Updated: May 3
The current recruitment landscape is remarkably intricate. Leaders responsible for talent acquisition are grappling with a difficult to access candidate pool to acquire the skilled professionals whose abilities organisations need to gain an edge in an increasingly competitive market.
Simultaneously, Leaders are dealing with managing staff reductions and the burden of hiring freezes. On one hand, they strive to create workplaces that people are proud to be a part of, whilst on the other hand, they are wrestling with the impact of inflation and economic uncertainty.
The frenzied hiring of the previous couple of years has slowed and talent leaders have had a chance to take a breather, they are determined to establish more sustainable, engaged, skilled and adaptable workforces that will enable their companies to navigate the complexities of the present and future. In fact, according to the recent Randstad Enterprise Talent Trends Report a whopping 77% of leaders state that they are now prioritising total value creation in 2023 over cost savings, a significant increase of 32 points from the previous year.
Let’s face it, searching for a job and filling a role can be an arduous task at the moment. Hard to fill vacancies persist, redundancy intentions tick upwards and pay increases are struggling to keep up with inflation.
However, the bright side is that there are several recruitment trends emerging in 2023 that can give you a significant advantage as a job seeker or employer in your search.
Here are five key trends and how they can work in your favour:
1. Artificial Intelligence: The application of AI in Talent Acquisition software is currently one of the most rapidly expanding areas. It is being employed to enhance various aspects of the recruitment process, such as sourcing, identifying, and engaging with top talent. Tools include job posting platforms, candidate sourcing and screening, chatbots, interview scheduling software and NLP technology. It is also being used to reduce bias in candidate selection and hiring process.
2. Turning DEI into Impactful Actions: Companies are placing an increasing emphasis on Diversity and Inclusion, recognising the significant impact on talent acquisition and recruitment. Evidence indicates that businesses with a diverse and inclusive workforce tend to exhibit higher levels of productivity and profitability. Executing a successful enterprise talent strategy, necessitates implementing meaningful DEI initiatives across the entire talent life cycle.
3. Purposeful Talent Experience: Establishing trust is a significant challenge, but it is essential for every employer seeking to build a stable workforce. Trust is closely linked with attracting and retaining exceptional talent, which is a highly competitive process in the current global economy. Businesses that can genuinely connect with their employees and job applicants are in the best position to succeed.
4. Mobile Recruiting: The trend of remote working emerged as a significant factor in talent acquisition and recruitment in 2021 and is expected to continue throughout 2023. Although many companies have reopened their offices, remote work has become a permanent fixture in the modern work environment surpassing its pre pandemic size. Similarly, remote interviewing became essential and will likely remain relevant as companies integrate it into their operations. The technology we now have enables collaborative hiring by allowing other departments to participate more easily in the interview and selection process.
5. Unlocking Workforce Potential: Although many companies may face resource constraints this year, it does not mean that innovation should slow down. Even in companies that are slow to hire, the demand for specialised skills has not decreased. If companies do not innovate and enhance their offerings and value proposition, they risk becoming superseded in a dynamic and competitive market.
In the coming years, recruitment will shift from a reactive to a proactive approach. This means that creating and managing talent pipeline, even before job openings arise will be crucial. Recruiters and employers alike will focus on sourcing candidates based on their skills that they anticipate will be in demand for the business in the future. This creates a greater need for close Talent Partnerships with external suppliers and will make the recruitment industry ever more transparent, as extensions of internal Talent functions.