Category: Talent & Market Insights

The Recruitment Handbook for Energy & Utilities

Posted on by akessler

The Recruitment Handbook for Energy & Utilities

The energy and utilities industry is undergoing a massive transition as providers move to green and renewable energy sources and adjust to changing energy use patterns across the globe.

This means the sector is facing a unique set of talent challenges. In many areas of the globe, energy job growth is outpacing the rest of the economy. At the same time, the workforce is aging, creating a massive talent gap. In fact, according to McKinsey, the massive growth in solar and wind projects expected by 2030 will make it almost impossible to staff these projects with qualified development and construction employees as well as operations and maintenance workers.

Now, talent leaders need to think big—not just to attract more and younger workers, but to reskill workers in the shrinking fossil fuels industry and plan for the future.

In this handbook, you’ll learn:

  • Global trends driving the need for energy and utilities talent
  • Strategies for overcoming challenges in your energy and utilities hiring programs
  • How partnering with an RPO provider can help

The Recruitment Handbook for Travel and Hospitality

Posted on by akessler

The Recruitment Handbook for Travel and Hospitality

5 Strategies for Recruiting the Best Travel and Hospitality Talent Now and into the Future

Through the job market volatility that has defined the hiring market for the past three years, the travel and hospitality industry saw some of the biggest impacts worldwide, and the reverberations and recovery are still shaping the industry years later.

While many industries have recovered the jobs lost in 2020, hospitality lags behind. While people are traveling again, the industry faces a new set of talent challenges, from a talent exodus to shifting traveler expectations. Now, employers have the opportunity to reshape their talent programs for the world of travel.

In this handbook, you’ll learn:

  • Global trends driving the need for travel and hospitality talent
  • Strategies for overcoming challenges in your travel and hospitality hiring programs
  • How partnering with an RPO provider can help

ESG and Life Science Recruitment: Why ESG Initiatives Will Make Your Competition Green With Envy  

Posted on by banderson

A plethora of social, economic and environmental impacts are contributing to the emerging global “polycrisis.” Beyond the pandemic, the future impacts of climate change, biodiversity loss, pollution and overexertion of natural resources will affect global health in the long term. This will impact the work of life science organizations as climate change is increasingly linked to diseases like cancer, diabetes and heart disease. Plus, the life science industry is among the largest carbon emitters, with biotech and pharma as the leading contributors. It’s no surprise that life science companies are focusing on Environmental, Social and Governance (ESG) initiatives. For talent acquisition leaders, this poses unique challenges and opportunities when it comes to life science recruitment. 

In this article, we review the industry’s impacts on the environment, how those impacts affect life science recruitment, and how a green EVP and employer brand can be leveraged as a critical differentiator in your ability to attract talent.  

Life Science’s Impacts on the Environment 

The average carbon footprint of one life scientist ranges from an estimate of four to 15 tons of CO2 per year. This doesn’t even include the use of consumables, chemicals, production resources, equipment, transportation, energy, and construction and building maintenance materials. There’s no denying that the entire industry’s workforce footprint is quite significant. 

Moreover, pharmaceutical production is highly water-intense, and waste is poorly managed with only nine out of 118 pharmaceuticals removing their waste sustainably during the treatment process. Approximately 4,000 active pharmaceutical ingredients (APIs) are administered worldwide in prescription and over-the-counter medication as well as therapeutic and veterinary drugs. Residues from these drugs are released into the environment, contaminating the soil, rivers and lakes. With drug waste polluting the environment, the Global Leaders Group has created a call to action for all countries to improve measures for the management and disposal of antimicrobial-containing waste, declaring it as a “major threat to public health.” 

Four out of the top five (80%) global risks forecasted for the next decade are related to global health and climate change. The opportunities created by the industry to improve their environmental impact through ESG initiatives are huge.  

(Source: World Economic Forum, The Global Risks Report 2023) 

Gen Z and Millennials Care About ESG Initiatives

By 2029, Gen Z and millennials will account for 72% of the world’s workforce. This workforce has placed greater importance on ESG issues than previous generations. Considering the industry’s impact on the environment and the global force of this growing talent, millennials and Gen Z will keep the life science industry on its toes. To stay on top, it’s crucial that life science recruitment teams and hiring managers understand what this workforce wants, what they value and how these components contribute to their employment decisions. 

Around the world, young scientists are demanding that “climate justice” be at the top of the global agenda, with environmentalists stressing the need for organizations to radically reduce their carbon emissions. They are tired of politics influencing scientific decisions, slow global engagement and action, and “poor public communication concerning the state of our understanding of climate change.” 

As this talent seeks purpose in their careers, they prefer to work for employers that have set actionable ESG initiatives towards improving their sustainability efforts. Organizations with ESG practices and policies show top talent that they are purpose-driven and progressive, which is a top consideration for this younger STEM-based workforce when applying and working for your company.  

