What Hiring Boom?

What’s that coming over the hill? 

We are at the dawn of the data and AI-fueled Fourth Industrial Revolution, and it’s probably fair to say that those who lived through the first didn’t have any real understanding of its impact as train tracks were laid and looms were mechanized.

So how should employers – and employees - manage this demanding decade?

1. Go with the flow

In times of great innovation progress surges and then ebbs... then surges again. Early 2023 may look like a slowdown – but wise employers will calibrate their hiring across a longer-term trajectory and factor in industry trends when planning their talent strategy.

2. Be serial skillers

The World Economic Forum predicted in 2020 that by 2030 more than 1 billion of us would need to be reskilled to meet the demands of the digital age. It warned that failing to do so could cost $11.5 trillion in GDP for the world’s G20 countries. This was in January - before a global pandemic hammered home the necessity for digital literacy at almost every level.

Creating an agile workforce with ongoing upskilling in its DNA will help weather industry downswings through redeployment and internal mobility – and be swift to realize the benefits of industry upswings.

To be part of that agile workforce, smart employees will be researching the trends in their own sector and working out what training they need to request from their manager. Smart jobseekers will be doing the same and perhaps getting that training independently, to polish up their offering for their next application.

3. Lead on

Finding and developing future leaders isn’t easy, especially in the current climate, but it’s crucial to steadying the voyage of any company. Assessment and growth programs are an engine for the near, mid and long-term future of any organization – don't neglect them, even if there’s more of a gentle buzz than a boom going on right now.

If you’re a leader, continue to learn and keep your skills fresh. LHH offers leadership development programs that can help ensure you’ll have the skills to lead your teams through any economic climate.

Boom, bust or burgeoning – what's the way ahead?

Whether you feel you’re surfing the wave of the hiring boom or being left flapping in its wake, we’re here for you. Partnering with a top human resources organization like LHH and making use of its wide network of contacts and decades of expertise can help build a future-proof strategy for employers and employees alike.

Our specialists in Career Transition & Mobility can assist with employees heading for change through upskilling, redeployment, retirement or outplacement.

The Recruitment Solutions team can take the weight off the HR department when it comes to seeking and sifting the best candidates, running pre-emptive interviews and checks and negotiating the best packages.

And Leadership Development can help both employers and employees grow into a management team purpose-built to navigate the choppy waters of the next decade and beyond.

Contact LHH today, we’ll get you Ready for Next.