The talent challenge!

Being in recruitment for almost 8 years, I feel every year is different to the last, it’s an evolving field, and each year brings its own set of challenges and opportunities.

As we step into 2024, recruiters, HR professionals and hiring managers are faced with a rapidly changing landscape shaped by technological advancements, economic shifts, and shifting workforce expectations.

In this article, I'll explore some of the key challenges that organisations are likely to encounter for the remainder of 2023 and going into 2024.

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Talent Shortages

One of the most persistent challenges in recruitment continues to be the shortage of skilled talent. As industries transform and adapt to new technologies and processes, the demand for specialised skills often outpaces the supply. In the world I operate in, post Brexit we’ve seen a huge lack in audit talent due to not being able to access candidates from anywhere in Europe.

My colleague, friend, and confidant – Julia White who was on a panel back in October 2023 at the Chartered Institute of Internal Auditors conference mentioned there is a real concern for talent shortage as some of the world’s largest organisations aren’t sponsoring candidates. Unfortunately (or fortunately for some) this will continue to drive salaries up within the corporate governance market.

My take on this is very simple, either businesses can sponsor candidates who have built up some UK experience or wait longer to find the right candidate and pay them a higher salary...whichever way you look at this, new talent will cost money. Yes, I completely sympathise businesses are in a catch-22, if they don’t sponsor, it’s a much longer wait and every day that goes by the business is losing money!

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Remote Work and Hybrid Models

The COVID-19 pandemic has accelerated the adoption of remote work, and many organisations are now opting for hybrid work models. While these models offer flexibility, they also pose recruitment challenges with this. Assessing a candidate's ability to thrive in a remote or hybrid work environment and maintaining team cohesion can be difficult.

Organisations will need to adapt their hiring processes to evaluate candidates for remote work readiness with the hybrid model and ensure that they are a good fit for the organisation's culture.

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Technological Advancements

Advancements in technology, particularly in the fields of artificial intelligence (AI) and automation, are transforming the recruitment process. While these technologies can streamline candidate sourcing and screening, they will lack the human interaction to really test those interpersonal and communication skills. In my opinion, the way I believe technology and AI needs to be used is as a resource in addition to professionals carrying out their tasks rather than by replacing them all together.

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Diversity and Inclusion

Diversity and inclusion have become central themes in modern workplaces, and candidates increasingly seek employers that prioritise these values. Recruiters must actively work cohesively with hiring managers to eliminate bias in hiring processes, create diverse candidate pools, and foster inclusive work environments. Achieving diversity and inclusion requires not only re-evaluating recruitment practices but also promoting cultural change within organisations.

I’ve had the pleasure of meeting Matthew Syed back in 2018 and having read his books (Black Box Thinking and Rebel Ideas), he talks about cognitive diversity. Research shows that individuals and teams with diverse thinking hold a variety of experience, expertise, and opinions thus, are much better equipped to deal with complex problems and have higher levels of collective intelligence.

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Conclusion

Recruitment in 2023/2024 presents numerous challenges that require adaptability, innovation, and a deep understanding of the evolving job market. Organisations that successfully address these challenges will be better positioned to attract and retain top talent in a competitive landscape.

By prioritising diversity and inclusion, embracing technological advancements, and focusing on talent shortages, recruiters can navigate these challenges and build a workforce for you that is prepared for the future.