Staffing Trends in 2016: Finance, Tech, Healthcare and Seasonal
By: John Rossheim
What will be the dominant recruiting dynamics for 2016? More companies fighting for higher-skilled talent in shorter supply across many industry sectors, including technology, healthcare, finance and seasonal hiring.
Here’s how things could shake out in these four key sectors.
Employers seek new ways of snaring top tech talent. Especially in IT, employers are investing in innovations that might give them an edge in the cutthroat war for tech talent, which will continue to escalate in the coming year. Social gaming recruitment solutions such as CodeFights challenge programmers to test themselves against their peers – while strutting their stuff for potential employers.
Data, analytics and security will rule in 2016. IT hiring will continue apace in many niches while accelerating rapidly in areas deemed strategic by top management. PricewaterhouseCoopers’ 2016 IT hiring will emphasize cybersecurity and data-analytics talent, says Rod Adams, the consulting firm’s U.S. recruiting leader.
Learn More: 2016 Salary Trends in Technology
Any business that wants to recruit tech talent and hire for IT jobs is facing strong wage pressure…
Healthcare will snap up nurses, informatics gurus, reimbursement specialists. Nurses with deep experience, and especially those with a knack for management, will be in increasingly critical shortage in the coming year. “For a facility-level role, director of nursing is becoming a very, very difficult position to fill,” says Hadley Gayles, a vice president at recruiter Govig Healthcare Group. “There are not many nurses going into this, and there are lots of retirements.” Demand will also be high for informatics executives, nurse administrators and reimbursement and sales and marketing professionals, Gayles says.
Staffing the changeover to ICD-10. “With the implementation of ICD -10, healthcare organizations are seeking employees who possess the required certifications and skills,” says Scott Galanos, branch manager in the healthcare practice at staffing firm Addison Group. Medical coders and the people who train them, software developers and informatics specialists should all be in increased demand in the wake of the Oct. 1, 2015 implementation of the standard.
Corporate combinations roil healthcare executive recruiting. “There’s a lot of M&A activity,” says Katie Hesselmann, an executive recruiter and vice president specializing in biopharmaceuticals at Govig. “Larger firms are buying their pipeline, buying R&D. Candidates expect equity to be part of their compensation portfolio.” And they want to evaluate the risk of becoming redundant in a future merger. According to Gayles, when managers entertain outsider offers in 2016, their current employers will be more likely to make counteroffers. “Half of companies in Chicago get it, but the others are still trying to pay what they paid years ago.”
Mid-career financial folks will be in short supply: With the economy projected to continue growing, corporations merging, and global finance getting ever more creative, top accounting and finance talent will be hard to come by in 2016. “Recruiting will be challenging, particularly for people with three to eight years of experience,” says Sandra Richtermeyer, associate dean of the Williams College of Business at Xavier University. Employers need to consider how competitive they are in terms of professional development for financial professionals, including soft skills; external opportunities for training, including data science, and certifications such as CMA, CISA, CFE and CIA; and flexible work arrangements, she says.
Expect that financial talent with big data skills will play hard to get. “There aren’t lots of individuals out there who have the right skills in data analytics and big data,” says Richtermeyer. “These techniques are still being developed, and those at the top of the food chain are very much in demand and in short supply.”
High demand for finance and accounting pros who keep the trains running. The folks who do the nuts-and-bolts work in finance and accounting are likely to be in greater demand in 2016. “Companies are busy hiring, so they need people to process payrolls, do accounts receivable and accounts payable,” says Stu Coleman, senior managing director at staffing firm WinterWyman. “Pay for contract positions went up last year by about $2 an hour,” or 8 percent.
Learn More: 2016 Salary Trends in Finance
The stronger economy has helped the finance industry see some gains. Several economic factors have been increasing demand…
Employers will love seasonal hires – if they can find them. Just-in-time talent will always be popular with CFOs and others looking to keep the lid on labor costs. The challenge in 2016 will be to source qualified talent that’s willing to onboard – and offboard – at the employer’s convenience. “As the labor market tightens, many people who in recent years were open to seasonal jobs have by now have found full-time employment,” says Lauren Griffin, a senior vice president at Adecco Staffing. “Demand is much stronger and wages have increased. Because you want seasonal workers to represent your brand and come back next year, offboarding is as important as onboarding.”
Seasonal workers won’t only be needed for the holiday rush. “The biggest change for holiday retail is the growth in e-commerce,” says Griffin. “The biggest volume is call center — taking orders, resolving issues – and picker-packers for order fulfillment. For tax season – January to April – we’ll get orders for everyone from CPAs to extra office help.”
Learn More: 2016 Salary Trends in Seasonal Hiring
The factors that are driving higher salaries for seasonal positions in the coming months are interconnected…
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