82% global employers plan to hire in 2021, reports Monster

Despite a tumultuous and volatile 2020, global organisations are optimistic about the hiring outlook for 2021.

Around 82% of global employers plan to hire in 2021, according to staffing and recruitment company Monster. More specifically, 47% plan to replace or backfill open positions, and 35% even expect to expand their company’s workforce by hiring for new jobs. 

However, the long-term impact of the coronavirus pandemic on hiring and career development is just coming to the surface and will affect the way employers hire and train candidates for the near future, according to the results from the annual Future of Work global survey, conducted by  Monster. Monster’s CEO Scott Gutz, believes candidates and recruiters alike can – and should – begin the new year with a brighter outlook and plans for the coming months. “The results revealed that recruiters and HR professionals are taking an optimistic approach to the new year,” stated Gutz. 

But there are lessons to be learned from the dramatic shift in the “new normal”, and the impact that it has had on the way candidates and employers find the right fit. “We’re fully aware of the challenges the talent acquisition industry faces, including the broadening skills gap, the pandemic’s impact on our mental health, and the need for more diverse workplaces,” pointed out Gutz. Yet, despite these hurdles, Monster recognises that the state of recruiting is strong.

HIRING OUTLOOK BY INDUSTRY

Monster’s 2021 Future of Work survey also identifies key global recruitment trends and hiring challenges. For starters, hiring is up, but it varies by industry and is affected by a continued demand for reskilling. Although 93% of employers are confident in finding the right candidates, 40% expect to continue facing the skills gap, with one third of employers agreeing the skills gap has increased, compared to one year ago. 

The tech-industry recruitment leads with 49% of organisations planning to hire new recruits. However, health care and finance/banking are expected to replace jobs lost due to the pandemic (59% and 53%, respectively). Nearly one third (32%) of recruiters for leisure/hospitality are expecting continued hiring freezes. 

STRONG DIVERSITY & INCLUSION EMPHASIS

The survey also revealed the need for employers to adjust in order to meet the demands of today’s candidates. HR professionals adapted to the new way of working and hiring during the pandemic, with many of them making changes to flexible work schedules (42%), remote work flexibility (41%), and updated health policies and protocols (40%). However, the industry will need to adapt to the demands of today’s candidates. Workers are struggling with job-related anxiety (32%), headaches from too much screen time (16%), and depression (14%). Women around the world are feeling this more strongly than men, with 36% of women experiencing job-related anxiety and 13% experiencing loneliness. 

Additionally, despite a stronger emphasis on diversity, equity and inclusion (DE&I) in the workplace, 56% of surveyed companies worldwide have not, nor are they planning to update their DE&I strategies. This is in stark contrast to candidates’ desire for employers to offer diversity training (35%), build a diverse workforce (34%), create elements of an inclusive work environment and workspace (29%), and encourage employee resource groups (20%).

VIRTUAL RECRUITING & FIT RISK

Virtual recruiting is also on the rise, but it is putting “fit” at risk. Although the US is leading the charge at adapting to virtual practices, with 70% of US recruiters using virtual technology for at least half of their candidate interviewing and new-hire onboarding, more than a quarter (26%) of global respondents are still struggling to master virtual recruiting. 

Candidates are struggling to assess company culture and job fit through virtual hiring. Three in four candidates (75%) agree that “virtual hiring makes it difficult to really assess how a company’s values and culture align with my own”. The leisure/hospitality, transportation/logistics and retail sectors lag behind other industries in adapting to virtual hiring. In fact, around 18% of recruiters in those industries do not do any virtual hiring. 

More details on the global findings from Monster’s Future of Work survey can be found here.