Three Talent Trends for 2018

February 22, 2018

Three Talent Trends for 2018

Between the rapid evolution of technology, an unprecedented emphasis on company culture, and new multi-generational dynamics popping up in the workplace, the field of human resources is experiencing quite the renaissance. While many of these trends have been at play for the past couple of years, 2018 is becoming a monumental year for the way HR departments operate and innovate.

In order to ensure that employees and candidates are prepared for these organizational and cultural changes, it is critical for human resources professionals to understand how these trends will interrupt, re-invent, and influence the future of the workplace. 

  1. Millennials now have a (major) seat at the table.

When millennials first joined the workforce, they craved flexibility, feedback, and most notably, purpose. At the same time, Baby Boomers and Gen X professionals found this new crop of workers to be rather lazy and self-interested. Now in their mid-thirties, many millennials have advanced into leadership roles and are responsible for supervising the older generations that once doubted their abilities.

However, due to the rapid pace at which they moved up the ranks, many millennials haven’t had enough experience to develop the necessary soft skills to effectively manage and lead a team. Furthermore, 45 percent of Baby Boomers and Gen X workers feel that millennials’ lack of managerial experience could have a negative impact on the company’s culture, according to a Future Workplace survey. To address this challenge, organizations will have to implement training programs to support the changing dynamics and teach millennials how to cultivate positive, productive, and respectful relationships between generations.

  1. Candidates want to read company culture like an open book.

For candidates, an organization’s culture and quality of life are now key factors in determining where and for whom they want to work. Traditionally, it’s been nearly impossible for candidates to get an accurate and genuine view of a company’s culture, so organizations will need to evolve the recruiting process to effectively display an honest picture of their business culture.

Organizations can start by letting candidates speak with current employees to learn about the pros and cons of the job. Written testimonials, informative videos, AI simulations, and social media are all effective tools companies can use to offer candidates a genuine look at what it’s like to work there. By being realistic and honest about company culture, businesses can ultimately avoid employee turnover and wasteful hiring costs. 

  1. Treat candidates as you would a customer.

Because of today’s highly competitive and extremely connected hiring environment, organizations must understand and leverage the long-term power of providing a positive candidate experience. It’s been proven that investing in and managing the candidate experience has a direct tie in to business performance. Why? Because most candidates already are or can often become future customers, clients, or partners. According to a recent Futurestep survey, 75 percent of candidates would not accept a job if they were treated poorly during the hiring process. Additionally, more than half are unlikely to remain a customer of the company if they had a negative candidate experience, and some would even go so far as to encourage friends and family to stop being a customer of the company.

In 2018, human resources will need to identify new and creative ways to ensure a positive candidate experience. For example, some HR departments have teamed up with marketing to monetize the candidate conversation by offering exclusive coupons, discount codes, and other desirable perks to applicants. Recruiters should also make a point to ask for feedback, as many candidates view this as a positive gesture and can, in turn, offer valuable recommendations. Investing in candidate care is a sure-fire way to ensure that your company secures great hires along with a positive reputation.
 

The Authors: 

Jeanne MacDonald is a Global Operating Executive and President of Global Talent Solutions for Futurestep. She has served on Korn Ferry’s Global Partnership Council and the Korn Ferry Global Technology Leadership team. She is also a Board Trustee for the Human Resources Outsourcing Association.