Attention
Struggling to find the right people to hire? Then be ready for even tougher times ahead!
A new report highlights the upcoming challenges in hiring talent for many countries. Economic uncertainty and a shortage of workers in key sectors mean finding skilled professionals will be harder than ever.
Why?
Interest
Well, the 2023 Hiring & Workplace Trends Report paints a challenging picture for recruiting talent. The labor market is tightening, making it difficult for industries to find candidates.
But, we’ve got the insights you need. Let’s explore the factors causing this talent drought!
Desire
As per the groundbreaking multi-country report, some profound labor market trends will shape the coming years and extend far beyond the usual ups and downs of the business cycle.
- Labor Leverage – Workers hold the cards. Demographic shifts and aging populations will give employees more power to demand workplace change. Hiring challenges will persist in certain industries due to ongoing labor supply issues.
- The Remote Work Revolution – It’s here to stay. Remote work will continue thriving for jobs where it’s feasible. Even occupations traditionally tied to in-person settings will feel the impact as employers struggle to attract talent who now prefer the flexibility of working from home.
- Embracing Diversity, Equity, and Inclusion – A workforce demanding change. Employees deeply care about diversity, equity, and inclusion initiatives. Organizations must commit to these principles, as workers will reject job offers or leave companies lacking support for DEI.
- Benefits Matter – The changing landscape of worker priorities. Employees now seek higher pay and a range of perks. Inflation plays a key role in influencing the shift in benefits preferences. From paid time off to mental health coverage, employers must offer enticing packages to stand out.
- The Value of Happiness and Wellbeing – Company culture as a competitive edge. Employers who prioritize employee happiness and well-being will win the loyalty of their workforce. Recent studies show that people’s expectations for happiness at work have soared, impacting their overall life satisfaction.
Action
What trends to follow to keep up with hiring challenges?
Trend 1 – The Rise of “Quiet Hiring”
Remember the buzz about “quiet quitting” on LinkedIn in 2022, where employees did the bare minimum in their jobs? Get ready for a creative twist in 2023 – introducing “quiet hiring.” Instead of losing valuable skills, organizations will embrace this new approach to acquiring fresh talent without hiring more full-time employees.How does it work? Savvy HR leaders will focus on internal talent mobility, ensuring employees tackle essential tasks without increasing headcount. They’ll also provide opportunities for stretching and upskilling existing staff to meet the organization’s changing needs.To add extra flexibility, companies will explore alternatives like rehiring former employees and utilizing gig workers when needed.
Trend 2 – Proactive & Social Media Recruitment
- Proactive recruitment
In 2023, recruitment will undergo a revolutionary transformation. Gone are the days of waiting for job openings; recruiters and employers will be proactive hunters, actively seeking candidates with the right skills and qualifications.
How will they do it? Building strong relationships, creating talent pools, and staying updated on recruitment trends. These proactive recruiters will swoop in to fill open positions swiftly, leaving their competitors in the dust.
- Social media recruitment
On the other hand, social media will also reign supreme in 2023 hiring. With a staggering 3.6 billion monthly users, platforms like Facebook, Twitter, LinkedIn, and Instagram will become the go-to places for recruiters. They’ll harness the power of these networks to find and connect with potential candidates on the move.
Trend 3 – Candidate Experience Matters
In 2023, job seekers will have the upper hand as talent demand surpasses supply. Candidates know their options and won’t hesitate to decline job offers if their expectations aren’t met. A poor candidate experience can significantly impact, with nearly half of job seekers rejecting offers due to negative experiences.
Frontline workers value certain aspects of flexibility, including control over their work schedule, access to paid leave, and stability in their work hours. They also express interest in having flexibility regarding their tasks, colleagues, and the number of hours they work.
To address this, organizations will prioritize enhancing the candidate experience, providing transparent information about flexible work arrangements, company culture, career development opportunities, benefits, and organizational commitments. Candidates are often potential customers, so a positive experience can contribute to business success.
Trend 4 – Navigating DEI Challenges
As organizations intensify their efforts towards diversity, equity, and inclusion (DEI), they face resistance from some employees. Many workers view DEI initiatives as divisive, creating feelings of alienation or resentment within the organization. This resistance is often influenced by political and ideological trends that misconstrue DEI as discriminatory or social engineering.
Left unaddressed, this opposition can negatively impact engagement, inclusion, and retention. In 2023, forward-thinking leaders will confront these challenges proactively to prevent more significant disruptions.
Trend 5 – Employee Well-being Takes Center Stage
To attract and retain top talent, companies must prioritize employee well-being. Offering comprehensive benefits that support physical, emotional, and financial health is crucial. Health and retirement benefits, mental health counseling services, employee rewards, recognition programs, and robust learning opportunities contribute to a positive work environment.
Recent research indicates that companies are increasing their benefits, signaling a shift in how employee well-being is perceived. A well-crafted benefits package can give organizations a competitive edge in attracting and retaining top talent.
Trend 6 – The Lost Art of Social Skills in a Pandemic World
The pandemic has profoundly impacted young people, particularly Gen Z employees. Many faced challenges pursuing their education and career goals, leading to a lack of preparedness for the workforce. Soft skills, such as negotiation, networking, public speaking, and social stamina, have taken a hit as in-person interactions dwindled.
Not only Gen Z but everyone’s social skills have suffered since 2020 due to burnout, exhaustion, and career insecurities. This erosion of social abilities poses a challenge for organizations, especially when seeking affordable talent in a competitive labor market. To overcome this hurdle, companies must redefine professionalism across their workforce and find innovative ways to rebuild these crucial social skills.
Conclusion
As the years progress, hiring and acquiring top talent will continue to pose a significant challenge for many countries. Competition for skilled individuals will remain fierce, pushing organizations to innovate and adapt their recruitment strategies to stay ahead in the talent race.
