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- 🎉 More than half of companies will be hiring!
🎉 More than half of companies will be hiring!
Today’s edition is brought to you by Morning Brew. The daily email that makes reading the news enjoyable. Stay informed and entertained, for free.
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📈 The year of hiring?
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Today’s edition is brought to you by Morning Brew. The daily email that makes reading the news enjoyable. Stay informed and entertained, for free!
HIRING
The Year of Hiring?
For what seems like the first time in a while, we got some encouraging news about the job market.
After a year full of layoffs and hiring freezes, companies are looking to rebound in the next six months. According to a hiring survey by Robert Half, 57% of companies are planning to add full-time roles and 67% expect to hire contract workers in Q1 and Q2 of 2024. Another 39% of companies said they have vacated positions that they’re planning to fill.
While this news may be encouraging to job seekers, it seems like hiring managers may not be looking forward to it. 90% of hiring managers say it’s difficult to find skilled professionals and almost 60% say it takes longer to higher now than it did a year ago.
“Job openings continue to exceed the number of professionals looking for work. With hiring expected to increase early in the year, employers need to have a strategic hiring plan in order to land the talent they need.”
Because roles are seemingly harder and harder to fill, managers are most stressed about keeping the employees they do have. 91% of managers cited retaining top talent as their #1 concern.
Layoffs and hiring freezes were the big trends in 2023. 1155 tech companies laid off a collective 257,533 employees this year.
OFFICE
Instagram-Worthy Offices
“Look at how much fun we’re having at the office!”
Companies are really trying to lure employees back into the office. They’re trying. Hard.
Some companies are transforming office spaces with new paint and trendy furniture to make them “Instagram-worthy.”
Cringe.
According to an expert from The NY Times, the extravagant offices are more than just an appeal to a company’s remote workers; it’s all part of a bigger, corporate image-making effort. Some employees are fond of it.
Here are what some people had to say on the NY Times IG post about the article:
"This is just a pizza for the new generation. Pay a liveable wage and treat people with respect and provide equity and people will want to work for you. Imagine that…"
"We just want to be able to afford a house and healthcare. Please."
"What's Instagrammable are all of the things people can do when they're not spending 8 hours each week commuting for no reason."
"babes, how about you put the decor and rent fees toward higher salaries, stop telling people they need 53 years of experience for an entry level job so you can stop roadblocking your own hiring process, and stop trying so hard to make the office happen?"
"Y'all will do anything but pay people more."
Sounds like it’s working well.
These aren’t just snarky IG comments either. It’s actually consistent with a University of Chicago study that found 55% of hybrid employees would feel more encouraged to go into the office if they got paid more to work in person.
COLLEGE
See Ya Later, Degree Requirements?
No college, no problem?
A recent study of 800 US companies found that 45% of employers are planning to eliminate bachelor’s degree requirements next year.
With the cost of education higher than ever before, fewer people are deciding to go to college, which has left some companies short-staffed in positions that require a degree. The same study found that 55% of companies already cut degree requirements for some roles in 2023.
Even with a decreasing trend in degree requirements, 95% of companies currently require a bachelor’s degree (at least for some roles). IT and software industries are most likely to slash degree requirements.
This trend is a welcome sight for hiring managers, since 4 out of every 5 value experience over a college degree. Similarly, 81% of hiring managers say it’s important for a college grad to have work experience.
This year, AI has been all the rage. 60% of hiring managers think it’s important for entry-level candidates to have AI skills.
The takeaway? Play around with ChatGPT instead of dropping $100k on a college degree.
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