Along with the constant change in our economy comes the shift in the job market of different industries. From a traditional one, the labor market has now predominantly turned candidate-centric. This means potential employees now have more deciding power than the companies.
Aside from this change, many other trends have also affected the way candidates are considered and how managers conduct their recruitment process
10 Hiring Trends You Need to Know
To stay on top of the competition, it’s important for companies to continuously invest in attracting A-players and employing potential candidates.
Read More by Downloading DAVIS Companies Asset: Best Practices for Employers
As we get nearer to the half-year mark of 2023, the need to examine the latest trends grows. Below, you can find a list of the top ten latest recruiting trends you, as a recruitment manager or as an employer, must know to effectively attract employees.
1. Flexible Working Conditions
Since the shift caused by the pandemic that started in 2020, people’s mindsets and point-of-view regarding work have changed.
According to research done by Mckinsey, 87 percent of workers will choose online or hybrid work when given the chance. Only a small number of people still prefer working on-site.¹
This preference for using online platforms does not end with work. It also applies to talent acquisition.
You must make your hiring process remote-friendly for your candidates. You need to make each step accessible from recruitment to interviewing candidates.
Read more by Downloading DAVIS Companies Asset: Tips for Great Interviews
2. Popularity of Project-Based Jobs
With flexibility as a priority, project-based jobs within the gig economy have increased in numbers and popularity.
People now prefer short-term working arrangements since it provides them with more time and faster money.
Although this type of work cannot replace the need for role-based jobs, it is still necessary for managers to recognize the potential perks.
Project-based work can aid companies in finishing specific, one-time tasks. It also serves as an innovative solution for smaller organizations to remain competitive and successful in offering their services or products in an ever-changing economy.²
3. Quiet Hiring
During the beginning of 2022, “quiet quitting” became a trend where employees just did the bare minimum and refused to do anything beyond their job description. This resulted in companies “losing” skills and talent without actually losing employees.
Now, managers are adopting the trend and creating their own concept.
“Quiet Hiring”, the act of acquiring new skills without taking in more full-time employees, is becoming popular due to its practical benefits.
Employers encourage upskilling opportunities to help their people meet the needs of the organization. To compensate for the additional roles and responsibilities, the company provides a variety of compensation.
Some examples of these are:
- one-time bonuses
- additional paid time off
- an increase in salary
- greater flexibility with work
4. Considering Nontraditional Candidates
In order to find potential employees, managers are now searching from different talent pools for nontraditional candidates.
By definition, nontraditional candidates are people who do not have traditional qualifications. For example, maybe an employee who came from the finance industry can work in manufacturing as long as they have the needed skillset.
The best way to conduct this trend is to ask a question found in DAVIS Companies’ downloadable asset under “Readiness to Hire.” Ask yourself, “What exactly is your perfect hire?”
Define your “perfect hire” by identifying a set of minimum requirements related to work experience, qualities, and skills that fit the job descriptions. This list would become your guide when considering nontraditional candidates for the roles.
5. Managerial Support
Being a manager is difficult since they need to consider two different perspectives: the employees under them and their higher-ups.
In a study conducted by Harvard Business Review, 60 percent of hybrid employees cite their managers as their direct connection to the company.
Along with the pressure of guiding employees, managers struggle with balancing the pressure and expectations set by their seniors or leaders.
The conclusion was that in 2023, companies and organizations are expected to provide additional training and support to their managers to help them in their roles.
6. Transparency with Using AI Recruiting Tech
One of the recruitment trends seen in any market is the use of artificial intelligence and automation in the hiring process. Once candidates are attracted by employer branding, they proceed to the initial application led by AI.
Although this saves time and effort for both candidates and employers, it would most likely be questioned this 2023 as the government starts scrutinizing the use of AI.
To cope with this trend, companies are requested to publicize their practices of using AI and to provide an option for job seekers to withdraw at any time from the automated process they initially use. Offering alternatives to AI is also suggested.
Read More by Downloading DAVIS Companies Asset: Streamline Your Interview Approach
7. Collection and Storage of Employee Data
With the rise of remote work, employers have opted to use monitoring and tracking software to keep tabs on the productivity of their employees.4
Some companies collect and store real-time data such as locations and activities using “wearable tech”.
Even if it can ensure smooth operations and aid employers in knowing the needs of their people, it still has the potential to be a threat to employee privacy.
To remedy this, organizations have suggested a bill of rights combating this threat. All companies are encouraged to be more transparent regarding their practices.
8. Employee Support
Similar to the data collection and storage practices used by companies, the way you care for your employees will be another factor your candidates will consider when applying.
According to research, 60 percent of employees are stressed at work every single day. This is a manifestation of the rapid economic, political, and societal changes that began in 2020.
To lessen employee stress, increase their productivity, and ultimately attract more applicants, companies are now offering benefits to support their staff.
Examples of these benefits are:
- Counselors available for a free consultation
- Proactive rest before the heavy workload
- Encouraging activities that improve physical and mental health
9. Pushing for Diversity, Equity, and Inclusivity (DEI)
The events in the past years have shown the importance of creating a diverse and inclusive workplace for all. Companies are doing their best to implement equitable working conditions for their people.
Although DEI should be beneficial to employees, 42 percent of respondents in a Harvard study said it actually decreases workforce inclusion and engagement.
These negative effects have resulted in employee resistance to DEI efforts. As employers and hiring managers, it’s your goal to push back this resistance and continue to create a more inclusive space.
To correct the negative effects of DEI, companies need to communicate clearly with their people. Listening to various perspectives is required to create more specific safe spaces and programs to further push diversity, equity, and inclusivity in the workplace.
10. Upskilling the Gen Z Workforce
Many from Generation Z graduated and started working at the height of the pandemic. Because of this, they experienced fractured online education and underdeveloped models of work.
Fifty-one percent of Gen Z employees expressed that their online education did not prepare them to actually enter the workforce.
Aside from this, analysts from Harvard noted that their social skills had eroded during the pandemic. Even at work, some Gen Z workers have gone their whole careers not conversing with their colleagues due to their remote setup.
These facts should be taken into consideration during recruitment marketing. Managers should remember that the ability to communicate well and get along with people are soft skills that can be taught and practiced.
Similarly, companies need to consider offering training for skills that may have been affected by previous global trends.
NEED HELP IN COPING WITH THE NEWEST RECRUITING TRENDS AND CHANGES?
Delivering staffing solutions since 1985, DAVIS Companies can help you manage the newest trends and offer valuable insights about your employment process. If you want to attract top talent, start a conversation with us today!
- McKinsey & Company. “Americans are Embracing Flexible Work (and They Want More of It).” McKinsey & Company, 25 June 2021, https://www.mckinsey.com/industries/real-estate/our-insights/americans-are-embracing-flexible-work-and-they-want-more-of-it
- Johnston, Heather. “Is The Future Of Work Project-Based? Probably Not.” Forbes, 2 Feb. 2023, https://www.forbes.com/sites/forbestechcouncil/2023/02/02/is-the-future-of-work-project-based-probably-not/?sh=2aac1a7a5d58
- Farrell, Kiely. “Employee Monitoring: Is It Ethical and Legal?” Business News Daily, 19 Mar. 2021, https://www.businessnewsdaily.com/6685-employee-monitoring-privacy.html