5 Job Market Trends to look out for in 2024

The world of work is constantly evolving and staying ahead in the job market means keeping an eye on emerging trends, buoyant industries and preparing accordingly. Whether you are planning a future move, or actively job searching, here are some predicted job market trends and how job seekers can adapt to succeed in a modern job market.

The Rise of AI

It is likely Recruiters, agencies, and internal recruitment teams will continue to use Applicant Tracking Systems (ATS) and AI in their recruitment processes. Therefore, it is essential job seekers embrace AI and not fear it. To increase your chances of being shortlisted, you will need to tailor their CVs and LinkedIn profiles ensuring they are keyword rich to comply with ATS and to rank higher in search results.

• Websites such as Jobscan provide job seekers an instant analysis of how well their CV and cover letter are tailored for a particular job and how they can optimise their application materials to combat applicant tracking systems (ATS)
• ChatGPT is a powerful AI chatbot that can answer a wide range of questions as well as writing a CV, creating an elevator pitch or a compelling interview response.

However, remember ChatGPT isn’t updated in real time, some of its responses can be quite generic. It should be used with caution and as a starting point and it shouldn’t be the only source you rely on when prepping for an interview or conducting research.

For further information, this article highlights the positives and negatives of using Chat AI as part of your career transition Using AI in your Job Search.

Digital Skills

There is an expectation that as automation and artificial intelligence will continue to advance, digital skills will also be in high demand. Job seekers with proficiency in areas like data analysis, coding and digital marketing may have an advantage in the modern job market.

If you are looking to change direction, exploring routes to upskill may increase your chances of getting hired.

• National Careers Service - Tool Kit provides free courses to help you to learn new skills or change jobs. Including general skills that apply to all sectors and more specialised skills.
• The Open University offers 1000 free courses across 8 different subject areas from business to digital & computing.

If you are job searching and notice you have some skills or knowledge gaps, try to identify free courses or training online to support you to bridge those gaps and increase your chances of being shortlisted.

Green Skills

According to Total Jobs, we expect to see an increase in Green Jobs and Green Skills in demand in 2024. More job descriptions across different industries are using phrases related to sustainability, corporate social responsibility and environmental. Industries requiring these skills include Manufacturing, Finance & Accounting, IT & Telecoms, Legal and Transportation & Distribution sectors.

For example, carbon accounting or sustainable investing are green skills employers look for in the Finance & Accounting sector.

For job seekers looking for roles in demand, the Green Careers Hub provides lists of industries and green job role profiles and you can find more opportunities on job boards including GreenJobs.co.uk

Demand of temporary workers and contractors

With companies cautiously hiring, we may expect to see a rise in the number of roles being recruited for projects or short-term opportunities.

Contractor UK noticed the demand for IT contractors increased in August 2023 for the fourth month in a row - to its highest level since April 2023.

These types of roles may not be advertised due to the fast turnaround expected. If you are job searching, identify recruiters or companies who hire contractors and make yourself known to them. Whether that be through connecting with them on social media or making proactive approaches, also look for people in your network who work in this way for further advice or guidance.

Review of Hybrid & Remote Working

The COVID-19 pandemic accelerated the adoption of remote work. Even in a post-pandemic world, remote and hybrid working continues. However, it is expected that more companies moving into 2024 will be re-evaluating their working flexible working models to determine what’s best for their business, its customers and also employees.

If you are job seeking, researching the company and understanding their policy will be essential to make sure it’s the right move for you. Companies may insist on a presence in the office at least 1-2 days a week, so you will need to consider if this can work for you. You may want to consider organisations with multiple offices where there could be an opportunity to hot desk or work from anywhere.

Renovo is the UK’s leading outplacement and career transition specialist. We work with both organisations and individuals to support all their career transition requirements. If you would like to understand how Renovo can help you please email info@renovo.co.uk.