HR strategies to make hiring rewarding in 2023: Part 1

Hiring can be a make-or-break moment for any organization, and the choices made during the recruitment process can significantly impact a business’s success. As the backbone of any successful organization, human resources play a crucial role in shaping the company's culture and driving business growth. In the fast-paced world of business today, staying ahead of the curve in human resources is vital. But where do you begin??

Hiring is one of the essential processes in a company, which can quickly become a complicated and time-consuming procedure leading to disappointing outcomes & negative consequences if there is a skill gap, mismatch in expectations or lack of engagement. Recent developments and the long-term impact of the COVID-19 pandemic have made it much more difficult for HR professionals to identify and recruit the best candidates and retain current employees. In the ever-evolving world of human resources, it’s necessary to think outside the box and devise innovative strategies to attract, engage and retain top talent.?

To enhance and optimize the hiring process, here’s list of simple strategies that an HR leader can implement in 2023:?

1. Use of technology for impending talent crunch

There is an ever-present looming threat of talent crunch which can obstruct an organization's talent pipeline and development in many ways. Organizations must rely on the use of technology to overcome the talent crunch and simplify recruiting. In 2022, about 83 percent of the industries in India stated that they had talent shortages. This was a significant increase from about 48 percent in 2012 across the country, demonstrating that the talent shortage has only increased with time.

Many companies, however, have turned to technology to assist them in solving this problem and recruiting the right talent.

Applicant tracking tools and social media recruitment can assist businesses in finding and attracting top talent more swiftly and efficiently. Companies may use predictive analytics and performance management tools to identify and retain talented employees, eliminating the need for continuous recruiting.?

Employees, on their part, can be encouraged to leverage the benefits of online learning and training options to gain new knowledge and skills and stay relevant in the rapidly changing world of work. Virtual and augmented reality may aid in delivering immersive training experiences, allowing employees to learn new skills and knowledge in a virtual environment. Employees’ time and resources can be freed up by automation to focus on more complicated activities that need specialised skills and expertise. Technology may facilitate remote work, allowing people to work from anywhere, thus, providing organisations with access to a bigger talent pool.?

A Society for Human Resource Management (SHRM) survey reported that around 78% of firms employed technology to help with their recruiting process. According to World Economic Forum (WEF) research, AI can reduce the strain on recruiters by automating repetitive operations like resume screening and interview scheduling. Embracing technology can thus be instrumental in optimising the process of recruitment and retention of the right talent.

2. Reign in attrition and improve employee engagement

Attrition can negatively affect a company’s performance and growth. Therefore in today’s age, it is imperative for organisations to create an environment of growth and learning which can help to engage them for longer periods. Organisations must cater to the different requirements of employees, and provide a choice of training opportunities, including internal seminars, courses, and traditional education programs to facilitate their growth and career progression plans. There is also a need to promote a culture of learning by motivating staff to tackle fresh challenges, experiment with new technology, and share best practices. Allowing workers to study and participate in various business sectors is another strategy that can be adopted to help build new skills and obtain a better grasp of the firm’s operations.?

3. Instill a sense of belonging among the workforce?

Instilling a sense of belonging among employees is critical to fostering a healthy work culture and increasing employee engagement. One method is to encourage open communication, coordination, and staff interaction. Company leadership must articulate a vision for the company and its people, which will help to align the workforce with the mission and goals of the organization. Appreciation and building an inclusive culture are also vital in instilling a sense of belonging and ownership within the workforce.?

The secret to creating an inclusive work culture lies in building an organization which provides respect and voice to all employees, regardless of their position in the pecking order. In addition, it is critical to encourage employees to think outside the box and to be open to making errors and failing. One approach is to foster an experimental culture in which employees are motivated to take chances and experiment with new ideas. This may be accomplished by giving staff the resources and flexibility to explore and invent. Furthermore, acknowledging that failure is a standard component of learning may assist in fostering an environment in which people are not hesitant to take risks and make mistakes. Companies that embrace failure can foster a culture where workers feel comfortable expressing their thoughts and exploring new techniques. Additionally, allowing employees to learn from their failures may aid in developing resilience and a growth mentality among individuals. Thus, fostering a pleasant work environment, encouraging open communication, and recognising and appreciating employee accomplishments can also help to reign in attrition.

4. Encouraging apprenticeship programs -?

Apprenticeships provide a unique combination of on-the-job training and classroom education to develop highly competent staff. Apprenticeship programs can be tailored to deliver the precise needs of a specific industry or profession, guaranteeing that the employees thus trained are entirely prepared to work in their specialization. It can also help to build a robust talent pipeline by identifying and nurturing future leaders from within the organization, thus reducing attrition.?

Hiring is not just about filling available positions; in fact, it is the foundation upon which is built the culture and growth trajectory of an organization. A well-thought-out hiring approach that concentrates on discovering the correct fit for an organization can lead to the creation of a dynamic and effective workforce that will stay for the long haul. Lawrence Bossidy, retired CEO of Honeywell, famously once said, “I am convinced that nothing we do is more important than hiring and developing people. At the end of the day, you bet on people, not on strategies.” In short, hiring is an investment in the company’s future, and organisations can establish themselves for long-term success through an innovative and strategic approach. Implementing the above-mentioned strategies can help companies enhance their hiring process and make it exceptionally rewarding in the New Year 2023.

What is interesting is the potential that the Apprenticeship program has in solving many of the pain points faced by HR leaders today : Talent Creation, Nurturing, Engagement & Development. Employers can attract and keep young, top talent by offering apprenticeships, which allows them to learn, grow, and advance in their careers, thus opening up the channels for professional growth & progress, and creating a positive work environment where employees feel a sense of being valued. This will go a long way in checking attrition and engaging employees for the long-term. Apprenticeships are a win-win option for businesses and individuals in today’s ever-changing employment market, with the extra advantages of increasing inclusiveness and diversity.?

In Part 2 of the blog, we will dive in-depth into the various aspects, benefits and potential of Apprenticeship programs to understand why it can be the real game-changer in 2023.