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While this year brought an unexpected number of challenges to people and companies across the globe, several specific trends emerged in the world of hiring and human resources. From fluctuating industries to the virtual hiring, we’re breaking down some of the top pieces of the 2020 hiring puzzle
The largest aspect of 2020 was the ongoing Coronavirus Pandemic. The pandemic brought many industries to screeching halt while other industries, including Real Estate, and Wellness & Fitness saw growth.
In May 2020, we saw national hiring drop 37.9% compared to the previous year. Several of the industries hit hardest in the early months of the pandemic include Consumer Goods, Recreation & Travel and Manufacturing.
While people adjusted to the new normal, hiring managers and company leaders had to scramble to analyze, adjust and implement digital strategies for hiring and managing their existing workforce.
Human Resource Managers were tasked with executing, or in some cases, developing a remote work policy and program. Additionally, employee wellness was brought to the forefront of many HR professionals’ job responsibilities with many having a focus on mental health and managing anxiety.
IT Departments were also challenged, as they had to ensure entire organizations could continue to function effectively and securely with all working remotely. Virtual interviewing, team meeting and even virtual teambuilding became standard among companies working remotely.
While the pandemic brought countless unprecedented challenges, we are beginning to see industries returning to in-person offices or settling into a new remote workday.
According to LinkedIn’s Economic Graph Workforce Report, hiring in October 2020 continues to increase compared to September 2020, but remains 5.8% lower than it was in the previous year. Additionally, several industries have been able to see promising recovery numbers:
- Real Estate: up to +2.9% y/y in October from -54.7% y/y in April
- Construction: up to -7.9% y/y from -53.6% y/y
- Retail: up to -5.6% y/y from -49.7% y/y
- Transportation & logistics: Up to +4.1% y/y from -44.1% y/y
- Manufacturing: up to -6.7% y/y from -48.8% y/y
As workplaces continue look toward a post-COVID-19 world, they will need to continues to develop and challenge previously standard processes and polices while embracing the ever-changing hiring landscape.