The Talent War in the Age of the Coronavirus
The economy is challenging, and unemployment rates are high worldwide. Still, industry experts are hopeful that recruitment will take off post-pandemic. Working from home may not become the new default, but it will help remote work to gain legitimacy. This shift will favor working mothers. It will enable them to achieve work/life balance.
The career development field has a diverse group of advisors. These men and women come from different industries and backgrounds. It’s easier than ever to find motivational speakers and career coaches. These are people who can give inspiring advice on career mobility and transitions. Networking is getting easier with services like LinkedIn. People are also investing more time in learning soft skills. For example, they are taking courses in Emotional Intelligence and Negotiations.
People want access to a large number of employers. As a result, new tools are cropping up, such as AI Job Matching and Swipe-based employment apps. Job-finding services such as Indeed.com and Monster.com are becoming more popular. These changes are improving customer service. Job seekers can now do video resumes. They also have access to easy-apply services where they can get analytics, tips, and feedback.
What’s Most Important to Your Customer?
Customers want you to get rid of their pain. They hate the pain of having to apply on different platforms. They don’t want to have to remember different passwords. Typing in new or repetitive content is another source of pain. They don’t like having to deal with a lousy user interface. Low success rates and rejection are also painful.
They want a platform that is time-saving, and that gives results. They’re looking for something with quality content that’s unique and interesting. Udacity, Masterclass.com, Bootcamp, General Assembly, Udemy, and LinkedIn Learning are excellent examples. Customers like platforms where they can take part in hackathons and contests. They have access to a lot of content, and they want something at a reasonable cost with huge benefits.
What are Some of the Gaps that Young Professionals can Fill?
Employers are looking for scarce skills. They need technical skills such as Programmatic Advertising, Marketing Science, and Data Science. They’re also looking for skillsets such as Automation Management, Sales. They want people who can market both themselves and their products. Languages are in demand. Mandarin, German, Brazilian Portuguese, and Japanese are valuable. Why? Because of the strength of those markets. Emerging roles include Robotics, Blockchain, AI, and ML. Other jobs that are in demand include Engineer and Technologist.
Employers also want soft skills. They need influencers, marketers, strong communicators, and writers. Strong skills like boldness and courage are welcome. They want people with a global mindset who are flexible. Such potential employees are best adapted to the worldwide marketplace. The post-COVID era will call for productive people who can manage many tasks well. It’s no longer enough to be able to manage one project at a time.
Current and Future Trends in the Careers Market
These are transformative times. The novel coronavirus has caused widespread unemployment. People are facing a cash crunch, and some have experienced economic devastation. They have to innovate new ways to make money. Jobs are in a severe demand crisis, fueled by factors such as the rise of China. Automation, AI, and ML mean fewer jobs.
The social climate is changing following the George Floyd protests. Employees are looking for diversity and inclusion in the workplace. Meanwhile, business models are changing. Cosmetics giant L’Oreal is producing hand sanitizer. General Motors is supporting processes to make ventilators.
Sadly, there is a skills gap. The skills taught in schools are not appropriate for the workplace. They lack the hard technology needed. More jobs are going offshore, and those remaining are high-skilled. Applicants face more job competition, and there is a rivalry and talent war between large and small companies. It means a more challenging, competitive, and chaotic job search. Yet, this climate presents opportunities for companies that create services for young people.
Megatrends include Digital Disruption and Transformation, the Rise of Automation, Data Science AI, and Machine Learning. We will see more intergenerational workplaces and a global economy. Workplaces will be inclusive and diverse. Of course, the Rise of China is also a megatrend.
Hot sectors include Fitness & Bikes, Pharmaceuticals, Wellness Vitamins, and Telehealth. Beauty and Hair Care is also a hot sector, as are Cleaning, and Home and Garden. Telecommunications is also a hot sector, especially for 5G, Video Conferencing, and App Development. Other hot industries include Construction, Engineering, Food & Beverage. They also include eCommerce, Digital Streaming & OTT, and Infrastructure Development.
Job Market Importance, Psychology, and Strategy Post COVID-19
At present, the market is volatile, uncertain, chaotic, and ambiguous. Yet, a crisis can be an opportunity. Luck is important. Even more essential is preparedness for the chance to strike. COVID-19 is a potential positioning of mastery and empowerment. Customer psychology is critical. Still, players also need to combat the pain points mentioned earlier. We recommend that companies find their competitive advantage. They need to wow customers with unique content. Companies also need to develop marketing strategies using social media and other means.