Get to know the 2021 TA landscape with Monster’s comprehensive survey on the challenges and opportunities of the coming year.
Every year brings new challenges, opportunities, and questions about the future of TA, but never more so than in these unprecedented times. TA teams all over the world are asking themselves if this be the old normal or a new normal? And are there steps that you can take to better position your company as you rebuild your workforce?
To help address some of these pressing questions, Monster connected with recruiters and TA professionals around the world in a comprehensive survey. While no one can predict the future, this resource can provide you with insights around these questions and provide better grounding for your company’s recruiting strategy as you navigate 2021.
Monster’s Future of Work Survey
In its annual flagship global report, Monster compiled data from a comprehensive survey of both employees and recruiters which explored a variety of topics including:
- The Hiring Outlook
- The Pandemic Impact
- Virtual Recruiting
- Fit & Transparency
- Navigating Skills Gap
- Tools & Resources
- Diversity & Inclusion
There’s no avoiding the impact that the coronavirus pandemic has had on the world of work, from the tools and methods employers use to hire and train candidates, to new policies around remote work and flexibility, to a redefined concept of what it actually means to find the ‘right fit’ between candidates and employers.
Despite the lingering uncertainty and fluctuating jobs market, we’re seeing some good news from Monster’s global survey: The hiring outlook going forward is looking more positive than expected!
“We should expect more jobs and more candidates participating in the jobs market, and a lot more activity overall.”Scott Gutz, CEO of Monster
“I fundamentally believe that we will be in a better position this year,” says Scott Gutz, CEO of Monster. “We should expect more jobs and more candidates participating in the jobs market, and a lot more activity overall.”
Of the 82% of employers who plan to hire this year, 47% say it’s to replace or backfill staff, while 35% plan to hire for new positions. Healthcare, Finance/banking, and Real Estate are the top industries hiring to replace lost jobs with Tech adding net new jobs.
The meaning of ‘right fit’ has changed.
According to Monster’s Future of Work survey, 9 out of 10 recruiters say they are confident they can find the right candidate. However, the impact of COVID-19 has changed expectations around what the right fit looks like for both companies and candidates.
These changing expectations may be something recruiters can keep in mind when assessing their net hiring score down the line into 2021.
The top three recruiting challenges identified by employers in Monster’s survey are:
- Finding candidates with the right skills
- Work/life balance expectations
- Virtual recruiting
The skills gap will grow, but new skills are in demand.
Of the employers surveyed, 87% said they struggle to fill positions as a result of the skills gap and nearly one-third of employers agree that the skills gap has increased. This was particularly prevalent among US, Sweden, and UK respondents.
The skills most needed and skills gaps are consistent across all markets. However, dependability and flexibility (new choices on this year’s survey) soared to the top of the most important skills, which included:
- Problem-solving/critical thinking
Work-life balance will continue to be a major theme for candidates.
“Now that the old argument against working from home – that productivity will drop – has been disproved, candidates and employees will expect a lot more flexibility.”Jort Wassenaar, Managing Director of Monster Europe
“Candidates and employers have seen how successful working from home can be,” says Jort Wassenaar, Managing Director of Monster Europe. “Now that the old argument against working from home – that productivity will drop – has been disproved, candidates and employees will expect a lot more flexibility.”
It’s hard to see how companies could justify rolling back all the flexible ways of working that have been introduced during the pandemic – particularly if it would make it harder for people to manage the demands of work and family life – without negatively impacting their employer brand and becoming less attractive to potential employees.
Virtual recruiting will continue to be a challenge.
“I predict that despite virtual and flexible work options continuing, we will also see a gradual return to an in-person work environment,” says Gutz. “Employers have got to start thinking about how to get people comfortable interacting with each other once again, with a focus on health and safety,” he adds.
We anticipate virtual recruiting to be a major challenge in 2021 in terms of collaboration and selection. Only 1 in 10 respondents said their companies are now fully virtual. Both employers and candidates agree that virtual recruiting makes it harder to tell if culture and values align.
France had the highest rate of candidates (80%) saying virtual hiring makes it tough to assess company culture. Also, 61% of global employers said interview presence was the top factor for considering a candidate, which is difficult to do over screens with spotty WiFi.
While virtual recruiting can drive efficiencies in the recruiting process, it can’t exactly replicate the value of in-person interviews. In Monster’s survey, recruiters highlighted three challenges for 2021 as a result of having to conduct all recruitment virtually:
- Assessing candidates during the interview (41%)
- Identifying quality candidates quickly (40%)
- Effectively screening candidates’ pre-interview (36%)
Want more of the latest job market insights?
While the way ahead is still full of uncertainty, it helps to know what companies like yours are thinking about in terms of the economy and its impact on the hiring market going forward. After all, when it comes to building your workforce you want to make sure that you’re employing the best practices to reach the best candidates. For more on how to keep your competitive edge in uncertain times, get your own free copy of Monster’s Future of Work survey today.