According to a study by Swytch, nearly 70% of Gen Z and millennial respondents say that a strong sustainability plan would affect their decision to stay with a company long term. About 30% of respondents report that they have left a company due to its lack of a corporate sustainability agenda with over 11% doing so more than once. Additionally, a 2023 report by KPMG UK showed that ESG initiatives are influencing employment decisions for almost 50% of UK employees, with millennials and younger workers driving the growing trend of “climate quitting” in search of more environmentally friendly jobs. 

Employers must understand that candidate attraction is more than high salaries and fancy titles. This workforce wants leaders to fearlessly and publicly take a stance on their ESG initiatives and to make it a part of the workplace culture. Failure to do so will make it difficult to attain top talent, further adding to current life science recruitment challenges due to workforce shortages and widening skills gaps. 

Intertwining Your ESG Initiatives into Your EVP and Employer Brand Strategy

With no time to waste, life science organizations need to invest in a “green” employer value proposition (EVP) and employer brand strategy.  

“Today’s labor market wants to join companies that make a difference in a real way.”

Cynthia Burkhardt, Global Head of Talent Acquisition, Kimberly-Clark 

With Gen Z and millennials viewing social and environmental responsibilities as a key differentiator when considering where to work, it’s no surprise that an employer’s ESG initiatives have become a crucial component of the life science recruitment process. Whether your organization is already incorporating sustainable practices into your operations and mitigating risks to climate change or planning to do so, this is the opportunity to showcase that. Here are steps you can take that will appeal to your current and future workforce: 

1. Define Your ESG Voice 

Sustainability buzzwords are not enough, and top talent isn’t buying it. In fact, the European Commission’s National & Consumer Protection survey found that more than 42% of online corporate “green” claims were exaggerated, false or misleading. With “greenwashing” or “green-laundering” on the rise, employers need to establish ways to gain the trust of Gen Z and millennials. Your voice must showcase your purpose and intent. For example, using keywords like “zero discharge” and “risk mitigation,” rather than vague and misleading terminology such as “eco-friendly” or “sustainable,” will have candidates viewing you as more honest and authentic than the competition. 

“Sustainability plays a big role for me. An employer that is supposedly committed to it, but hardly knows what to do with the topic behind the scenes, has no future for me.”

—Gen Z respondent from Austria 

2. Communicate Your Mission 

Build your internal and external employer brand messaging around the organization’s ESG initiatives such as corporate sustainability efforts and climate change initiatives. Keep in mind that the internal launch of an EVP and employer branding platform plays a critical part in laying the foundation for the success of the external launch. Bring your EVP to life through transparency and stakeholder alignment. Your employer brand message must be aspirational, future-focused and agile enough to sustain any changes that may come.  

3. Weave ESG Initiatives into Your Life Science Recruitment Marketing Materials 

Incorporate your ESG-centric mission and values into your career site and explain how those objectives are part of the organization’s DNA. On social media and other attraction channels, feature content that is relevant to topics like green training and development, environmental advocacy, waste minimization and corporate reduction of CO2 emissions to attract a wider variety of STEM-related talent. 

4. Showcase Your Investment and Metrics 

Remember that acting on your ESG initiatives is more than providing donations or partaking in “volunteer hours” that gain you a gold star. Let candidates know how much landfill waste you’ve reduced through your recycling program or that you’ve reduced your carbon footprint by 10%. Organizations that actively monitor their social and environmental impacts yield greater candidate attraction and positive impacts to their triple bottom line.  

5. Highlight Employee and Leadership Involvement 

Leverage your employees’ passions, concerns and ideas as a compelling way to address the organization’s initiatives. You can take the output from this to generate recruitment marketing materials, such as employee testimonials, quotes and even videos of leadership involvement or team building initiatives. For candidates, this effort exemplifies a company culture that genuinely wants to make an impact.  

6. Green Up the Candidate Experience 

Alignment of values is top priority for today’s candidates. However, it can be difficult for them to determine if a potential employer’s ethics align with theirs. To improve candidate experience, incorporate ESG initiatives into your job descriptions. For example, call attention to how the role will help achieve sustainability initiatives and feature any employee green benefits like locally sourced perks or green travel packages.  

Most importantly, make sure your recruiters and hiring team are aware of your green values. According to HRD Australia, often times the hiring team is not well-informed on what the company is doing in these areas. A life science recruitment team that is aligned with the organization’s ESG initiatives will ensure smooth communication and a good first impression with potential candidates. 

Can You Keep Up? 

With Gen Z and millennials shaping the future of work, employers cannot afford to trail behind the curve when it comes to ESG. Additionally, as early-career candidates and graduates are a top source for talent in the life science industry, organizations that do not have visible and measurable ESG metrics risk alienating this top talent. Focus on incorporating your ESG initiatives into your organization’s EVP, tweak your employer brand messaging to reflect what your workforce wants.

