Quantcast
Channel: The Economy – The CBI Group
Viewing all articles
Browse latest Browse all 10

2016 Workforce Trend Predictions to Impress at the Water Cooler

0
0

2016-workforce-trend-predictions-012016 is an election year. One thing is for certain either party’s candidate is going to be inheriting an economic environment that continues that slow but steady identity that has permeated the last few years.  If you need a new job, you’re in luck! The pendulum has shifted and this is now an employee market. Are you ready to acquire more talent for the business? Expect to invest more resources and to find “sourcing” talent as one your biggest challenges. Job board postings are way up. But their effectiveness continues to shift.

  1. GDP will not boom, expect 2.5-2.8%. Why? Demographics do not support the increase in productivity needed to get there even if the economic environment presents itself!
  2. Unemployment will continue to fall, as low as 4.8% but far from 3.9%.
  3. The year of the millennial in the workforce. They will hold 1 in 4 managerial roles and officially become the largest segment of the U.S. workforce.
  4. 2015 set several records in July and October of this year for the “number of jobs posted online”. Expect 2016 to surpass this consistently due to labor shortages.
  5. Did I mention labor shortages? Expect the average days to fill for skilled or technical positions to continue to go up, is some cases well over 90+ days on average!
  6. Baby Boomers are pulling the great disappearing act, retiring at a rate of 10,000 per day right now. They are retiring earlier than any previous generation due to the wealth creation effect of many two household incomes.
  7. The Affordable Care Act is here to stay. Compliance and reporting are no longer future events but business items that require all businesses to comply!
  8. Interest rates are going up. Because they have too. There are many pundits that some adjustment will be good for business too. Households have lowered their debts since the recession and businesses have taken advantage of cheap borrowing costs.
  9. The War for Talent will reach the 6 o’clock news. Yes, it will not be long until you see reporters at job fairs and news anchors lamenting the challenges that companies are having finding the talent they need to run and grow their business.  Yes, the Talent Challenge is happening right now. BUT, no one is really talking about it unless you’re in the talent field.
  10. 2016 is the year that the number of temporary workers in the U.S. stays over 3 MM throughout the year. It could get as high as 3.5 MM (but I doubt it). Current high water marks each month suggest that more than 25,000 temporary jobs are created some months.

Viewing all articles
Browse latest Browse all 10

Latest Images

Trending Articles





Latest Images