As of November 1, 2024, the U.S. Bureau of Labor Statistics (BLS) released its Employment Situation Summary for October. Often called “the jobs report,” it revealed a cooling labor market, with only 12,000 jobs added last month. Despite this, the unemployment rate held steady at 4.1%.
For employers, a slower labor market can offer silver linings. The BLS’s October Job Openings and Labor Turnover Summary reported just 3.1 million Americans quit their jobs in September — the lowest number in over four years. With more employees staying put and fewer job openings, organizations may face less competition when hiring.
If your business is considering adding employees, here are three hiring trends to watch in 2025.
Today’s job seekers are hunting for more than just a paycheck. According to a recent study by Hiring Lab, the research arm of Indeed, 59% of U.S. job postings mentioned at least one employer-provided benefit as of May 2024 — up from just 40% in early 2020.
This data highlights the growing importance of benefits in attracting talent. While traditional offerings like health insurance and retirement plans remain staples, job candidates increasingly evaluate postings for unique perks that match their needs. Consider featuring standout benefits, such as flexible schedules, wellness stipends, or tuition assistance, in your job ads to appeal to the right applicants.
Artificial intelligence (AI) is revolutionizing recruitment, and the latest innovation is chat-to-apply bots. Unlike older, clunky application tools, modern bots can engage with candidates in natural conversations — even recognizing misspellings and synonyms.
These bots offer convenience for both employers and applicants, operating 24/7 and working seamlessly on mobile devices. Imagine candidates applying for jobs as casually as ordering a pizza. Chat-to-apply bots can:
However, chat-to-apply isn’t for everyone. Some job seekers may distrust AI-driven processes or find the experience impersonal. There’s also the ongoing concern that AI tools, despite advancements, could unintentionally filter out qualified candidates.
With hiring slowing nationwide, many employers are focusing on reskilling their existing workforce. This strategy involves training employees for new roles or equipping them with skills to expand their current responsibilities.
A survey by The Harris Poll for Express Employment Professionals found that 68% of hiring decision-makers plan to reskill employees in 2024 — an 8% increase from 2021. The shift reflects a growing emphasis on maximizing existing talent, especially as training resources become more accessible and affordable.
While reskilling offers numerous benefits, it’s not a one-size-fits-all solution. Factors like employee burnout, work/life balance, and the financial and time investments required for training must be carefully considered.
Deciding whether to hire, reskill, or hold steady is a significant financial decision. Adding employees can alleviate workloads but risks mismanagement if done hastily. On the flip side, relying too heavily on your current team without reinforcements can lead to burnout and reduced productivity.
If your organization is weighing the costs and benefits of hiring versus alternative strategies, we can help. Contact us for insights into your employment expenses and guidance on aligning workforce decisions with your business goals.
If you have any questions about this content, or if you would like more information please contact Jeff Wilkie, Principal of the HoganTaylor Talent practice. More information is also available on the HoganTaylor Talent page of this website.
INFORMATIONAL PURPOSE ONLY. This content is for informational purposes only. This content does not constitute professional advice and should not be relied upon by you or any third party, including to operate or promote your business, secure financing or capital in any form, obtain any regulatory or governmental approvals, or otherwise be used in connection with procuring services or other benefits from any entity. Before making any decision or taking any action, you should consult with professional advisors.