2023 is here and with it comes a host of new hiring and recruitment trends as companies adjust their business. Developing a concrete action plan to improve their recruiting processes and hiring efforts is certainly the biggest priority. To stay ahead of the curve, it is important to shift the gears of your recruitment team according to these trends.
It’s also important to take into account where we are and what is happening. First, there is a huge shift in the generational workforce. One of the largest generations of workers, baby boomers is now leaving the workforce. Gen Z now makes up the largest working cohort, and this ‘changing of the guard’ means businesses have to adjust how they operate, hire and recruit.
An unstable economy will also play a part in recruiting as companies look to tighten budgets and find cost-effective ways to do business. As the hiring and recruitment spaces continue to adapt and change, businesses with a solid plan and the right tools and knowledge will reap the benefits in 2023 and continue to have their pick of top global talent.
HIRING AND RECRUITMENT TRENDS
So, what are some of these hiring and recruitment trends?
Remote interviewing – Even though pandemic restrictions have been lifted and companies are back in their offices, remote interviewing is set to continue in 2023. With remote interviewing, job interviews take place on video conferencing platforms. It has allowed for convenience during the hiring process. However, it’s not without its own challenges such as varying internet bandwidths, and lack of privacy sometimes where someone gets distracted by a sibling, child or even a pet. However, remote interviewing is set to continue being a trend in 2023.
Employee well-being – After the pandemic in 2020, companies emerged with a new look at employee well-being and its importance. It was not just all about productivity and profits anymore. Today, companies had to consider how their employees were coping with isolation and how it affected their performance. 2022 was the start of companies implementing various mental health policies in the workplace. As we enter 2023, we will see a rise in various health apps and companies that look to help organizations understand and manage the well-being of their employees. According to the 2022 Wellness Industry Trends Report by Wellable Labs, 76% of companies are investing more in stress management and resilience resources for their employees, all of which can be used for work situations as well as their personal lives.
Remote teams are here to stay – Research conducted by employeecyle stated that 85% of recruiters believe remote teams will keep growing. According to McKinsey and Co. job seekers highly value having autonomy over where and when they work. This indicates that remote teams have helped companies attract candidates and streamline their operations in a cost-effective manner.
Data-driven strategy – Data-driven strategy is one of the latest recruiting and hiring trends. Information and data will continue to pile up with companies starting to embrace remote work and distributed teams. The hiring pool will keep getting wider as companies continue to recruit globally, forcing recruiters to start using data to thoroughly understand budgets, performance and other essential information for a healthy bottom line.
Employee referrals – Today, most companies hire 20-40% of their new employees via referrals. It’s a great way to reduce cost per hire, and not only that, hires that have been referred by other employees tend to stay on longer. Employees have a better understanding of the role, culture, structure and what is required by a new hire on a day-to-day basis. They’ve done half of the vetting for you! Companies in 2023 will start to create employee referral programs. They will offer incentives for great referrals and perks after the new hires finish their probationary period, stay for a year and so on.
Gamification – Today, in the world of remote work, employees risk feeling isolated, bored and disconnected without office and in-person interactions. This is also affecting recruitment trends with more and more recruiters looking to keep employees more content and engaged. One of the best ways to do this is through gamification. Gamification is today making 90% of hires more productive.
Diversity, equity and inclusion strategy – Diversity, equity and inclusion (DE&I) should be on priority for talent acquisition leaders. Building a DE&I strategy opens your talent pool tremendously and creates a more welcoming workplace. To better understand what DE&I means, let us break it down into three pillars.
- Diversity – the presence of candidates irrespective of their race, gender, ethnicity, sexual orientation and apparent & non-apparent disability.
- Equity – the process of ensuring that procedures and systems inside the organisation are just and impartial, eliminating unfair advantages and promoting equal opportunities for all.
- Inclusion – the practice of creating an environment where everyone feels heard, supported and secure in sharing their opinion.
Statistics suggest that companies with ethnically or gender-diverse leadership teams are more likely to outperform others by 25-30%
Employer Branding – Employer branding will play a crucial role and will be a key trend in 2023. It will be vital for companies to position themselves as organisations that care about their staff, recruiters and candidates. Even if a company has a small team.
Creation and maintenance of talent pools – Using talent pools could be the missing key to your recruitment strategy and a must-add in 2023. Organizations are now turning to their own talent pools to successfully recruit the best talents today. Organizations must search from every possible source to address their skills shortage through both external and internal talent pools. Traditionally, the recruitment approach has focused on external recruiting and hiring. However today, businesses have no choice but to search broadly both outside and within their organizations. Offering your own staff current vacancies will become more common in 2023 which will also help foster loyalty.
The hunt for soft skills – You’ve probably heard of soft skills before. In 2023 around 93% of recruiters will take a thorough look at a candidate’s soft skills before making any decision. Companies will be on the hunt for autonomous, flexible and adaptable candidates who can perform in an efficient manner.
Your reputation as a company will affect your hires – Today, most candidates and potential hires, thoroughly research your company before deciding whether to apply or not. Statista puts that number at around 86%. It doesn’t even matter if you’ve got a hire salary, 75% of candidates agreed they would not work for a company with a bad reputation. So what does this mean for businesses? You’ve got to consider your culture, and how it affects the day-to-day running of your business or startup.
Set your recruiting process for success! – As businesses face a lot of uncertainty in 2023, the recruitment trends provided here will help you navigate and structure your recruitment process for success. Open up your business for remote work to provide a better work-life balance! Make sure your current workforce is at the centre of all the decisions you make. This will help you and your businesses continue to find and retain the best talent out there.
At Superbhire, we take the stress out of hiring. We’ll handle all your recruitment needs from sourcing and vetting to testing candidates! We’ll provide you with a list of highly qualified and skilled candidates for you to then interview and select. We also take care of payroll processing, allowing you to focus on your business’s core competencies.
Are you looking to hire virtual and remote employees? Contact us today!