All job seekers who are planning on changing career path should look at Human Resources jobs listings before re-entering school to complete a degree program. For some, the idea of a career transition is terrifying. For others, change is welcome and necessary. Anyone who would like to work in Human Resource Management or in another role within the HR department should know the outlook in the field first. Here’s what the Bureau of Labor Statistics (BLS) projects outlook to be like in the upcoming years:
Job Outlook Varies By Position
There are so many different titles within the HR field that it’s difficult to really assess overall outlook. While one could average out all of the projections for each title, some numbers are dramatically different from others which makes affects how accurate projections are.
Anyone who is researching whether or not it’s beneficial to return to school to enter a field based on the outlook projections must first have an idea of what they would like to do. Not only does this help to specialize a person’s degree, it also helps to do a thorough and accurate cost-benefit analysis.
Overall Outlook and Unemployment Rates
Looking for each individual position and how the available positions will change in the upcoming decade will help all prospective students get a good picture of how employment is trending in the field. Overall, according to the HR Certification Institute, the outlook in the field as a whole is going to be robust. HRCI states that the unemployment rate for managers is low and the field will grow by 9% by 2024, which is higher than the national average.
What is the Job Outlook by Title?
The HRCI uses data that is collected by both the BLS and Randstad recruiters to forecast the upcoming need for professionals. Out of the estimated 50,000 HR professionals that are hired each year, demand for HR Managers is believed to be in the highest range with the outlook projected to grow by 10%. Others projections include:
- HR Generalist – projected growth of 8% between 2016 and 2026
- Compensation and Benefits Manager – projected growth of 5% between 2016 and 2026
- HR Specialist – projected growth of 7% between 2016 and 2026
Factors Affecting Job Prospects
HR professionals are needed in essentially all industries. This is why it’s a position that seems to remain in demand even when the outlook for employment in the nation as a whole is dropping. Still, there are a variety of factors that can affect job prospects for qualified applicants searching for human resources jobs. Some of those factors that could affect a graduate’s ability to find positions include:
- Level of education
- Human Resources experience
- Industry desired
- Number of students graduating with related degrees
- Number of employees retiring
The employment outlook is directly affected by the nation’s economy. Since economic performance is on the mend, the trends indicate that there will be job growth in the field of Human Resources. Since it’s a much more versatile field than it was in the past, it’s important for job seekers to advance their education before starting to apply for human resources jobs that are in high competition.