Trends To Watch Out For In The Hiring Industry For 2023
Let’s look at some recruitment trends that might shape the hiring industry for 2023.
One business function that gets immediately impacted by any changes in business or economy is recruitment. Accelerated by the post-two-year hiatus of the pandemic, it can be challenging to match up with new business requirements that end up soliciting different skill sets and experiences every few months. The importance of recruitment cannot be understated, and thus, it has gradually implemented
new techniques to support the organisation’s growing mission and vision continuously.
With the rumours of funding winters and slow economic growth, will recruitment continue the way it did in 2022 or change gears to match up better with the dynamic business scenario? Let’s look at some recruitment trends that might shape the hiring industry for the coming year.
REMOTE RECRUITMENT
The Covid-19 outbreak has compelled businesses to reconsider how they handle remote work and to quickly implement home office policies for their employees. The ability to hire great talent remotely, regardless of where they live or whether they can relocate, has opened the door for many concerns for businesses and employees, surpassing the security and productivity issues.
Because of the increasing popularity of virtual job fairs, interviews, tests, and recruitment automation, recruiting will also be done remotely.
PASSIVE CANDIDATES
Passive job prospects are hard to come by and even harder to entice to your organisation. The importance of finding passive candidates through various channels, including headhunters, employee referral programmes, and social media recruiting, will increase significantly in 2023.
ANALYTICS
Even in 2023, our society and workplaces will still be plagued by the repercussions of Covid-19. Companies need to make sure they can adapt to the new, chaotic world since the economy will continue to be unreliable.
For this reason, workforce planning will be crucial and included in the list of current hiring trends. Digital tools that examine whether each procedure is efficient will be used by recruiters.
EMPLOYEE EXPERIENCE
The redesign of the employer experience is yet another trend from the template of recruiting trends. Businesses that focus on increasing employee engagement will outperform their rivals’ and revenue growth by up to 2.5 times.
However, maintaining connectivity and engagement in a new remote environment takes a lot of work. And for this reason, recruiters will need to reimagine the employment experience and modify it for the new environment.
EMPLOYEE VALUE PROPOSITION
This has previously been accomplished using clichés like “our people are our greatest asset”. It’s evident that this strategy is ineffective today; to stand out from the competition,companies will need to go far more personal with their communications.
Prospective employees now have a particular set of advantages from working for your company, known as the employee value proposition. It encompasses the principles that come with working for your firm, the culture, environment, employee benefits, and career prospects.
FEWER OPENINGS
The market is expected to be tight next year. As they wait to see how the economy performs, companies may choose to delay hiring, leave job openings open longer, or choose just one or two candidates from a job advertisement where they had previously employed five or six. For businesses that have had trouble attracting applicants, fewer openings overall may provide some respite.
SUMMING UP
We have already witnessed many recruitment trends emerge, making this year intriguing for hiring. While some will give way to new advancements, most are expected to last for a decade. But with a global slowdown at the horizon, there will be some changes in recruitment strategies focussing more on getting quality candidates and retaining the existing performing ones.
If you plan to keep ahead of the curve, it’s essential to keep track of such predictions and be prepared to execute your preferred recruitment strategy when the time comes.
Author: Vidur Gupta, Director, Spectrum Talent Management – A global talent management company.