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The Scoop: Recruitment Trends & Industry Insights | October 2021

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Here is your October guide to the latest trends impacting the world of work. Every month, we provide perspective on the biggest news affecting the industry and explain what to expect as new trends continue to emerge.

IS THE ‘GREAT RESIGNATION’ ABOUT TO BECOME THE ‘GREAT BOOMERANG’?

Experts believe the recruitment market will be overrun with ‘boomerang employees’ once the great resignation is over. This, in part, is due to today’s talent wanting to try new things and diversify their skills and experience, but then realising ‘the grass isn’t always greener.’ This is often because there’s a mismatch in culture and/or the job not meeting expectations.

“The job I left for didn’t meet my expectations and culturally it wasn’t the right fit. That was only something I figured out by experiencing the new role first-hand.” 

Career Management Specialist, Husnara Begum on her own boomerang experience, as covered by Wired UK.

How will employers need to adapt?

If there is going to be a ‘Great Boomerang,’ employers will need to stay connected to alumni, keep them warm and make them feel like they’re welcome back.

To retain talent, employers will need to provide job variety and career progression, which may mean facilitating and encouraging employees to apply for jobs within the organization.

What role will flexible working play?

With more countries reportedly adopting a ‘Scandinavian-style’ four-day working week, coupled with remote working barriers being reduced, employers who don’t adapt to flexible working could find it even more difficult to retain, attract and re-hire ex-employees. The key might be in how adaptable employers are willing to be at an individualistic level. The new hybrid working model will take some refinement, but a blanket approach applied to all employees might not be the way to go. And being clear on the employer’s definitions of terms like ‘remote,’ ‘flexible’ and ‘hybrid’ in job ads is critical to managing candidates’ expectations. 

Read more: https://www.wired.co.uk/article/era-boomerang-employees [Wired UK]

GREATER TRANSPARENCY INTO EMPLOYERS AND THEIR JOBS ISN’T JUST A TREND. IT MIGHT SOON BECOME LAW.

Greater employer transparency has been an upward trend for the last decade, with the rise of employer review sites and the democratization of employee storytelling.

But there are still challenges candidates face with job ads, such as knowing whether they’ll be a good fit for the role and knowing what the remuneration package is.

Choosing a new job at a new employer is one of the most stressful decisions people make, alongside buying a new home (and moving), getting married, and choosing to start a family. It’s probably more important than all of those since the job you do directly influences all those other decisions. Yet it usually comes with the least decision-making insight.

Many employers that hire for annual salaried roles refrain from stating the remuneration in job ads for a variety of reasons. But the tide might be turning, owing to a global movement to make salary transparency the law.

“Companies who are forthcoming about their wages can attract better, more diverse talent, making salary transparency an actionable way of creating a more equitable workplace.”

Source: https://www.bbc.com/worklife/article/20210921-why-companies-dont-post-salaries-in-job-adverts

According to PayScale, only 12.6% of global companies published the pay range in 2020. In Latvia, it is the law to publish salaries on job ads. In the US, Colorado is the state leading the way, mandating wages be published on job listings. Other states are starting to follow suit.

Advertising the pay band / salary doesn’t just help with recruitment efficacy. It also conveys trust and fairness – both important considerations for today’s job seeker.

Read more: https://www.bbc.com/worklife/article/20210921-why-companies-dont-post-salaries-in-job-adverts [BBC.com]

MUM’S THE WORD FOR BETTER EMPLOYER CONTENT DISCOVERY.

Google has released a host of search updates in the last few months that could impact future candidate employer research.

Earlier this year, Google announced it will be applying AI advancements, including a new technology called Multitask Unified Model (MUM), to improve Google Search and the answers it provides to users, pulled together from a range of sources and content formats.  

According to Google, on average a user will conduct eight searches for complex queries such as “I’ve hiked Mt. Adams and now want to hike Mt. Fuji next fall; what should I do differently to prepare?”

The above search query could easily be “How should I prepare for my interview with [employer]?”, or “What is the recruitment process with [employer]?” This could see content being pulled into Google’s new ‘Things to know’ section within the search results, which could be sourced from the employer’s careers site, third party review sites and more.

Image source: Google (via TechCrunch)

Read more: https://techcrunch.com/2021/09/29/google-is-redesigning-search-using-a-i-technologies-and-new-features [TechCrunch]

ROUNDING OUT THE SCOOP: PSYCH, SOCIAL, LABOR AND TECH.

  • Glassdoor’s acquisition of Fishbowl is not only one of the latest examples of job marketplaces and niche professional networks dominating the HR tech funding and M&A space, but also an example showing the importance of greater transparency in candidates’ employer research. Expect to see persistent funding activity in this space as the global labor market continues to see supply and demand challenges for skilled labor (e.g., digital, tech, sales) and those in high stress / high challenge roles (e.g., HGV drivers, care workers). Greater transparency is one aspect that will help employers close the ‘mismatch gap’ and ensure they’re hiring the right talent the first time.
  • Amazon is the latest employer to offer education and skills training to its employees by providing free college education with classes, books and additional fees covered. Employers need to consider what their learning and development offer is to retain talent, but also to help close the skills gap within their existing workforce, especially as some industries are pivoting. Take the automotive sector, for example. Reuters reports that the shift to electric vehicles in Europe will mean “jobs at manufacturers and traditional suppliers focused on combustion engines will drop 20% and 42% respectively – between them shedding a cumulative 500,000 positions. At the same time, employment at suppliers focused on zero-emission technology will rise by 300,000 workers, representing a 10% increase.” Learning and upskilling are not only a core part of the employment offer but are also critical to ensuring organizations have a future-ready workforce.

About Nathan Perrott

As VP, Innovation at Radancy, Nathan is responsible for observing emerging trends in technology and the future of work to drive product and strategy innovation, bringing the value of Radancy Labs' work to our clients and colleagues.

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