The misalignment between job supply and demand will force candidates to submit CVs increasingly based on what they can do, rather than on their experiences. Seniority in roles will count a little less, in favor of young people who can demonstrate knowledge and know-how, especially in certain areas, such as IT, technical and engineering. The specialized recruitment multinational Hays, listed on the London Stock Exchange, present in 33 countries, with 13 thousand employees and a turnover of one billion and 294 million pounds, has carried out an analysis of what is happening in the labor market and has identified some trends of discontinuity with the past. Hays arrived in Italy in 2006 and is present with various offices in Milan, Rome, Bologna and Turin.
Skills versus experience
According to the analysis he carried out, Hays found that in 2024 there will be a real paradigm shift in the search for talent at an international level: three out of four selection managers say that skills will have a significantly greater weight than experience, thus becoming an absolute priority for your company. This change, which would cause the long list of experiences that one can boast on one’s CV to lose value, is mainly due to the lack of personnel with skills in some areas, such as those related to IT which is indicated by 62% of senior decision makers in Worldwide. The other trend that will drive research is the balance between people and technology, in particular with the development of artificial intelligence. While companies are already predicting that this year will allow them to make a leap forward in increasing productivity, much remains to be done so that technology is used appropriately, so that people can see it as an aid and not as a threat.
Employment rises but the supply-demand mismatch remains
Focusing on Italy, at this stage, the Italian labor market appears very dynamic and evolving. In February the number of people employed exceeded 23.7 million, while the employment rate reached 61.8%. The positive employment numbers are also reflected in hiring forecasts. According to Hays processing based on “Unioncamere-Anpal, Excelsior Information System” data, from February to April companies expect to hire 1.3 million people, 9.5% more than in the same period in 2023. at a territorial level, the region with the highest number of new arrivals expected, again in the quarter, is Lombardy with 270,850 hires, followed by Veneto with 129,740, and Lazio with 128,470. Growing the most compared to the same period in 2023 are Liguria (+16.9%), Valle d’Aosta (+16.3%) and Campania (+16%). If these are the intentions of companies, in the technical and engineering fields, however, the difficulties in finding the right people now concern almost one candidate in two.
Inclusion
Hays recruiters also explain that sensitivity towards issues related to inclusion has grown in companies, but not enough, given that even today a share close to half of workers does not feel involved in diversity, equity and inclusion initiatives. This is one of the trends that will increasingly impact on the reduction of employee turnover, even up to 50% and consequently its importance will be growing, given the need to retain people in a phase in which it is very difficult to find certain skills on the job. market.
The burden of hybrid work
To retain but also attract people, adopting a competitive remuneration strategy will no longer be enough, especially if it does not take into account job satisfaction, training and career progression, and how these aspects must be adapted to support employees in the different stages of their professional life. However, hybrid work cannot be missing from the strategy. A Gartner study of over 4,000 workers found that four out of ten would be willing to quit if they were forced to return to the office. But by 2024, as productivity growth slows globally, nearly a quarter of companies expect their hybrid working policies to change in the next 12 months and require greater on-site presence. If we look at what is happening across the border, the case of Deutsche bank is among the most significant. While not taking any steps backwards on remote working, the largest German bank in its new policy, which will come into force from June, has chosen to lower the limit from 60 to 40 percent.
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