The Recruitment Handbook for Pharmaceuticals & Life Science

Posted on by banderson

The Recruitment Handbook for Pharmaceuticals & Life Science

From increased adoption of technology in scientific research to the growing demand for innovation in pharmaceuticals and medical diagnostics, the global life science industry is changing rapidly, requiring recruitment teams to be agile to meet demand.  

With 87% of life science executives indicating that they’re experiencing skill gaps and expect to experience more within a few years, life science organizations must invest in better talent acquisition strategies to future-proof their workforce. 

In this ebook, we explore leading industry developments that are transforming the life science workforce: 

  • How demand for tech talent is reshaping the industry 
  • How innovation in medical research and patient care are creating skills gaps 
  • How the global push for sustainability and climate change initiatives is impacting the workforce 

Plus, learn how an RPO partner can help your life science organization rethink and remodel current recruitment strategies to overcome talent acquisition challenges.  

Breaking DE&I Barriers in Life Science: Tips to Build & Recruit a Diverse Workforce

Posted on by banderson

Over 20 years ago, the U.S. Congress passed the Minority Health and Health Disparities Research and Education Act, or the Healthcare Fairness Act, to address national issues such as the increasing need for a diverse workforce. With focus on the life sciences, it stated, “There is a national need for minority scientists in the fields of biomedical, clinical, behavioral, and health services research.” Yet, underrepresented populations are still the largest “untapped STEM talent pools in the United States.” 

Black and Hispanic individuals remain underrepresented in the science, technology, engineering and math (STEM) workforce. Plus, women remain underrepresented in fields like physical sciences, computing and engineering. Moreover, organizations in Europe are struggling to find and retain women in STEM. According to Eurostat, female scientists and engineers remain a minority in STEM roles, and despite increases over the past decade, women still make up only 16.5% of engineers in the UK. 

For life science organizations, the lack of minorities and women in STEM fields and the sector overall will present long-term challenges in cultivating a workforce that will help them remain competitive in our increasingly diverse and interconnected world. 

However, it seems there hasn’t been much progress made in the 20+ years since the Healthcare Fairness Act. So, how can life science organizations make a difference in creating more diversity in life science careers? Keep reading to learn more about the DE&I challenges and opportunities for life science employers. 

Life Science’s Lack of a Diverse Workforce

Diversity is lacking across the entire life science industry, from research to clinical work. According to the U.S. National Science Foundation, the representation of minority ethnic groups in the science fields must more than double to match the groups’ overall share of the U.S. population. In fact, 65% of the U.S. workforce in life science are white, 19% are Asian, 8% are Hispanic and only 6% are Black. 

Diversity in Life Science
Source: Pew Research Center

Being a future-focused employer requires investment in building diverse and inclusive teams. Bringing underrepresented groups into your organization provides a full range of benefits and skills to drive innovation. The issue is particularly pressing as the industry undergoes a wave of transformation due to the disruption of tech—further widening the current skills gap.  

Additionally, diversity in leadership will help you boost retention and attract talent. With 85% of life science employees who identify as a minority saying they are ‘hugely underrepresented’ in senior roles, the lack of diverse leadership representation could be detrimental to your organization. It could affect your bottom line and further hinder your ability to attain those highly competitive, in-demand skills (like data analytics and computer programming) needed within the industry.  

Diversity in Life Science

Furthermore,  Informa Connect conducted one of the largest industry employee research reports to date, which surveyed life science professionals around the world about their opinions on diversity and inclusion in the industry. When asked what the industry’s biggest problem is pertaining to having an inclusive and diverse workforce, over a third of respondents named the lack of representation of minorities in leadership roles. 

Diverse workforce
Source: Informa Connect

Gender Inequality in Life Science

Due to the lack of women in STEM careers, life science employers struggle to attract women to R&D roles. According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), 70% of global researchers are men. This creates problems for life science employers as both female life science professionals (65%) and male professionals (59%) believe women are under-represented overall. It doesn’t help that, although women make up almost half (48%) of life science workers, men still out-earn women by 13%.

Diversity in Life Science

Why is Diversity in Life Science so Important? 

Although there are clear disparities around representation of minorities and women in life science, only 23% of organizations are giving significant focus to DE&I and only 13% are financially investing in diverse groups.  Organizations that aren’t prioritizing DE&I will struggle to cope with the industry’s current talent shortage. The lack of diversity puts organizations at a competitive disadvantage when it comes to attracting and retaining top talent. 

In our recent research report, candidates say that a diverse workforce is an important factor when evaluating companies and job offers. This is even more important for candidates from underrepresented groups. In Biospace’s latest report, 93% of women of color responded that they believe diversity is important when considering a job. Investing in DE&I-focused talent acquisition strategies, programs and training creates a huge opportunity for life science organizations to grow a diverse and productive workforce. 

A diverse and inclusive work environment builds trust, increases engagement and improves business outcomes.  

