As your organization prepares for a new decade, you're likely reflecting on how your business operations have evolved in the past 10 years -- if you've been around for that long -- and potential changes to expect in the coming decade. And one thing to keep in mind is how your hiring efforts have changed over the years.
Unemployment is at a 50-year low and the hiring landscape has changed over the years. Rather than job seekers selling themselves to employers on why they're a fit, employers now need to sell their open roles to top talent. Below, I've outlined a few other hiring trends that have grown in the past decade, and how your team can adapt to these trends.
1. Employee reviews have transformed hiring.
Today's job seekers have access to more information about potential employers than ever before. Previously, if a prospective applicant was interested in an open role, the applicant might have known a current or past employee at the company, giving them the opportunity to ask what it's like to work for the team. But otherwise, applicants had little idea about the type of work environment they were walking into until they got started on the job.
In the 2010s, this changed with the growth of employee review sites like Glassdoor -- which was founded in 2007 -- as well as social media platforms like LinkedIn and Facebook. Now, employee reviews can make or break a job seeker's likelihood of applying to an open role.
A recent study from CareerArc, an HR technology company, found that more than half (55 percent) of job seekers would abandon a job application if they read negative employee reviews online. The study surveyed HR professionals and job seekers from across the U.S.
To ensure employee reviews are helping rather than harming your hiring steps, your team can take several important steps. First, you should monitor all reviews on a regular basis. You should also respond to feedback when possible -- whether the feedback is positive or negative -- and outline steps to address the feedback. This will show employees and prospective applicants who come across your reviews that employee feedback is valued.
2. Job seekers demand an engaging candidate experience.
The unemployment rate has been steadily declining since the turn of the last decade, which has created a competitive hiring market for employers. And the tight labor market also gives job seekers the flexibility to apply roles with other organizations if you don't support a top-notch candidate experience.
A recent study from Phenom People, a talent experience management provider, found that 99 percent of the Fortune 500 do not further communicate application status after confirming they have received the application. But if your team does the same, you'll likely lose qualified candidates to other job opportunities.
To keep candidates engaged throughout the hiring process, you can use several modes of communication -- including phone calls, emails and tapping into the growing trend of texting candidates. Leverage these channels to keep job seekers updated on where their applications stand in the hiring process, remind them of steps they need to take -- such as filling out reference check information -- and to schedule interviews.
3. Remote work is now mainstream.
Over the past decade, remote work and flexible work hours have emerged as growing trends across industries. Data from FlexJobs, a remote and flexible work job site, found that remote work has grown 159 percent since 2005 and 91 percent in the past decade alone. On my team of more than 200 employees, a few dozen of these employees work remotely and are located across the country.
The growth of remote work shows no signs of slowing down and it can benefit your team greatly, as you'll have access to more talent than job seekers in your direct geographic area. But whether you already have remote employees or are planning to add some to your team, you should take proactive steps to ensure your remote staff doesn't feel isolated.
On my team, to build relationships with our remote team and keep them engaged, we dedicate two weeks each year to getting the whole team together in the office. We've also invested in video conferencing technology so remote employees truly feel like a part of the team during internal meetings.
As a new decade kicks off, the hiring landscape is likely going to be drastically different in 10 years than it is today. By staying up-to-date with the latest hiring trends, you can set your team up for hiring success in the years to come.