Top 3 Recruitment Trends for 2023
Is your Human Resources (HR) team gearing up for the new year of sustained talent shortages? According to the Robert Walters Salary Survey 2023, 92% of companies reported that finding the right talent is their top concern—especially for managerial and senior-level roles.
A knowledge of the latest HR trends is crucial in helping you plan your 2023 recruitment and retention strategy. By examining HR trends, your HR team will have a solid foundation to suggest and implement effective policies which will attract top talent as well as maintain employee engagement. To help you, we have identified the top 3 recruitment trends for 2023.
1) Social Recruiting
There is an extremely fierce competition for talent as a result of the talent shortage in Singapore. Therefore, companies have to resort to novel talent acquisition strategies such as social recruiting. Social recruiting refers to harnessing the network effects of social media platforms for finding, attracting, and hiring talent.
In 2023, social media will only continue to grow in importance as a recruitment tool as more and more companies utilise the various channels like LinkedIn, Facebook and Instagram. Not only can you post job positions on your social media accounts, but you also can source for promising candidates and actively engage them.
This way, you will have built a relationship with candidates and showcased your brand before inviting them to apply. Don’t underestimate the power of social media—your social media presence can entice some talent to join your company!
2) Increased Use of Technology
Technology will play an even more significant role in recruitment in 2023. Remote hiring has become commonplace—the majority of job interviews are held virtually on video-conferencing platforms like Zoom or Google Meet. You may have already adapted to conversing with candidates electronically and arranging virtual interviews with hiring managers.
Furthermore, companies make use of a plethora of online assessment tools to assess candidates’ technical skills and abilities. In order to gauge whether candidates will be excellent team players, companies are increasingly administering online personality profiling tests. These personality tests—such as the DiSC behaviour inventory and the Myer-Briggs Type Indicator (MBTI)—can help your company make more informed hiring decisions.
Big data in particular is a rapidly emerging trend. Companies are enhancing their recruitment strategies via comprehensive data analytics. They are turning to big data for accurate measurements of key HR metrics: quality of hire, cost to hire, and time to hire. By analysing such data, your company will be able to make strategic decisions on how to optimise your talent acquisition pipeline.
3) Evolving Role of HR and Recruiters
The role of HR teams and recruiters will continue to undergo a dramatic evolution. Instead of performing a mere support function, HR teams will be recognised as a critical value-add for business impact. This can be seen in how companies have elevated HR to their C-suites through the creation of Chief Human Resources Officer (CHRO) and Chief People Officer (CPO) roles.
Moreover, HR teams will play a more proactive role in identifying and developing talent within companies. They will also work hand in hand with professional recruiters to develop their recruitment strategies. Together, HR teams and recruiters will be key strategic players, responsible for anticipating hiring managers’ needs and filling talent gaps.
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