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8 Recruitment Trends to Follow in The Current Job Market
“The competition to hire the best will increase in the years ahead. Companies that give extra flexibility to their employees will have the edge in this area.”
– Bill Gates, Founder of Microsoft Corporation
Here are 8 recruiting trends that will provide insight to employees about the job market and help employers streamline and optimize their overall hiring process by improving productivity.
1: Remote Work
Pre Covid-19 employers believed their workforce would be too easily distracted at home, where their managers couldn’t keep track of their direct reports.
Today, 98% of workers want remote work for at least some weeks, and 37% of remote employees would take a 10% pay cut to continue working from home.
Adopting a remote working policy can save companies money by removing the need for costly office space while allowing workers to create their schedules and work wherever they please. It can be a win-win situation.
2: Diversity, Equity, and Inclusion (DEI)
What does your HR policy state “We are an equal opportunity employer. We believe in diversity and believe in creating inclusive cultures.”?
Using buzzwords in corporate terminology has become alarmingly common as opposed to actively incorporating Diversity, Equity, and Inclusion in the workplace.
However, organizations can no longer hide behind inclusivity statements that don’t get actioned. They will have to walk the talk to stay relevant and succeed.
78% of employees in the tech industry shared that DEI initiatives are essential when considering whether to accept a job offer. For Black, Indigenous, and People of Color (BIPOC), this number jumps to 88%.
3: Employee Well-being and Mental Health Checks
Employers must take a proactive approach to encourage employees to seek the proper care at the right time. Employees will likely embrace the idea and seek professional support when the stigma around mental health is removed and replaced with open and honest conversations. This emphasis on mental wellness and care will enhance employees’ careers, improve their daily lives, and benefit the work culture and community.
16% of employees have quit a job because of stress.
4: Data-driven Strategy
“Feelings” and “instincts” have been the decision-making force behind traditional recruitment. Companies only had the option of reviewing resumes or relying on interviews to gain insights about candidates. However, now many hiring managers use an alternative approach known as data-driven recruiting. HR managers and recruiters use data to understand how their hiring process works and where they can improve it.
That’s why 75% of applicants get eliminated by Application Tracking Software (ATS) used by 94% of US employers.
5: Reinventing Employer Experience
Companies that work on employee engagement will grow their revenues up to 2.5X more than their competitors.
Keeping workers connected and engaged in the new remote setting could be challenging but it’s been proven possible. Therefore, employers must find creative ways to reinvent the employee experience and apply it to the new norm.
6: Employer Branding
69% of job seekers would only accept a job offer from a company with a good employer reputation.
Job seekers today expect employers to answer the ‘What’s in it for me?’ question before they apply to open roles. With the right employer brand in place, a company is more likely to stay current or even surpass its hiring goals.
7: Gamification for Employees
Employee gamification uses game-like elements, such as points scoring, rewards, and competitive platforms, to boost employee engagement.
Gamification increases employee engagement by 60% and productivity by 50%.
8: Ethical Leadership
The necessity for value-based leadership has increased and become essential in the current job market. Leaders who set, define, and live by a clear set of values are likely to inspire confidence in employees, stakeholders, and consumers. Workplace trends like the Great Resignation and Quiet Quitting have brought attention to the need for more robust and ethical leadership. Toxic work environments and win-at-any-cost leadership styles will no longer attract top talent. Consequently, it could also drive away customers
Lack of experience and preparedness may negatively impact organizations, primarily as they aim to hire cheap talent in a tight labor market.
On the other hand, if you are a job seeker interested in working for employers paving the way toward a more progressive work culture, we can help you find the perfect match.
To get started, find out how your resume stacks up with the job market requirements.
*The FREE service we offer highlights three essential areas where inconsistencies could prevail in your current resume:
- Word count and absence of numerical data
- ATS keywords and lack of expertise
- Grammar, punctuation, and spelling errors
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