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12 Days of Insights: Business Trends and Predictions for 2021

December 16, 2020 | By Jeramy Gordon

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As we head into a more hopeful 2021, the team at Accurate Background has been sharing what we expect to happen in the new year and exploring the ways that 2020 has impacted the way we operate our businesses.  Leaders across our business have offered emerging business trends and thoughtful industry predictions, which have been shared through our social media channels. Below is a summary of our 12 Days of Insights, detailing what our leaders believe will shape the path into 2021 and beyond.

DAY 1

“What candidates are attracted to in a job is evolving. Many job seekers are prioritizing diversity, flexibility, and company culture now more than ever. Marketing your company’s mission, core values and beliefs will be more important than ever in 2021 and will be key in attracting and retaining diverse talent.” Laura Trotter, Chief Marketing Officer

Day 2

“Leadership planning has changed. The future of organizational planning will move from 3-5 year plans, to quarterly reviews and updates on those plans. Leaders will need to actively assess trends at a much faster pace.” Dan Shoemaker, Chief Revenue Officer

Day 3

“The passage of California’s Proposition 22, which exempts third-party delivery platforms from reclassifying drivers as employees, will inevitably diminish any future challenges to the prevailing gig economy model across the country, allowing people to maintain the flexibility and independence that draws so many to the industry.” Bon Idziak, Chief Compliance and Government Relations Officer

Day 4

“In 2021, more companies will adopt a skills-based approach to hiring, meaning candidates will be vetted on the strengths they bring to the entire team and organization, rather than a specific role. Companies will also seek to identify key transferable skills in candidates from different industries.” Cheryl Cerkoske, Vice President, Sales

Day 5

“The future of HR tech will be underpinned by Artificial Intelligence. AI can expedite the review of job applicants and resumes, match talents and pinpoint competencies, and even interact with promising candidates prior to formal interviews, reducing what has traditionally been the most drawn-out part of the hiring process.” Connie Suoo, Chief Technology Officer

Day 6

“With more millennials & Gen Z entering the workforce, leaders must understand that values and career priorities are different from previous generations. The younger workforce prioritizes work-life balance, flexible schedules & remote work options, and places a stronger importance on collaboration and feedback.” Sherri Davis, Vice President, Human Resources

Day 7

“Employees want to know that their company will stand up to injustice, promote inclusivity and respect diversity.   In 2021 we expect more companies will evolve their programs in these areas.   There will be a trend to have even more employee engagement to shape these efforts and have employees be a part of the decision making process. “ Aaron Hayes, General Manager

Day 8

“Employee privacy will emerge as a hot topic as we continue through the pandemic. Employers will need to balance the desire to improve remote workforce analytics and insights with a thoughtful and legal approach to the protection of employee privacy.” Dave Wheeler, Chief Legal Officer

Day 9

“Companies who spent 2020 developing talent pools will find their foresight and planning set the stage for success in 2021. While the economy has and continues to struggle with the ongoing pandemic, planning ahead for regrowth and establishing a strong talent acquisition plan should take a priority.” Devin Martinez, Vice President, Account Services

Day 10

“As the need to maintain a remote workforce shows no sign of abating in 2021, cloud-based technology allows you to redefine the workplace and is imperative to ensure a continuous process for employee hiring, onboarding, and people management. Expect a super-charged shift towards decision-making that combines AI and human judgment, the lines will blur between pre and post-hire models, and Virtual Reality finally goes mainstream as a means of evaluating your future workforce.” Dave Dickson, Chief Product Officer

Day 11

“COVID-19 has changed the benefits that employees value – now centered around health and wellness – physical, mental, financial health as well as the health of their loved ones and communities. In today’s climate, much of an organization’s success depends on employees trusting that their company is taking a holistic view of their well-being.” Katie Hartley, Vice President, Client Solutions

Day 12

“Remote leadership will be critical in 2021. As employees continue to work from home, and many companies evolve this into a permanent organizational structure, leaders must continue to find ways to connect and engage with the workforce regularly, using technology to its fullest potential. Corporate monthly emails won’t cut it – leaders will need to interact frequently to maintain a company culture that attracts and keeps its top talent.” Tim Dowd, Chief Executive Officer

Overall, the clear message as we enter into 2021 is one of change. We predict changes in the way businesses recruit, engage employees, and lead their teams. We will see these changes bring about an emphasis on legislation and technology, both needing to swiftly adapt to an evolved business landscape. And in the end, as we leave behind a year that brought a level of unpredictability which none of us have experienced before, let’s remember the words of Greek Philosopher Heraclitus, “The only constant in life is change.”

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