Increasing Job Market Competition

The job market in the United States is projected to become increasingly competitive, with job openings possibly rising to between 15 and 20 million. The ongoing trend of the 'great resignation' is expected to exacerbate this, particularly among younger workers who are changing jobs at higher rates, while many older individuals opt for retirement. This shift means that employers will need to enhance their employment brand, focusing on aspects such as employee experience, well-being, and a human-centered leadership approach. The urgency for organizations to hire for fit rather than just experience, along with fostering internal mobility through tools like talent marketplaces, has never been higher.