New recruiting trends are always emerging and bringing significant transformation to the world of work. The dynamics of the job market, technology, and societal changes are shaping the way organizations attract, select, and retain talent. Human Resources (HR) teams play a pivotal role in adapting to these changes and staying ahead in the competitive world of talent acquisition.
Learn how small businesses are finding top talent and how job seekers are looking for a company that caters to their specific needs.
Hiring Process
The idea of going remote won’t be limited to working from home but also on how recruiters look for talent. That means they will not just rely on the traditional modes of recruiting talents but will adopt a remote-first approach.
Virtual Recruiting
When the COVID pandemic hit, 86% of organizations started to hire and interview job candidates virtually, and that practice will continue. In 2023, 69% of employers are incorporating video interviews in their hiring process because they find it faster and more efficient. The same survey said that virtual recruiting has contributed to a more positive applicant experience, as it is less intimidating than in-person interviews.
Social Recruiting
Social media/social recruiting software is becoming more prevalent for screening, with 67% of employers using it to research potential job candidates. Meanwhile, 56% of employers say that they found the right candidate on social media. It is a powerful tool that can be used for employer branding and recruiting. Aside from LinkedIn and Facebook, TikTok and Snapchat have become powerful platforms for companies to build their brands and look for talents, especially Gen Z applicants.
Data and Analytics
Analytics is expected to play an increasingly important role in the recruiting process in 2024. This is due to a number of factors, including the availability of data, the increasing sophistication of analytics tools, and the growing demand for data-driven decision-making. AI will be more intuitive when choosing who the best fit is—so much so that companies may favor using these than humans for recruiting. Mercer has even predicted that recruiters will disappear in the future.
Machine Learning
Predictive analytics can help organizations with determining recruitment budgets, assessing an applicant, and forecasting future hiring needs—and at the center of this is machine learning. Using this technology, hiring managers can make more accurate predictions based on the data (both historical and current) from different channels, like resumes, HRMS, job descriptions, and social media accounts of applicants.
Some of the things machine learning can analyze are cultural fit, skills to do the job, ability to stay engaged, or even how long the candidate is most likely to stay in the company. Tech giants like Google, have been using it to screen resumes, identify qualified candidates, and predict candidate fit. Google has also developed tools that use machine learning to help recruiters write effective job postings and interview candidates.
Employer Branding
An employer brand showcases a company’s identity, mission, and culture. By giving insight into how the business works and the community within, potential job seekers can determine if they want to work for a particular organization. Hiring trends show that over half (52%) of active job seekers cited poor employer brand and reputation as one of the reasons they left a previous job, while 27% said it was the main reason.
Job seekers typically use social media sites to learn about a company. The top sites employees and candidates visit to review employer brand and reputation are Facebook, LinkedIn, and employer review sites, like Glassdoor.
Chatbots
Aside from using social media to build your business brand, the year 2024 also shows how you can improve your employee brand with the use of technology. One of these emerging technologies is the use of HR chatbots.
HR chatbots are AI-powered software programs that can be used to automate a variety of HR tasks, including answering employee questions, providing support, and even onboarding new employees. Chatbots can be used to improve the employee experience in a number of ways, including:
- Providing 24/7 support: Chatbots are available 24/7 to answer employee questions and provide support. This can be especially helpful for employees who work in different time zones or who have questions outside of regular business hours.
- Automating repetitive tasks: Chatbots can be used to automate repetitive tasks, such as answering frequently asked questions, scheduling appointments, and processing requests. This can free up HR staff to focus on more strategic tasks.
- Personalizing the employee experience: Chatbots can be used to personalize and provide tailored recommendations and support. For example, chatbots can be used to recommend training courses, connect employees with mentors, or provide information about company benefits.
- Improving employee engagement: Chatbots can provide employees with a way to interact with HR in a fun and engaging way. Chatbots can also be used to provide employees with feedback and recognition.
Augmented Reality
Augmented reality is a technology that overlays digital information onto the real world, creating an interactive experience. By melding the digital and the real world together, companies can create a more positive employee experience—in fact, the number of jobs enhanced by its use increases every year. Some of the companies that are using AI to build their brands include Ike, Deloitte, and Toyota.
AR can be used to create virtual tours of company offices. This allows candidates to explore the office space and get a feel for the company culture without having to visit in person. This can be especially helpful for companies that have remote offices or offices in different cities.
Diversity, Equality, and Inclusion (DEI)
According to Homebase, 32% of job applicants will not apply for a job if the company does not have diversity. Another 72% said that they would quit their job and transfer to another company if that company were more inclusive. These statistics suggest that diversity and inclusion are not just a nice-to-have, but a must-have for companies that want to attract and retain top talent.
Job Applicants
It is no secret that job candidates today face a lot of competition. With the current economic conditions, many people are searching online and vying for the same position. In fact, according to historical talent acquisition trends, the average job candidate uses up to 16 sources during their job search.
So, what does this information mean for employers who are looking to fill a vacant position? It means that there are multiple sources to find the right candidate. However, they need to know what candidates want and where they are looking for jobs, so they can have a leg up on the competition.
What Candidates Want
In today’s job market, candidates are looking not only for a paycheck but also for job satisfaction. They want to work for a company that will invest in their growth and development, as well as make them feel like they are part of a team and that their work is meaningful. Current recruitment trends show that career advancement and flexibility are the top two things job seekers want from new employers.
Where Applicants Are Looking
According to our talent acquisition trends research, the vast majority of job seekers said they use online job boards to find open positions. Career sites and social media also ranked highly as a source of jobs, while personal connections and print advertisements were much less popular among respondents. This suggests that employers wanting to reach the widest pool of potential applicants should focus their recruiting efforts on online job boards and websites.
Recruitment Trends Frequently Asked Questions (FAQs)
What is the most important skill of talent acquisition?
Communication is an essential skill when hiring people. Recruiting officers must know how to effectively convey the company’s culture and values, the job role and responsibilities, and the benefits of working for the company.
What is the difference between talent acquisition and recruitment?
Recruitment is the process of finding and hiring qualified candidates for open positions. Talent acquisition is a more strategic approach to workforce planning, which includes identifying, attracting, and developing top talent to meet the company’s long-term goals.
Bottom Line
The data collected on recruiting trends provides valuable information for companies to consider when making decisions about their hiring processes. The current trends appear to be moving toward a more efficient and cost-effective use of technology in the recruiting process. This shift could save companies time and money while still maintaining a high quality of applicants.