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The year 2022 will always be known as the “Rebound Year” where businesses globally embarked on their journey to recovery after two years of Covid hiatus. With both employers and employees changing priorities, the traditional workplace does not seem to exist. In a major announcement, Google and Twitter extended the work from home option indefinitely for employees. Similarly, Facebook advertised open positions with work-from-home availability.
A recent survey identified that major priority shifts characterise the “New Normal”. Whether it is employee benefits, healthcare, or a change in job roles. Recruitment strategies underwent significant changes in the last year due to many factors. The days of giant organisations having the upper hand in hiring are long gone, as more candidates are choosing to work for smaller, frequently more agile companies that are more responsive to the demands of their employees.
Recruitment ecosystem in 2022
Due to a significant periodic surge in hiring during 2021-22 resulted in a candidate-driven labour market. This implied that qualified candidates had more freedom than before and could frequently choose between many offers while establishing their terms for pay and perks. The practice of counter-offers became more prominent.
A side effect of the candidate-led market is that an increasing number of professionals are rethinking their existing roles and moving on to fresh pastures, keeping in mind the enormous number of open positions. This phenomenon, known as the “Great Resignation,” has risen sharply in the past year and is likely to continue to gain momentum until businesses step up their efforts to reward and retain their current employees.
Thanks to a dynamic business environment, many organisations depend on data even for their recruitment plans. Real-time metrics evolved to give deep insights into overall recruitment requirements to keep the overhead costs low while bringing the best talents for long. Remote/hybrid working developed as an accepted way of working.
Candidates are expecting more from their prospective employers. They have opinions on brand values, CSR, and the environmental impact of businesses and their portfolio. It is more crucial than ever for companies to lay out a clear vision for their principles, especially issues like carbon reduction and workforce diversity etc.
What to expect in 2023?
One of the most visible hiring trends of the year would be organisations pursuing passive candidates quite aggressively. When hiring for C-suite executive roles, this has long been a standard procedure, but it was rarely employed when filling openings for entry-level positions. Proactive human resources will get in touch with candidates frequently and early in the hiring process. In an effort to persuade these candidates to apply for jobs with their company rather than one of their rivals, they will try to establish a rapport with them early on.
The adoption of sophisticated screening techniques comes next on our list of developing recruiting trends. While many evaluation tests are already in place, expect more advanced screening tools in recruitment in the next few months. Skill tests, behavioural tests, attitude, and personality assessments will be more prominently used by companies for their recruitment.
In 2023, there will be a rise in the number of persons looking for flexible employment who are prepared to give up the security that comes with a full-time position. An interim employee strategy offers many advantages – individuals that opt for temporary or contract work are frequently highly skilled, goal-oriented, and project-based professionals who readily adapt to new situations. They can contribute the distinctive skill sets and experiences needed for short-term projects through mergers and acquisitions or to temporarily fill responsibilities either during a leave of absence or while the organisation looks for a permanent employee.
The ability to work when most convenient and take care of personal obligations as needed will attract more candidates to organisations that support work-life integration. Watching the clock will become less crucial as managers judge employees’ success based on their productivity rather than how long their workdays are.
Even if your hiring process was effective last year, there is no assurance it will be effective this year or the year after, especially in such a volatile environment. Organisations must craft policies – demand planning, removing silos, and greater collaboration amongst business leaders.
As businesses start to make more thoughtful choices that have a lasting impact rather than hasty hires to fill seats, hiring is expected to slow down. A measured approach to recruitment will be the key highlight of 2023.
"An article originally published in Voices, Business, TOI by Sidharth Agarwal"