Organizations with strong “diversity climates” have increased employee job satisfaction and employee retention as well as financial returns above national industry medians. Companies with above-average diversity scores report nearly 20% higher revenue due to innovation.  

Moreover, diversity provides many benefits for improved organizational performance and productivity such as:  

  • Broader range of skills and experience  
  • Multilingualism to support global growth 
  • Increased cultural competence and awareness 

Diverse workforces, including cognitively diverse teams, leverage a greater variety of perspectives to solve problems faster with improved accuracy. According to the International Labor Organization, when companies establish inclusive business cultures and policies, they experience a nearly 60% increase in creativity, innovation and openness. 

For example, the majority of the western world’s research uses tissue and blood from white individuals to screen drugs and therapies that are developed for a more diverse population. However, different ethnic groups experience different outcomes from various treatments, methods and diseases. A diverse workforce, especially in biomedical science and pharmaceuticals, would more likely push for inclusion in research and testing and provide different perspectives that could lead to new insights and discoveries. 

Strategies for Attracting, Recruiting and Retaining a Diverse Workforce in Life Science 

Creating a diverse and inclusive work environment can be challenging, but here are some proven steps for attracting top diverse talent and establishing equitable recruitment practices. 

1. Focus on Employer Branding  

Show diversity as part of your organization’s DNA by articulating a compelling EVP and employer brand that clearly defines and establishes your organizational commitment to DE&I. Building your internal and external employer brand messaging gives you greater influence over what you are known for, how you are perceived by candidates and the value that you offer to your employees. Make sure your recruitment marketing materials are relevant to a variety of audiences with imagery and content that highlights diversity in race, gender and more. Plus, showcasing real employees adds a layer of authenticity to your employer brand.  

2. Update Your Career Site 

After viewing a job post, a candidate’s first point of contact is usually your career site. It’s crucial that your career site shows your DE&I efforts. Sharing diversity goals publicly and transparently is an important way for candidates to experience your organizational values and mission.  

3. Keep Job Listings Simple  

Plain language is especially important if you want to reach diverse populations. Use verbiage that your candidate would use rather than your internal terminology and assess your job ads for biased language. Avoid verbiage like “expert,” “rockstar” or “like a family” that are often masculine and project a homogeneous work culture that prioritizes like-minded thinking over diversity. Additionally, remove any experience or skills that are “nice-to-have” in your job descriptions, and keep in mind that men and women value different things. For example, while men usually prioritize compensation, most women see work-life balance as their number one priority. 

4. Go Beyond Your Careers Site 

Elevate your sourcing strategy by:  

  • Optimizing your reach by posting on relevant job boards and platforms. Don’t forget that professional networking groups, like the Black Healthcare and Medical Association, are great resources to get your job ads in front of the right people.  
  • Establish relationships with STEM-based programs at universities, alumni associations and other networking groups that cater to diverse populations. 
  • Get your internal teams involved by asking for referrals. Diverse employees are often connected with diverse candidates. 

In doing so, you cast a wider net to reach a larger pool of diverse candidates, maximizing your chances of growing your workforce. 

5. Representation Matters 

During the interview stage, make sure candidates see how much you value diversity by having a diverse panel of interviewers. When a candidate sees someone who looks like themselves or another minority when being interviewed, it creates a sense of belonging and reaffirms your company’s mission to establish a diverse culture. Additionally, make sure your hiring panel has received diversity training and can successfully communicate with those that think differently and have unique backgrounds or working styles. 

6. Invest in Diversity Training 

Through diversity training, you can help change systematic diversity hurdles—such as your organization’s hiring practices and how diverse talent is sourced as well as taking action to increase diversity at the board or leadership level.  

“Companies need to acknowledge the unique needs and contributions of employees with multiple historically excluded identities.”

Yaro Fong-Olivare, Executive director of Bentley University’s Center for Women and Business (CWB)

Diversity training programs are not a one-size-fits-all solution and come in various training types, which can be customized to help achieve your organization’s goals. Diversity training helps employees feel a sense of belonging, so they are more likely to stay with an organization, which can improve your retention rates. 

7. Enable Talent Acquisition Technology and Track Your Efforts 

To build a diverse candidate pipeline, it’s critical that you engage cutting-edge technology and analytics tools to know where your diverse candidates are coming from, how they’re progressing through the recruitment process, and which of your sourcing channels or campaigns brought them to you. Although these insights are often stored in different systems and platforms, a comprehensive reporting tool can help synthesize your data and visualize trends.  

For example, PeopleScout’s Affinix™ brings together applicant tracking systems (ATS), candidate relationship management (CRM) systems, artificial intelligence, machine learning, digital marketing, predictive analytics and digital interviewing to provide award winning innovation to support your organization’s diverse hiring goals. Affinix Analytics’ diversity dashboards show how diverse candidates are entering your pipeline in real time. By tracking how candidates progress through your funnel, you can determine which resources and campaigns bring in top candidates from underrepresented groups. From there, you can analyze the results, identify hiring trends, adjust sourcing spend and strategy to make data-driven decisions. 

