Post-Election Markets Add Pressure for Talent Acquisition Readiness

Many businesses attributed their slow decision-making over the past year to a wait-and-see stance in anticipation of the November presidential election. Economic expectations for the new administration raise additional questions from hiring organizations.

Will it be easier to hire workers?
Will demand for business rise, increasing pressure on companies to find talent quickly?
How will employer responsibilities change?

Recent headlines, statistics and predictions are already beginning to reshape the workforce outlook.

40% cuts in sourcing from China announced by a major shoe retailer.

Potential tariffs are already spurring action, as major shoe retailer Steve Madden announced reduced sourcing from China. Offshore work and the sourcing of goods may shift to the US or other global locations.

100,000 federal employees may be relocated outside Washington, DC.

The Trump administration moved workers during its previous term. In 2018, when the Bureau of Land Management headquarters was moved to Colorado, 80% of impacted workers declined to transfer. Larger scale relocation efforts or workforce exits may shift talent supply and demand by geography.

Roughly 14% of the US workforce consists of non-employee talent.

This figure encompasses contingent workers, independent contractors, on-call, temp agency and SOW contractor talent, according to rough estimates by the US Bureau of Labor Statistics. From worker classification rules to white-collar overtime and DEI, companies face changing conditions that will reframe their strategies. Employers may find it easier to classify workers as independent contractors, making flexible and contingent labor more attractive.

Sevenstep Viewpoints

How can HR and procurement teams collaborate to create a flexible talent strategy?

During a recent webinar, Penny Burnett, TA Director at TK Elevator, and Michael Pattenaude, Director of Strategic Sourcing at BNSF Railway, shared how Sevenstep helped them bridge talent gaps, scale hiring quickly and deliver strategic workforce advantages.

Our View

Plan to compete for high-value, skilled talent.

The balance between talent supply and demand remains high, particularly for high-value talent with skills in emerging technologies and fields. Any easing of policies and regulations is likely to increase competition for workers by making them more accessible to employers.

Reassess job requirements and hiring expectations.

A flexible talent acquisition (TA) strategy enables hiring organizations to pivot toward the optimum talent for the work to be done. This may involve adjusting job requirements based on the availability of permanent versus flexible workers, considering global or domestic hiring conditions, or responding to other evolving factors.

Expand data input and expertise to inform your TA approach.

Predictive workforce intelligence lets you navigate shifting demands, volumes, costs and locations. Enlist a tool like our Sevayo® Insights data aggregation platform, which incorporates inputs on global events, economic trends and policy impacts to inform talent supply decisions and analytics.