“The hiring market has cooled. It’s not white hot. But make no mistake, it’s still hot!”
Universum’s Talent Outlook 2023 takes each internal and external research, and drills down on the key trends that may turn into increasingly popular this yr. The 2023 eBook focuses on 5 key trends, and provide invaluable insights as to why you as an employer should turn your focus to those. The next trends are explained:
- Employers or Job seekers: who’s controlling the hiring market?
- Talent Attraction – Why is retention vital?
- Is it time to tune your Employer Value Proposition (EVP)?
- Firms increasing productivity measures – are tensions rising between employees and employers?
- Data– Driven Decision Making
“The hiring market has cooled. It’s not white hot. But make no mistake, it’s still hot!” said Appcast Lead labor economist, Andrew Flowers in a recent interview. This forewarning falls in keeping with our recent research in our annual Talent Outlook report, which explores the important thing challenges and trends Employer Branding and talent acquisition experts should concentrate to in 2023.
What are the takeaways and focus points for 2023?
Here’s a sneak peek of a few of trends try to be aware of this yr…
- Define what flexible work means in your company: Is flexibility simply concerning the opportunity to make money working from home – but achieve this on a hard and fast schedule? Or does it mean employees can select their work location and schedule? Does the corporate culture really support flexibility or only give it lip service? This distinction is very important to job seekers.
- Construct the productivity road map: With a lot speak about flexibility, employers must also be clear about expectations for productivity, and the way they aim to measure it. “While organizations, on the whole, are maintaining (and even expanding) their productivity expectations, many are usually not providing leaders with resources to coach, motivate, monitor, coach or mentor their direct reports,” says Paul Schempp, a leadership speaker and research professor on the University of Georgia. Employers have an increasingly broad portfolio of tools and apps to measure productivity – starting from evaluation tools that take broad measurements of aggregate performance, to fairly intrusive tools that monitor keyboard clicks.
- Make sure the EVP (Employer Value Proposition) strikes a balance: Increasingly, employers are asking that an employee-friendly Work Anywhere ethos is balanced against expectations for productivity and accountability. “If the employer value proposition focuses an excessive amount of on flexibility, with no counterweight discussion of labor expectations, it’s setting the flawed tone,” says Richard Mosley, Global Client Director at Universum. “Even while employers are scrambling to draw top talent, their EVP should balance the needs of employees with the expectations of employers.”
- Consider the nearly-perfect hire: When top talent is so difficult to rent, employers should remain open-minded about hiring professionals who ‘almost’ fit the role. A BCG (BOSTON CONSULTING GROUP) report explains, employers can consider “hiring candidates who’re a 70% fit after which training them to quickly come up to the mark on the remaining requirements. STARs—people who find themselves “expert through alternative routes”—could be an awesome source of talent.” (BCG)
- Put money into an employee-experience manager. The role of the worker experience manager – a comparatively latest position – is now ranked fifth on LinkedIn’s 2023 “fastest-growing jobs” listing. Worker experience managers “track and analyze every day workflow, office aesthetics, and worker surveys to find out how engaged and satisfied staff are of their jobs,” says the Wall Street Journal. But primarily, an worker experience manager will help boost productivity, improve satisfaction, and reduce turnover – a worthwhile investment for 2023.
We canvassed recent research, analyst commentary, and business news to bring you the newest insights. In our latest report, resulting from be released on February 21st we highlight and translate key findings from Universum’s body of research – from the World’s Most Attractive Employer rankings to our annual employer branding survey.