Courtesy Walrath Recruiting Inc.
By Renee Walrath
In 2024, hiring trends will shift as organizations adapt to a changing global workforce and several key themes emerge, offering employers and job seekers a positive outlook. While 2023 started with massive layoffs and continued with that trend throughout the year to cut costs, the hiring trends for 2024 indicate a renewed sense of optimism.
Google research shows that 39 percent of hiring leaders said they plan to increase their financial commitment toward hiring in 2024, and 70 percent of surveyed U.S. job seekers were somewhat or very confident about their prospects of finding new jobs.
As economies rebound and industries rebuild, companies prepare for growth, creating a heightened demand for skilled professionals. This positive outlook is demonstrated by increased job opportunities across various sectors, creating a favorable environment for job seekers.
Throughout 2023, we’ve seen many companies requiring workers to go back to the office and anticipate more companies to do the same in 2024, with flexibility for remote work on an as-needed basis. Many technological roles will remain remote. While working remote during and post the pandemic, companies noted that Millennials and especially Gen Z were lacking mentor and coaching since they were not working in an office. For us Baby Boomers, it was important for us to learn from our mentors and peers in the office to advance our career. It’s much easier to ask a question when a colleague is sitting right next to you. Listening to other peers in the office discuss a work problem and solving it is how others learn their industry quicker.
The demand for technology-related skills like data analysis, artificial intelligence, cyber security, and software development is projected to remain high in demand for 2024.While technical skills remained crucial, soft skills such as adaptability, communication, problem-solving, and emotional intelligence were increasingly valued by employers, especially in roles that require collaboration and interaction. The emphasis on skills over traditional qualifications like degrees is becoming more prominent. Companies might prioritize skills-based hiring practices, focusing on candidates’ abilities and potential for growth.
In 2024, it is important to engage prospective candidates throughout the recruitment process as well as create a positive employee on-boarding experience. Since Millennials make up most of the full-time workforce currently, it is important to understand their needs. Additional learning and development are important to them as well as working for an organization that prioritizes sustainability and corporate social responsibility. Employees want good benefits such as health insurance, vacation, holiday, and sick time as well as a 401k and/or retirement plan. All of these will assist in retaining valuable employees.
Pay transparency has made it necessary for organizations to perform a compensation analysis resulting in salaries increasing late 2022 & 2023. For 2024, most companies are adhering to paying employees equitably resulting in offering fair salaries and retaining employees.
Based on an article in Forbes Magazine of ongoing trends and emerging industries, here are some fields mentioned that might continue to be in demand in 2024:
• AI and Machine Learning: With the increasing integration of artificial intelligence in various industries, roles related to AI development, machine learning engineering, data science, and AI ethics could continue to be in high demand.
• Cyber security: As digital threats evolve, the demand for cyber security experts is likely to grow. Roles like cyber security analysts, ethical hackers, and information security managers could remain in high demand.
• Renewable Energy: With a focus on sustainability and combating climate change, careers in renewable energy, such as solar and wind energy technicians, sustainable energy researchers, and green technology specialists, may continue to be promising.
• Healthcare and Telemedicine: The healthcare industry, including telemedicine, digital health, and personalized medicine, is expected to keep expanding, creating opportunities for healthcare professionals, data analysts, and software developers focusing on healthcare applications.
• E-commerce and Digital Marketing: The growth of online shopping and digital marketing strategies is likely to persist, leading to increased demand for e-commerce specialists, digital marketers, SEO experts, and content creators.
It’s essential to stay adaptable and continuously update skills and knowledge to align with evolving market demands, and emerging industries for a successful career in the years to come.
Looking forward to a successful and prosperous 2024!