Ghosting Job Applicants and More... HR Trends and News – March 2023

In March 2023, new HR trends emerged and shaped the way companies approach various aspects of human resources. These trends reflect the challenges and opportunities that organizations face in attracting, developing, and retaining talent, as well as in creating a positive work culture that drives growth and innovation. EDLIGO constantly monitors industry news and trends to keep you informed.

1. Silent Treatment: Businesses Ghosting Job Applicants

Ghosting job candidates has become a more common practice. Ghosting is a term used to describe the act of suddenly and unexpectedly cutting off all communication with someone, without explanation. This can be particularly frustrating and demoralizing for job seekers who have invested significant time and effort into the application process.

According to HR magazine, 44% of businesses do not reply to candidates within four weeks of receiving their job applications.

The reasons for this vary, but the most common include a lack of time to respond, a lack of interest in the candidate, or simply forgetting to respond.

The rise in employer ghosting can be attributed, in part, to the tight labor market. As businesses struggle to attract and retain talent in a competitive market, they may be more likely to ignore candidates they feel are not a good fit or are not worth the time to respond to.

However, ghosting can have significant negative consequences for businesses as well. Job seekers who have been ghosted are less likely to apply to that company again in the future and may even spread negative word-of-mouth about the company's hiring practices. For example, employees often share their experiences on platforms like Kununu which means that a company with a?history of ghosting candidates might quickly develop a bad reputation. The company?professional image may suffer as a result, and it may be more difficult in the future to recruit top people.

Furthermore, ghosting can also hurt the morale of current employees. If job applicants are treated poorly during the hiring process, current employees may begin to question the company's values and treatment of employees.

In response to the rise in employer ghosting, some job seekers are turning the tables and ghosting businesses themselves. According to a survey by the Canadian Federation of Independent Business, one-third of small businesses have had job candidates or new hires fail to show up or disappear without explanation.

To combat this problem, businesses should make a conscious effort to communicate with job applicants throughout the hiring process, even if it's just a simple acknowledgment of their application. Companies can also use automated tools to send status updates and reminders to applicants.

Ghosting has become an unfortunate trend in the business world, particularly in the hiring process. While it may seem like an easy way to avoid difficult conversations or save time, it can have significant negative consequences for both job seekers and businesses. Companies should prioritize communication with applicants and try to treat all candidates with respect and professionalism.

2. The CFO and CEO's Critical Role in Talent Strategy and Development

Managing talent is not solely the responsibility of the HR department. The CFO and CEO also play a crucial role in Talent Management, as talent is essential for the success and growth of any organization.

A report by the Economist Intelligence Unit (EIU) found that nearly 70% of executives believe that Talent Management is a critical component of their business strategy.

However, only a third of these executives believe that their organizations are successful in attracting and retaining top talent. The report further highlights that Talent Management is not an HR-only issue but requires collaboration and involvement from other departments such as finance, operations, and sales.

The CFO, in particular, plays a critical role in Talent Management. A Forbes article by Jim DeLoach managing director with Protiviti, suggests that CFOs need to focus on four key areas to enhance talent and workforce management. These include aligning talent strategy with business strategy, adopting a data-driven approach to Talent Management, managing workforce risks, and fostering a culture of learning and development. By prioritizing these areas, CFOs can help their organizations attract and retain top talent and create a sustainable talent pipeline.

Deloitte also emphasizes the importance of CFOs in defining and delivering the talent agenda of their organizations. In their report, they suggest that CFOs need to collaborate with the CHRO and other stakeholders to align talent strategies with business objectives, invest in talent development programs, measure and report on talent outcomes and leverage technology to enhance Talent Management.

The role of the CEO in Talent Management cannot be overstated either. A Harvard Business Review article by Ram Charan author and global adviser to CEOs and corporate boards, suggests that CEOs need to prioritize people over strategy. In other words, they need to focus on developing and empowering their employees, rather than solely relying on a well-defined business strategy. A talent-first approach can lead to better engagement, productivity, and innovation, which ultimately drives organizational success.

