In a recent blog post, we outlined five recruitment trends stemming from the Great Resignation and ongoing talent shortage.
While a tight labor market continues to spark challenges for businesses, other trends in the HR landscape are opening more doors and offering forward-thinking companies a competitive advantage.
In this blog post, we’ll take a look at five of those trends.
Zoomers continue to enter the workforce in droves
Generation Z, also known as Zoomers, includes anyone born between the years 1997 and 2010. With the oldest Zoomers at 26 years of age and the youngest still just 13, 2023 is the year where companies should prepare for the ‘tipping point’ of the largest and most ethnically diverse generation entering the workforce.
Generation Z will make up 30% of the global workforce by 2030, according to data published by the World Economic Forum. In the face of labor and skill shortages, this generation has much to offer in terms of volume and innovation.
So what do companies need to know about Zoomers? They’re true digital natives and have never experienced schooling without technology – so they will expect it to play a role in their work life. To accommodate this generation in recruitment, companies will need to ensure the process is fast, easy, personalized and mobile when possible.
Positive candidate experiences are key
While employee engagement and retention are important, success starts with the recruitment, interview and hiring processes.
Companies need to be prepared to be interviewed as well, as today’s candidates are increasingly inquisitive. In the past, it may have been common for job candidates to ask themselves about a prospective employer, “Do they like me?” Now, candidates are asking, “Do I like this company?”
In 2023, employers will need to do more to attract and impress candidates during all stages of the recruitment process, from the job posting to the application, interview, follow up, hiring and onboarding.
The following tips can help companies raise the bar for positive candidate experiences:
- Set an interview agenda
- Be transparent about the search process
- Emphasize your company’s values, mission and benefits
- Communicate with candidates frequently
- Follow up timely and appropriately
More companies will look to hire internationally
The multi-country, multi-sector 2023 Hiring & Workplace Trends Report, recently published by Glassdoor and Indeed, predicts an ongoing tight supply of workers for years to come across most industries. Without more open immigration policies or an increase in labor productivity – both unlikely to happen in today’s climate – companies may have trouble filling key positions with local hiring pools.
However, hiring internationally can open new talent pools and allow companies to access niche skills and competencies. At the same time, cross-border hiring may help companies recruit more cost-effective talent from up-and-coming talent markets like Nigeria, Kenya, India, Poland, Argentina, Pakistan etc. Building a global team can also help companies build their diversity, equity and inclusion (DEI) profile.
Recruitment and talent management “tie the knot”
The return on investment (ROI) for recruitment – even for a great hire – doesn’t pay off if team members don’t stick around for very long.
That’s why, in 2023, talent acquisition and talent management teams will finally “tie the knot” and begin to work closer than ever before.
Ideally, the two functions will collaborate from the start of the hiring process all the way through to onboarding, payroll processing, benefits, career development and succession.
End-to-end talent solutions
As a reflection of recruitment and talent management working closer than ever before, more companies with cross-border workforces will look to partner with an expert recruitment partner as well as an Employer of Record (EOR). This can help them hire quickly and compliantly with localized HR support.
In some cases, companies may be able to find one partner who can handle both recruitment and talent management. For example, GoGlobal recently announced a new solution called Recruit & Hire that helps companies look beyond their borders to find the right person for the right role at the right price.
By combining global recruitment capabilities with an EOR solution, companies gain access to an end-to-end solution that allows them to hire the best talent for the job – no matter where they are in the world.
GoGlobal is your partner in the Race for Talent. Contact us to learn more about how our one-of-a-kind, unique-to-the-market Recruit & Hire solution can help you stay pace with recruitment trends – and engage new talent pools around the world.