Shifting Paradigms: Salary Transparency and Work Dynamics

We’re talking about the job market and the job search for 2025 – a forecast, coupled with some how-to’s.

These seem to be universally accepted as the expectations for the 2025 job market:

• Cooling Down: The job market is cooling down from the post-pandemic boom. Hiring has slowed, and competition for jobs is increasing. Low rate of voluntary quits continues, but there is the possibility that it will shift back to a job seeker’s market in 2025.

• Resilience: Despite the slowdown, unemployment remains low, and the economy is still relatively strong.

• Labor Shortages: Several industries continue to face labor shortages, particularly in low-wage and in-person roles.

·       Diverse Strategies to Address the Labor Shortage:

-40% of managers plan to engage contract professionals to fill skills gaps

-39% will work with a managed services provider for critical initiatives and functions.

-Contract professionals

-Project consultants

- Managed services providers

• Skills Focus: The demand for skills like technology, data analysis, and healthcare will continue to grow.

·       Demand for Soft Skills: As the job market shifts, there has been a greater importance placed on soft skills. Soft skills are becoming more sought after, since 79% of leaders believe the longevity of technical skills is limited to five years or less. 

·      AI Impact: Artificial intelligence is increasingly impacting the job market, automating some tasks while creating new roles that require skills in AI and related fields. AI also changes the skills employers need, shifting demand from repetitive tasks to critical thinking and technical expertise.

• Focus on Upskilling and Reskilling: Workers will need to continually upgrade their skills to remain competitive in the changing job market.

·      Increased Salary Transparency: Pay transparency in job postings has more than doubled since 2020. According to Indeed Hiring Lab, more than 40% of US job postings now include employer-provided salary information. In 2025, even more job postings will list the salary range to attract qualified talent. 

·      Remote Work: Remote work options will likely continue to evolve, with many companies adopting hybrid models. According to HR Executive, 33% of U.S. employers required full-time in-office work in 2024. This number is expected to increase, but not exceed, 50% in 2025.

• Increased Focus on Employee Well-Being: Companies are increasingly prioritizing employee well-being, offering benefits like flexible work arrangements and mental health support.

·      Skills Over Degrees: Employers are increasingly shifting their focus from traditional credentials, like degrees, to skills-based hiring. This shift allows for a more diverse talent pool and gives candidates without degrees a chance to prove their capabilities through relevant skills.  The rise of certifications and nontraditional educational pathways has significantly influenced this shift. 

What all of this means for your job search in 2025:

• Develop in-demand skills: Identify and develop skills that are highly sought after by employers. Invest in certifications and training from reputable organizations.

• Network: Build and maintain strong professional relationships.

• Customize your resume and cover letter: Tailor your application materials to each specific job.

• Prepare for interviews: Practice your interviewing skills and research potential employers.

·      Stay Informed: Follow economic and industry updates. Staying informed enables you to anticipate changes rather than react to them. Focusing on trends in your specific industry can also help you identify skill gaps and align your expertise with future demands. This is especially important if you have been out of work for a while.

·      Wage Expectations: Generally, wages haven’t kept up with inflation. Do your homework and set reasonable expectations for compensation.

• Expect a Poor Candidate Experience:

-Ghosting: Companies often fail to communicate with applicants throughout the process, leaving them feeling undervalued and frustrated. 

-Lengthy Processes: Time-consuming applications and multiple rounds of interviews can deter qualified candidates. 

·      Don’t Take on Your Job Search in 2025 Alone

Marketing Documents – Skills - Mindset

My sources for this episode: Bureau of Labor Statistics, Meritamerica.com, insightglobal.com, roberthalf.com

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