GLOBAL HIRING TRENDS
Twenty years ago, people worked in office buildings and sat in partitioned cubicles for eight hours a day. Today, the world is different — work isn’t confined to just one geographical area, as it can be completed almost anywhere thanks to the Internet.
According to CNBC, 70% of employees have been working remotely at least once a week since 2018. This increasing number of employees working remotely has caused a shift in hiring trends on a global scale.
Companies who want to remain competitive must adapt to the changing face of hiring. Below are five of the biggest global hiring trends affecting the workforce, and why they matter.
1. Contract and freelance workers
In the past, HR managers hired based on part-time or full-time positions only. Now, hiring contractors and freelance workers has been one of the biggest movements globally. This greatly reduces the costs associated with hiring direct employees, because the company saves money on the resources that an employee would have been consumed if the employee worked on site.
This strategy also allows the company to adjust the number of employees depending on the demand. For example, the holiday season usually brings in an increase in operations. A company may then opt to hire additional contractors to meet temporary demand, without the downsides of a lasting contract.
2. Direct sourcing
Turning to direct sourcing has many organizational advantages. Direct sourcing companies typically screen potential employees and provide the hiring company with workers that meet the requirements for the job, without the need for middlemen. Some benefits of direct sourcing include reducing the costs of advertising job openings, a fast-tracked on-boarding process, and streamlined connections to global talent.
3. Building great company culture
According to recent data, 74% of employees prefer a leadership style that focuses on empathy and support. HR managers play a crucial role in fostering this type of culture through workshops, opening communication channels, and more.
A graduate in HR management is trained in interpersonal management and business organizational behavior. This training allows them to create relationships and team building activities that increases camaraderie in the workplace. Ultimately, the goal of HR managers is to maintain a productive workforce, while creating a positive culture that inspires excellence.
4. Greater focus on diversity
Companies are increasingly focused on hiring diverse talent compared with previous decades. While partly in response to changes in social climate, hiring diverse talent also poses distinct advantages for business.
Companies that have more ethnic and cultural diversity are 33% more likely to see profits in the above average range. Additionally, in a quickly globalizing world a diverse workforce is likely to pose distinct advantages in terms of adaptability and experience.
5. Technology and software
With employees applying for positions remotely, technology and software play crucial roles in hiring. Effective remote communication is made possible by up-to-date computers, high-speed internet, and updated application programs, just to name a few.
On a website or job listing, most companies specify the minimum technical requirements for applicants from remote locations. This saves time and money by streamlining the hiring process, and making sure all the minimum requirements are met prior to proceeding with virtual interviews or on-board training.
The new trends in hiring a remote workforce have created a shift in how top talent is recruited on a global scale. By contracting workers, direct sourcing, building a great company culture, pushing for diversity in hiring, and focusing on technology, even smaller companies can build a talent pool that will keep them productive and competitive for years to come.