A joint effort between the CEO, CFO, and CHRO can create a talent-first organization. An article, by HRKatha suggests that the CEO, CFO, and CHRO need to work as a team to define the organization's talent strategy, align Talent Management with business objectives, measure, and track talent outcomes, and foster a culture of continuous learning and development.

Managing talent is not solely an HR business. It requires collaboration and involvement from the CFO, CEO, and other stakeholders to ensure the organization has a sustainable talent pipeline that drives success and growth. By prioritizing Talent Management, organizations can attract and retain top talent, foster a culture of learning and development, and create a competitive advantage in the market.

3. Leading for Growth: Harnessing the Power of Feedback

According to a study conducted by the Harvard Business Review, only 10% of employees feel that feedback they receive leads to meaningful change in their workplace.

Receiving feedback is critical for companies looking to improve their products, services, and overall performance. However, despite investing significant time and resources in feedback mechanisms, many companies still fail to act on the insights they receive. Here are some common reasons why this happens and what companies can do to address these challenges:

Lack of Clarity: Sometimes, companies receive feedback that is too general or lacks specific actionable steps. This can make it challenging to act on the insights received. To overcome this, companies should ensure that feedback is clear, specific, and provides concrete suggestions for improvement.

Resistance to Change: Change can be difficult, and many companies are resistant to changing their established processes or ways of doing things. To address this, companies must create a culture of continuous improvement that welcomes change and encourages experimentation.

Ineffective Implementation: Even when companies receive valuable feedback, they may struggle to implement it effectively. This could be due to a lack of resources, a lack of buy-in from leadership, or inadequate planning. To address this, companies should ensure that they have the necessary resources and support to implement changes effectively.

Fear of Confrontation: Some companies may avoid acting on feedback because they fear confrontation or conflict. This can be addressed by creating a safe and open feedback culture where employees feel comfortable sharing their thoughts and ideas without fear of retribution.

To ensure that feedback is acted upon effectively, companies should also consider implementing a feedback management system. This could involve setting up regular check-ins with employees or customers, creating a dedicated feedback email address, or utilizing AI-powered sentiment analysis tools to analyze feedback at scale. Additionally, companies should regularly review and evaluate their feedback processes to ensure that they are effective and aligned with their overall business objectives.

For example, the Harvard Business Review article"How Leaders Can Get the Feedback They Need to Grow," emphasizes the importance of seeking feedback from a variety of sources to gain a holistic view of strengths and areas for improvement. In the Forbes article "Unlocking the Power of Motivating and Empowering Teams," author Jennifer Patterson, strategic human resources consultant at PCG suggests that leaders align individual goals with organizational goals to increase motivation and empower teams to take ownership of their work.??

Leading for growth is all about harnessing the power of feedback to drive companies forward. However, many companies are failing to get it right. Feedback sessions can often feel like a tedious box-ticking exercise rather than a dynamic opportunity for growth. But it doesn't have to be this way! By reimagining feedback as an exciting and collaborative process, you can create a culture of continuous improvement that empowers your team to achieve their full potential. So, let's start embracing feedback as a catalyst for growth, and watch businesses soar to new heights!

Conclusion

The HR trends for March highlight the importance of treating job applicants and employees with respect and transparency, aligning talent strategy with business goals, and fostering a culture of feedback, motivation, collaboration, and empowerment.

As the job market becomes increasingly competitive, and the demand for skilled workers grows, organizations that adopt these trends are more likely to attract and retain top talent, drive innovation and growth, and create a positive work environment that benefits everyone.

At EDLIGO, we specialize in cutting-edge AI-powered Talent Analytics solutions that help businesses better understand their workforce and make data-driven Talent Management decisions. EDLIGO offers a unique approach to mapping people's skills instead of relying solely on job titles, it provides organizations with a comprehensive understanding of their employee's strengths and areas for development and recommends training paths and succession plans.

Stay up to date on the latest HR trends and news by subscribing to our monthly newsletter! Our newsletter is packed with valuable insights, expert analysis, and practical advice to help you navigate the ever-changing landscape of HR.

To learn more about our solutions, visit our website at https://www.edligo.com