Some surprises in the talent world these days. Employers are casting wider nets to keep up with increasingly competitive talent demand and rethinking traditional guidelines, even rules. SHRM has posted articles describing these burgeoning workforce trends:
- Loosening requirements for college degrees – greater focus on training, skill sets, and personality traits
- More willingness to hire job-hoppers – this appears to be more common among GenZ and Millennials
- Increase in annual pay raise percentages – now averaging a budget of around 4.4%
- Increased interest in fractional C-Suite roles – I’ve personally come across two in our industry in the past month.
We’ve come a long way from the mandatory 9-5, 40-hour workweek with lifetime employment and pensions! These developments may be due to the shifts in talent and labor supply and demand. They may also reflect generational shifts, Covid-related changes in priorities and lifestyle, recent hikes in inflation and interest rates, etc. Perhaps the pendulum will swing back, but these are at least current trends.
While our industry continues to hold closer to tradition, we can see and feel these trends creeping into our hiring practices. How can we take advantage of these trends?