GOLDEN VALLEY, Minn. -- Recent trends indicate that U.S. and global economic growth will continue to flourish In 2012. An improved job market in the next year is hopeful, however employers remain cautious of the evolving economic and policy landscape that may impact their hiring decisions.
Although unemployment rate in Minnesota currently rests around 5.9 percent, it is down more than one percent from just last year. There are some job market trends that could impact your job search in 2012. You should be aware of these trends that can help you find and land a new job.
Social Media The use of social networking tools such as LinkedIn, Facebook, and Twitter has exploded over the past year for both job searchers and recruiters. This is now becoming the place to "meet" and being considered for a job position, or to find candidates to fill open positions. 2012 will see more employers and job hunters "hooking up" through social networking. As a job hunter, it is imperative you learn how to use social networking tools to improve your prospects of being "found" by employers looking to hire someone with your skills.
Technology The mobile platform is becoming the new communications link for recruiters and candidates. It is quickly becoming the dominant communications and interactive platform to connecting candidate and employer. New applications are being introduced for posting your experience profile and for employers to find you, connect with you and meet with you. This is the speed at which these changes are happening in the talent marketplace, and producing quick hiring results.
Talent Wars This is a term we haven't heard for quite a few years, but is now starting to be used again in recruiting circles. Skill categories including technology, healthcare, finance, sales, marketing, even executive and managerial positions are seeing a shortage of qualified candidates, or will be seeing shortages by the end of the year. After doing an inventory of your skills and knowing the demand for someone with your experience, you will have a certain amount leverage when it comes to negotiating for the position you're looking for as the market continues to tighten.
Employee Retention As the job market continues to improve, employees that have been reluctant to move because of the economy will not start testing the water. Employers, concerned about losing top performers, will now need to shift their strategy to entice these employees to stay or risk losing them. One expert predicts we'll see over 25% turnover in key skill positions within companies, which means these positions will have to be re-filled with other employees. The job market pendulum is shifting quickly to the advantage of the job hunter and the best way for employers to avoid losing key people is to redesign or implement new employee retention programs. As many studies have indicated, it is more cost effective to retain key performers than replace them.
The Remote WorkplaceThe continued growth of technology, social media, and easy communications now makes it possible for most knowledge work and team activities to occur remotely. Allowing top talent to work "wherever they want to work" improves retention and makes recruiting dramatically easier.
Unfortunately, even though it is now possible for as much as 50% of a firm's jobs to be done remotely, manager and HR resistance has limited the trend. Fortunately, managers and talent management leaders have begun to realize that teamwork, learning, development, recruiting, and best-practice sharing can now successfully be accomplished using remote methods.
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