Wondering what the workforce world might look like next year? Related to jobs in Texas we already know a lot. Manufacturing is coming back (though your parents might not recognize it), oil & gas is booming more than ever before, even aerospace has found a voice and is screaming to be heard.
But what of the workplace itself – what trends might we see in the coming year. Many think 2014 will be a slower economic period nationally where a lot of major workplace issues will surface. Dan Schwabel of Millennial Branding took a shot at the top 10 trends for 2014 and had some interesting thoughts. We’ve summarized the high points below but the full article can be found here.
1. Healthcare’s impact on the workplace - CNNMoney.com found that 9 out of 14 economists say that businesses are putting off hiring because of health care reform next year.
2. Freelancing becomes a normal way of life - One third of Americans are freelancers (17 million people), contractors and consultants right now and there will be more of them than full-time employees in six years.
3. Gender pay gap starts to close - If you break down the gender pay issue by generation there is only a 2-3% difference between male and female pay across all 3 generations (X, Y, Boomers), with Gen Y having the smallest gap. And this will continue to shrink per #5.
4. The economy delays career growth - The Congressional Budget Office expects unemployment to remain near 8% in 2014, and degrees and internships don’t guarantee jobs anymore. And most workers now turn 30 before earning $42,000/year, up from 26 back in 1980.
5. Boomers retiring/changing demographics in the workplace - 18% of boomers will retire within five years and that will have a major impact on the workforce and workplace demographics. That creates lots of opportunity, but also lots of challenges.
6. Employers create new ways of filtering candidates – Jobvite.com reports that 94% of employers are using social networks for recruiting and candidate evaluation, and more companies will start using tests to close the skills gap.
7. More companies provide wellness programs - Employers will be able to use financial rewards and penalties to encourage healthier behaviors.
8. The continuous job search - People are continuously searching for a job these days, even while they have one. And the internet creates an even larger marketplace, making the search that much easier.
9. ROI of college is looked at closer - “Traditional” colleges continue to increase tuition, but with more and more “new” colleges offering online courses, traditional models will have to prove their worth.
10. Reputation becomes more important for both professionals and companies – Candidates will be hired and promoted based on a positive reputation (it’s safe to hire someone who already has a solid reputation/track record), but those candidates will also seek out only companies that have a positive one themselves (a recent study by CareerBuilder shows that 75% of job seekers will take a lower salary for a good brand).