HIRE Technologies Provides 2022 Human Resources Industry Outlook
HIRE Technologies Inc. (OTCQB: HIRRF) released its inaugural HR Industry Outlook for 2022, emphasizing eight priorities for HR leaders amid ongoing challenges. CEO Simon Dealy highlighted the pandemic's transformative impact on talent management, promoting a focus on employee engagement, development, and retention beyond compensation. Key predictions include in-demand skills in AI, Cloud Computing, Data Science, and more. The report identifies critical trends such as a talent shortage, hybrid work models, and the increasing importance of diversity, analytics, and employee wellness in shaping workforce strategies.
- HIRE's report reinforces its position as a thought leader in HR solutions.
- Highlighting in-demand skills aligns with emerging market trends, indicating potential growth areas for clients.
- The focus on diversity, inclusion, and employee wellness may enhance HIRE's reputation and client attractiveness.
- The ongoing talent shortage presents recruitment challenges that may affect HIRE's operational capabilities.
- Increased competition in the HR space could pressure margins and impact profitability.
TORONTO, ON / ACCESSWIRE / January 20, 2022 / HIRE Technologies Inc. (TSXV:HIRE.V)(OTCQB:HIRRF) ("HIRE" or the "Company"), a company focused on modernizing and digitizing human resources solutions, in collaboration with its portfolio companies, released its inaugural Human Resources (HR) Industry Outlook for 2022, outlining eight key priorities HR leaders should implement to address the complex challenges talent management executives are facing.
"The COVID-19 pandemic has transformed the business world, and its influence will continue to impact companies well into the future," said Simon Dealy, CEO of HIRE. "Now is the moment to embrace change and be ahead of the human capital trends that will impact 2022. It's not just about compensation when it comes to attracting great talent; it's also about focusing on what employees want in this new employment landscape and investing in their development and retention. As we strive to provide value to all our stakeholders in 2022 and beyond, we at HIRE are well positioned for these trends."
HIRE's Top 5 Predictions for In-Demand Skill Sets for 2022:
- Artificial Intelligence (AI) and Machine Learning (ML)
- Cloud Computing
- Data Science
- Software Engineering
- Sales and Digital Marketing
Highlights:
1. Talent Shortage
Recruiting and keeping employees has become more difficult in a variety of sectors because of talent shortages. Companies and recruitment agencies will continue to face challenges in the war for talent as the market becomes increasingly competitive. HIRE continues to observe that companies are seeking the best candidate regardless of location, which in turn provides new opportunities to candidates. HIRE believes employers need to be more creative in their approach to employee recruitment and retention, concentrating not only on compensation but also health benefits, hybrid work arrangements, and enhanced employee engagement initiatives.
2. Hybrid Work Model
Working from home has gone from an accommodative perk to being standard practice for many businesses. As a result, measures of job satisfaction have evolved, with a far greater weight on work/life balance. Employers have learned that remote/hybrid strategies come with several efficiencies and cost savings; and they work just as well, if not better, remotely. Remote work is here to stay, as companies continue to create systems and processes that accommodate this new paradigm.
3. People Analytics
Prior to the pandemic, 85 percent of HR professionals cited people analytics as crucial to the future of recruitment (see LinkedIn's Global Talent Trends 2020 study). The present climate of increased employee turnover and scarcity of resources prioritizes this topic. People analytics refers to data-driven and goal-oriented methods for analyzing processes and roles, and their relationship with delivering long-term outcomes. Decision making is improved by using statistics and other data interpretation approaches to collect and evaluate the alignment of objectives and key results relative to employee performance. With these analytical tools, companies may notice gains in several areas, including talent recruiting, employee retention, and performance; and they will better detect possible skill shortages.
4. Diversity and Inclusion
Employers are increasingly understanding the importance of diversity, equality, and inclusion; whether because of ESG commitments, the Truth and Reconciliation Commission's Calls-to-Action, or shareholder activism. Diversity and inclusion, especially at the senior management level, has been found to boost productivity, profitability, and stability. When evaluating career opportunities, employees are increasingly seeking an inclusive environment. Companies must assess their recruiting methods and seek support in attracting and retaining senior-level talent from diverse backgrounds.
5. Training and Development
Given the scarcity of resources and the fact that many organizations reduced their workforce during the pandemic, talent development and retention will be a major concern in 2022. With the continually changing competitive environment, employee skills and capability development is a critical component of any corporate strategy. HIRE recognizes that, although training and development are not new concepts, recruiting and keeping a more diverse and geographically dispersed workforce presents new challenges. Modern metric-based performance and productivity monitoring tools, as well as an emphasis on long-term rewards, may aid in employee retention while also identifying and nurturing future company leaders.
6. Employee Wellness
There have been numerous advances in the workplace when it comes to addressing mental health, and businesses are taking on new obligations in terms of employee care. The initial enthusiasm surrounding work-from-home has, in some cases, led to employee burn-out. HIRE believes employees want to work for employers who truly care for their wellbeing, so companies must evolve wellness programs if they wish to attract and retain high quality talent.
7. Automation and Artificial Intelligence (AI)
Continued advancements in AI are expected to push the limits of what is feasible during recruitment. Further adoption of AI has the potential to promote higher efficiency across the recruiting process and allow better alignment between applicant career goals and employer resource requirements. For recruiters, automating key administrative duties may save time spent on repeated work and help ensure the recruiting and onboarding procedures for all job prospects and new employees are consistent.
8. Business Growth in Specific Categories
HIRE believes job opportunities in the healthcare and information technology sectors are expected to grow in 2022. The demand for qualified healthcare employees continues to rise. Information technology has long been a high-growth industry, so given the shift to a hybrid workforce and growing dependence on remote infrastructure, this trend is projected to continue.
About HIRE Technologies Inc.
HIRE is investing in and shaping the future of human resource management with a technology-first focus, by consolidating and modernizing the staffing marketplace. The Company owns and operates staffing firms as well as platform technology that it uses to help those firms become more technologically advanced. The Company is a disciplined capital allocator due to its technology DNA and extensive experience in building and growing staffing companies of all types. HIRE has a large recurring revenue base and helps clients manage change in the workplace in order to achieve success. For more information, visit hire.company.
Contacts
Simon Dealy
Chief Executive Officer
(647) 264-9196
sdealy@hire.company
Caroline Sawamoto
Investor Relations
(647) 556-4498
investors@hire.company
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: HIRE Technologies Inc.
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FAQ
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