An estimated 97 million jobs will be created by 2023, according to the World Economic Forum. This is a tremendous opportunity for job seekers and employers alike. As we continue our journey through the Great Resignation, all while in the midst of a global pandemic that shows no indication of letting up anytime soon, there is a lot we need to know — and revise — in terms of talent acquisition this year.
From challenges to opportunities to strategies, here’s what all employers and leaders should know going into 2022.
4 Potential Futures
Deloitte identifies 4 potential futures for recruitment and hiring:
- Work as fashion – Employers follow work trends and try to adjust to workers’ sentiments
- War between talent – Workers compete with one another for a limited amount of jobs
- Work is work – Work and personal lives are clearly separated
- Purpose unleashed – The worker-employer relationship is defined by a shared purpose
As employers devise their plans for the coming year, they will need to identify the future that most closely aligns with their goals and visions as an employer or a company.
7 Recruiting Strategies
1. Data-Driven Recruiting
In a digital landscape rife with big data, recruiters and hiring managers are no longer relying on intuition in order to devise their recruitment strategies. Instead, they are informing their efforts with solid data.
This goes far beyond the numerical information candidates provide on their resumes. Recruiters are also examining internal and external metrics to understand the projected return on investment (ROI) for candidates, gauging what, exactly, these prospective hires can bring to the table and how recruitment efforts will pay off.
2. Candidate Engagement
Increasingly, recruiters are paying close attention to the candidate experience during the hiring process. Given that we’re in a raging war for talent, all amidst a Great Resignation, employers must consider why employees are leaving their companies and what they can do to attract new talent.
This involves nurturing candidates and making them feel welcome. Employers need to stop waiting for candidates to choose them and learn what the talent wants so they will feel chosen.
3. Informed Automation
For years now, automation has played a pivotal role in the recruitment process. Applicant tracking systems (ATS), for example, comb applications for qualifications, skills, and credentials to identify appropriate candidates, thereby screening applicants without the need for human intervention. But today’s automation systems will go a step further, blending nurturing and technology.
This is called automated nurturing. Informed by data, this software will add a personal touch to the hiring process, such as by automatically sending emails to applicants who interest them, engaging them in the hiring process.
4. Tech-Savvy Solutions
ATS software allows you to cast a wider net and find the candidates who are most appropriate for your position. But this isn’t the limit to the technological tools recruiters are leveraging to help them streamline the hiring process.
Take chatbots, for instance. According to a Jobvite survey, more than half of surveyed recruiters said their businesses use chatbots to engage candidates. These tools can also help screen candidates, as well as respond to queries.
5. Employer Branding
Given that in today’s landscape employers must attract candidates, companies are increasingly focusing on branding themselves to make their visions and missions clear. They are using various media, from LinkedIn profiles to content marketing, to make themselves appealing to job seekers.
Prospective employees also want to hear from a business’ employees. Organizations can leverage this interest by showcasing their voices — having them write blog posts or create videos where they speak about their experiences, for instance.
6. Increasing Numbers of Contractor Roles
If you’re stuck in a rut in the midst of an unsuccessful hiring process, there could be an alternative: turning to contractors. More and more, businesses are limiting the number of full-time employees they hire and increasing the number of freelance or outsourced positions.
This strategy offers a number of benefits, such as cost-effectiveness. But it’s important to gear your strategy to the nature of the role. Hiring for full-time positions is very different from hiring for part-time positions, after all.
Diversity, equity, and inclusion (DEI) efforts are critical in the recruitment process. Too often, businesses have led their hiring initiatives without an eye on DEI, and that can no longer be the case.
This starts with job listings. For example, employers should be reading and rereading the content of their posts to ensure their language is inclusive. Moreover, they should be promoting accessibility by using alt tags and other strategies. They should also look to additional inclusive technologies to reduce — and hopefully eliminate — bias in or from the hiring process.
3 Strategies for Retention
Almost 90% of open roles could be filled internally, Randstad RiseSmart’s 2021 Career Mobility Outlook survey found. As part of your recruitment strategy, you should aim to retain employees — not just replace them with new talent.
1. Employee Engagement
Fifty-five percent of professionals believe employee turnover will only increase in 2022. In order to prevent this from happening at your organization, it’s imperative to introduce measures that will engage employees, such as offering work-from-home policies and other flexible work arrangements, along with excellent benefits. When so many other businesses are providing these perks, you can’t afford not to.
You can reduce hiring costs and retain employees simultaneously by investing in upskilling current employees. Focusing your strategy on promoting internal mobility will allow you to fill roles with the talent you’ve come to rely on.
For example, offer educational benefits, such as tuition reimbursements, to help employees gain critical skills that will help them and you.
3. Nurturing Well-being
Between December 2020 and July 2021, employees experienced a 21% increase in burnout, according to a survey by MeQuilibrium. That’s one reason why employers need to focus on nurturing their employees’ mental health and well-being. They can, for instance, encourage them to take all of their PTO. They should also develop strategies for helping them cope with challenges both personally and professionally.
The work scene looks very different from how it did just a couple of years ago. Now, employers must pivot and adapt to the changing job market, just as candidates are. Using a blend of the human touch and technological assistance, businesses can rise to the challenge and recruit top talent.