As we enter a new year, Tandym Group is proud to announce the release of their 2016 Hiring Outlook: Strategies for Adapting to a Candidate-Driven Market.The report provides insights into how companies can attract and retain talent in today’s highly competitive job market and discusses the massive impact of millennials on how companies hire and manage their employees.
“As the job market continues to improve, we are hearing from clients that it’s becoming increasingly difficult to both find and retain high-quality employees,” said Edward Fleischman, Chairman and CEO of Tandym Group. “Compounding the problem, we’re seeing a disconnect between what employees want in a job and what employers believe they want. It is our hope that the 2016 Hiring Outlook will help employers better understand this candidate-driven job market and provide them with the tools to build and sustain a strong workforce.”
The report’s findings were taken from a survey of 226 employers/hiring decision makers from companies across a number of sectors such as financial services, healthcare, and non-profit, among others. In addition to the employer survey, the report also incorporated findings from a survey of 591 job seekers and working professionals, shedding light on what is valued by today’s professionals both within a job and when job-searching.
Findings of the 2016 Hiring Outlook surveys include:
- The demand for talent is high: 66% of employer’s surveyed plan to hire additional staff in 2016
- There is a disconnect between what employers think job-seekers are looking for and what they really want: Employers ranked salary and benefits higher than advancement opportunities when they were asked what they thought was important to prospective employees, but in reality 51% of employees said that the opportunity for professional development was their #1 priority
- There are more options for job-seekers, which means more competition for employers: 56% of employees said they interviewed for two or more roles during the interview process for their current position
- Job hopping is real: 50% of survey respondents reported that they expected to have 6+ employers over the course of their career
- Companies are increasingly turning to temporary staff to meet talent demands: 27% of hiring managers surveyed plan to increase hiring of temporary, freelance, consulting, or contract employees in 2016
Based on the results of both surveys, the Hiring Outlook provides strategies for finding and securing talent and retaining employees. The report also explores the value of utilizing temporary employees to meet growing talent demands and discusses how employers can effectively tap into the millennial demographic, which recently surpassed Gen X to become the largest share of the U.S. workforce.