February 22, 2023

Top 8 Recruitment Trends for 2023

The recruitment industry has experienced a massive shift after the COVID-19 pandemic. It shifted from an "employer-centric" to a "candidate-driven" industry. Moreover, the recruitment industry saw the emergence of a great technological revolution. The companies that failed to adapt to the ever-changing trends lost their hands on getting the best talent. Many companies, however, realised the need for change and now are among the top companies in their respective industries all because they realised they shouldn't keep relying on the old ways anymore.

Leaders of companies that go from good to great start not with ‘where’ but with ‘who.’ They start by getting the right people on the bus - Good to Great

This article is going to reveal the top recruitment trends! Adapting to these recruitment processes will help your company find better talent faster.

1. Passive Sourcing - The Future of the Recruitment Industry

Passive sourcing is like trying to find a cat who isn't looking for a home. You find that cat by showing it how awesome your home is! Don't wait for it to come to you. Instead, approach the cat yourself. In other words, find the best talent even if they don't want to join you. Keep communicating with them and show them the benefits they will receive if they come and work for you. Slowly but surely, you might change their mind about working for you.

These days, the recruitment industry heavily relies on passive sourcing. It allows them to have a large pool of qualified candidates even before a job opens up. They take these candidates and put them in talent pools. When a job does open up, they already know who to contact. It leads to better retention rates, improves your company's brand image, and significantly reduces cost-per-hire.

2. Focus on Candidate Experience - Go Beyond Resume

Treat your candidates like they are your customers. As mentioned above, the recruitment industry has changed into a 'candidate-driven' industry. Make it an enjoyable experience for people to apply to your company! Don't just stick to looking at the candidates' resumes. Ask for their portfolios, and look at their projects. Get to know their passions and ambitions.

Another thing to note is don't stick to the conventional means of communication. Write personalized emails to them. Add emojis, and use gifs. Make them feel like they are talking to a friend. Also, always keep them in the loop about your recruitment process. No one likes to feel like they are being ghosted.

3. Recruitment Technology - Say Goodbye to Old-School Recruiting

Gone are the days of manual data entry, resume reviews, and sending emails yourself! The recruitment industry has left behind these old processes. Now, they use the power of technology to help them accomplish these redundant tasks. The latest recruitment technology will help you screen resumes, schedule interviews, and even help you in conducting interviews. They provide a large variety of data and KPIs. They can help you manage your talent pools and provide features like sending bulk emails.

4. In-house Referrals - Power to the People

The recruitment industry has only just realized the power of in-house referrals. In-house referrals are valuable for companies because they help them find pre-screened and highly qualified candidates for jobs they might not have found otherwise. And they're great for people looking for jobs because they have a better chance of getting the job based on the recommendation of someone they already know and trust. It cultivates a sense of pride and ownership among the employees.

This practice results in better employee retention rates and reduces cost-per-hire.

5. Build Brand Mojo - Craft a Distinctive Brand Image

In the recruitment industry, your social media presence is everything. It not only helps build loyalty and attract candidates but also results in long-term growth and sustainability. You need candidates to identify you from the rest of the crowd. Try to develop a sense of personal communication with your audience. Your brand image needs to be consistent and clear. It also leads to better sales.

Here's how you can build a strong employer brand.

6. Don't Cheap Out on Your Employees - Ensure Fair & Equitable Compensation

Companies should pay their employees a fair salary according to the industry market trends. The competition for top talent is getting fiercer, driving recruitment trends toward more personalized and targeted compensations.

The recruitment industry has learned the hard way that it is very harmful to a company if the employees feel like they don't get compensated fairly. This results in reduced productivity and motivation. In the long run, this costs the company millions of dollars.

7. No More Nine-to-Five - Wonders of Flexible Work Hours

One of the recruitment trends we're seeing is that present-day candidates highly value having a work-life balance. Most of these candidates want this balance by working for a company that allows them to work flexible hours. It leads to increased productivity and greater job satisfaction and is also beneficial for the company because it saves cost and is much better for the environment.

A recruitment trend that is here to stay is the idea of working from home. A whopping 98% of employees prefer working flexible hours rather than following a tight, predefined schedule.

8. Automate Your Way to Success - Embrace the power of AI tools

If I have seen further, it is by standing on the shoulders of giants - Isaac Newton

Do not go and reinvent the wheel. Embrace the power of AI tools. These tools help you write job descriptions and personalized emails. Heck, they will even do the pre-screening for you. It will not only increase efficiency and accuracy but will also help your company avoids biases

AI is the future of the recruitment industry, and as soon as you realize this, you can start taking advantage of the benefits that AI can bring to the recruitment industry. AI has the potential to revolutionize recruitment.