Technological advancements constantly drive trends in the world around us, from how we shop, bank, connect with others and much more. With it, the modern workplace evolves and how we hire and retain talent is facing a new era of changes. As the new year approaches, we’re looking at the trends predicted to define the modern workforce to help you finetune your workplace strategies and tailor it to meet the needs of top talent.
90% of recruiters continue to feel the labour market is candidate driven, a percentage that has remained steady since 2015. As a result, companies are putting a lot more emphasis on not only their talent attracting strategies, but in how their workforce operates to retain the very best. To get the best out of employees, you must understand what motivates them, and that’s why the trends we’re seeing in 2020 are employee centric.
Advances in technology have given rise to online talent markets for freelance workers. This offers the employee unparalleled flexibility, choosing their own hours and location, often without compromising on financial security. It’s predicted that global online marketplaces could be worth £43 billion by 2020. Freelancing is no longer only associated with creative work, with nearly every sector quickly adapting, and this means that for employers to find the top talent, they need to embrace this economy.
The traditional 9-5 is rapidly being booted out, as disruptive forces of technology continue to make it easier to work anywhere and anytime. 71% of workers say rigid work schedules impact their personal life negatively, whilst more flexible working schedules and practices have been associated with increased productivity, enhanced work-life balance and reduction in employee stress levels. Parents can now balance professional lives with their parental duties, and 90% of remote workers say they plan to work this way for the rest of their careers. It’s no surprise employees are implementing flexibility into their workplace as a perk to attract the best and brightest talent.
It’s not news that artificial intelligence (AI) and automation has already facilitated massive change in the workplace, but there will be less fear of robots taking our jobs, as we acknowledge the benefits outweigh this. As documented by Harvard University, it’s evident that automation does not translate to higher unemployment rates. By handling mundane and repetitive tasks, it frees up time for humans to focus on more emotive, complex and creative tasks. It’s predicted that by 2025 nearly 1 billion users will rely on AI-powered virtual assistants. In recruitment, AI is quickly killing off traditional methods, by being able to very quickly and effectively match talent to the right jobs, saving their clients time and money.
It’s evident these trends are being enabled by technology but are driven by the changing attitudes of the workforce. However, it is also offering a better scenario to the employers with positive impacts to their bottom line. It’s making much more sense in this modern workplace for employers to have a skeleton crew of staff and top-up with talent just when they need to, servicing peaks in demand. This is becoming commonplace in a range of industries now as they look to reduce their internal payroll. Traditional temporary agencies were time consuming and costly, but technology is driving this efficiency, best of all, it mutually puts the power into both the employer and the employees’ hands at the same time.