05 Upcoming Talent Recruitment Trends in 2023
2022 has been eventful in terms of hiring. The tech sector witnessed layoffs and a high attrition rate throughout the year. A bad hire and hiring beyond the company's capacity is something no manager wants. Sourcing the right talent continues to be a challenge for companies. With the dynamic business environment, fear of layoffs and hiring freezes, the situation feels the same in 2023. It requires managers to have more effective recruiting practices.
The rapidly changing landscape means it is necessary to tweak talent recruitment strategies for managers to achieve talent goals. Here are a few hiring trends we anticipate seeing in 2023.
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01- Flexible and Remote Cultures
After COVID, the way employees want to work has changed. Even after a year since the last lockdown, employees still wish to continue working remotely. 2023 will continue to see this trend. As a result, many companies offer remote and hybrid work structures in India. In a survey, almost 60% of employees said they are more constructive while working remotely. As a result, managers will need their talent recruitment strategies to be remote-friendly and digital. In 2023, we will witness more companies digitalising their hiring, training and onboarding and exits happening digitally.
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02- Hiring Contingent Employees
Earlier, the contingent workforce was only associated with non-core business functions. However, that mindset has shifted significantly. The recent layoffs have proved that organisations are understanding the need for smaller yet robust workforce structures. However, to avoid any extra workload to fall on the shoulders of their current permanent employees, they may start relying on the growing freelance and contractual workforce.
Employers now understand the kind of impact contingent workforce has on employer brands. Not to mention the market insights they can provide.
Adding a contingent workforce can save companies millions. Managers can ensure the addition of a contingent workforce to the organisation's strategic goals. They can achieve so by creating separate workforce programs to include contingent employees in the business. They can also implement robust tools and systems to hire and manage contingent employees.
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03- Addressing Every Candidate's Shifting Priorities
With the mass layoffs, employers may be regaining the upper hand. But they must not forget the candidates' priorities while hiring. The first question talent acquisition specialists must think about is, what do the candidates want?
Apart from primary factors like compensation and upskilling, factors like work-life balance and flexibility are equally important. According to LinkedIn's Global Talent Trends Report, October 2022, remote jobs in India comprise of overall 10% of the total jobs and receive more than 20% of applications. People will seek flexibility and remote work.
Talent acquisition specialists should promote their companies' well-being policies when recruiting candidates for jobs and during the interview process.
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04- Quality of Hire
One of the main reasons for the mass layoffs in the edtech sector this year was the bulk hiring during COVID when the edtech sector was booming. It turned out to be a lesson for talent acquisition specialists to become smarter and more intentional about the hires. Managers need to become more cautious about their talent recruitment strategies, trying their best to make every hire count.
In 2023, companies will look for employees who fall more under the generalist category than specialists. Managers will focus more on skills-based talent acquisition. It is because focusing more on candidates with more diverse skills and experiences comes in handy when there is a requirement for internal talent mobility. It will also provide flexibility to employees regarding what project they can work on. There may be instances where instead of 10 positions, the company may only end up filling 03 positions. The only difference is that these 03 hires should be closed strategically.
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05- Revamped Career Sites
Traditional job boards no longer serve to engage the candidate experience job seekers want. Changing jobs is treated as an important career milestone. Hence candidates will expect more from their employers from the beginning of the hiring process. It has to be automated, swift and engaging. Hiring managers that will move creatively and start tapping deep job platforms and talent marketplaces while hiring will be able to establish a competitive advantage while attracting top talent.
Conclusion: The War for Talent is on Fire
The war for talent has been going on for years. For successful talent recruitment, managers have not left any stone unturned. Because the recruitment scenario is more dynamic, it is no less than a war for managers to find and retain the right candidate.
The only helpful weapon in this cold war is implementing the best practices for talent acquisition.
Metaverse is going to be another area for talent acquisition managers to explore. From Recruiting and Onboarding to Inclusion and Accessibility, metaverse can open doors of opportunities for HR. It will help close the gaps in talent recruitment, acting as a bridge between physical and virtual interactions.