Hybrid work seems to be the trending word floating around corporate meetings rooms these days. As a flexible work model that supports a blend of in-office, remote, and on-the-go workers, it offers employees the ability to choose to work wherever and however they are most productive.
Working from home (WFH), telecommuting, and remote work however is a type of flexible working arrangement that allows an employee to work from an out-of-office location for the full scope of their job. Since the pandemic, most companies were forced to go remote and trying to get employees back into the office has proven difficult.
Which begs a few big questions when it comes to the WFH arrangements:
Do we work better in the office or away?
Can we be just as profitable of a company if we are never physically in the same room?
Will companies that bring their employees back in person prove to have an earlier advantage over those that delay?
Also not surprisingly, hybrid is proving to be more popular among women. About 20% of women report splitting their time compared to 14% of men. A hybrid model is particularly attractive to working mothers and makes it possible for children to still be taken care of, especially when flu and colds keep children from attending school for longer periods of time.
“One big trend we are seeing in the companies we hire for is the comfortability talent has for working remotely,” says Jeff Naugle, Co-Founder of Catalyst Career Group. “Job seekers are growing accustomed to working remotely and can afford to choose the position that allows them to do so.”
Consider how job seekers are viewing hybrid and remote work for your company, How that can help you hire the right people in the right positions at the right price point? Ask us about our virtual job fairs or private hiring events and what job descriptions will draw out the right candidates to help you be successful during this season! Contact Catalyst Career Group today.
With the incorporation of remote work as a workplace norm, several businesses and employees have experienced countless benefits that a remote-based work environment entails. This is even more applicable for the Gen Z workforce. According to a survey, over 85% of managers believe that having remote workers will become the new normal for many teams. Remote workers are able to attain a better work-life balance, workplace flexibility, better well-being and an increase in satisfaction. From a business’ standpoint, the implementation of a remote workforce calls for a reduction in office expenses, provides the business with a competitive edge in the jobseeker market, have access to a wider and diverse candidate market and have seen an increase in employee productivity up to 77%.
The success of a remote-based workplace has even paved the way for the gig economy to thrive. Currently, about 36% of US workers are taking part in the gig economy. The growth of the gig economy has experts believe that in 2027, more than 50% of the US workforce will participate as a gig worker, freelancer or contract worker.
Gen Z Stepping Foot In Offices
Despite the benefits and rapid growth of remote work, several members of Generation Z in the workforce have not set foot in an office and are experiencing major drawbacks to their wellbeing and career development. Members of Gen Z have been feeling unmoored and anxious which could potentially cause a detrimental effect to their careers in the long run.
Gen Z Working Face-To-Face
Gen Z workers lack the face-to-face interactions they would normally get from working in-person; with regular workplace interactions being replaced with zoom calls and email chains, long gone are company Friday night get-togethers and workplace traditions. The absence of face-to-face office interactions results in Gen Z workers unable to perform at their highest capacity as they have a harder time meeting work expectations, catching up with deadlines and lack the crucial leadership guidance which leads them to fall behind. The outcome of the situation Gen Z workers face implies a low self-esteem, guilt and anxiety. To add on, members of Gen Z working remotely miss the opportunity to interact with other colleagues in order to build their professional network.
Gen Z Working Remote
Working remotely also results in an increased feeling of loneliness and anxiousness. In Q2 of 2020, those who worked from home exclusively reported higher loneliness at 23% through the start of 2021. Beyond working remotely, the feeling of loneliness and anxiousness is more apparent with members of Gen Z as they are accustomed to spending time in front of screens. According to a study conducted by the National Institute of Mental Health, 70% of Generation Z members across all diverse backgrounds state anxiety and depression are both crucial problems among those in their generation.
Gen Z’s Career Crisis
Another issue Gen Z workers encounter with remote work is facing a career crisis where they have less work experience and power in the workplace. This leads them to feeling out of the loop and unable to determine if they are on the right track. Emails and zoom meetings can only depict so much, without knowing how their bosses and supervisors truly feel, they may be more vulnerable to imposter syndrome; where they doubt their abilities to perform and provide meaningful work. In addition, the inability to form a strong connection with their coworkers and supervisors leads to Gen z workers being more susceptible to misunderstanding situations and having bad feelings at work.
Flexibility For Gen Z’s Work Style
In light of the situation, a more applicable strategy would be providing employees with the flexibility to either work remotely or come in-person. This will allow employees and Gen Z workers to attain the comfort of a work-life balance and workplace flexibility while still having the interpersonal connection in office. Companies such as Apple and Microsoft have implemented this strategy through a hybrid workplace model where employees come into the office half the work week and spend the other half working from home.
According to the State of U.S. Hiring Survey of more than 2,300 senior managers, 65% of respondents anticipate their company adding new permanent positions in the first half of 2022.
As businesses start to reopen and consumer demand rises, majority of businesses have been placing efforts in substantially expanding their workforce this year.
Considering the current candidate-driven market, businesses are facing the challenge of attracting personnel suited for open positions. This has caused recruiters to revisit their hiring strategies in order to find a better way to recruit candidates. One way recruiters are confronting this challenge is through prioritizing their firm’s hiring needs right now.
