Soon enough, we will move into a new year, witnessing the winds of change. But before we begin to breathe in the fresh vogue of new beginnings, one thing’s certain, ongoing talent trends are going to become a base for next year’s evolution. While pandemic-induced practices like remote hiring will continue to shape recruitment, we are definitely going to find new statistics and aspects of the new year.
The question is that how do we want to move forward in the industry of underlying opportunities? With newfangled tech becoming the starting point of the grid, the future-ready workforce will want more than just fat paychecks and scavenger hunt activities.
Truthfully, the pandemic has become a bygone era but its repercussions are still reflected in the majority of talent highlights. As we plan to step our foot into a new era of opportunities, it’s unarguably true to take concrete measures from past trends and gear up for the future of tech and talent.
Times are changing and so are employers. Today, many organisations have accepted the rising importance of diversity and inclusion in the workplace. While the trend has drastically changed over the decade, DE&I strategies are no more deferred than they were earlier. In fact, many studies show that companies having DE&I policies in place outperform competitors.
Moreover, with diverse minds coming on board while bringing in unique ideas, an organization tends to make a fast buck. Not to mention how these policies are relevant to maintain a sense of trust and harmony in the workplace. An employee feels more comfortable when they are not judged on the basis of their gender, race, color, etc.
The rising gap between supply and demand for talent has merely given recruiters time to spend days finding a single candidate. Sourcing has become more complex than ever, and amid this phase, one strategy that has proven its significance in 2022 is proactive recruitment. And there’s no denying the fact that this will continue to lead the talent market in 2023.
Unlike reactive hiring, proactive recruitment focuses on engaging passive employees to hire them in the near future. This strategic action plan demands recruiters be more proactive in hiring. Merely posting a job when the need arises isn’t enough. Proactive recruiting takes place the moment a candidate enters the recruitment funnel.
The gig economy continues to grow in 2022, especially for the C-suite. In fact, Mercer’s 2022 Global Talent Trends report highlights that six in ten executives expect gig workers to replace full-time employees in the next three years.
While it’s no surprise that the gig economy is at the center of the stage in 2022, its presence has certainly persuaded many organisations to fight the repercussions of the pandemicâ€”inflation, shortage of labor, etc.
Employer branding has become the need of the hour. In the age of digital transformation leading the talent markets, it’s rather essential for an employer to advertise their brand while keeping up with the latest trends. Gone are the days when recruitment was driven by the employer.
Candidates have a plethora of options in front of them and many employers have understood this. In fact, Content Stadium’s social recruiting and employer branding: 2022 report shows that 64 percent of the companies already have an employer branding strategy in place.
While proactive recruitment and employer branding have settled down as top trends in recruitment, internal mobility has also found its peace by becoming another important trend of 2022. With rising skill gaps and the need for reskilling and upskilling, employers are focusing on internal mobility to save both time and cost.
Moreover, it’s not just cost-effective but internal mobility (both vertical and horizontal) offers growth opportunities to employees while uplifting their motivation to work more efficiently for the company. And currently, amid the demand and supply gap, it’s the best time for employers to analyze their employees’ capabilities and fill in the gaps by prioritizing internal recruitment.
With the rising trend for deploying advanced technology solutions, skill gaps are becoming a problem.
Moreover, there are specific domains of work where it’s impossible to look for candidates possessing the exact skills. In such situations, recruiters often look for other transferable skills also known as soft skills namely problem-solving, communication, analytical thinking, creative thinking, financial literacy, and more.
This shift from experience-based recruitment to transferable skills-based recruitment is rapidly rising.
Recruitment and hiring will never become obvious. We are living in the age of tech where transformation is the theme of the industry. To garnish the talent for the future of work, we have to be proactive and adapt to the ongoing trends with pace. Admittedly, the new phase of life will bring new trends followed by initial challenges, but we have to keep looking at past trends and learn from them constantly.
2023 is expected to witness heightened investment in HR Tech at two levels – 1) processes to simplify repetitive HR tasks, reducing administrative burden and 2) use of smarter recruitment tools to improve recruitment performance.
Companies will continue to invest in the adoption of new-age hybrid workplace technologies to make the work experience more personalized, productive, and effective.
Furthermore, candidate experience will continue to be a key focus to address rising attrition and the year will see innovative policies and remuneration models by corporates across industries. Investment in upskilling both from corporates and individual’s perspectives is expected to see tremendous growth to address the current and near-future skill deficit. This will be vital for employees to stay relevant in a demanding and ever-evolving job market.
(The article was first published in India Today.)
APAC Recruitment & Business Leader