Jess Gemar, Director – Recruiting & Team Development, shares five factors she’s seeing now as talent acquisition ramps up for the new year.
Human capital is as important as financial capital… you’re only as good as your weakest link… if one person fails, the whole group fails… It doesn’t take a rocket scientist to know that the most successful and top-tier firms have built cohesive teams filled with talented and innovative thinkers that are leaders in their industry. With the Bureau of Labor Statistics anticipating projected growth in rapidly expanding fields as well as those in strong recovery, the 2022 job market becomes a fast-paced and somewhat cutthroat industry all on its own. Here are 5 key factors that are set to be top influencers in this year’s job market.
1. Strong job growth continues into 2022
US economic growth continues to proliferate into the coming year. Increases to payroll have sustained acceleration through the final quarter of 2021 as pandemic effects within the workplace have continued to diminish and while Americans begin to more comfortably rejoin the workforce community. Projections from the Federal Open Market Committee support the decline in unemployment as we shift into 2022 and return to more normalized rates of unemployment.
2. Employers Focus on Employee Experience and DE&I
As employers continue to combat the seemingly struggling labor shortage, focus has shifted to added benefits for employees such as increased salaries and prioritizing internal experience. “Diversity, equity, and inclusion is going to continue to be a primary focus in 2022 for job seekers,” says global workforce expert, Dr. Shirley Davis, president and CEO of HR strategy firm SDS Global Enterprises. Adding more diversity and inclusion within strong internal company values has incentivized new hires to feel woven into their new company infrastructures. Offering these development benefits such as company outings, event participation, incentive programs, and community culture are proving to be highly desired amenities.
3. Expedited Hiring Processes
As job seekers look to vet employers in current market conditions, the demand for qualified labor has transitioned the hiring process into a very streamlined experience. Managing the expectations of recruiters, hiring personnel, and the individual candidates is imperative to securing the most talented individuals within the labor pool. Communication and an efficient hiring process is key in finding the most exceptional hires in this tight labor market. As talent looks through the competitive landscape, they are most apt to respond to those companies that are most engaging and willing to expedite the acquisition experience.
4. Demand for New Skills and Roles Shift & Expand
Core skills within individual role descriptions have shifted and expanded into a more thorough set of needs to fulfill the demand of more competent and driving roles. Growing demand for more inclusive workplace skills has transitioned focus on new key skillsets to make employees more competent and proficient in their roles. Prominent skills have developed more inclusion towards technological competency, active and on demand learning, critical thinking skills, and even more thought leading skills such as progressive thought and creative solution planning. Emotional intelligence, leadership, and social influence as well as service orientation are also set to see a particular increase in demand relative to their current prominence today according to the World Economic Forum.
5. Internship Experience Designates Leaders in Potential Candidates
The new and most influential factor that hiring companies are considering when differentiating between equally skilled candidates is the experience within a potential candidate’s time in internship. Internal internships lead to larger scaled advantages for the transition to full time employee status, but strong internships within their specified industry fields is also a considerable factor in successfully landing appropriate roles. The National Association of Colleges and Employers also considers a GPA of 3.0 or above, a student’s major, their extracurricular activities, and whether they have held a leadership role or had general work experience as prime influences within recruiter’s search qualifications as well.
Jess Gemar
Jess is the Recruiting and Team Development Director at Westmount Capital Realty, LLC. She has over 15 years of HR-related experience in working in commercial real estate, hospital, healthcare, retail/consumer products, & university-level education industries. Focused on the development of successful teams by targeting, identifying, attracting, interviewing, selecting, hiring, and onboarding employees.
To learn more about Westmount Realty Capital or for additional information, contact us at info@westmountrc.com or find us at https://westmountrc.com/.
This article, and Westmount Realty Capital blogs in general, is intended for informational and educational purposes only, and does not constitute a solicitation or offer by Westmount Realty Capital, LLC to buy or sell any securities, futures, options, foreign exchange or other financial instrument or to provide any investment advice or service. Westmount is not your advisor or agent. Please consult your own experts for advice in these areas. Although Westmount provides information it believes to be accurate, Westmount makes no representations or warranties about the accuracy or completeness of the information contained on this article.
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