Power Tools & Tips For Workplace Leaders

Recruiting Trends
in 2020!

Business success depends on a variety of factors, and the recruiting trend landscape is no exception.

The unemployment rate hovers at a record low of 3.5%, a number that has steadily decreased every year since the height of the 2008 financial crisis. A low employment rate brings its own set of unique challenges for recruiting. A slow time to hire means recruiters will need to compete for top talent and recruiting tactics will need to be increasingly innovative.

Here are six things to be on the lookout for in 2020:

A competitive hiring market means offering perks to employees, including one that’s increasingly prioritized by job seekers: flexibility.

Offering flexibility as a job perk, i.e., allowing employees to work some time from home and other hours at the office, can help you gain an advantage versus businesses offering positions that do not include flexibility. Flexibility, of course, can depend on the type of job and technology involved.
Hiring Outside Your Target Market

The shortage of workers who are traditionally qualified for specific jobs means employers will continue to look outside their traditional target markets. This means hiring will not necessarily be based on prior job experience, but based on the candidate’s potential for growth and the ability to be trained on the spot. 

Employers will also need to look for skills they think will help prospective employees easily adapt to the responsibilities of the job otherwise known as transferable skills. Transferable skills can include things like dependability, strong communication skills, organization, adaptability and leadership.
Video Recruiting

Video has been increasingly used by organizations in their recruiting processes to convey what tasks the job entails and to showcase the organization’s culture, mission and values. Use of video can help organizations speak to prospects remotely, record interviews for feedback from other team members and assess personality traits.
Collaborative Recruiting

Building your business through networking and current co-worker connections is a great tactic that can bring quality team members to your organization. An employee referral program that provides incentives to employees who recruit people they know can be highly beneficial to both employer and employee. 

Technology is becoming increasingly more capable, and digging through each resume manually is becoming a thing of the past for large organizations. For example, use of an Applicant Tracking System (ATS) can help facilitate candidate screening, interview scheduling and skills analysis. 
Diversity Hiring

In 2015, a study performed by the consulting firm McKinsey & Company found that companies with greater racial and gender diversity were 35% more likely to have financial returns higher than their respective industry medians on a national basis. 
Whatever recruitment tactics organizations choose to integrate in 2020, methods will ultimately be at the mercy of the job market and the global economy.

While we can’t predict the future of the economy, we can guarantee this: Recruitment will be defined by innovation and technology. The organizations that embrace both will have greater success at recruiting the right employees for the long haul. 

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W-2 Forms
According to the Internal Revenue Service, W-2 forms should be mailed out to employees by no later than  January 31, 2020  for forms derived from the previous calendar year. While employees may not receive them in the mail on this date, they must, at the very least, be sent out at this point.

ACA Reporting
The IRS announced that the deadline to provide employees with the  Form 1095-B  has been delayed from January 31, 2020 to  March 2, 2020 . The forms, which outline employer-provided medical benefits, must be submitted annually by businesses with  50 or more full-time workers . The IRS uses these reports to track employer compliance.While the penalty for individuals not having insurance has been repealed with last year's  tax reform  law, employer mandate penalties remain in full effect for businesses.

EEO-1 Report
The Equal Employment Opportunity Commission (EEOC) has announced that the deadline for filing the 2019 EEO-1 report is  March 31, 2020 .The Act mandates that employers report on the racial/ethnic and gender composition of their workforce by specific job categories. Federal regulations require that all employers in the private sector with  100  or more employees, and federal contractors and subcontractors with  50  or more employees and a federal contract or subcontract amounting to $50,000 or more, file the EEO-1 report annually.
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