Now that the US economy and the labor market have stabilized to their present, solid levels, it’s safe to anticipate actually passing stability and going straight on to expansion once again. Over the next year, should the economy keep going the way it’s going, we will see a talent market more similar to the one that existed before 2008’s Great Recession. This means, for one thing, that employee retention may start to increase as employees look to advance within their burgeoning companies rather than swap for the next best employer.
For some insight into how the economy’s upswing is going to effect hiring, here’s “How An Improved 2014 Economy Affects Recruiting,” from Ken Sundheim, CEO of KAS Placement Recruiters. According to Ken, employers are going to have to be much more nimble in order to stay competitive in the talent market. Positions will need to be filled faster from a dwindling supply of top talent, making flexibility of the essence when attempting to court a candidate for a high impact position. This means potentially re-evaluating your policies on telecommuting or even shelling out some extra cash to comp yoga classes for the tech guru you hope to snag.