The pandemic 'will change how hiring is done forever,' says CEO of jobs website Indeed
Remember job interviews pre-pandemic? The jitters, the choosing of just the right suit, the race to get there early, maybe even the drive across town or flight across the country for a shot at a new opportunity?
Like most everything else, the pandemic changed that dynamic. The jitters may remain, but in-person meetings are largely off the table, interviews among them. The CEO of one of the most-trafficked jobs websites says it's likely to stay that way even after people get back to the office.
"People being able to conduct an interview from the safety and convenience of their own home is going to change hiring forever," said Chris Hyams, Indeed CEO, in an interview with Yahoo Finance Live. "We believe this is the beginning of a massive secular shift."
"In April, we saw the number of requests for interviews to happen over video shoot up by 1,000%. Even as things have started to stabilize and the economy has opened up over the last 11 months, we've seen that continue to grow," Hyams said.
The jobs picture overall has been improving with 379,000 workers added in February, although the U.S. economy still has almost 10 million fewer jobs than it did before the coronavirus pandemic took hold. Economists have been revising their employment and GDP forecasts are higher. Goldman Sachs Chief Economist Jan Hatzius, for example, wrote in a report this week that the jobless rate would fall to 4.1% by the end of 2021, from 6.2% last month.
Hyams has been seeing similar encouraging signs on Indeed, with postings on the site already lapping where they were pre-pandemic. "On Indeed, when we look at new job postings and our benchmark pre-pandemic of February 1, 2020, at the end of this February we were up 5% year-over-year. That's still with entire sectors completely shut down," he said.
As for where the hottest demand lies for new jobs, Hyams pointed to e-commerce-related occupations including logistics, warehousing and delivery, as well as jobs in health care and pharmacy.
While some of those openings may require showing up regularly in-person, many will not, which again feeds into Hyams' thesis that interviews will remain virtual.
"If you're going to be a remote worker, interviewing over video actually makes a whole lot more sense. It's more convenient. It will cut down on travel," he said.
That means many interviewees can continue to pull their blazers and ties out of the closet — along with their sweatpants.
Julie Hyman is the co-anchor of Yahoo Finance Live, weekdays 9am-11am ET.
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