Global Employment Trends
There are many emerging global employment trends. The turnover and retention of workers are affected by national job growth, reversals, and the ability to look for employment. Young people are severely facing unemployment because of their limited work experience. When they are applying for entry-level jobs, they face difficulties due to a lack of practice. Further major structural limitations are preventing young people from entering the employment market.
NEET Status
Globally, one-fifth of the young generation currently has NEET state, which means they are not gaining any experience or training. They are not currently working anywhere as an employee, nor are they receiving any earnings from work. They are not working to enhance their expertise and skills. Young women are twice as young men to have NEET status. This gender gap is more considered in Southern Asia and the Arab States, where the cultural norms and beliefs are preventing women from fulfilling their desires and becoming a part of the employment market.
Company Values
The concept of how to choose a job is changing. When a person is selecting jobs, they are attracted, not only to the job role and description, but to the company’s mission, vision, and values. The company’s objective is relatively called the mission. For the organisation to meet and pursue those goals, there must be a vision. They have some principles and values to support the goals that assists them to guide the company standards. People are now examining these points before applying for job vacancies. People may also have a shortlist of companies they aspire to working for, even ones without current vacancies. This is because the company and personal values are aligned. It has never been more important for companies to have an exceptional EVP, Employee Value Proposition, to secure applicants, employee engagement and retention.
Diversity and Inclusion
Employees get material and immaterial benefits from the workplace. Diversity and inclusion is becoming more of a significant factor when decisions have to be made about ones next job role. Every person is different and can come up with different creative ideas and plans. However, hiring people from different age groups and experiences will produce a balancing impact on the company. It can help to promote creativity and offer a range of perspectives and approaches. If somebody has several talents, they can offer them to the organisation to get more facilities for their services. Candidates have more choices and make their decisions in a more detailed way. A company that welcomes diversity will draw a broader range of applicants to their vacancies. Employees are more likely to feel satisfied working in a diverse and inclusive atmosphere, where they will have a chance to polish their skills.
Flexible Working
There is a greater demand for flexible working. As there is a talent shortage, candidates can afford to ask for extra benefits. Employers, who are open to flexible working hours and locations, will often have the best talent attracted to working for them. Another emerging employment trend is talent mobilisation. Employees are actively starting to look for multiple roles at the same time and more flexibility. This may be due to the rise in the gig economy, or that candidates have more power and can choose the best aspects of their roles or projects.
Hard vs Soft Skills
Organisations want their employees to have both hard skills and soft skills. However, soft skills are more in demand nowadays. For instance, if you are good at communicating, you are more attractive as a long-term employee. Your hard skill set may not be needed within the company in 5 years’ time, but good communication skills will always be necessary. Companies are starting to see the importance in retraining their staff to ensure they remain useful to the company in the future. Candidates are actively looking for companies invested in their staff’s future.