All About Timing
Timing is critical when hiring during the beginning of this year as strategizing, onboarding talent and training employees takes some time. Planning in a timely manner allows businesses to set their hiring budget and goals, pick from a bigger pool of qualified candidates and allows newly hired employees to assimilate quickly into the company.
One Step Ahead
With several companies planning to hire in the beginning of the year, attaining the top candidate is highly competitive and the time to fill increases as the position remains unfilled. Formulating the hiring strategy as-soon-as-possible allows businesses to be one step ahead of the competition. This provides businesses with the opportunity to dedicate more time and energy towards the hiring process and avoid any candidate miss-outs.
Hiring the wrong person for the job is a costly and time-consuming setback.
The United States Department of Labor estimates the cost of a bad hire costs up to 30% of the employee’s wages for the first year. On top of that, a bad hire decreases productivity and lowers employee morale; so it is vital for businesses to strategize early.
Spread The News
It is essential for businesses to get the word out that they’re hiring. Utilizing virtual platforms or recruiting fairs allows businesses to network to a wider range of qualified candidates. Expanding the business’s reach to as many jobseekers as possible increases the diversity of the talent pool as well as the probability of finding the right candidate faster.
Diversity, Equity and Inclusion
Diversity, Equity and Inclusion (DEI) serves as an important aspect of hiring.
As a matter of fact, corporations identified as more diverse and inclusive are 35% more likely to outperform their competitors.
Diversifying hires allows businesses to generate new ideas and have different perspectives, increase in innovation, increase in employee productivity and profitability and provide a positive company reputation.
As professionals, the goal of every worker is to strive for the next step in their career. One way to accomplish this is through getting a promotion. Getting a promotion normally comes with it’s perks such as higher pay, more responsibility, and of course, a new job title. Reaching the next step means that the employer is satisfied with one’s work and one’s contribution to the company. From a career standpoint, getting a promotion signifies personal career growth and serves as a milestone which affirms an individual’s success in their field.
In numerous cases, it is more difficult for individuals to progress in their career as there are several external factors that play in the mix of promotions such as the type of industry and job location. As individuals in certain states in the U.S. and specific industries have hurdles that slow their career progression. Not to mention, getting promotions have been more of a blur due to the pandemic; with businesses having to cut back on capital spending and implementing lay-offs.
What are the promotion hiring trends per city and industry? What are the in-demand skills for these industries in order to obtain promotion?
Product Management Industry
Product managers guide the success of a product and lead cross-functional teams in order to successfully launch a product in the market. Product managers are responsible for managing all aspects of a product from market conditions to product release to delivery. Their role varies depending on the company and the product.
Product managers have 149% above national average internal promotion rate where the top regions include Fayetteville, Arkansas, Austin, Texas and Richmond, Virginia. The top skills in-demand for product managers are product strategy and product road mapping. As product managers work closely with the product, it is important for product managers to expert these skills and have a deep understanding of the product they are managing.
Marketers all share a common goal of generating revenue for a company, brand, or organization. This is possible through the execution of marketing strategies in order to drive engagement, obtain qualified leads, and generate sales. There are several career paths within the marketing field such as specializing in product marketing, social media marketing, and market analysis.
Marketers have a 94% above national average internal promotion rate where the top regions include New York City, Boston and Austin, Texas. The top skills in demand in the field are digital marketing, email marketing, and content marketing. With the rise of more emphasis on marketing through social media, it is no surprise why the top skills involve social media based marketing skills.
Program and Project Development Industry
Program and project development managers oversee the more technical parts of a company in contrast to a product manager that works on specific projects. They are responsible for planning, prioritizing and coordinating project development endeavors based on customer requirements. For example, a program and project development manager in the tech industry is responsible for overseeing the launch of a feature in an app or a website.
Program and project development managers are 51% above the national average when it comes to internal promotion where the top regions include Wilmington, North Carolina, Fayetteville, Arkansas and Raleigh-Durham-Chapel Hill, North Carolina. The top skills for this role include cross-functional team leadership and agile project management. As program and project development managers manage a larger scale of a project, being an effective leader and being highly adaptable allows them to lead more efficiently which ensures a smoother program or project launch.
An accountant’s basic responsibility is to keep track of one’s personal finances or an organization’s finances. Some accountants may vary in specializations and serve different roles in a company’s or an individual’s finances such as being an auditor, a financial accountant or tax accountant. For example, an auditor would evaluate if a company’s financial statements comply with the generally recognised accounting principles. While tax accounts file an individual’s or company’s tax returns.
Accountants are 47% above the average national average internal promotion rate where the top regions for promotion include Boston, Denver and Chicago. The top skills being sought after are account reconciliation and generally accepted accounting principles. Especially when handling big clients and company finances, account reconciliation and having a comprehensive understanding of the accounting principles is a must in order to display credibility and reliability.