Conclusion 

Building an inclusive and diverse workforce doesn’t start and end with just hiring underrepresented groups, it requires an entire organizational shift. In order for the life sciences industry to maintain leadership and competitiveness in science and medical advancement, it’s crucial that organizations invest in building a strong and diverse talent pipeline. Everyone from the C-Suite to hiring managers has an important part to play in achieving DE&I goals and shrinking the industry’s growing workforce gaps.

Tech & Digital Skills: 5 Recruitment Strategies for Closing the Skills Gap

Posted on by akessler

There are a host of new and emerging tech disciplines—the metaverse, blockchain, generative AI, cybersecurity and more—that are changing the way we work and the kind of work we do. Many jobs that were previously done by humans are now done by machines. Many new jobs are emerging that require new and changing skill sets and organizations are struggling to find the talent they need to keep up as tech and digital skills gap grows.  

According to World Economic Forum, it is estimated that by 2030, “approximately 85 million jobs could go unfilled globally because of a lack of applicants with the skills to take them, which could result in $8.5 trillion (USD) in unrealized annual revenues.” 

Skills Shortage: Digital Age or Digital Deficiency? 

Salesforce’s 2022 Global Digital Skills Index surveyed 23,000+ workers across 19 countries and found the global digital skills readiness score is just 33 out of 100. No wonder that 64% of managers don’t think their employees are able to keep pace with future skill needs. Furthermore, 70% of employees say they haven’t even mastered the skills they need for their jobs today. Plus, a third (36%) of HR leaders say their sourcing strategies are insufficient for finding the skills they need. 

As organizations try to reinvent their business models to keep up with change, employers of all stripes—regardless of sector—must prepare their workforce for digital-first employment. By taking a skills-based approach to your talent acquisition strategy, you can move beyond your tired methods to find people with the right skills and competencies regardless of their degree or job history.  

Recruitment Handbook for Hiring Tech & Digital Talent

Download Now

Measuring the Technology Skills Gap 

As an HR or TA leader, you’re probably asking, “Which digital and tech skills should I prioritize?” 

Well, it depends. 

To plan for the skills of the future, you must know where you are today. Conduct a skills inventory of current employees, regardless of department. Then, run a technology skills gap analysis, looking at what’s available now and what you’ll need in the future based on your organizational strategy.  

This, combined with external labor market data on the availability of tech and digital skills, you’ll be able to understand which critical skills gaps are in place today, what skills are available in the market and what skills you’ll have to develop internally. 

5 Skills-Based Talent Acquisition Strategies for Tech and Digital Talent 

Here are five strategies for closing the skills gap for your tech and digital roles. 

1. Assess for Adjacent Skills 

A crucial part of your skill inventory must be identifying skills adjacent to your critical skills which can be developed to bridge the gap. With the right capability and skills taxonomy in place—both for internal mobility and external hiring—you can tap talent with related skills to fill talent gaps through recruitment and upskilling.  

PeopleScout recently facilitated a reskilling project for a leading bank in the UK. We supported an evaluation of their customer service employees in call centers and bank branches to identify hidden skills. We evaluated hundreds of employees, surfacing many with complementary skills who are now involved in a development program to supply software engineering talent in the future.  

2. Don’t Overlook Candidates with Non-Traditional Backgrounds 

Identifying these complementary skill sets has the additional benefit of helping you surface non-traditional internal and external talent pools. These are candidates who possess the skills necessary to perform a role’s duties but may never have held a position with a tech or digital specific title. By taking a skill-based approach to tech and digital talent acquisition, you don’t limit yourself to a small talent pool with hard-to-find experience. This could also mean relaxing requirements around university degrees. Plus, it’s a great way to achieve diversity and social-mobility goals. 

technology skills gap

3. Develop Upskilling Opportunities 

Once you’ve found talent with adjacent skills, you’ll need an upskilling program to get them up-to-speed on their target role and for ongoing development of skills as new technology emerges. Learning and development programs are a great way to support cross-functional talent mobility. Plus, it can act as a big draw for recruitment, as more and more candidates say they value growth opportunities when considering a new job. According to the LinkedIn’s Future of Recruiting report, Advancement and Skills Development are in the top five most important priorities for candidates.  

4. Embrace Global Expansion  

With the explosion of remote work, organizations can widen their talent search beyond their office locations. By shifting your focus to talent location and skill set, rather than your business footprint, you benefit from a more diverse talent pool. Leverage labor market data to find emerging tech hubs where demand is still low. For example, several cities in Latin America have a growing supply of digital skills with moderate salary expectations. 

