The budgets of salary projects to grow by 3.2% average this year from 3.1% which was last in the US following the unemployment at a 49 year. There is the growth of labor which is felt by the employers since 6.9 million went unfilled last years. This is number is still predicted to even grow more in 2019 and the industries are most affected include the education services, health services, professional, as well as the business services.
Gen Z university class this spring has graduated to fill the workforce. The LinkedIn recent research shows that the web designers specifically for women and software tester for gentlemen are growing the fastest. Again, we cannot avoid the fact that ten thousand people get to 65 on a daily basis, meaning 5.7 million jobs are likely to be available over the coming 7 years which will be taken over by individuals above 55 years of age.
With changes in the labor markets, the infrastructure which supports it changes too. The HR technology in the last five years has realized an innovative race, consolidations which are big as well as the proliferation of startups. In Europe, there is also new legislation such as the GDPR whose function is to the forefront of the security of data. In breaking them down further, let us what is likely to happen:
- The start of Gen Z takeover.
The cohorts of millennial have been taken into the fold by every employer. The biggest workforce now is the new generation of people born between 1981 and 1996 and they need to be welcomed by every employer. Gen Z the truest digital natives of all these new generations, is supposed to make a representation of 40% at least, of consumers by 2020. This potentially influences an annual family expenditure of $166 to $333. Some of the features which define them include; seeking honesty, entrepreneurial, among many others.
- The new norm is remote work.
Remote work is being enjoyed by a large number of employees with productivity increase. These remote employees according to research are known for putting in a whole day of work with no commute disturbances. This has reduced attrition of employees and the operational costs by huge numbers.
- Digital and consumer-grade HR.
With all honesty, the employees and the employers will continue to seek a tech work-place which is friendly to the user. For the HR solutions, they are forced to be cloud-based fully, mobile-enabled having the end user in mind at all times.
- Competition about the benefits felt by employers.
This may be hectic for businesses which are small in size and those lacking recognition name by big companies. All the benefits offered by these businesses need to be a lot of creativity such as work arrangements which are flexible, support with student loans, and offering health programs.
- Delivering against diversity.
This is where the employers are supposed to make expansion on the pool of talents. This entails pipelines being built for candidates who are not well represented and the ones who are traditional.
Moving to 2020, a lot of changes will be available for sure.