Todd Reimer’s Post

I always like to review my previous predictions for hits and misses. The hits! - More experience/entertainment based jobs. See: Golden Retriever happy hours in Vermont. - More collective action/bargaining. See: over 30k jobs re-added after UAW and SAG strikes resolved. - Perks out. KPIs in. See: perks (outside of family related ones) on the decline. The misses! - I knew the demographics would be in our favor but didn’t anticipate the labor market staying as tight as it has this year overall. Government, healthcare and hospitality kept raging (see: household credit card debt...). - I thought there would be more unique movement in data spaces specifically around collection and compliance this year. Let's chat 2024 hiring trends on 1/16:

I write Copier Careers' monthly newsletter and October's topic is pretty interesting 😊 Labor Shortages Are the New Normal They’re calling it the “Forever Labor Shortage” and it’s here to stay. Why? Demographics. In short, the US labor force participation rate is dropping and will continue to decline in the coming decade. Though many Baby Boomers are unable to retire, putting off retirement or un-retiring, they will eventually and inevitably leave the workforce. There are simply not enough workers to replace them when they do. Millennials surpassed Baby Boomers as America’s largest generation mid-2019. But at their current size of approximately 72.24 million, US Millennials are 6.5 million short of the Boomer peak of 78.8 million in 1999. According to the US Census, by 2029 all Baby Boomers will be 65+ years’ of age and either already retired or hoping to retire soon. The US Bureau of Labor Statistics reports the peak US labor force participation rate was 67.4% in 2000. By pre-pandemic 2019, this rate fell to 63.3%. In 2022 the participation rate dropped to 62.2% and is projected to be 60.4% by 2032. That’s a 7% drop in 30 years. Read the rest:

Labor Shortages Are the New Normal They’re calling it the “Forever Labor Shortage” and it’s here to stay. Why? Demographics. In short, the US labor force participation rate is dropping and will continue to decline in the coming decade. Though many Baby Boomers are unable to retire, putting off retirement or un-retiring, they will eventually and inevitably leave the workforce. There are simply not enough workers to replace them when they do. Millennials surpassed Baby Boomers as America’s largest generation mid-2019. But at their current size of approximately 72.24 million, US Millennials are 6.5 million short of the Boomer peak of 78.8 million in 1999. According to the US Census, by 2029 all Baby Boomers will be 65+ years’ of age and either already retired or hoping to retire soon. The US Bureau of Labor Statistics reports the peak US labor force participation rate was 67.4% in 2000. By pre-pandemic 2019, this rate fell to 63.3%. In 2022 the participation rate dropped to 62.2% and is projected to be 60.4% by 2032. That’s a 7% drop in 30 years. What does this mean for the Office Solutions and Technology Industry? Our channel has been close to zero unemployment for a decade. Even before the pandemic, most dealers have been running lean with no backbench, no margin for worker attrition. Though they missed out on opportunities whenever there was an empty seat, they could mostly get away with it. This time is well passed. Now it can take months to fill an opening while some key positions simply cannot be replaced. Companies are losing their institutional knowledge before their leaders can pass it on. Plans for growth are stymied as teams have to scramble just to maintain their expected level of service. They leave money on the table because no one is there to pick it up. This industry’s strength is historically its people, its “human capital.” Now, the qualified workforce is seriously bottlenecked. Many employers are still ignoring this core problem and writing off their hiring difficulties as “people just don’t want to work anymore.” It’s time to wake up and make changes because your business depends on it. Employers must commit to fixing their broken hiring supply chain and adapting to our current market!

👴 Many companies are now hiring older workers because they believe they have a stronger work ethic than younger employees. Surveys show that a high percentage of seniors value hard work, and businesses are recognizing the benefits of their experience. As a result, the number of older workers in the workforce is growing. #seniors #jobs #workplace

How are your emerging leaders learning how to manage and mentor digital natives? Partnering with Genesys Works Twin Cities is a great way for your emerging leaders to build the skills they need to manage and mentor the workforce of tomorrow. #workforcedevelopment #twincities #businesssoutions

You can learn something from babies if you get past the fact that they don't know a lot about the world as we know it. Seeing how babies operate has given me an upgraded perspective, and here's how: 💓 Babies love and deeply depend on those around them. My network has been incredibly receptive when I've asked for help and that's where solid opportunities come from. How are you leveraging those people who can help you make connections? 😤 Frustration creates a drive to accomplish. My baby tries to crawl three inches forward and gets frustrated, but she's rewarded when she gets there eventually. I try to reframe failures as this kind of a struggle which has a positive ending. How are you harnessing your frustration? 🌞 Smile and appreciate the simple things. Watching a baby in the potted plant phase (you just sit them wherever and they stay) enjoy a bath is pretty magical. It's simple fun in the water playing with simple toys, but it's amazing and restorative to observe. What simple things do you appreciate? Be a baby. Maybe it will change your perspective. _____________________________________________________ If you're part of my network and see this, keep an eye out for me for open positions including: training, employee development, general HR functions, change management, program/project management, and more : ) _____________________________________________________ #hiring #opentowork #BeABaby #jobsearch #recruiters #recruiting

2024 Talent Trend: Kids! This year I have been connecting with more and more young talent (5 to 7 years of experience) who are having children! I'm not sure if this would be reflected in Census Bureau surveys, but if I had to estimate 3 in 10 candidates I connect with have either had a baby within the last 6 months or are planning to have one in the next 3 months. What does this mean for hiring teams? It will be important to message flexibility with hybrid work or flexibility to have working hours outside of the normal 9 to 5. Benefits are also becoming a huge topic of discussion as these new parents consider opportunities. Hiring managers, be prepared to verbalize how you can support these young parents while still providing a great career opportunity. #talenttrends #hiring #finance #accounting

Hopping from one job to the next, Gen Z is changing the future of work for good 🐰🔮 Job hopping used to be an immediate red flag for recruiters, but those days seem to be over. Whilst the older generation of Baby Boomers spend an average of 8 years with one company, Gen Z only stay for just over 2 years. Now, employees aren't afraid to take control of their careers and shop around for new opportunities that meet their professional goals. What are your thoughts on the future of job hopping? 💬 #Recruitment #JobHopping #GenZ #EmployeeRetention

Hit 58 and call it quits. That's the advice of surveyed companies when asked about candidate age. They don't plan to hire anybody 58 years or older. They point to "cultural fit" and "energy" problems. They say Boomers and lots of Xers just won't be good co-workers with today's youthful crowd. So, retire, move aside, take a hike. If you are in the job market and find yourself being discriminated against because of your age, consider starting your own company and becoming a solopreneur. Sell your services back to the management of companies that appreciate your expertise and skills and need you for temporary projects. Skip around the kids in HR who gasp loudly and toss your resume in the trash after seeing the year you graduated college.

We need to look more closely at the number of expecting and new tech worker moms being laid off right now. There’s been discussion about how tech companies laying off expecting and new moms isn’t illegal because of an assumption that such layoffs likely aren’t happening because women are pregnant or on maternity leave. The assumption is that because so many others are also getting laid off—that it’s not solely moms losing their jobs—it can’t be true that they are being illegally targeted. But do we have data to back up such an assertion? Can we definitively say that tech workers who are pregnant or on maternity leave aren’t being laid off at more accelerated rates than others? As I write about in the below #fastcompany article, we can’t. https://lnkd.in/gGKpJdqV #pregnancydiscrimination #womenintech #layoffs