By Chad Warner
In no time at all, a new year will be upon us. Many entrepreneurs view the start of a new year as an opportunity to reevaluate company goals and to hire new employees to help their businesses grow. Staying up-to-date on emerging workplace trends is crucial in order for a company to stay competitive. Here’s what to expect hiring wise next year.
Hiring trend #1: New workplace demographics
The country’s largest labor force is now comprised of millennials (individuals born between 1981-1996). This group of employees is well-known for its desire for annual raises and career advancement. Once reputed for their job-hopping tendencies, millennials are now projected to stay in their positions for at least six years. Although this group desires long-term stability, patience is not a key trait—so look out, employers. If millennials are not progressing at their current workplace as desired, they are not afraid to jump to a better career opportunity.
But millennials are not the only generation of worker in 2020 workplaces. With the average employee now working for more years, there are now four generations of workers in the workforce. Each generation features its own diverse background, but individuals must work together in collaborative teams. Their conflicting views, expectations, and priorities can present challenges to employers.
Increased globalization also brings in a new pool of talent and cultural diversity. As a result, internal interactions within companies will need to incorporate a broader set of values that includes cultural differences.
Hiring trend #2: “Work-life balance” is replaced by “work-life integration”
Recently sought-after “work-life balance” is being replaced by “work-life integration,” a new term that recognizes that work and life coexist together. Millennials are seeking this integration which will require employers to get more flexible with work perk offerings and employee benefits. Gone are the days when an employer’s wellness program could be simply an on-site gym. Now, workshops, yoga classes, gamification, and more are being provided in new holistic wellness initiatives.
Employees want to be able to customize their benefits packages to their unique needs—and employers are listening. The creation of cafeteria benefit plans enables employers to allocate money to specifically requested benefits that better suit a particular employee.
Other examples of requested work-life integration include unlimited paid time off, the ability to work remotely, non-scheduled work hours, ongoing performance assessments, and professional development opportunities.
Hiring trend #3: Increased flexibility in work locations and work hours
Gone are the days of traditional work hours involving sitting at a desk. Employers who recognize this shift are asking employees about workplace flexibility. Besides having more content employees, flexible work arrangements can provide cost savings, too. When employees are presented with the opportunity to work remotely, employers may no longer need the expense of large office space rentals.
But just because employees may not be working in a traditional office setting, it doesn’t mean they’re not working. In fact, remote workers are known to be both happier and more productive when they get a say in where they spend the majority of their workday.