Employment Trends That Might Impact Your Business
Are you keeping up with the latest employment trends?
If so, you may already know that employment is looking up in the US. Unemployment rates are continuing to drop, while the country’s GDP growth will jump as high as 3.1%.
So what does this mean in practical terms for you and your business? What new trends are shaping the workplace? Which of these trends should you consider implementing? Read on for more.
1. Focus on Human Interaction
All the technological advances in recent years have resulted in a surge of remote, or work-from-home, positions.
While we’ll continue to see companies offering remote work positions, we’ll also see an increased emphasis on face-to-face interaction. One study found that people who took a 15-minute break to socialize with coworkers were 20% more productive than their stay-at-home counterparts.
What’s the takeaway? Technology has its place, but we thrive in an interactive workplace. Expect more companies to push their employees out of their home offices and into a communal workspace.
2. Emphasis on Continuing Education
Speaking of advancing technology, it’s more important than ever for companies to stay abreast of the latest technological developments.
For this reason, we expect to see a huge emphasis placed on continuing education programs for employees. Employees (and employers) who aren’t familiar with the latest technologies will quickly get left in the dust.
Current work trends include company-sponsored workshops and incentive programs for continuing education. This will ensure all employees stay up-to-date.
3. Overall Older Workforce
One in five Americans over the age of 65 worked at least part-time in 2017.
This number isn’t expected to drop anytime soon. Baby boomers are retiring later than past generations and, due to increasing costs of living, some may never fully “retire” at all.
What does this mean for your workplace? An interesting dynamic could develop as those in leadership positions continue to work past retirement age. In turn, aspiring younger workers may have fewer opportunities for advancement.
As a result, expect to see higher rates of turnover as young professionals try to find a company where they can climb the corporate ladder.
4. Increasing Technology and AI
Have you noticed ordering kiosks at fast-food chains or automated order pickers at warehouses? How many robotic voices do you hear before you speak to a real customer service representative?
The world is getting more and more automated, and that trend is only going to increase in the future.
Another significant way companies are growing (and saving money) is through the use of chatbots. These are specially designed AI programs that can “chat” with customers online.
If your company hasn’t already been affected by these changes, get ready. It’s coming.
Final Thoughts on the Latest Employment Trends
While some aspects of business remain the same, many employment trends come and go.
If you are looking for advice on how to implement the latest employment trends, then contact the professionals at GIGA Solutions. Our PEO Brokerage is dedicated to helping businesses stay ahead of the competition.