5. Look Outside the IT Department for Tech & Digital Skills

Technology advancement means departments across the organization—and across sectors—have become breeding grounds for addressing the IT skills shortage. In fact, according to Gartner, almost 40% of job postings for talent with digital skills come from outside of IT departments. The explosion of FinTech, MarTech and even HRIS means that there’s a plethora of digital talent in finance teams, marketing teams and HR teams. So, instead of looking for a data scientist, why not try tapping a financial analyst to get those much-needed analytical skills? 

How an RPO Partner Can Help You Secure Tech and Digital Skills 

Employers looking to grow their tech and digital workforce can benefit from the services of a recruitment process outsourcing (RPO) provider. Your RPO partner can help you adapt your attraction strategy to resonate with candidates with tech and digital skills, ensuring that you are sourcing talent with the required skills and identifying new ways to target candidates who fit these personas. Plus, an experienced RPO provider can assist you in building your talent pool from within your own organization, by consulting to develop an internal reskilling program. 

Get five proven strategies to attract, engage and hire the best tech professionals. Download our Recruitment Handbook for Hiring Tech & Digital Talent. 

The Recruitment Handbook for Hiring Tech & Digital Talent

Posted on by akessler

The Recruitment Handbook for Hiring Tech & Digital Talent

5 Strategies for Recruiting the Best Tech Talent Now and into the Future 

Today, every company is a tech company as organizations across sectors create digital customer experiences, embrace automation and AI, and analyze the data created through these platforms. In fact, 6 out of 10 of the most in–demand skills are tech-related.

However, according to Gartner, a third (36%) of HR leaders say their sourcing strategies are insufficient for finding the skills they need. So, how can talent acquisition leaders keep up with the demand for tech and digital talent?

In this handbook, you’ll learn:

  • Global trends driving the need for tech talent
  • Strategies for overcoming challenges in your tech hiring programs
  • How partnering with an RPO provider can help

 

PeopleScout Jobs Report Analysis—May 2023

Posted on by nfuqua

U.S. employers added 339,000 jobs in May, beating economist expectations. This shows that the labor market is remaining strong, despite rising interest rates. The unemployment rate rose to 3.7%. Year-over-year wage growth fell slightly to 4.3%.

The Numbers

339,000: Employers added 339,000 jobs to the U.S. economy in May.

3.7%: The unemployment rate rose to 3.7%

4.3%: Wages rose 4.3% over the past year.

The Good

The 339,000 jobs added in May point to a strong economy that is continuing to defy expectations, as the Wall Street Journal reports. May’s gains were widespread, with some of the strongest growth in education and health services and professional and business services. Even the construction sector, which is one of the most affected by rising interest rates, added 25,000 jobs.

Wage growth also softened slightly in May, which is good news for employers, and a sign that the Federal Reserve’s practice of lowering interest rates may be working. Slowing wage growth should decrease inflation.

The Bad

Underneath the strong headline of May’s report, there are some signs that U.S. job growth could start to slow. As the New York Times reports, the unemployment rate rose to the highest level since October. Additionally, the average number of hours worked decreased slightly, falling to prepandemic levels. Experts say if that number continues to fall, it could be a sign that the market is cooling.

The Unknown

The Federal Reserve meets next on June 13-14, and as MarketWatch reports, they are expected to avoid raising interest rates again. Experts say if the Fed raises rates too quickly and aggressively, they risk causing a recession, and Fed Chair Jerome Powell has said that skipping a rate increase in June could give them more time to study the impacts of past raises. However, with the continued strength in jobs numbers, the Fed may continue to raise rates later in the year.

The Multigenerational Workforce: Gen Z in the Workplace

Posted on by akessler

To continue our series, The Multigenerational Workforce, this article explores the challenges and opportunities of Gen Z in the workplace. For the first time in modern history, four generations are working side-by-side: Baby Boomers, Gen X, Millennials and Gen Z. The ratios will change over the coming years—and so will each group’s level of influence.  

Gen Z is overtaking Baby Boomers as the largest generation history, boasting an incredible two billion people globally, and is set to become the largest demographic in the workplace by the end of the decade. Leaders must not underestimate the impact this generation’s ideas and perspective will have on the world and the workplace. By understanding their needs and preferences, you can attract, engage and hire the best Gen Z talent to propel your workforce into the future. 

Who is Gen Z? 

While sources vary, Gen Z is generally defined as the generation born approximately between 1995 and 2010. They are the first generation to grow up with the internet and social media and have come of age in a time marked by 9/11, polarized politics, economic fluctuations and climate woes. They watched their parents lose jobs during the Great Recession. Then, they experienced the biggest educational and workplace disruption in modern history as COVID-19 lockdowns led to their classes moving online, a surge in unemployment and psychological distress.  

As voracious consumers and creators of digital media, they focus on curating their online presence and have developed an “unapologetically me” ideology. As a result, they are generally socially progressive and value diversity.  

