How the 2019 Job Outlook is Affecting Hiring
If you’re an employer looking to hire in the second quarter of 2019, you’ve probably experienced one of the following scenarios:
- A lack of applicants for open positions
- Candidates applying for open positions who aren’t qualified
- Applicants making it through the hiring process, only to reject or fail to respond to employment offers
Thanks to an unemployment rate that has fallen to a near-historic low of 3.6%, these scenarios are becoming all-too common for employers across just about every industry. The last time unemployment in the U.S. was this low, it was December 1969 and the federal government was holding its first draft lottery since World War II.
Finding the Right Candidates in a Narrow Candidate Pool
In response to today’s tightening labor market, companies are pouring enormous amounts of time, energy, and financial resources into finding the right candidates to fill open positions.
Meanwhile, with the job market becoming increasingly candidate-driven, job seekers are finding it easier to leverage more from the businesses to which they’re applying. Whether it’s higher pay, more vacation time, flexible schedules, or better benefits, good candidates are requiring more from their potential employers than in previous years. Because of this, many organizations have turned to recruiters to help them find qualified, available candidates.
A Promising Job Market for Candidates
With digital literacy becoming more prevalent than ever, the growth rate for jobs in the fields of digital marketing, tech, and sales is only expected to increase in the coming years.
While the growth in the marketing industry is expanding at about the same rate as the overall job market, some positions are increasing faster than average.
- Sales management positions are expected to grow 7% (about average)
- Public relations management positions are expected to grow 8% (about average)
- Advertising management positions are expected to grow 9% (slightly faster than average)
- Marketing management positions are expected to grow 10% (slightly faster than average)
- Market research analyst positions are expected to grow 23% (much faster than average)
Of course, the growth of these positions can vary greatly depending on the type of company or the company’s location within the U.S. For example, advertising managers are found in both the digital marketing and print media industries, but with the two sectors going in opposite directions, it’s becoming more difficult than ever to find open ad manager positions in print media.
Similar to marketing, tech positions are also expected to grow faster than average. From 2016 to 2026, tech jobs overall are expected to increase by 13% , which equates to about 557,100 new jobs.
Much of the growth in the technology field can be attributed to increased internet literacy, cloud computing, cybersecurity, and a massive spike in digital data collection. Among the positions growing the fastest:
- Database administrator positions are expected to grow 11%
- Software developer positions are expected to grow 24%
- Information security analyst positions are expected to grow 28%
- Mobile app developer positions are expected to grow 57%
With many traditional companies making the switch to better, more robust technologies, job positions in the technological sector are expected to maintain their rapid growth rate in the coming years.
While sales positions are among the slowest movers in the job market, they’re still projected to grow by 3% between 2016 and 2026. The industry is expecting to create approximately 458,700 new sales jobs over that span.
Similar to marketing and tech, there are a variety of different positions within the sales sector that are expected to grow at different rates over the next few years. Some are expected to outpace the growth of the sales sector as a whole.
- Wholesale positions are expected to grow 5%
- Real estate agent positions are expected to grow 6%
- Sales engineer positions are expected to grow 7%
- Insurance agent positions are expected to grow 10%
Although sales jobs aren’t increasing as fast as jobs in the tech or marketing sectors, employers still value these positions and continue to find ways to attract and retain talented sales people.
What This Means for Businesses
With employment showing no signs of slowing down, companies looking to hire top marketing, technology, and sales talent will, in all likelihood, continue to struggle to find qualified candidates.
Many times, the best employees are those who have already taken a position elsewhere, which is why it’s important to create a strategy that’s focused on targeting passive job seekers. As many as 85% of people who are currently employed say they would be open to a new career opportunity if given the option.
Since these passive candidates aren’t actively searching for opportunities, it can be challenging to reach them. Here are several strategies to keep your company at the top of the radar for both passive and active candidates.
1. Be Active on Social Media
Being active on social media is an excellent way to showcase your brand and make passive employees want to reach out. In a study conducted by the Society for Human Resources Management, 82% of HR professionals say they primarily use social media to attract passive candidates.
If you can accurately represent your brand and your company’s mission, vision, and values in fun and engaging ways on social media, the passive candidates keeping an eye on your company are much more likely to apply for your open positions.
2. Re-Target Candidates with Ads
If your engagement efforts are successful enough to drive passive employees to your website, it’s time to start re-targeting them with ads. Use social media advertising to drive application conversions from candidates who have previously interacted with your brand in some way.
3. Hire a Recruitment Agency
Recruiting passive candidates can take up a lot of time for hiring managers or HR professionals, who are often being pulled in several different directions at once. For this reason alone, many companies opt to outsource the task. Recruitment agencies know how to proactively search for candidates that would suit your organization well, and they know how to properly engage with candidates without scaring them off.
If the demand for marketing, tech, and sales jobs continues to increase as the unemployment rate continues to stay low (as we suspect it will for the foreseeable future), businesses will need to find new ways to stand out from the crowd in order to land top talent.
Whether you’re looking to showcase your business to active job seekers or quietly find talented candidates who are passively looking for new opportunities, partnering with Shyft Careers can help you expedite the search. Check out our service plans to find a solution that’s right for you and your company.
We can’t wait to help you make a Shyft!