SBT on Forbes: Job Predictions for 2018
My cofounder Marissa Peretz and I typically start the year by discussing our predictions. In 2018 our process is the same, but the topics have evolved. Unemployment is the lowest it has been in a decade, and the war for talent in tech jobs is becoming increasingly competitive. This can cause uncertainty and speculation for companies competing for highly qualified talent this year. She shared the highlights of our discussion on Forbes.
Recruiting is more difficult in 2018
We predict that recruiting for all companies is going to become significantly more challenging in 2018. The national unemployment rate steadily declined throughout 2017. It might seem counter intuitive, but when unemployment was higher, we saw more fluctuation and uncertainty in the job market. For example, it was like a fire sale when the last recession hit, it seemed like everybody wanted to change jobs. Also, we saw freelancers benefit as a result of the instability at that time.
Once unemployment levels decreased, we saw stability set in. Now, there is less movement and people have become really comfortable in their current jobs. What makes this tricky for hiring managers is that movement creates movement. When people see their coworkers picking up the phone or taking a lunch meeting with a recruiter to hear about a potential new opportunity, they become more motivated to update their own resumes and efficiently network too.