Perhaps ironically, growing up in this hyperconnected online world has also fueled feelings of isolation and loneliness among many Gen Z-ers. Seeing friends posting content and having fun (cue the #FOMO), alongside the pressure to keep on top of social trends, can make the feelings of disconnection even more acute, leading to increases in depression and anxiety.

Gen Z in the workplace

What Matters to Gen Z in the Workplace? 

Gen Z-ers have different expectations and priorities than previous generations of workers. They’ve expressed less loyalty than past cohorts and are more pragmatic. They don’t assume they’ll have a social safety net upon retirement since seeing layoffs and pensions shrinking.  

Here are some more characteristics to look out for when hiring Gen Z candidates. 

Fighting for Social Change  

After witnessing the #MeToo and Black Lives Matter movements as well as the increased frequency of natural disasters due to climate change, Gen Z is seeking employment that matches their personal values. They believe in their ability to make a difference individually and are also demanding that employers do their part to help build a better future.  

LinkedIn released a global study of nearly 10,000 professionals which found that 68% of workers in the UK, France, Germany and Ireland consider it important to work for companies that are aligned with their values. In the U.S., it’s higher at 87%. Gen Z is driving this shift, with nearly 90% in Europe saying they would leave a job to work somewhere that better matches their values.  

Digitally Native but Digitally Unsure 

Growing up with access to the internet and mobile devices has led to a widespread presumption that Gen Z-ers are innately good with tech. However, new research shows this may not be the case at work.  

One in five of the 18-to-29-year-olds polled in HP’s Hybrid Work: Are We There Yet? report said they felt judged when experiencing technical issues in the workplace. Furthermore, this “tech shame” leads 25% of young professionals to actively avoid participating in a meeting if they think it will expose their tech shortcomings.  

Generation Disenchanted? 

Much has been said about the number of older workers taking early retirement, but the biggest rise in inactivity since the pandemic has not been among Baby Boomers, but workers aged between 18 and 24. In the UK, the share of workers in this age group classed as economically inactive—meaning they’re not actively working or looking for a job—stood at a record high of 32% in the second quarter of 2022. Plus, of those who are students or currently unemployed, 1 in 10 said they never intend to start working.  

In a rejection of the “girlboss” and “hustle culture”, the hashtag #IDontDreamOfLabor has taken off as a platform for Gen Z to speak candidly about their rejection of work as the basis for identity, framing it instead as a financial necessity for paying the bills. In the shadow of the Great Resignation, Gen Z is vocal about the role of work in their lives—sometimes to viral acclaim. Some have taken to TikTok to coach their peers on how to negotiate salaries, which red flags to look out for in the interview process and how to stick up for what they want at work.  

The formative experience of the Great Recession combined with entering the workforce during the pandemic has taught young people that hard work doesn’t necessarily guarantee stability. They want better than what their parents had and aren’t shy about demanding more from their employers. Organizations who can navigate these expectations will win the hearts of Generation Z. 

Gen Z at work

Strategies for Engaging Gen Z at Work

To help Gen Z workers become as productive and successful as possible, employers need to showcase their values and offer a combination of ongoing wellbeing support and robust skills training.  

1. Evaluate Your Employer Brand for Gen Z 

As most young people seeking employment with a company they can believe in, it’s important to build an employer brand that resonates with Gen Z values. In the recent global study, Inside the Candidate Experience, PeopleScout found that the top things Gen Z job seekers look for when evaluating a job are: 

  1. Mission and purpose 
  1. Flexible working and work/life balance 
  1. DE&I; Company culture (tied) 

With mission and purpose as the top factor for Gen Z job seekers, it’s surprising how few organizations include this information on their career websites. On the sites we examined, we found an organization’s mission and purpose less than half (48%) of the time. This means that half of companies are passing up an opportunity to engage emotionally with their young talent audiences and assist prospects in understanding how the job they have applied for fits into that goal. Candidates won’t look at your open roles if they can’t identify your mission on your careers site. 

2. Embrace Social Media  

Despite concern over how much Gen Z-ers use and consume social media, it is their main way of staying connected, so it is imperative for employers to have a strong presence on social. Two-thirds of candidates use social media to research companies during their job search. Yet, a third of employers are not posting career related content (above and beyond job listings) to their social channels at least once a week.  

Favorite social platforms for Gen Z include TikTok, Instagram and YouTube—so consider creating video content to engage talent from this generation. “Day in the life” videos are a great way to provide a realistic job preview and show early careers talent what it’s like to work at your organization. 

3. Showcase Your DE&I Efforts 

Diversity, equity and inclusion (DE&I) is a top consideration for Gen Z candidates when looking for a job, and they’ll be scrutinizing any employer to separate lip service from authentic DE&I action. When candidates from underrepresented groups are searching for jobs, the right job title might be enough to get them to click on a posting—but whether they actually apply is influenced by what they read and hear about how an organization treats its people.  

