enterprises

4.6%

$111,951

18%

2,183,267

Insurance Carriers

3.4%

$84,879

4%

1,296,480

Software Publishers

2.9%

$139,291

23%

318,580

 

Most organizations are however not budgeting for this, making hiring about to get really difficult.

 

  1. Recruitment Process Challenges: How many steps does it take to apply for a job in your organization?  If it’s a long and tedious process, then that is a problem.  Can someone apply for a job online with your organization? Do you use recruitment agencies and HR consultancies? If not, then you and your organization are in for a rude shock.

 

  1. Technology Challenges: Do you have a way to reengage candidates in your system on a regular basis?  A system that allows you to let great talent know, that you already have in your system, when you have an opening that fits them?

 

 

  1. Job Design Challenges: Jobs are becoming dynamic. Technology has enabled jobs to be restructured, such that you do not have to have employees in the office from 8am – 5pm everyday from Monday to Friday. Today’s jobseekers are increasingly looking for remote work, and employers need to embrace this.

Organizations that can recruit and get talent through more advanced platforms like recruitment agencies and technology platforms are bound to succeed.  It’s that simple.  Talent acquisition and assessment through technology will be a powerful strategic tool for organizations over the next decade like never before.

The good news is that access to information just got easier! Years ago, doing great talent acquisition was mostly trying stuff and getting lucky.  In today’s world and job market, one can learn easily how the best organizations are attracting talent at HR conferences, on websites, in blogs, webinars, etc. Employers and HR practitioners can be prepared for challenges they face in hiring easily.

 



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