Workplace Trends in 2018
As we settle more comfortably into the year 2018, we’ve established a few trends that will only continue to rise. According to Forbes.com, The Bureau of Labor Statistics predicts that the unemployment rate will continue to decline from 4.3% in 2017 to 4.2% in 2018, with an overall projection of 20.5 million jobs being created by 2020. In addition, here are some predictions for the rest of the year (taken from Forbes.com):
Leaders encourage more human interaction
When employees bump into each other in physical environments, it sparks creativity and relationship building that leads to positive outcomes.
- One study found that moments of conversation between co-workers increases performance by 20%
- Another study uncovered that 72% of employees who have a best friend at work are more satisfied with their job.
- Gen Z's and millennials choose in-person conversations over using technology and prefer corporate offices over telecommuting.
Different educational backgrounds
More employees will be accepting different types of credentials as they seek to build diverse talent pools and expand their reach.
- Almost three out of every four adults agrees that individuals have the responsibility to make sure that the workforce has the right skills and education to be successful in today's economy compared to only 52% of colleges and 49% of employers.
- Younger generations are starting to resist the traditional degree due to the ever increasing cost of tuition, which grew by nine percent from last year for four-year public schools.
Workforce decisions sway consumer behavior
In a study with CareerArc, they’ve found that candidate experience actually sways consumer behavior.
- 64% of job seekers say that a poor candidate experience would make them less likely to purchase goods and services from their employer.
- While 91% of employers agree that candidate experience can impact consumer-purchasing decisions, only 26% measure this effect.
- According to a separate study by CareerBuilder, they found that 58% of employees are less likely to buy from a company to which they've applied if they don't get a response to their application.