As we enter into another new year, perhaps a few too many of us are just about ready to put the pain and uncertainty of 2016 behind us. From a seemingly unprecedented spate of celebrities passing away to a potential stock market bubble looming on the horizon, 2016 has left many feeling uncertain about 2017. Businesses, in particular, may be feeling a bit wary going into the new year. Is now the time to start hiring, or should we still be holding back just a bit longer? Here are 3 important trends to help inform your 2017 hiring decisions.
1. Female Workers Will Continue to be a Growing Resource in 2017 Hiring Decisions
Furthering a trend that has been going on for years, women continue to outnumber men on America’s college campus. The freshman class of 2014 entered the college scene heavily weighted toward female students. Indeed, at the time women outnumbered men 55% to 45%.
Compound this with the relatively solid job market in 2016, and it’s clear that women will be leading the way in America’s large and small businesses in 2017, and in particular among the hiring pool.
What kind of skills are female workers bringing to the table? The outlook is mixed. While fewer women are entering into high-demand fields like computer science and IT-related fields, more are entering into fields more commonly dominated by men. According to the US News and World Report, this includes more women entering into scientific and managerial jobs. This means the female workers entering the market are more likely to be self-driven, collaborative, highly independent and incredibly creative.
2. More Graduates Will Be Willing to Wait for the Perfect Job
In 2016, college graduates enjoyed one of the best job markets in years. The economic recovery has been slow but has been highlighted by decreasing unemployment rates and a noticeable uptick in the number of jobs opening up and getting filled. The U.S. will end 2016 with an unemployment rate at just under 5%, down significantly from a high point of 10% reached in 2009.
Uncertain job markets tend to make new college graduates skittish about their options and competition for jobs. As such, far more were accepting jobs before they even graduated. According to Accenture, 42% of the 2014/2015 college graduates accepted a job offer before or upon graduation, compared to 21% of college graduates for 2016. Meanwhile, 61% of 2016 college graduates waited to find the best job, accepting an offer within 1-6 months. Unlike their 2014/2015 graduates, no 2016 graduates reported that they were unable to locate a job.
Even more interesting, more 2016 graduates were willing to wait even longer. Just under 20% waited for 7 months to more than a year before deciding on the right job. Some might say this could be their inability to find a job at all. However, with the current strength of the job market, that’s highly unlikely. New graduates in 2016 were able (and more willing) to wait until the right job came along. In 2017, this is also going to be the case.
3. Technology Skills Will Still Be in High Demand — But in Short Supply
- Cloud and Distributed Computing
- Statistical Analysis and Data Mining
- Web Architecture and Development Framework
- Middleware and Integration Software
- User Interface Design
- Network and Information Security
- Mobile Development
- Data Presentation
- SEO/SEM Marketing
- Storage Systems and Management
Interestingly, SEO/SEM Marketing dropped from #4 to #9 year over year. LinkedIn notes that this is because the supply for those with marketing skills caught up to demand. The other skills are significantly more difficult to fill, as many college graduates are not getting properly trained in these skills prior to graduating from undergraduate degrees. Instead, most are picking up these skills on-the-job or through specialized Master’s degree or certificate training. If you’re looking to fill these positions in 2017, your best bet is going to be to avoid recent Bachelor’s graduates, instead opting for those who have a few year of work under their belt, or those just graduating from Master’s or Ph.D. programs.
New Hires are Going to Demand the Requisite Technology Infrastructure
With so many tech-heavy jobs in demand, and with new hires and new graduates more willing to wait to find the right job, your business needs to be attractive in your 2017 hiring decisions. This means making sure all aspects of your technology infrastructure match the needs of your new hires. Whether that means upgrading your collaboration tools or building in new solutions for telepresence, if you want to attract the best hires for 2017 you’ll need the best technology solutions in place.
Fidelus can help you upgrade your current technology infrastructure for 2017. With years of experience in the field, Fidelus helps businesses plan, install and operate their collaboration tools, hardware and data management solutions. Let Fidelus help your business get tech ready the new year!