The New Phase Of Hiring: Trends We Can Expect In 2023 The future of work is on a completely different trajectory than it used to be during the past decades, and recruitment is one of the primary business functions that have to match this trajectory for businesses to thrive
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The past few years have witnessed a cascade of global events, including the devastating pandemic, volatile geopolitical situations, the looming threat of a recession and environmental deterioration, resulting in climate change and global warming. Both businesses and individuals had to go through many transformations to adjust to the evolving world. The future of work is on a completely different trajectory than it used to be during the past decades, and recruitment is one of the primary business functions that have to match this trajectory for businesses to thrive.
As we approach the end of 2022 and gear up for the new year, here are some hiring trends we can expect, and build our recruitment strategies accordingly.
Remote hiring
Employees today look at the company's work culture, policies and flexibility rather than simply considering remuneration as the determining factor. In fact, a recent report showed that 67 per cent of southeast Asian employees would rather be happy than be unhappy but take home a big paycheck. The availability of remote work now plays a prominent role in employee satisfaction and retention.
At the same time, the past two years are a testament to the fact that productivity is possible from anywhere. It also proved that conventional HR practices can be made more efficient by adopting a tech-first approach. More and more organisations are trying to offer flexibility to attract top talent.
In the coming year, we can expect an upswing in remote recruitment on the back of cutting-edge, SaaS-based HR tech products made specifically for remote hiring. It'll enable organizations to deliver a superior employee experience right from the pre-hire phase.
Increased upskilling for attraction and retention of top talent
Globally, organisations are facing an acute shortage of skilled workers, intensifying the talent wars between companies. Every company wants to hire the best talent, but it's estimated that by 2030, around 85 million jobs will remain vacant due to a lack of skilled labour. To overcome this bottleneck, an increasing number of organisations will increase their focus on upskilling programs. In the coming months, we can expect to see more companies providing upskilling/reskilling programs even before the employee has come on board. They'll leverage artificial intelligence in their learning management systems that will not only suggest personalised upskilling courses to every employee, but it'll also suggest if there is a need to develop new courses for specific skills.
Better employee engagement
The mass shift to remote work almost overnight called for a revamp in organisational strategies to ensure optimum employee engagement. Additionally, employees' expectations from companies have evolved too. Merely hosting Friday gaming sessions aren't sufficient anymore. Today, professionals, especially in the millennial and GenZ cohort, are looking for better communication within the company, healthy competition, increased flexibility, and a work culture that fosters growth.
Many companies have already started adopting HR tech platforms built to increase employee engagement. Enterprise social media, rewards and recognition platforms with virtual points and trophies, total benefits platforms integrated with e-commerce sites and financial services, and more such tech implementations will enhance employee engagement among the global workforce. Progressive companies will showcase such benefits to attract and hire the best talent.
Bottomline
Hiring will be more competitive in the coming year. Companies will have to be agile, innovative and resourceful to maintain their edge in the market, and the latest technology will be the winning factor in this competition. Hiring the right candidate would just be the beginning of the story, a lot of effort will be required to engage and retain the talent as well.
