Have you ever noticed that each pandemic changed the course of the world?
➤ The plague resulted in the fall of the Roman empire and the emergence of feudalism.
➤ Black death in Europe started a new era of renaissance.
➤ Spanish flu made the world develop a new health protocol.
➤ COVID-19 also led the world to go under complete lockdown. Work from home, school from home, new workplace norms, social distancing. These are the new concepts that took control of our life without our choice.
2020 was a life-changing year for us. We all learned new normals, new skills, and new beliefs. And as vaccines are rolling out globally, we all are getting ready for recovery.
If we talk about recruitment, we have already started witnessing changes in this industry. While hiring is increasing in the healthcare sector, there has been a continuous decline in hiring in the travel, hospitality, retail, automobile, and aviation sector.
Before we discuss the future of hiring post-COVID, let’s check on the number of tech startup employees laid off since the coronavirus (COVID-19) outbreak worldwide from 2020 to 2021.
According to a report, tech companies are still laying off their employees in Jan’21, and the most affected industries that suffered lay-offs are transportation, retail, and finance.
Let's see how hiring will change post-COVID.
Top Industries That Will Have High Hiring Needs
Would you like to know which domains will have high hiring demand after COVID-19?
U.S. employment growth 2018-2028, by industry
(Projected change in employment in the US from 2018-2028, by major industries)
According to the BLS report, the sectors projected to see the fastest annual employment growth from 2018-2028 are healthcare and social assistance, professional and business services, and leisure and hospitality.
Rise of Gig Economy
The new workplace trends, including remote hiring, have led to increasing in the hiring of freelancers. As most of the organizations are working from home, the location of employees doesn't matter.
This means that the Gig economy will grow. And players like Upwork, Turing, Toptal, Fiverr will be highest benefited from this change.
Top Challenges Recruiters Will Face Post-COVID
As the entire world is getting ready for recovery, the recruiters have different reasons to worry about. The new changes are bringing with them new challenges to be addressed.
According to bullhorn, the main challenges for global staffing firms in 2021 will be:
As you can see, the labor market will have a direct impact because of COVID. There will be tight talent pools, i.e., skills shortages and gaps, reduction in job requisitions from clients, economic instability, hiring freezes, etc.
Growth of HR Tech in 2021
HR technology has always been the savior for recruitment challenges. When HR professionals and recruiters are looking for a quick solution, HR technology is the best bet.
According to bullhorn, 55% of employers feel they have to increase technology investment. Many organizations noted that their technology investments in 2020 ended up being larger than expected due to the pandemic.
The trends explain that post-COVID will increase hiring and a higher demand for HR Tech products in healthcare, education, entertainment, and professional services.
Being in the HR Tech industry for more than 10 years, RChilli stands tall with its parsing, matching, and enrichment solutions and is already impacting these segments.
We also serve domains like HR, IT & Services, Staffing & Recruiting and work with many prestigious HR Tech leaders like Ideal, Hiring Solved, GR8People, Phenom, Recruit Genie, impress.ai, and many other leaders who are serving the HR tech industry.
Are you ready for post-COVID hiring? We are.
Would you like to know what makes us so confident? Let’s connect!