In 2020, companies had to adapt quickly as most of the workforce moved to remote work environments, and the way we did our jobs, held meetings, conducted interviews, and onboarded new talent changed dramatically.
In the wake of rapid innovation, and with a new year upon us, hiring teams and managers will need to continue to adapt to another “new normal,” as an optimistic return to normalcy is on the horizon.
So how will this impact the future of recruitment and the hiring trends we can expect to see in 2021? We’ll explore below.
The Talent Gap Will Close Significantly
For years, recruiting firms have seen the talent gap widening when it came to the limited number of available, qualified, and skilled candidates compared to the number of open roles.
The past year completely turned this situation on its head; far-reaching layoffs reduced headcount by 30% (on average), and talent pools became flooded with highly sought after talent when they were once bare.
In times of recession, it is often the marketing, training, and sales departments that are hit hardest, as salaries and budgets are trimmed. As the economy slowly recovers, companies will begin hiring these functions again and will have access to some of the best and most highly skilled talent available in nearly decades.
Companies Will Expand Their Reach For Talent
As COVID-19 sent much of the workforce remote, many companies had to adapt and holistically support an entirely virtual workforce.
As a result of this transition and nearly a year of successful remote operations, hiring teams in 2021 will expand their geographic reach in order to find the best talent for a role. Hiring teams will begin looking beyond their immediate city for the best candidates as well as introduce virtual onboarding. This will continue to support a company’s ability to expand their search for finding and hiring the best candidates that were considered out of reach or unavailable in the past.
Competitive Benefits For Attracting Talent
In 2020, we watched as massive layoffs swept through the economy. As a result, many customers and employees lost their loyalty to brands and employers both professionally and socially. While there is a considerable amount of talent available within the marketplace, companies and hiring teams will need to offer even more competitive benefits to attract top performers. The pandemic completely changed the way employees collaborated and worked together. Now, candidates will expect a lot more flexibility and support as they return to the workplace, including:
- A roughly even split (2-3 days) of remote versus in-office work.
- Flexible work days and alternatives to the home office such as local shared coworking spaces
- Remote work rewards and credits available to support home office environments
- A commitment and investment in well-being, mental health, diversity, and inclusion
Salary Disparity Gaps Will Shrink As We Move Towards Equality
2020, despite its faults, did serve as a catalyst for social justice efforts. Organizations industry-wide were directly challenged to meet the social demand for equality, diversity, and inclusion.
As a result of the call-to-action for closing the diversity gap, hiring teams can expect to see less disparity across racial and gender demographics when it comes to equitable compensation. We will also see hiring teams develop and implement stronger commitments to internal diversity and inclusion initiatives, awareness, and mentorship programs to elevate these minorities within their own workforces and educate the majorities.
How Can You Compete When Hiring Sales, Marketing, and Tech Talent?
With these trends affecting the talent landscape in 2021, hiring teams will need to consider their nuances when approaching and attracting talent to stand out from their competitors.
With years of experience in recruiting marketing, sales, and technology roles at high-growth start-ups, ImpactSearch can help you attract, compete for and win the best talent for these critical roles. Take the stress out of hiring and staffing and let the recruiting experts at ImpactSearch help.