ZipRecruiter Releases 2024 Industry Outlook Report
18 Januar 2024 - 3:00PM
Business Wire
Company unveils new report featuring labor
market deep dives for the future of work in 2024 across 10 key
industries, including healthcare, construction, government, and
education
ZipRecruiter®, a leading online employment marketplace, today
launched ZipRecruiter’s 2024 Labor Market Outlook. The report
leverages data and insights from the ZipRecruiter marketplace to
empower hiring managers and business leaders to make informed
decisions in 2024, with an inside look into trends across 10 key
industries and perspectives on how those will impact the workforce
in the coming year.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240118108423/en/
ZipRecruiter 2024 Labor Market Outlook
Report (Graphic: Business Wire)
“Even though growth remains uncertain in 2024, we’re on the
verge of a second roaring twenties—with a twist,” said Julia
Pollak, ZipRecruiter’s Chief Economist. “As investments in
artificial intelligence, green technologies, semiconductors, cloud
computing, infrastructure, and domestic supply chains pick up and
bear fruit, pent-up demand for labor and business inputs will be
unleashed, and the 2020s will become a decade of rapid growth and
innovation, like the 1920s before them. Armed with data and key
insights from our marketplace in this new report, leaders can make
the most of the workforce opportunities presented in this time of
rapid change.”
ZipRecruiter’s 2024 Labor Market Outlook features actionable
insights regarding the top job characteristics workers want,
current trends in employee benefits, evolving remote work
practices, changes in educational requirements, and demographic and
geographic trends, among others, across 10 key industries. These
industries include: Construction; Education; Financial Services;
Government; Healthcare; Hospitality; Manufacturing; Professional
& Business Services; Retail; and Transportation &
Warehousing.
Three Opportunities in 2024
The adoption of productivity-boosting artificial intelligence
(AI) and the shift to greener technologies present several
opportunities for employers to improve, modernize, and expand
access to their jobs. From financial services employers
aggressively recruiting AI talent to healthcare employers relaxing
education requirements and prioritizing skills-based hiring,
employers across the industries examined in the report are
exploring new solutions to workforce challenges.
- Increased productivity: The secret to growth and new
jobs. After an initial period of dabbling in hiring AI talent,
employers are now doubling down on AI in fields from healthcare
research to loan underwriting where the technology is showing the
greatest promise. Demand for AI tools is creating attractive jobs
for top tech talent, but also beginning to transform the jobs of
service workers who will be the primary users of such tools and who
stand to reap significant productivity benefits.
- Job modernization: A strategic response to shrinking talent
pools. In many industries, from skilled trades to accounting,
employers are confronting waves of retirements. In addition, many
are simultaneously facing shrinking talent pipelines, due to
declining enrollment in training programs and a shift in job seeker
interest from traditional jobs to more flexible remote and online
roles. As forward-thinking employers adopt new AI-based
technologies and sustainable practices, they have an opportunity to
appeal to new generations of talent by reimagining the jobs they
offer and helping candidates develop the skills they need to make
the leap.
- Skills-based hiring: Addressing staffing shortages while
building a more inclusive workforce. In just the past year,
major U.S. companies, as well as state and local governments, have
substantially rethought job requirements, removing the bachelor’s
degree as a requirement for most jobs. The proliferation of online
certification programs and pre-employment skills assessment tools
has given employers an alternative gauge of candidate quality.
Generative AI could also change the skills workers need. Early
research finds that giving non-technical service workers access to
generative AI tools boosts productivity most for the least skilled
workers, bringing them up to speed more quickly. That finding
suggests that, rather than displacing less educated workers,
generative AI could make them more productive and valuable,
lowering barriers to entry and increasing opportunity while
relaxing the labor supply constraint holding many businesses
back.
Additional Workplace Trends
Alongside trends in new technologies, we are also seeing an
evolution in workplace norms. Whether they’re facing a wave of
retirements or struggling to hire workers for onsite roles,
companies across the industries explored in the report are
increasingly investing in creative and innovative offerings to
attract and retain talent.
- Workplace innovation: Competing for talent with remote,
hybrid, or reimagined workplaces. Remote roles on ZipRecruiter
continue to attract vastly more applicants than similar roles in
more traditional settings. The enduring popularity of remote work
presents opportunities for employers in business services and other
industries where it is feasible to offer flexibility, work-life
balance, and autonomy. It also creates an imperative for
traditional onsite employers to differentiate themselves by
fostering a thriving team environment and competing on schedule
flexibility, pay, and benefits. Before tech companies shifted to
remote and hybrid models during the pandemic, they had been at the
forefront of transforming traditional offices into innovative and
employee-centric work environments. Increasingly, schools,
hospitals, and warehouses, struggling to recruit and retain
workers, will face pressure to adopt bold new standards for
workplace design and employee experience.
- Responsive workplace benefits: A corrective to recent
challenges. Employers are increasingly using employee benefits
as key recruitment differentiators, advertising them more
frequently in job postings, and in greater detail. Mentions of
benefits of many kinds rose broadly in job postings on ZipRecruiter
over the past year, even as advertised wages were relatively flat.
The fastest-growing benefits were sick leave (offered in 252% more
job postings in 2023 than 2022), and student loan repayment
assistance (+64%). The former is largely a reaction to the recent
experience of the pandemic, and the latter is a response to rising
job seeker and employee concern about the college affordability
crisis. By following social trends and responding to employee
concerns and challenges, employers have an opportunity to broaden
their appeal and relevance.
To read the report in its entirety, visit ZipRecruiter’s
Economic Research website at ZipRecruiter-Research.org.
About ZipRecruiter
ZipRecruiter® (NYSE:ZIP) is a leading online employment
marketplace that actively connects people to their next great
opportunity. ZipRecruiter’s powerful matching technology improves
the job search experience for job seekers and helps businesses of
all sizes find and hire the right candidates quickly. ZipRecruiter
has been the #1 rated job search app on iOS & Android for the
past seven years1 and is rated the #1 employment job site by G2.2
For more information, visit ziprecruiter.com.
1Based on job seeker app ratings, during the period of January
2017 to January 2024 from AppFollow for ZipRecruiter,
CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster. 2Based on
G2 satisfaction ratings as of December 18, 2023.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240118108423/en/
Claire Walsh, Press Relations press@ziprecruiter.com
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