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Q1 Roundup?

As we approach the end of Q1, I, like many recruitment folk, am most pleased that the first quarter of the year is over.?

It has been a pretty rough ride for Talent Acquisition professionals across industries for a number of months now, with big-tech making mass redundancies which heavily impacted internal recruitment teams, and smaller tech and some non-tech organisations following suit, with market uncertainty contributing to the decisions to cull workforces.

A stark contrast to the same months in 2021, when demand for recruiters was at a high many had never seen before. The market was unsustainable, almost an entity of its own, and whilst many expected there to be a crash, one at the level we've seen - having impacted so many TA professionals - was not expected.

Additionally to this, we almost saw the collapse of SVB, which would have a serious effect on thousands of tech starts ups, however, the swift move of HSBC saw a rescue deal, providing an already uncertain market with a little more stability.

TA and HR priorities for 2023

So, as the focus on people slowly yet undoubtedly returns, here are a few key priorities that will be the focus of people teams into the year ahead.

• Internal Mobility?

In 2023, talent acquisition professionals are placing internal mobility as a top priority. Leaders are delving into why it's crucial for talent acquisition to drive internal mobility strategies within organizations. Not only does this help navigate the current tight labor market and acquisition budget constraints, but it also enhances the quality of external hires.?

• The focus on data?

For a significant period of time, now, HR and TA data have been a key element of any successful people function. Without it, there's limited buy-in from business leaders, zero means to measure performance and candidate data, and no viable way to make impactful decisions for change.?

More notably enhancing talent acquisition effectiveness is being achieved by those who are developing and recruiting for data analytics functions within their organizations. Recruiting for data-specific roles which tie into people functions ensures data remains, and develops at the forefront of organisations.?

• AI In Recruitment?

Artificial Intelligence has become a growing trend across various industries (anyone not heard of Chat GPT?!) including recruitment, with an increasing number of companies utilizing AI to boost efficiency and productivity, especially when it comes to hiring new staff.?

AI tools that scan sourcing platforms such as LinkedIn and Indeed are readily available, enabling employers to quickly identify potential candidates, with the screening and filtering process significantly expedited. AI tools also assist with managing the recruitment process, from job descriptions to onboarding, and analysing data to improve employer branding.

It will certainly be interesting to learn how AI will continue to be utilised by HR and TA teams throughout 2023.?

• Short term hires?

As we head into 2023, we’ll see an increase in people and businesses seeking flexible work arrangements, even if it means sacrificing the traditional security of a full-time position.

To cater to this growing talent pool, talent acquisition experts will concentrate efforts on building robust relationships with candidates keen on temporary employment opportunities. Collaborating closely with clients, they will strive to devise strategies that effectively address their changing needs.

• Working models and work-life balance

It's not going anywhere yet, the continued conversation around working models hybrid, fully remote, or in-office still dominate recruitment conversations.

For years now, businesses have strived to achieve the elusive goal of work-life balance. However, the more recent surge in remote work has made it even more challenging to disconnect from work demands during off hours. As a result, many employees are adopting a new approach and opting for a more flexible work schedule rather than the traditional 9-to-5.

In 2023, job seekers will prioritize companies that support work-life integration. This entails the ability to work when it's most convenient to manage personal responsibilities, such as taking a break for an appointment or to collect children and returning to work later in the day. Rather than monitoring the clock, managers will measure employee success by output, rather than the hours worked during the day.

What we’ve been working on at Talent Patch

Despite a very different market to that in 2022, we’ve still been keeping busy here at Talent Patch.?

Talent Acquisition roles have been a little sparse as expected, with less roles available due to layoffs, recruitment freezes, hesitant clients, and a talent pool full of readily available candidates.

The HR market, whilst different in terms of role volume, remains fairly buoyant, with some employers feeling the competitive market first-hand when recruiting directly, with over two-thirds (67%) of candidates in this sector saying they are open to something new in 2023.

The challenge to attract and gain commitment from candidates whilst in the process remains, with attractive salaries, job security, and flexible working models being high on the agenda for those exploring the market.?

Roles we’ve worked on this quarter?

• People Operations Lead - FTC, Technology & Data?
• HRIS & Payroll Manager,?Biotech?
• Human Resources Business Partner,?Medical Devices?
• HR Manager, Medical Devices
• Senior HR Business Partner, E-commerce?
• Talent Acquisition Coordinator, Technology?
• Recruitment Advisor - Biotech

Q2 and beyond?

Despite a very dreary start to the year for TA folk, it’s likely that in the third and fourth quarters of this year, companies that downsized their talent acquisition teams will increase their demand to hire recruiters. Though we won’t see this in the same volume as we did in 2021, we’re likely to see a significant rise in demand in comparison to the last half year.?

We've already seen the market liven up over the course of the last 6 weeks, and with a new financial year just around the corner and new budgets and hiring plans to meet, we'll continue to see the volume of TA roles continue to increase (hurrah!)

A word of caution - businesses taking advantage of the current market to offer low salaries or withhold raises will become a hunting ground for agencies when demand improves (and it will improve.)

The HR market will continue to flourish, with candidates actively looking for new opportunities to enhance their careers or simply for a change of scenery. Attracting, recruiting, and retaining HR folk will be high on the agenda for organisations that are weary of losing top talent, as building out people teams to support wider business objectives remains a key agenda.

Drop me a note should you wish to chat about anything in the land of TA and HR