Human Resources Industry
Majority of businesses rely on human resource professionals in managing a company’s employees. From recruiting to employee training, human resource professionals are responsible for managing the employee’s lifecycle. Individuals in human resources may specialize in either recruiting, employee benefits, or conflict resolution.
Human resource professionals have an internal promotion rate 44% above the national average where the top regions for promotion include Fayetteville, Arkansas, Boston and Raleigh-Durham-Chapel Hill, North Carolina. The top skills in-demand in this industry include onboarding, applicant tracking systems, and recruiting. Especially with the great resignation and surplus in job openings, human resource personnel must excel in attaining top-fitted candidates for open roles and recruiting them for the company.
Business Development Industry
As a company continues to flourish, the key for a business’s success is their business development. Business development managers are focused on finding the right opportunities for a business to ensure sustained growth. May it be globalization or finding a new line that the business can benefit from, business development managers are crucial in the future of a company’s success in the market.
Business development managers have a 26% above national average internal promotion rate where the top regions include Fayetteville, Arkansas, Santa Barbara-Santa Maria, California and Chicago. The top skills in demand for business development managers are their ability to strategize and tableau.
Finance professionals range in different roles such as bank tellers, mortgage managers and investment managers. Due to the pandemic, the role of finance professionals has been substantially crucial for several individuals; as customers and clients sought banks and lending institutions for financial support during the declining economy. Employers in this industry are quick to promote existing employees with in-demand roles in order to ensure they are fully staffed during operations.
Finance professionals have an 18% above national average internal promotion rate where the top regions for promotion include Boston, Wilmington, North Carolina and Pittsburgh. The top skills in demand for finance professionals are financial analysis and finance modeling. Especially when handling an individual or company’s finances, finance professionals must be critical in their ability for financial analysis and financial modeling.
Sales serves as a key profitability driver for several businesses and establishments. The industry relies on sales professionals in order to sell their product or service in the market. With a variety of industries and a wide array of products and services, sales professionals may either directly sell to a customer (B2C) or sell from business to business (B2B).
Sales professionals have a 13% above national average internal promotion rate where the top regions for promotion include Austin, Texas, Santa Barbara-Santa Maria, California and Raleigh-Durham-Chapel Hill, North Carolina. The top skills for sales professionals include account management and cold calling. Sales professionals that work with larger corporations must drive sales and establish good connections with their clients. Being experienced in account management and cold calling are effective tools for sales professionals to do so.
Consultants provide businesses with advice and expertise in order for the business to improve their performance. They offer advice based on a business’s operations, profitability, management, structure, and strategy. Businesses tend to hire consultants if they lack in-house expertise, need a second opinion or need help with the company’s business model.
Consultants are 13% above the national average when it comes to internal promotions where the top regions for promotion include Chicago, Boston and New York City. The top skills in demand for consultants are their ability for business analysis and agile methodologies. As some businesses hire consultants during difficult periods, it is crucial for consultants to be experts in analyzing businesses and coming up with agile methodologies.
The purchaser’s role serves different functions depending on the business’s field and needs. Purchasers are responsible for the procurement process meaning they ensure the process of purchasing production materials, supply of goods and equipment runs smoothly. For example, a purchaser may order clothes from a direct supplier to be sold to customers. Another example would be a purchaser ordering raw materials from a manufacturer for a company’s product. Purchasers have a 12% above national average internal promotion rate where the top regions for promotion are in Fayetteville, Arkansas, Columbus, Ohio and Atlanta. The top skills in-demand for purchasers are strategic sourcing and procurement. Specifically with a larger scale of production, purchasers must be proficient in strategic sourcing and procurement in order to ensure a business’s operations flows efficiently.
There are early signs of a turnaround for the economy. With that comes new opportunities for those seeking new employment.
We’re seeing more mortgages, truck load deliveries, flight and hotel bookings, and retail gasoline purchases. Along with that are companies eager to hire to fill their positions right now.
From Chicagoland area, to Wisconsin, Ohio, Texas, New Jersey, Colorado, and New York – businesses are taking advantage of the available workforce for their open positions. There are industries with frontline occupations that need filling as well as logistics and healthcare.
That’s where job fairs come in. While these physical events have been placed on hold due to health concerns, Catalyst Career Group hosts virtual events set up to mimic the real thing.
Hiring managers host a business “booth” and post job positions in advance for candidates to review. When candidates visit the “booth” they can engage the hiring manger in live chat and provide their resume.
If the conversation and resume are of interest to the business, the hiring manager can immediately invite the job seeker for a Zoom interview – right then and there.
Once the virtual job fair is complete, the hiring manager has access to the candidates contact information, resume database, and analytics of the event.
Even more, the hiring manager can continue to reach out to other candidates who may not have visited their “booth” during the event. The opportunities for matching the right candidates with the right employers are especially elevated because of the virtual profile database.
Have you been concerned about having successful in-person interviews? So is the person on the other side of the “table”. When it’s not recommended to physically meet in closed-in locations with multiple individuals, virtual interviews and job fairs are the answer!
Let us know how we can solve your interviewing woes and connect the right candidate to the right position fast!