Building Better in 2021: Webinar Recap
This past year every organization has faced unprecedented changes and challenges. As companies navigated work amidst the pandemic, many executives were forced to make difficult decisions regarding staffing, budgeting, and operating within a remote capacity. Throughout the year, several trends were identified that successful organizations followed, leading to a surprisingly strong recovery. Our CEO and Co-Founder, Eyal Grayevsky, joined Talent Tech Labs Research Director, David Francis, to analyze the past year’s trends, discuss predictions for 2021, and provide insights into preparing your organization for the remainder of the new year.70% of employers have stated their intent to create a #flexible workplace for their employees who opt-out of returning to the office. @MyaSystems and @TalentTechLabs joined forces in their latest webinar to discuss the #future of work: Click To Tweet
What We Saw in 2020:
2020 is finally over, which means it is high time for organizations to reflect on their performance. What things did you do that went well? What parts of your process need to improve for the future? As you analyze the successes and pitfalls of your company, make a note of the trends organizations followed within the last year:
- Loss of Workforce — 2020 saw massive levels of layoffs and job loss across all industries. The pandemic and lockdown led many organizations to reduce their workforce to keep budgets balanced and stay afloat.
- Shift to Virtual — This last year many organizations adopted new talent technologies that supported the move to a virtual and remote workplace. Video conferencing tools and project management software offered a means of providing accountability and increased collaboration across departments. With eyes on the future, the question remains — what does the workplace look like post-pandemic?
- Hiring Growth Tapered — This past year has been tumultuous within the employment sphere. Lockdowns and reductions in cash flow led to the largest unemployment rates in recent years. Surprisingly, this was followed by a robust recovery that made up for nearly half of the losses. While this growth is hopeful, many industries still are facing troubles.
- Remote Work — There’s no denying that the way we do work has changed, potentially forever. In the last year, organizations have quickly adopted remote work formats, and they’ve seen incredible results from these efforts. Productivity remains high, and in some instances, businesses have seen dramatic improvements, and top executives are finding that remote work is a more cost-effective way to conduct business.
- Contingent Work — As organizations tackle the shift to a remote workforce and manage slowed growth in their hiring abilities, many companies are replacing full-time employees with contingent workers. This offered more flexibility in the benefits organizations offer their staff and reduces the amount of risk organizations need to manage with new hires.
- Shift to Automation — As organizations shifted to remote work, new tools and talent technologies were introduced and adopted to streamline business processes.
What We Can Expect in 2021:
The new year has started, which means it is time to shake off the cobwebs and refine your approaches. Mya CEO and Co-Founder, Eyal Grayevsky, and Talent Tech Labs Research Director, David Francis, breakdown their predictions for what business looks like in a post-pandemic world:
- Growth in hiring — As 2021 progresses, we can anticipate an accelerated recovery in specific industries due to the release of vaccines paired with increased demand for activities such as travel, hospitality, and foodservice.
- Continuation of remote work — Recruiters and employers need to prepare for the rise of hybrid work. Employees prefer the autonomy and flexibility of remote work, and many employees will continue working remotely in some capacity for years to come. 70% of employers have stated their intent to create a flexible workplace for their employees who opt-out of returning to the office. Providing a basis for flex work will help you and your employees create a seamless transition when the time comes to return to in-person work.
- Contingent jobs will become the norm — By the year 2030, experts estimate that 80% of all roles will fall under the category of contingent or freelance work. In our ever-changing environment, the ability to make quick staffing adjustments by reducing contingent employees can help recruiters stick within their budget and continue operations.
- Diversity and equity remain at the forefront of recruitment — Organizations thrive when their teams are made up of diverse and inclusive individuals. With a rise in remote work, recruiters now have more opportunity to rid their recruitment process of unconscious bias.
- Increase in adoption of technology — Many tasks within the hiring pipeline currently have little to no automation, leaving recruiters with time-consuming and tedious tasks. As hiring ramps back up, this creates issues that organizations need to address. Identifying opportunities and tools that support the automation of tedious tasks will be a big trend within the recruitment sphere. These automation tools can help recruiters refine their hiring strategies and spend more time working on strategic tasks.
Experts say that now is the time to invest in new talent technologies and to create long-term plans for your organization. Your organization can prepare for future disruption and foster a culture of success by sourcing the right tools and technology, such as talent acquisition software, automation tools, and conversational AI.
Check out our full webinar, Building Better in 2021, for more insights and predictions for the hiring and recruiting industry.