With 2.27 million new roles added as of November, the year 2018 hosted a very strong job market, according to Glassdoor’s annual Job Market Trends report, released on Tuesday. Companies invested in artificial intelligence (AI) and workplace diversity in 2018, and these trends will continue to be develop in 2019, the report found.
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“After nine years of steady growth, 2018 saw one of the strongest job markets in a generation,” said Glassdoor Chief Economist Dr. Andrew Chamberlain in a press release. “However, the world of work is forever changing. We’re witnessing a power shift as job seekers leverage their market position and employees make an impact with their voice. Plus, as technology matures, it’s changing how we work and the variety of jobs available.”
Here are the top five job market trends Glassdoor identified for 2019:
1. Tech will change job search methods
Previous methods for hiring focused on job searches and applications using online job boards and email submissions. The year 2019, however, will build off of the AI developed in 2018, with machine learning-assisted job matching, according to the report. Rather than just aggregating job postings, sites will leverage machine learning technology and big data to generate job recommendations tailored to each candidate.
This way of hiring will prove beneficial for both candidates and employers, according to the report, by matching candidates with a job faster, and giving companies better quality applicants.
2. Focus on non-tech workers will increase
A trend that was already underway in 2018, tech companies will continue to hire more non-technical roles to develop their teams in 2019. Previously, tech companies and startups were focused on back-end development, hiring software engineers, data scientists, and developers to build organizations’ infrastructures. In 2019, the focus will be shifted to the front-end, with tech companies hiring account executives, project managers, operations managers, financial analysts, human resource representatives, and more. These jobs will help boost revenue and improve operations, the report found.
3. Job seekers and employers will face an economic recession
While the job economy was strong in 2018, the 2019 economy may be slowing down, according to the report. The odds of a full-blown recession in 2019 are low, but that doesn’t mean we won’t see one after another year.
4. The aging workforce will bring a talent shortage
There are currently more than 7 million job openings in the US, with not enough workers to occupy them, the report found. A big reason for this shortage is America’s aging workforce: The first wave of Baby Boomers reached retirement age in 2011, and millions more are expected to follow in the coming years. The result will be a smaller pool of experienced workers, and a complete overhaul of what American consumers will look like, according to the report.
5. Diversity will be supplemented with inclusion and belonging
While many companies highlighted and addressed gender and racial diversity in 2018, there is still a long way to go. While adding women and underrepresented groups to the payroll is a good start, in 2019 companies will place the focus more on making sure these people feel included. Inclusion and belonging is vital for a healthy corporate culture, the report found. Without these components, diversity programs will not succeed.
Whether it means making sure all employees are included in company events, are on the right track for a promotion, are represented for leadership, and more, organizations will be making inclusion a primary goal, according to the report.