Top 5 hiring trends to watch out for in 2023

The recruitment industry has significantly transformed compared to the last several decades. As far as a recruiter is concerned, finding new, high-value candidates is where they need guidance and support. Despite the risk of a potential recession in early 2023, it is essential to be ahead of the game as companies struggle to find talent.?

Now that we’re about to step into 2023, have the hiring routines become more sophisticated? What five hiring trends must you be aware of in 2023 as a recruiter? Let’s take a look!?

Technology Adoption

AI, Analytics, Automation are some of the technology enablement's which organizations will look at adopting in their day to day recruitment. ATS, CRM, Talent Communities are another wave that’s about to hit everyone by 2023. Many companies have made their hiring more effective with the help of ATS. It allows them to source, vet, and engage qualified candidates and applicants at a lower cost! A TalentLyft insight shows that 78% of recruiters confirm that the applicant tracking system has improved the quality of hire.

Attractive Compensations and Benefits

It has been proven many times that if employees are not paid for what they’re worth, they’ll be searching for a new job at that instance. If companies lose their talent, they’ll have to spend more money on hiring new candidates and training them to make them capable of assignments.?

Recruiters have now started to understand that offering competitive salaries and benefits and paying new candidates and employees will ensure a higher retention rate among team members.?A new way of looking at Comp & Ben is the need of the hour.

Diversity and Inclusiveness

A Deloitte report says that in addition to competitive pay, 47% of candidates are more likely to apply to organizations that place a high value on Diversity, Equity, Inclusion, and Belonging (aka DEIB).?

Suppose a company treats its employees equally, regardless of race, gender, or nationality. In that case, it has a better chance of becoming extraordinarily productive and successful. DEIB enables employees to work happily and productively because they are valued for their contributions.

Salary Transparency

Many companies tend to hide salary information to ensure they can hire more stars and pay them less. Resume builder reported that 1 out of 20 employees would quit if paid an unfair salary.

Recruiters should understand that candidates can access all information about the Fair Market Value of their salaries. If companies aren’t honest about their salaries, they won’t be able to find suitable candidates. However, this is expected to change since most companies are getting more transparent about their pay scale.?

Proactive Recruitment

This technique of hiring involves building a talent pool of potential candidates even before there’s a need to fill a vacant position. As more than 70% of candidates are passive job seekers, it shows the untapped pool of candidates available for hire.?

Recruiters who follow proactive recruitment do not wait for candidates to apply. Referring to the list of potential hires, they’ll connect and engage with the candidates to nurture good relations with them. When there’s a need for covering a position, they’ll attract said candidates by offering competitive salaries and benefits.?

Final Thoughts

Companies have started to alter how they work, from treating people with dignity to giving employees and candidates what they deserve. In 2023, there is a significant shift coming.?

Want to stay at pace with these rapidly evolving hiring trends? You’re always welcome to contact me for a personalized chat on how recruitment is evolving.?