Monster 2020 Fall Hiring Report
When 2020 began, no one could have anticipated the whirlwind that recruiters and hiring managers would face. There were state-mandated shutdowns of some industries, but increased demand in others. Companies were tasked with building an overnight remote workforce, all amid economic uncertainty moving forward.
Through it all, Monster has been tracking the impact of the COVID-19 pandemic. Since March, we’ve conducted regular weekly surveys of the Monster community of employers to track trends, sentiment, and opportunities.
Download Monster’s Fall 2020 Hiring Report for market trends and industry growth predictions, based on Monster’s latest insights and data.
Over the past six months, we’ve tracked the job market’s ups and downs—the shift to working from home (WFH), the upticks in “essential” jobs, and the major job losses for millions of Americans. We’ve been analyzing and reporting Monster’s own job search data, and job posting updates, updating data weekly on our COVID-19 resource center.
Thanks to 18 weeks of research and analysis, as well as expert insights, Monster is poised to offer you its fall jobs forecast, along with hiring strategies that can stay ahead of this fast-moving, constantly-changing market.
Some of the top takeaways are:
Remote hiring and work-from-home are here to stay
“Nobody questions any longer whether a remote work environment can be effective,” says Bob Melk, chief commercial officer, Monster. “That was always a lingering question before COVID-19 that most customers struggled with,” he says.
Now, many months into the pandemic, the top keyword search from candidates on Monster continues to be “work from home.” That’s an important adjustment for employers because candidates have indicated that they are simply not ready to go back to an office environment.
For businesses that are allowing new hires to work from home – at least to start – it’s crucial to call that out in job ads and on career sites. In addition to offering remote work, companies have had to quickly adapt to digital recruitment and hiring, including remote on boarding and video interviews.
Also, “Fall has been the major period for college recruitment”says Edwin Koc, director of research, public policy, and legislative affairs for the National Association of Colleges and Employers. “Employers have told us they are still intending to do it in the fall even though they aren’t going to be able to go on campus,” he says. “For the most part, companies are not pessimistic in terms of recruiting. They think that the labor market for the class of 2021 will be OK.”
Employer brand is more important than ever
To attract top talent and find better matches for your ever-evolving roles, employer brand is what will differentiate you. We’re at a crossroads, says Kareen Emery, vice president of employer branding, The Foundry by Monster. “Employers are offered a way to renew themselves today,” she says. “It’s time to set new best practices, leverage technology, and become the best versions of themselves. The world has been shaken – use that as an opportunity.”
It’s also imperative to make sure your messaging is on point throughout the entire hiring cycle, says Keith Sims, president and founder of Integrity Resource Management, a Sanford Rose company. “Companies need to be consistent during pre-interview in the job description, on the company website, and with the company managers in interviews,” he says. When following up with candidates who left the hiring process, Sims says that the reason that comes up most is inconsistencies with the cultural message not being displayed at the manager level or across the management team.
Hiring plans must be flexible
Companies are trying to make predictions about hiring for the fall and winter, but there’s no telling if there will be another major outbreak of the virus. “We saw at the beginning of this jobless claims rise at unprecedented levels. Now, we’re starting to see strong signs of improvement in certain areas,” says Melk.
While Monster is seeing some customers begin to develop plans to scale back up, Melk acknowledges that it’s in fits and starts since we’re still in the midst of the pandemic in many regions.
“As a result of changing infection rates and cities and states continuing to readjust the phasing of getting back to normal, that has created a lot of friction in employers’ planning processes,” he says. In some sectors, any aggressive hiring initiatives that were put off during spring and summer because of COVID-19 may start to pick back up.
Sims says, “I think we will see greater turnover in the fall and next spring because many of the unemployed people who took jobs that offered equal or less pay than they were making previously,” he says. “Those people will be on the lookout for something better and more permanent.”
Want to see more insights and predictions?
Download the Fall 2020 Hiring Report for the full report, including the top industries predicted to grow in the coming months.