Job Trends and Disruptions Predicted for 2018
Glassdoor's chief economist, Dr. Andrew Chamberlain, released a report revealing top hiring trends of 2017 and disruptions to look out for in 2018.
“The U.S. economy experienced a landmark year, despite two major hurricanes and political challenges in Washington, D.C. – 1.9 million new jobs were added in 11 months and stock markets reached an all-time record high. The nation’s unemployment rate plummeted to a 17-year low, fueling a talent war in tech, healthcare, e-commerce and professional services,” said Chamberlain. “Although the nation’s labor market is strong heading into 2018, average wages for many remain stubbornly flat and a stark divide remains in who benefits from continued job growth, with tech skills earning a premium and many other jobs facing significant changes with the rise of AI and automation.”
5 Hiring Trends that Defined 2017
- Tech Jobs are Spreading
- Booming Hiring
- Workplace Learning
- Informed Candidates
One of the biggest trends of 2017 was the spread of tech jobs. Some industries saw more gain than others:
Companies added 1.9 million jobs, adding to overall hiring, and overall unemployment dropped to record lows. One unexpected trend in 2017 was the number of whistleblowers bringing big corporations into the spotlight and forcing them to encourage transparency among all employees. Moreover, employers began rolling out workplace learning programs, offering workers creative ways to upskill and grow into new roles inside companies. The last trend Chamberlain noted is the escalation in the number of employers saying their main hiring problem is attracting high-quality, informed candidates — candidates who’ve researched the employer, understand the requirements for a role, and set reasonable pay expectations before applying. With all this in mind, below are the things he predicts for 2018.
5 Disruptions to Watch for in 2018
- Rise of Artificial Intelligence
AI and automation are poised to impact nearly every facet of the workforce in some way, but two industries that are ripe for big changes in 2018: human resources and finance. Revolutionary new AI tools are complementing people’s skills in both HR and finance, upending many established and easy-to-automate roles.
- A More Transparent Application Process
While workplaces have increased their transparency in recent years, the online application process remains notoriously opaque. In 2018, job seekers can expect more visibility into both the application process and the status of job applications in real time.
- Role Experimentation
More companies are creating ways to support employee aspirations outside the common vertical trajectory within a company through role experimentation. By establishing clearer pathways for internal lateral job moves, companies can tap into the changing skills and passions of their workforce, help reduce turnover, and do a better job of matching proven talent with their most productive role inside an organization.
- Improving Mobile Job Search
Most of existing applicant tracking systems were built in a bygone era, making applying for a job from a mobile device cumbersome. Mobile apply is ripe for overhaul in 2018, but has a long way to go.
- Job Growth and Creation
Job creation in 2018 is being driven not only by innovations in tech, which will continue to expand within traditionally non-tech industries, but by significant demographic shifts such as an aging population. Many traditional jobs like restaurant waiters and truck drivers that cannot be automated easily in the near term will continue to grow and be a core source for jobs.