Representation matters, and employers who showcase employees across a range of demographics show candidates that people from diverse backgrounds can flourish at their organization. Ensure your recruitment communications include voices and stories from underrepresented groups at all levels of the organization.  

Employers should also strive for transparency with their diversity recruitment data and share any plans they have in place to shift the dial around representation. Then, when candidates from underrepresented groups encounter similar voices throughout the recruitment process, they’ll realize that not only are they welcome at the organization, but they’ll also have the opportunity to thrive and progress.  

4. Offer Employee Mental Wellness Benefits 

Growing up entirely in the digital age has undeniably had an impact on how this generation interacts with others. With fewer in-person exchanges, some 37% of Gen Z feels worried that technology weakens their ability to maintain strong interpersonal relationships and develop people skills. Living in a world of non-stop communication through apps and social media also contributes to mental health conditions like anxiety. The strain of modern living on mental health has been further exacerbated by the pandemic and lockdown life. 

Gen Z-ers are proud advocates for mental health, sharing their experiences and removing the stigma around depression and anxiety. According to Cigna International Health’s 2023 survey of almost 12,000 workers around the world, 91% of 18-to-24-year-olds report being stressed. And they’re looking for support from their employer. A whopping 92% of university students say employers should offer mental well-being benefits, and more than a third (36%) are prioritizing those who do as they start their careers. 

Employee assistance programs, employee resource groups and workplace mental health training are all ways employers are creating a culture that promotes mental health and wellbeing. Gen Z will be drawn to employers who are joining the conversation around mental health and creating a safe space to raise and address these issues. 

5. Highlight Growth Opportunities for Gen Z

Worryingly, 37% of young people say their education did not adequately prepare them with the technology skills they need for their career. This digital native generation is lacking in the digital literacy most organizations need to fuel future innovation.  

Gen Z is prioritizing employers who demonstrate investment in developing their employees’ skills and career paths. Employers who highlight training, mentoring and professional development programs in their recruitment materials will satisfy Gen Z’s ambition and desire to grow.  

Training for new Gen Z joiners should center around soft skills like resilience, relationship building and empathy, enabling people from this cohort to manage their own stress levels effectively and to understand when and how they should ask for help. Face-to-face support and mentoring programs are a core elements of training for Gen Z in the workplace. Mentoring and reverse mentoring are being widely embraced by organizations across industries, enabling more senior employees to share their experience with the younger generation to counteract skills gaps, while also tapping into the knowledge and insights of Gen Z in the areas of social trends and digital media.  

Gen Z in the Workplace: Embracing Positive Change 

As organizations plan for the future of work, they must work harder to appeal to the savvy Generation Z-ers entering the workforce. While most employers understand the importance of inclusivity and ethical decision-making, this generation will hold them accountable to putting those principles into action. Employers must embrace these values and the positive changes brought by Gen Z in the workplace. Talent acquisition leaders should keep their finger on the pulse of how these young workers will shape how we hire and develop talent in the coming decades. 

Check out our report to learn more about the future of work:

Future of Work

DESTINATION 2030: 10 PREDICTIONS FOR WHAT’S NEXT IN THE WORLD OF WORK

Read the Full Report

PeopleScout Jobs Report Analysis—April 2023

Posted on by nfuqua

U.S. employers added 253,000 jobs in April, beating economist predictions. This shows that the labor market is remaining strong, despite rising interest rates. The unemployment rate fell slightly to 3.4%. Year-over-year wage growth rose to 4.4%.

jobs report infographic

The Numbers

253,000: U.S. employers added 253,000 jobs in April.

3.4%: The unemployment rate fell to 3.4%.

4.4%: Wages rose 4.4% over the past year.

The Good

April’s jobs numbers were stronger than economists expected and show that the labor market is not slowing down. Unlike last month, where leisure and hospitality led job growth, the most recent gains were spread across industries, with education and health services showing the strongest growth. The unemployment rate is also at historic lows. As the New York Times reports, the unemployment rates for some minority groups have also hit record lows. Black Americans have an unemployment rate of 4.7%.

The Bad

Wages growth continues to remain high. While we have seen some pockets of softening, year-over-year wage growth rose again in April, back to 4.4%. High wage growth contributes to inflation, and as CNBC reports, the Federal Reserve is looking for year-over-year wage growth to hit 3%. Wage growth hasn’t fallen than low since spring of 2021.

The Unknown

April’s jobs report doesn’t provide a clear indication of what the Federal Reserve will do at its next meeting. The Fed just raised its key short-term interest rate for the tenth time, as MarketWatch reports. Despite that, Chairman Jerome Powell suggested they could pause further rate hikes to see how inflation and the economy respond to the sharp increase in borrowing costs over the past year. Powell indicated the recent rate hikes have had an impact on families, but there is still a lot of work to do to get inflation down to 2%. The Fed meets June 13-14, so next month’s report could provide some clarity.