The impact of the COVID-19 pandemic, the Great Resignation, and the recent economic crisis have resulted in permanent changes to the work environment, and talent leaders need to adapt. To attract and retain top talent in 2023, it will be crucial to focus on digital-first strategies and use targeted communication tactics. In this article, we’ll highlight the leading trends affecting recruitment this year.
1. Employer Branding
The importance of employer branding in attracting job seekers is becoming increasingly vital as employees have higher expectations of the companies they work for. 57% of job seekers state that a company’s brand is a significant factor when considering a new job. To effectively reach potential candidates, it’s necessary to do more than rely on the marketing department’s brand guidelines.
To enhance your employer’s brand and reputation, it’s essential to consider the current trends necessary for employees, such as corporate sustainability, culture, diversity, equity, and inclusion. Surveys have shown that 70% of job seekers prefer to work for companies committed to diversity, and 41% of candidates will decline a job offer if the company’s sustainability values don’t align with their own.
To strengthen your brand and reputation, focus on implementing and investing in internal sustainability, culture, and DEI programs, including following ESG standards, promoting positive hybrid workplace models, and providing inclusive mentorship and training opportunities. Additionally, develop a content strategy that aligns with your audience’s needs and showcases your unique offerings.
2. Data-driven recruiting
With companies increasingly focused on gaining cost efficiencies, recruiters are going to be put in the position of needing to gain deeper data analysis skills to meet C-suite’s expectations. Since recruitment strategies can span across several channels, programs and departments, it’s more important than ever to have a data-backed strategy that tells you exactly where your efforts are most profitable and efficient to gather quality candidates.
Suppose you’re not actively using Google Analytics (or a supplemental website analytics tool), an email automation tool, and an Applicant Tracking System (ATS). In that case, it’s time to familiarize yourself with their capabilities. The expertise to correctly set up such tools and reports can come from your internal marketing teams, your software’s customer support, or a trusted recruitment marketing partner. A complete outline of critical KPIs to discuss with your teams can be found in our previously stated Guide to Successful Talent Acquisition. While it can take several months to integrate a proper reporting system for your recruitment efforts, you’ll know that you’re well on your way to having a solid data structure in place when you’re able to answer the following questions intelligently:
- What are your hiring goals (i.e., number of hires, the top source of hires, acceptance rate)? Are you hitting your monthly KPIs?
- How long does it take to onboard and train a new employee?
- What is the quality of your candidates and hires?
- How much does it cost to recruit a new candidate?
With proper reporting structures, Investis Digital enabled clients to achieve goals like a:
- 25% increase in applicants
- 74% reduction in cost-per-applicant
- 206% increase in conversions
3. Talent pool growth & usage
Recruitment marketing requires building a qualified talent pool through various strategies, including content creation, online engagement, analytics tracking, and a CRM. The goal is to gain the audience’s trust and contact information. Segmenting email lists and communications is a best practice to personalize communication and avoid spamming. Investing in nurturing first-party lists of engaged individuals can lead to cost-effective communication in the long run. The talent recruitment industry is growing, and competition for attention is increasing, so it’s essential to gather your share of the talent pool now.
4. Freelance & fractional professionals
The increase in freelance professionals results from technological advancements, economic changes, and full-time employees opting for side hustles. It’s time to consider the benefits of incorporating freelance specialists and fractional executives into your company. Using internal data from operations and project management teams, identify which projects may not require full-time hires. While it’s not advisable to only hire freelance and fractional employees, a mix of full-time and part-time staff can make the company more efficient in 2023.
If part-time professionals are suitable for your company, ensure that job postings are updated and remain competitive with other similar posts. Building recognition with a new audience takes time. One way to start is by building relationships with freelance/fractional service organizations or agencies that provide outsourced work.
5. Retention
The impact of the Great Resignation is still felt as many are still changing jobs, as seen on LinkedIn. As employers, it’s essential to maintain high morale and attract new talent while competing with companies offering better remote/flexible work, unique training, and positive cultures. Only one in four employees are confident in their current careers, making employee retention a top priority in 2023.
Although budgets may be cut, HR departments play a crucial role in the company’s success. Invest in retention efforts that matter most, surveying staff and recent hires to understand what advances their careers and what they’d like to see. Based on career levels and departments, the survey will provide a comprehensive understanding of what matters most to your talent. Managers should act on findings and use positive company programs and accolades to enhance their EVP and employer brand.
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