Having a strategic approach to talent acquisition is a prerequisite. It helps find the best matches for long-term goals!
The year ended with one of the most disrupting times for various industries where businesses saw one of the most extensive layoffs of 2022. Headlines appeared almost every other day where organizations like Twitter slashed half of their workforce followed by Meta cutting almost 13% of their employee capacity.
Such a scenario is hardly a good sign that the world’s largest companies reduce their headcounts all at once. And when the global community is facing the repercussion of the ‘great layoffs’ it’s of utmost importance that Talent Acquisition (TA) managers reexamine their roles and responsibilities.
The year 2023 has witnessed a change in the business landscape and thus adapting to the changing responsibilities and adjusting to a refined TA strategy is a must. During such a challenging time, Talent Acquisition managers are expected to be flexible in order to support their organization and strengthen their pipelines. This may call for identifying and attracting high-caliber talent and streamlining the hiring process to reduce time-to-hire and cost-per-hire.
In this blog, we will discuss the top 7 talent acquisition and recruitment trends that will help recruiters and TA managers navigate through this difficult time and strategize their plans for 2023.
1. Virtual Interviewing
The pandemic of COVID-19 opened up gates for remote working and it has become a major trend in talent acquisition and retention, looking set to continue in 2023 as well. Despite many organizations opting to open up, the remote working environment is here to stay and the entire notion has become much bigger than it was before the pandemic. Along similar lines, remote interviewing has become the norm and has remained relevant in the post-pandemic years.
Powered by technological advances, collaborative hiring has made the selection process simpler by allowing participants from other departments to be part of it. Although the virtual hiring trend started during the pandemic years it is here to stay because of its convenient ability to be used on short notice and also tremendously useful in collaborative hiring.
2. DEI Policy
With changing business tides, it is very important for organizations to also focus on issues that are social in nature. And diversity and inclusion are one such area that directly affects talent acquisition and recruitment.
It is time and again proven that organizations with a diverse pool of workforce have better productivity and scalability.
Having a strategy in place that will help bring diversity and inclusion will not just help organizations boost their profitability but also gain a competitive advantage. The goal of recruiters for this year should align with DEI, i.e., identifying and including a wider diversity of candidates in the talent pool.
3. Robotic Process Automation
The advancements in technology have seen a rise in bots that can automate manual and repetitive tasks. They are capable of performing a wide array of recruiting tasks that usually consume several hours. Robotic process automation performs operations on a large scale that doesn’t require any kind of human intervention. For instance, the verification of documents for a large number of candidates can be a hectic process. A bot can simplify the process and upload the relevant information on the applicant tracking process.
The technology is trending as it can save recruiters time and effort, while simultaneously adding value and automation to talent management. According to experts, this technology would work wonders in 2023 because if combined with AI, it can source, screen, sort, and rank candidates based on potential skills and competencies. Such tedious tasks are simplified by Robotic Process Automation and can cut the efforts from hours to minutes.
4. Analytics
Even though analytics is not entirely an HR trend but still the industry is trying to adopt analytics at a rapid rate. This has made analytics a hot topic for talent management and recruiters which will further affect the strategy they are planning to fill the void. The use of an analytical approach in talent acquisition will help in decision-making and provide insights to identify areas of strength and weakness.
It will be a major trend for 2023 as it will help organizations to reduce the cost of talent acquisition practices and pinpoint problems and loopholes in the process while filling vacant roles more efficiently. Moreover, it can prove the effectiveness and ROI of the organization’s recruiting software investment.
5. Artificial Intelligence
The world has paced up in the last two years and has witnessed the birth of unimaginable technologies especially those integrated with AI and ML. Talent acquisition software today is using AI to improve ways to source, identify, and engage talent. Unlike RPA, AI can perform smart tasks such as reviewing resumes for specific skills, characteristics, or keywords.
The trend will be largely used by candidates to fetch details about jobs while on a job hunt. Also, chatbots have the ability to be friendly and accurate when responding to candidates. Additionally, ML adds value to AI as it continuously improves itself, thus making it effective the longer it is used.
Wrapping Up
In conclusion, the roles and responsibilities of talent acquisition managers can be challenging and these trends will help understand the larger picture they are trying to see for the year 2023. Overall speaking, it is very important for recruiters to be adaptable, proactive, and flexible when dealing with the talent management process.
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