With 2014 approaching quickly, it’s important to take a look back at the past year and take stock of the changes that have taken place. Besides the shocking events: global NSA scandal, the government shutdown and the rise of celebrity twerking, 2013 was also a big year for hiring. According to the Bureau of Labor Statistics, November’s employment figures showed a sharp drop in unemployment from 7.3 percent to 7 percent, a 5 year low!
In terms of recruiting, 2013 saw a much greater emphasis placed on social media as the emerging holy grail of hiring. This is mainly because of its incredible utility when it comes to both passive candidate discovery/sourcing and strengthening employee referral programs. For some more on the 2013 breakdown and some insights into what the next year might have in store for hiring is an article by Dr. John Sullivan. According to the good doctor, “The War for Talent” is only going to intensify over the next year, especially when it comes to technical talent. This will be exacerbated by the draw that titan innovators like Google, Facebook, Apple, etc. have on the best technical minds on the market (or even off the market). Another prediction by Dr. Sullivan is that employee referral programs will continue to rise in prevalence to become the dominant source of hires. The numbers have proven, time and again, that employee referral programs consistently improve the retention rates as well as the overall quality of new hires. If the past year is any sort of indicator, I think we can all expect 2014 to be an interesting year, if nothing else.