Workplace Trends in 2020
Hiring, recruiting, and the general industry of human resources is constantly evolving, incorporating cutting-edge technology and innovative methods. With the hiring and recruiting trends taking the front seat, its equally important to address workplace trends that can help push your hiring and recruiting efforts to the forefront of competition.
Upswing of Hiring and Recruiting Trends
Criminal records: Part of incorporating diversity is taking into consideration all walks of life, including people with criminal pasts. While it may not be trending just yet, hiring candidates with criminal backgrounds is garnering some attention. Late October of this year, JP Morgan Chase disclosed that 10% of its new hires in the past year had criminal records. Four years ago, a California company founder who is a recovering addict advocates for hiring others who have served time or suffer from addiction. An investor of a chain of dry cleaners who served five years in prison recruits employees from halfway houses and residential treatment centers. Violent crimes, such as murder or assault, might be harder to present a “second chance” for from an employer standpoint. However, crimes committed many years prior (i.e., ten years or more), while a youth, or less severe (i.e., theft, addiction-related, etc.) might be given a second chance at employment. At minimum, it should be in the employer’s best interest to allow candidates to explain and showcase how they’ve changed before eliminating them from candidacy.
Identifying and measuring potential: Iconic celebrities like Tom Brady, Oprah Winfrey, and JK Rowling all experienced failures and people who doubted their abilities before reaching their current careers statuses. Investing time and effort into identifying potential in prospective candidates and measuring potential in current employees may provide companies ways to reduce employee turnover and enhance the candidate pools. With a whopping 83% of HR professionals struggling to find top talent in the past year, 75% also noted skill gaps. Instead of recruiting new talent or creating unrealistic checklists, take a look around at your current staff. Encompassing traits and skills that cannot necessarily be taught might be more invaluable than you may think. For example, instead of focusing on specific skillsets, look for candidates who are forward-thinking, collaborative, communicative, and possess traits that can contribute something unique to your company.
Employee turnover rates are at an all-time high, but investing in employee development and engagement can help retain quality employees, as well as attract new employees. Hiring and recruiting is only one hurdle in retaining employees. It is company culture and values that persuade employees to stay.
Improving Employee Development and Engagement
Salary. The best start to show appreciation for your employees is paying them what they’re worth. Do your research and consult your budget. Sometimes budgets restrict monetary means of displaying employee appreciation or an attractive benefit in recruiting candidates, but there are many alternatives to such a predicament. For example, you could offer work from home, flexible work arrangements, flexible or unlimited unpaid time off, extended vacations, or even simply valuing quality over quantity. Hiring one or two outstanding employees for a larger vacancy of positions can provide the help you need. For example, if those one or two employees bring in more revenue for the company, your budget can expand to add people as you go to help bridge gaps or deficits in responsibilities.
Workplace culture. The biggest challenge can be maintaining a positive, diverse, collaborative company culture. Studies have shown that employees will not utilize paid time off if they feel they are not free to use it. Perhaps a stressful work environment may lead an employee to think their integral role in the line of work is more important than using their hours of PTO they earned for a day of rest or a mini vacation to escape. People want to feel valued in a company and the best way to do so is focusing on what they look for in your company. Revisit your company’s vision and if needed, revamp it to focus on the people who serve it.
Complementary benefits. While medical, dental, life, and accident insurance policies and paid time off are all fairly standard benefits employees seek, adding complementary benefits to your employee benefits package can aid in employee retention and engagement. Perks could include tuition assistance, flexible or unlimited vacation time, remote or telecommute options, and health wellness programs. Not only do these perks help attract candidates, but can also aid in retaining current employees. With bachelor’s degrees falling to the norm of most average paying jobs, people are returning to school for graduate degrees and continued education courses to help give them an edge in the talent pools. Tuition assistance or even flex scheduling creates a competitive edge for you to recruit top talent. Flexible vacation time, remote options, and health wellness programs all promote good health, including mental health which has become a trending topic in workplace cultures.
If you’re looking for a comprehensive employee benefits package to offer your employees, call Human Capital. As a leader in HR services, we specialize in performance appraisals and reward and recognition programs unique to your company. Check out our integrated employee benefits options and let us know how we can help you.