Adapting to the Changing Landscape of Recruitment: Review of the Key Trends for 2023
This year, businesses have had to rapidly adjust to a new reality since the pandemic, after the effects of Brexit and higher inflation rates which have led to increased living costs and pressure on the economy.
In human resources and recruitment, the way work is approached has changed. From virtual hiring, to reimagining your talent pool, recruitment has advanced at lightning speed.
At Recruitment Entrepreneur we’ve supported many of our portfolio partners with undergoing a transformative shift to quickly adapt and adopt many of the latest practices and tools highlighted below.
Here are some key trends that have helped shape the recruitment industry in 2023:
1. Virtual Recruiting: This has become a cornerstone of modern recruitment, Netsuite found that around 70% of companies report that a significant portion of their recruiting and onboarding processes are now virtual and are expected to grow. However, while it offers efficiency, it also presents challenges in conveying company culture and fostering in-person interactions.
2. Remote Work: The hybrid model of in-person and remote work is here to stay, opening the door to hiring talent from anywhere in the world. More than one-third of companies are willing to hire remote workers globally. Flexibility in work arrangements is increasingly important to job seekers.
3. Automation: Recruitment processes are automated, from candidate relationship management to applicant tracking. This reduces manual tasks, streamlines the hiring process, and enhances the candidate experience.
4. Artificial Intelligence (AI): AI is playing a pivotal role in sourcing candidates, CVs, and even conducting interviews. It aids in identifying the best-fit candidates and is used to remove bias from job descriptions, making recruitment fairer and more inclusive.
5. Chatbots: Chatbots are improving candidate engagement, answering queries, and converting more applicants into leads. They also provide candidates with insights into the organisation before applying.
6. Benefits Expansion: Companies are expanding their benefits packages beyond traditional medical and dental coverage. Mental health benefits are on the increase, with many job seekers seeking support in this area.
7. Social Recruiting: Recruiters are leveraging various social media platforms beyond LinkedIn to find and engage high-quality candidates. Instagram is gaining popularity for creative recruitment strategies.
8. Webinars: Webinars are proving effective in building brand awareness and attracting potential candidates. They create positive associations with the business and engage candidates in a unique way.
9. Candidate Matching: Candidate matching software, powered by AI and machine learning, is automating CV screening and shortlisting, significantly improving recruiter efficiency.
10. Recruitment Marketing: Recruitment marketing applies marketing principles to hiring, creating brand awareness and capturing leads. Ensuring job descriptions and content is attractive and creative is vital in this strategy.
11. Diversity, Equity, and Inclusion (DEI): Commitment to DEI is vital for both businesses.
