Top 8 talent trends for 2014 according to Hays
2014 will be the year of multi-level knowledge, working out which big data skills are actually needed and better understanding of social media as a channel according to recruiting company Hays.
“Towards the end of 2013 we saw business confidence start to rise, which should feed through into the labour market in the first few months of 2014,” says Peter Noblet, senior regional director of Hays Sales and Marketing.
“Australia’s economy is maintaining momentum and consumer confidence is strong heading into 2014.”
Hays suggests consumer sentiment is being buoyed by low interest rates, rising house and share prices, and relatively stable unemployment. The Australian economy is expected to grow by 2.8% in 2014, at a slightly faster rate than in 2013.
“This will lead to increasing staff turnover as candidates become more confident to explore their options. Many employers also tell us they are looking to secure candidates who can start early in the new calendar year,” says Noblet.
“A big area of growth in 2014 will be crossover roles – as the technology, marketing and finance worlds integrate it will be key to find people who can move across all sectors, with multilevel knowledge.”
“Also the ability to harness the whole notion of digital marketing and social media will be important, to the point where these channels are not an add-on but become seamlessly incorporated into the main game.”
Hays’ 8 talent trends for 2014:
- Big Data dilemma: “Without doubt one of the most used (and feared?) terms in the past couple of years is ‘Big Data’,” says Peter. “There is no doubt that the desire to process huge amounts of data in near real-time will drive innovation for how data can be harnessed to inform business and marketing opportunities. Looking beyond the hype, most of the current opinion is that it is really about analytics and a renewed focus on that is what’s required. Therefore in 2014 we will see increased demand for IT Project Managers and Business Analysts who are involved in data manipulation projects. ‘Data Scientists’ will also be in increasing demand; the Harvard Business Review named the role ‘the sexiest job of the 21st century‘ since these professionals can recognise patterns in data from multiple sources and then make observations and predictions, which is crucial to business success.”
- Technology’s integration: “In 2014 technology will no longer sit in the domain of the CTO or CIO, but will instead integrate with both marketing and finance,” says Peter. “This integration of both technology with marketing, and technology with finance, will see staff in these departments become jointly responsible for outcomes. It will create a need for people with multilevel hybrid knowledge. For example, in the digital marketing space professionals need to engage technology to inform their decisions. Meanwhile marketing analytics professionals use modelling and analytics practices to improve their marketing outcomes. Business analysis is another example where professionals have a functional background and in-depth knowledge of their industry and company, but also need to translate requirements in technical areas. As a result, marketing and finance professionals will need to enhance their technology skills to remain competitive in the jobs market.”
- Skills shortage catch-22: “Expect high-level skilled professionals in specific sectors to be in short supply. While unemployment is expected to rise in 2014, according to Treasurer Joe Hockey, employers still struggle to attract highly skilled and experienced professionals, particularly in technical areas. Demand is not evident in every function in every region, but we are seeing sustained demand for high-skill professionals.”
- Resourcing digital and social strategies: “As confidence returns to the jobs market, the candidate is again ‘king’ however most organisations are yet to fully embrace digital and social media effectively when it comes to recruitment. The expectation is that a presence and activity on social media such as posting a job is enough, but the commitment and resources that are really needed to build effective relationships is vastly underestimated by most. Without that commitment it is very difficult to attract and engage with the right talent at the right time.”
- Staff retention: “Employers are often blind to the cause of staff turnover and in 80 per cent of cases an employee chooses to leave due to the job itself, pay and conditions or work relationships – all issues employers can do something about. As employees become more confident and start to explore their options in the jobs market, employers will really need to turn their focus back to retention.”
- Aptitude for learning: “The world is changing rapidly and it will be smarter to recruit candidates who can – and want to – learn new skills, rather than candidates who may only be fit for today. Globalisation, the shift towards a knowledge economy and the sheer pace of technological change are creating a need for employees who can learn and respond to both their employer’s and the market’s changing demands. With this in mind, candidates should not only meet the required technical and soft skills for a role, but also possess an aptitude and desire for learning.”
- A borderless jobs market: “In our global economy the world is becoming borderless and in order to achieve career development people are willing to change countries more readily. With this in mind speaking another language is a hugely important business skill, and it will only become more so in future. For those looking to move up, these skills and the cultural intelligence they often come with are equally indispensable for today’s global executives and the organisations they lead. The insight to understand people on their own terms and in their own language will be increasingly valued in the years ahead.”