Dec 18, 2023
With Bonnie Burk, the Director of Recruitment at IntegriSource
Despite dire predictions based on labor strikes, global wars, and the reoccurring threats of inflation and recession, employment growth in the United States remained strong throughout 2023. But what lies ahead for 2024? What industries are hiring and what markets are downsizing their employee base? Where are the best job opportunities and how does the rising demand for Artificial Intelligence and other new emerging technologies impact the employment market?
As our population ages and skilled workers retire, that leaves a shortage of qualified talent to replace them. In the past, employers would automatically disqualify or dismiss candidates without a college degree, but from a recruitment standpoint today, they might need to focus less on degree-based hiring in favor of skill-based hiring. Companies that plan to hire additional staff should be prepared to match current market wages if they hope to remain competitive and recruit quality talent.
According to Bonnie Burk, the Director of Recruitment at IntegriSource, a staffing company that specializes in IT and Computer Engineering, service industries like healthcare, hospitality, and transportation continue to be plagued by labor shortages, while other industries such as the tech sector are aggressively reducing their headcount. While their core business staff may remain intact, these companies will continue to right-size their staffing needs by trimming other departments such as legal, accounting, and HR. Although the demand for Artificial Intelligence is growing rapidly, it can’t replace the need for a creative workforce or specially trained, skilled workers.
Even as employers prioritize onsite attendance, job seekers are pushing back against the “return to office” trend in favor of remote or hybrid opportunities that offer more flexibility and a better work-life balance. While it’s expected that wages will remain relatively flat, employers may focus instead on cost-of-living increases. Mature job seekers who have suddenly found themselves unemployed may want to remember the following when updating their resumes. Make sure that the resume length is no more than two pages in total. If you fear your age might work against you, it’s okay to leave out the dates of your education and the former employment periods. For more information on current employment trends and tips, please check out Florine’s 2022 interview with Bonnie.
What You’ll Hear in This Episode:
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How did Bonnie get into recruiting?
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How is the job market different today than in the past?
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Why are employees changing jobs so frequently today?
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How can companies afford to pay what job seekers are desiring and still make money?
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What are some of the biggest challenges that employees currently have in finding qualified candidates?
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What about workers such as administrative professionals or technicians?
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How criminal background and driving records can often be an obstacle for those seeking employment.
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What industries offer the greatest hiring opportunities in today’s job market?
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Why are so many long-term employees deciding on early retirement?
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The importance of leaving your current place of employment on a good note.
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Bonnie shares her professional recommendations for companies facing a personnel shortage.
Today’s Takeaway:
One of the biggest concerns for employers in 2022 has been the difficulty in hiring and retaining qualified employees. The Department of Labor statistics indicate there are presently 11.3 million job openings which equates to 1.7 jobs available for every unemployed person. This would suggest that job seekers would have an easy time finding a job and yet, despite aggressive salary offers, companies have been unable to fill open positions. Although the desire to work remotely has definitely impacted the current job market, that’s not the only reason why there are so many job openings. The number of highly-skilled workers who voluntarily left the workforce since 2020 seeking early retirement is significantly higher than in recent years. Replacing these individuals with their unique skill sets or finding qualified individuals who meet specific job requirements is one of the biggest challenges for companies and recruiters. Although the job market might be filled with job-seeking individuals, they may lack the credentials and skill sets needed for a particular job posting. These positions can remain open and unfilled for months if not years while the employer waits for the ideal candidate to appear.
In addition, as we’ve heard, other factors may automatically disqualify candidates from certain jobs, such as people who can’t pass background checks due to their criminal background, education level, or immigration status. So what’s the answer? Should employers relax their strict employment requirements? Offer advanced schooling grants or on-the-job training? Should the government allocate funds for tax credits in exchange for continuing education or advanced degrees in specific fields? Employers may need to rethink their approach to talent acquisition to change how they address employee retention and staffing to keep their workforce competitive. Remember that every day is a gift and the gift of having an enjoyable, fulfilling job that not only allows us to pay our bills but offers the chance for continuing education and advancement is truly a gift. I’m Florine Mark, and that’s “Today’s Takeaway.”
Quotes:
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“The easiest way to get a bump in salary is to switch jobs.” — Bonnie [10:10]
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“There is a huge skills mismatch with the people who are actively looking for a new role and the posted jobs there.” — Bonnie [12:15]
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“Sometimes ageism comes into play. I see that more than any other diversity issue.” — Bonnie [17:59]
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“I believe being a teacher is one of the greatest things you can do.” — Florine [19:24]
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“There are so many people looking for a new role.” — Bonnie [23:48]
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“For current employees, I really suggest that they (employers) upskill or cross-train and promote their internal employees. You want to hang on to the ones you already have.” — Bonnie [29:40]
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“Growth doesn’t always mean a higher salary.” — Bonnie [31:58]
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