Top 3 hiring trends for 2020. How employers are planning to expand recruitment efforts to attract and retain the right talent in a tight labor market.
Employers are ready to pay up to combat the skills shortage in the new year.
More than 80 percent of employers are ready to offer higher salaries for sought-after candidates and give pay raises to ensure their current staff is happy, according to the third-annual hiring trends report by Hays, a global recruitment firm.
“It’s encouraging to see such employer confidence and motivation in the face of market uncertainty but they should consider that money on its own may not be the long-term solution to skill deficits and employee dissatisfaction,” said David Brown, CEO, Hays US.
Top 3 Hiring Trends for 2020
Hays drew from a national survey of more than 3,500 employers and employees across the U.S. for their latest report. Their findings identified three major hiring trends for 2020:
1. More Flexibility
Nearly 35 percent of employers offer no flexible work options, but that percentage is likely to drop in the next year. More than 50 percent of employers are working on adding the ability to work remotely. Almost 40 percent are investing in flexible work hours.
Hays notes that unlimited vacation time and free childcare are also growing in popularity, but are implemented on more of a case-by-case basis.
2. Career Development
Over 20 percent of employees are considering leaving their current role because of limited opportunities for career growth.
“It’s an incredibly competitive job market and employers have to focus on bigger picture aspects of work if they want to achieve their business goals,” added Brown. “People expect to do more than punch a clock. They’re looking for meaning, a vibrant culture and to be united with their colleagues under a shared purpose. Employers who understand this fact will be better-suited in the 2020 fight for talent while nurturing their current team.”
3. Health and Wellness Focus
Close to 60 percent of workers say they have no health and wellness activities through work. Providing healthy snacks and space where employees can rest and reset on their breaks is investing in the health and wellbeing of employees.
Employers can also remind employees when it’s time to get flu shots, when open enrollment starts, and have someone available to review healthcare benefits and out-of-pocket costs to help them better understand changes each year.
If you’re not convinced that sending a reminder can make a difference, read about how a reminder the IRS sent out to those who paid a fine for failing to have health insurance may have saved 700 lives.