A recap and outlook
Our future hiring trends
Our comments on how the process of hiring has entirely changed
9/23/20
How the Covid-19 pandemic has changed hiring
2020 has thus far been a year full of change. It has also brought along an uncertainty that has completely shaken up markets. The impact of the Covid pandemic on our lives is still far-reaching and unpredictable.
As Pickvogel specializes on matchings between employees and employers, we reflect on the state of the HR industry on a daily basis and are here to share our thoughts with you.
This year, many companies have been forced to adapt quickly to new work and operating methods. In regards to hiring, some companies chose to freeze recruitment, while others implemented short-term recruitment activities, and even others started recruiting even more. These different decisions originate in different budgets, different strategies and different industries.
What these companies all have in common: this pandemic is continuing to change the way we operate and brings along new hiring and work trends.
Let us elaborate on a few hiring trends for the future:
1) Remote working is here to stay
This year's events have been forcing companies to invest in remote infrastructure. Positive side effect: employees have shown that with the right structure, they can be as effective as they are present at the office. Feedback from employees and employers has shown that productivity has improved (or at least remained the same) since moving to remote work in early 2020.
Remote working has also proven that location should not hinder recruitment of the most suitable candidates for the job. The talent pool has thus strikingly grown, making a geographically distant candidate a possibly valuable asset to a company when granting him/her remote working possibilities.
On the other hand, interaction among colleagues is also important for establishing an authentic corporate culture. It’s always about that healthy mix. A major challenge will be the reintroduction of face-to-face work, but one thing is for certain: remote work is not only a trend, but will continue to exist in the future.
2) Video interviews are the new normal.
What is the starting point for “remote working”? Exactly. That’s “remote hiring”. Video interviews, but also video meetings and video calls in general, have become a necessity with the long-lasting pandemic. What at first seemed like an awkward transitional solution for many candidates and companies, has now consolidated itself as the new normal. Employees and employers save time and travel costs to physical locations for interviews. The challenging aspect of reading each others social skills remains, but has the positive side effect of making actual hard skills needed for the position even more important.
3) Creating an employer brand that promises diversity, equality and inclusion (DE&I)
As competition for excellent talent intensifies, candidates have made company reputation a driving factor when choosing their new employer.
Several events in 2020 have provided us with new impetus, such as the "Black Lives Matter" movement and an awareness for respectful cooperation among all communities. Now companies are making more of an effort to pay attention to these movements, and are seeking tools (more actively than ever) to help them hire equitably: From eliminating bias in the recruitment process to establishing a system that promotes and develops all employees in a fair manner.
Diversity, equality and inclusion at the workplace will therefore be decisive factors in recruitment decisions of candidates and employers. Why? Because applicants are on the look-out for clear evidence of a company's commitment to diversity in the application process, in its recruitment team, its leadership, and in the overall structure of the company.
Especially the next generation, composed of millennials and Generation Z talent, state the importance of DE&I when evaluating and choosing their next job. Companies need to guarantee that their brand consciously communicates diversity and an inclusive culture.
4) 2021 will be the year of "lots of hires"
The COVID pandemic has also been a driving factor for unemployment, confronting us with a new scenario once the pandemic is under control: choosing the right employees from the countless profiles hunting for a job. In many regions, the current unemployment rate is more than twice what it was before the pandemic, so companies need to be prepared to find and establish connections with the right talent among countless profiles.
Coupled with a reduction in the number of recruiters, this has put more pressure on teams that have been striving for excellence. Companies now have to ensure that their staffing decisions can attract the right talent.
Although a larger talent pool is now available, companies should remain authentic and committed to recruiting top talent that reflects their values and contributes to their culture. Data shows that investing in an inclusive workforce can drive financial performance.
In summary:
2020 challenges us in its own way to bring innovation into dusty processes and to contribute innovative ideas. Of course, this also includes "remote working", if possible. However, "innovative progress" does not exclusively mean "remote working" but also addresses embedding new approaches into the corporate culture. 2020 is making companies and employees make bold innovative decisions.
The pandemic has fundamentally changed the perception of remote work, and most importantly, it overturned the previous belief that a physical office workplace is necessary to maximize employee productivity and that it generates higher results.
Many companies are inspiring us with a dispersed workforce and - simultaneously - continuing to make progress in managing and accelerating DE&I into the workplace.
2020 has proved once and for all that forecasts are not necessarily reliable, but the turmoil of the past year points to innovation. We’re living in an era of new starting points. New perspectives and focus on the importance of flexibility and inclusiveness in the workplace will lead us all to success. Therefore, the upcoming months will be groundbreaking for talent strategy.
Yours truly,
Pickvogel 🐦