Key Insights in Professional Services Employment

professional services job trends in 2020
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Overview

The influx of new technologies has dramatically reshaped workplaces. With telecommuting, virtual offices, and the ability to meet in cyberspace, businesses can now improve productivity, efficiency, and business results online. At the same time, job seekers and recruiters are faced with a new hiring landscape, thanks to advancements in information technology, robotics, and other promising developments.

Technology is making high-value learning in the workplace possible. However, the impact of digital innovations on employment is not well understood. Read on to find out how technology is impacting professional services employment.

Industry 5.0

In the next industrial revolution, employees are expected to work alongside robots and smart machines. The trend is dubbed “Industry 5.0” or collaborative industries.

Collaborative industries emphasize the transformation of factories into IoT-enabled smart facilities. Likewise, they integrate computerized technology into the factory setting. Marrying the two will result in speed and accuracy within industrial automation. Nevertheless, it’s critical to maintaining the human touch within production processes.

Rapid changes are challenging the entire professional services industry to an unprecedented degree. For employees, Industry 5.0 could signify a shift in the work they are expected to do. Employees will have to learn more about collaborative robotics and human-machine interface.

There will be no delays, no labor disputes, and no heating or lighting bills. At the same time, some companies will create employee records for robots or AI applications. The net result is a better working factory, assembly line, or processing plant. The employee will be required to perform a precise task, such as dispensing liquids.

Social Media Recruiting

Social media recruiting involves the use of social networks to attract and convert talent. Savvy companies are using social media to aid their recruiting and hiring. That’s because social media is better for finding passive candidates. In fact, 92% of recruiters use social media in their recruitment efforts.

Sites like LinkedIn, Facebook, Twitter, and a handful of others offer recruiters an opportunity to advertise jobs, find talent, and communicate with potential recruits. LinkedIn remains the center of the social media universe for recruiters. It is the perfect place to reach candidates of different backgrounds, genders, and industries. However, recruiters have to do more to catch the attention of potential candidates who are focused on connecting with friends.

Effect of Coronavirus

America’s job market has been resilient for a decade. Unfortunately, COVID-19 changed that almost overnight. The pandemic has swept across the country, taking millions of American jobs with it. It has also changed the job search as we know it. For instance, recruitment has shifted online, and there’s no more handshaking at job interviews. The labor market effects will be felt acutely by new entrants. 

layoffs in the professional services industry due to covid 19

The rise in unemployment indicates that the damage is likely to be long-lasting. The full impact will not be felt until wage support schemes end in October. This will add to the structural changes that were already shifting labor demand prior to the pandemic. However, some countries are seeing some improvements. China and France, for example, have seen increases in hiring rates as shutdowns eased.

Mobile

Using mobile technologies in the hiring process is a growing trend in professional services. Mobile technologies are going to impact the nature of conventional employment dramatically. For instance, HR is starting to carve a niche for itself with mobile apps. Additionally, roughly half of job searches are being conducted on mobile.

Employees are no longer tied to a desktop to receive phone calls, emails, and work assignments. Instead, they are relying on the convenience of their smartphones and other mobile devices.

The Gig Economy Is Bearing Fruit

The term “gig” is a slang word for a job that lasts a specified period. Generally, the gig economy is where professionals are paid for providing on-demand services. Today, more than a third of Americans are working in the gig economy.

The gig economy is forever altering our business interactions in myriad ways. It has also shifted the way people work in the current economic landscape.

Globalization

Globalization explains how the economy of a country gets influenced by global economic change. Globalization has opened doors for companies to switch or expand locations. As a result, labor cultures in many countries have changed. 

Globalization affects employment positively in the long term. Another view is that national institutions act to maintain divergence in employment relations. That means workers who want to be future-proof need to appreciate the importance of globalization.

Another trend related to greater globalization is increased job specialization. This is where employees focus on one aspect of their career.

Personalization

Personalization is emerging as one of the top tech trends within the talent acquisition process. It provides a customized experience throughout the candidate’s journey. Employees want their jobs to mean something — they want to feel connected to a greater purpose. They also want personalized experiences, relevant messaging, transparency, and honesty. A lot of this push is coming from the millennial generation.

Personalization is emerging as one of the top tech trends within the talent acquisition process. It provides a customized experience throughout the candidate’s journey. Employees want their jobs to mean something — they want to feel connected to a greater purpose. They also want personalized experiences, relevant messaging, transparency, and honesty. A lot of this push is coming from the millennial generation.

Personalization in the workplace is becoming rooted as more employees choose to bring their own devices. It has allowed companies to switch to a more employee-focused workplace. This means that the relationship between employee and employer is more personalized than ever. At the same time, deep and meaningful personalization requires data from across enterprises.

Virtual Consultancies

Many virtual consultancies got their start when their previous employers went out of business. However, the traditional consultancy model with on-site teams is out of sync with today’s culture. Rather than being employees of the companies they sell services to, virtual consultants provide services for a business from a remote location. These consultants can spend several years working in a particular industry before becoming professional consultants.

Bottom Line

The professional services industry is undergoing a major shift. Skills are becoming outdated faster than ever. It’s necessary to recognize job seekers’ skills and qualifications to broaden their employment opportunities.

It would help if you had a reliable partner to guide you through these dynamic changes. Learn more about the latest trends in your industry on Lensa Insights.

Curious about jobs in the professional services industry? Sign up for your personalized job postings with Lensa today.

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