For better or worse, a side effect of the COVID-19 pandemic was a marked shift in talent acquisition practices worldwide. With the struggle to retain talent that began in 2020, companies have had to rethink recruitment strategies. The result has been new talent acquisition trends that are well on their way to becoming commonplace. These are the practices that are going to become even more widespread going into 2023.
Talent Acquisition Trend #1: Online Recruiting
Some prominent strategies that left a mark during the pandemic are slowly fading away. But one thing that won’t change is the convenience of the internet. Although the use of the internet in recruitment began as far back as the early 90s, the 2020s saw a sharp rise in online hiring processes. It was no longer feasible for people to meet for in-person interviews. Many job hunters were already using job boards to submit applications online, so it was natural that hiring departments would lean entirely into internet use in recruitment. With the prevalence of online-meeting applications like Zoom, Microsoft Teams, and Google Meet came the possibility of conducting interviews online.
Moreover, the work-from-home movement that grew during the pandemic proved doubly advantageous. Companies saved on office costs while employees saved time and improved productivity. Additionally, many organizations began to see how people can effectively work from many parts of the world. In this way, recruitment has come to thrive online. It is natural for it to remain and become even more common going into the future.
Talent Acquisition Trend #2: More Equity, Diversity, and Inclusion
As the world becomes more connected and accepting, the need for diversity, equity, and inclusion (DEI) in the workforce is becoming essential to talent acquisition. Eliminating bias, harassment, and prejudice in an organization breeds a welcoming workplace that attracts many prospective hires. More organizations are dedicating themselves to becoming equal-opportunity employers.
By intentionally changing workplace culture and education, more corporations are opening themselves to an understanding of previously unexplored topics like unconscious bias. The next few years will see even more growth in this regard. More companies will work DEI into their branding, and recruitment will focus on inclusivity. Companies will buy into inclusive actions like diverse interview panels and more flexible job offers.
A 2018 study by the Boston Consulting Group found that companies with more diverse management experienced increases in revenue as high as 19%. More companies have since adopted DEI, and this statistic remains true. Corporate culture is changing to allow for diversity, and new recruitment strategies are becoming an essential part of that transformation.
Talent Acquisition Trend #3: Data-Driven Recruitment
In the age of information, the benefits of data-driven talent acquisition have never been more apparent. This will continue to be the preferred approach for hiring experts even as we go into 2023 for a good reason. The fact is that data shows patterns that companies can use to guide their recruitment strategies. Real-time analytics of
- application completion
- talent sourcing
- talent retention
- growth metrics
- acceptance rates
are among the many forms of data that all recruiting experts have access to today. Companies can create and execute hiring plans guided by a combination of technology and meaningful data. The natural result of data-driven recruiting is that the crop of applicants received for specific positions is often of “good quality.” Candidates are far more likely to meet and even exceed the requirements, and organizations get to hire truly remarkable talent.
Talent Acquisition Trend #4: Automation in Hiring
Automation has made talent acquisition much more efficient and will continue to do so in the next few decades. As the economy takes steps to recover from the pandemic, we’ve seen significant shifts from labor shortages to the Great Resignation. As a result, many organizations still boast numerous job openings. Even as companies begin executing mass layoffs, the number of people searching for jobs is surging. But for many businesses, a rush of candidates may be just what they need. The only question is, who is going to scan the hundreds (or thousands) of applications coming your way?
Using technology to automate a good portion of the work was the godsend that talent acquisition leaders needed. A Northwestern University study found that over 50% of HR professionals did not see automation as a threat to their jobs. Instead, tech allows them to delegate, organize, and prioritize in ways they haven’t been able to before. For example, resume screening programs make it easy to sift out the best candidates from thousands of applications. Automated communication improves candidate experience by helping hiring managers to connect with candidates throughout the hiring process. The future of talent acquisition is in automation and AI. So, it’s not just one of the major talent acquisition trends. It is becoming a MUST for recruiters and hiring managers.
As the new year fast approaches, talent acquisition rises to meet it with new but effective practices. Attracting and retaining talent requires a careful recruitment strategy. These trends are quickly becoming tried and tested ways of making the hiring process even more efficient.
Considering the new talent acquisition trends going into 2023, what are some of the latest trends you will place on your “must-have” list?